LMUB vs PZA
iShares Long-Term National Muni Bond ETF against Invesco National AMT-Free Municipal Bond ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
10%
514 shared positions
Fee gap
19 bp
LMUB is cheaper
1-year return gap
0.8 pts
LMUB is ahead
Larger fund
PZA
$4.1B
Side by side
| LMUB | PZA | |
|---|---|---|
| Fund | iShares Long-Term National Muni Bond ETF | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | iShares | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.09% | 0.28% |
| Assets | $1.7B | $4.1B |
| Average daily dollar volume | $45M | $100M |
| Listed | Mar 17, 2025 | Oct 11, 2007 |
| FrenzyCap score | 89 | 80 |
| 1-month return | −0.8% | −1.5% |
| 3-month return | −5.0% | −5.5% |
| Year to date | −6.3% | −6.9% |
| 1-year return | −6.9% | −7.7% |
| 30-day volatility | 9.4% | 8.8% |
| Worst drawdown, 1 year | −10.5% | −10.4% |
| Trailing 12-month yield | 4.12% | 4.10% |
| Holdings | 1,027 | 6,664 |
| Top 10 weight | 4.8% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$236M thru May 2026 | +$400M thru May 2026 |
| 30-day implied volatility | — | 9.4% |
| Holdings as of | as of Oct 20, 2026issuer data | as of May 31, 2026SEC filing |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
54% of LMUB · 11% of PZA| Holding | LMUB | PZA |
|---|---|---|
| NEW YORK ST DORM AUTH REVS NON 5.5%, due Jul 1, 2054 | 0.11% | 0.12% |
| TEXAS WTR DEV BRD REV 4.75%, due Oct 15, 2055 | 0.11% | 0.10% |
| NEW YORK ST URBAN DEV CORP REV 4%, due Mar 15, 2049 | 0.24% | 0.09% |
| NEW JERSEY ST TPK AUTH TPK REV 5.25%, due Jan 1, 2052 | 0.12% | 0.09% |
| JEFFERSON CNTY ALA SWR REV 5.25%, due Oct 1, 2049 | 0.17% | 0.09% |
| GRAND PARKWAY TRANSN CORP TEX 4%, due Oct 1, 2049 | 0.17% | 0.08% |
| OKLAHOMA TRANSN AUTH OK F/K/A 5.5%, due Jan 1, 2053 | 0.20% | 0.08% |
| JEFFERSON CNTY ALA SWR REV 5.5%, due Oct 1, 2053 | 0.14% | 0.08% |
| MIAMI-DADE CNTY FLA WTR & SWR 5%, due Oct 1, 2055 | 0.11% | 0.07% |
| NEW YORK N Y CITY TRANSITIONAL 5.25%, due Feb 1, 2053 | 0.20% | 0.07% |
| NORTHWEST TEX INDPT SCH DIST 5.25%, due Feb 15, 2055 | 0.07% | 0.08% |
| HOUSTON TEX 5.25%, due Mar 1, 2049 | 0.26% | 0.07% |
| TEXAS WTR DEV BRD REV 4.75%, due Oct 15, 2050 | 0.28% | 0.07% |
| TRIBOROUGH BRDG & TUNL AUTH N 5.25%, due May 15, 2052 | 0.30% | 0.07% |
| TEXAS TRANSN FIN CORP SH 288 S, due Oct 1, 2055 | 0.07% | 0.10% |
| OKLAHOMA TRANSN AUTH OK F/K/A 5.5%, due Jan 1, 2054 | 0.25% | 0.07% |
| SALT RIV PROJ AGRIC IMPT & PWR 5.25%, due Jan 1, 2053 | 0.36% | 0.07% |
| TEXAS TRANSN FIN CORP SH 288 S, due Oct 1, 2050 | 0.16% | 0.07% |
| NEW YORK ST DORM AUTH SALES TA 5%, due Mar 15, 2055 | 0.16% | 0.07% |
| MASSACHUSETTS ST TRANSN FD REV 5%, due Jun 1, 2053 | 0.10% | 0.06% |
| MASSACHUSETTS ST 5%, due May 1, 2053 | 0.15% | 0.06% |
| LOS ANGELES CALIF UNI SCH DIST 4%, due Jul 1, 2044 | 0.11% | 0.06% |
| CALIFORNIA ST 4%, due Sep 1, 2043 | 0.26% | 0.06% |
| SALT RIV PROJ AGRIC IMPT & PWR 5.25%, due Jan 1, 2055 | 0.06% | 0.10% |
| NEW YORK N Y CITY TRANSITIONAL 5%, due May 1, 2051 | 0.12% | 0.06% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · LMUB holdings · PZA holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.