MUNI vs PZA
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund 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
1%
61 shared positions
Fee gap
7 bp
PZA is cheaper
1-year return gap
3.6 pts
MUNI is ahead
Larger fund
PZA
$4.1B
Side by side
| MUNI | PZA | |
|---|---|---|
| Fund | PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | PIMCO | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.35% | 0.28% |
| Assets | $3.5B | $4.1B |
| Average daily dollar volume | $76M | $100M |
| Listed | Nov 30, 2009 | Oct 11, 2007 |
| FrenzyCap score | 72 | 80 |
| 1-month return | −0.2% | −1.5% |
| 3-month return | −2.2% | −5.5% |
| Year to date | −3.8% | −6.9% |
| 1-year return | −4.1% | −7.7% |
| 30-day volatility | 5.7% | 8.8% |
| Worst drawdown, 1 year | −7.6% | −10.4% |
| Trailing 12-month yield | 3.41% | 4.10% |
| Holdings | 727 | 6,664 |
| Top 10 weight | 9.3% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$296M thru Jun 2026 | +$400M thru May 2026 |
| 30-day implied volatility | 5.5% | 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
9% of MUNI · 2% of PZA| Holding | MUNI | PZA |
|---|---|---|
| ILLINOIS ST TOLL HWY 5%, due Jan 1, 2045 | 0.41% | 0.08% |
| CO ST HLTH FACS AUTH 5%, due Aug 1, 2044 | 0.20% | 0.08% |
| TRIBOROUGH BRIDGE-REV 5.25%, due May 15, 2052 | 0.24% | 0.07% |
| MO HLTH & EDU FAC 4%, due Nov 15, 2042 | 0.07% | 0.07% |
| CALIFORNIA ST-REF 4%, due Sep 1, 2043 | 0.08% | 0.06% |
| NY TRANS FIN AUTH-E 5%, due Nov 1, 2053 | 0.63% | 0.06% |
| NYC TRANSITIONAL FIN 5.5%, due Nov 1, 2045 | 0.06% | 0.06% |
| WI HLTH & EDU FAC-REF 4%, due Aug 15, 2047 | 0.08% | 0.05% |
| SAN ANTONIO-A-REV 5.25%, due Feb 1, 2049 | 0.08% | 0.05% |
| CLARK CO-A 5%, due May 1, 2048 | 0.13% | 0.05% |
| TRIBOROUGH BRIDGE-A 5.25%, due May 15, 2062 | 0.14% | 0.04% |
| CALIFORNIA ST HLTH-A 5%, due Nov 15, 2044 | 0.04% | 0.04% |
| DASNY-C-REF 5.25%, due Mar 15, 2050 | 0.32% | 0.04% |
| TX WTR DEV BRD-A -REV 4.875%, due Oct 15, 2048 | 0.13% | 0.04% |
| WASHINGTON DC MET-B 5%, due Jul 1, 2042 | 0.16% | 0.04% |
| TARRANT CNTY TX CULTU 5%, due Jul 1, 2048 | 0.12% | 0.03% |
| DASNY-A 5%, due Mar 15, 2053 | 0.24% | 0.03% |
| COLORADO ST HLTH FACS 4%, due Nov 15, 2043 | 0.05% | 0.03% |
| NY CITY TRANS FIN-F-1, due Feb 1, 2050 | 0.61% | 0.03% |
| MASSACHUSETTS ST-A 5.25%, due Apr 1, 2047 | 0.06% | 0.03% |
| ENERGY N W WA-SER A 5%, due Jul 1, 2043 | 0.14% | 0.03% |
| PA TURNPIKE COMMN 5%, due Dec 1, 2044 | 0.05% | 0.03% |
| E BATON ROUGE PARISH 4%, due Feb 1, 2045 | 0.33% | 0.03% |
| PA TPK COMMISSION-B 5.25%, due Dec 1, 2050 | 0.08% | 0.03% |
| NY DORM AUTH -A 5%, due Mar 15, 2044 | 0.07% | 0.03% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · MUNI 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.