MUNX vs PZA
AMG GW&K Muni Income 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
0%
13 shared positions
Fee gap
1 bp
PZA is cheaper
1-year return gap
—
Larger fund
PZA
$4.1B
Side by side
| MUNX | PZA | |
|---|---|---|
| Fund | AMG GW&K Muni Income ETF | Invesco National AMT-Free Municipal Bond ETF |
| Issuer | AMG | Invesco |
| Category | National Muni | National Muni |
| Expense ratio | 0.29% | 0.28% |
| Assets | $20M | $4.1B |
| Average daily dollar volume | $79K | $100M |
| Listed | Oct 29, 2025 | Oct 11, 2007 |
| FrenzyCap score | 32 | 80 |
| 1-month return | −0.9% | −1.5% |
| 3-month return | −3.6% | −5.5% |
| Year to date | −4.9% | −6.9% |
| 1-year return | — | −7.7% |
| 30-day volatility | 7.2% | 8.8% |
| Worst drawdown, 1 year | −8.6% | −10.4% |
| Trailing 12-month yield | 3.36% | 4.10% |
| Holdings | 75 | 6,664 |
| Top 10 weight | 23.0% | 1.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$3.0M thru Jun 2026 | +$400M thru May 2026 |
| 30-day implied volatility | — | 9.4% |
| Holdings as of | as of Jun 30, 2026SEC filing | 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
17% of MUNX · 0% of PZA| Holding | MUNX | PZA |
|---|---|---|
| METROPOLITAN PIER & EXPOSITION AUTHORITY (IL) 5%, due Jun 15, 2050 | 0.90% | 0.08% |
| JEFFERSON (AL), COUNTY OF 5.5%, due Oct 1, 2053 | 2.61% | 0.08% |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MA) 5.25%, due Jul 1, 2052 | 1.38% | 0.03% |
| NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY (NJ) 4%, due Jun 15, 2042 | 1.79% | 0.02% |
| HILLSBOROUGH COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (FL) 4%, due Aug 1, 2050 | 0.71% | 0.02% |
| RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP (RI) 5.25%, due May 15, 2054 | 1.19% | 0.02% |
| PALM BEACH CNTY FLA HEALTH FACS AUTH 5%, due Nov 15, 2055 | 0.88% | 0.02% |
| SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SC) 4%, due Dec 1, 2043 | 1.50% | 0.02% |
| MIAMI BEACH HEALTH FACILITIES AUTHORITY (FL) 4%, due Nov 15, 2046 | 0.69% | 0.01% |
| CHICAGO TRANSIT AUTHORITY (IL) 5%, due Dec 1, 2043 | 1.57% | 0.01% |
| PIMA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ) 4%, due Apr 1, 2046 | 0.70% | 0.00% |
| INTERMOUNTAIN POWER AGENCY (UT) 5%, due Jul 1, 2041 | 1.04% | 0.00% |
| MIAMI-DADE COUNTY EDUCATIONAL FACILITIES AUTHORITY (FL) 5%, due Apr 1, 2044 | 1.77% | 0.00% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · MUNX 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.