PZA vs SCNM
Invesco National AMT-Free Municipal Bond ETF against Sterling Capital National Municipal Bond ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
1%
24 shared positions
Fee gap
7 bp
PZA is cheaper
1-year return gap
—
Larger fund
PZA
$4.1B
Side by side
| PZA | SCNM | |
|---|---|---|
| Fund | Invesco National AMT-Free Municipal Bond ETF | Sterling Capital National Municipal Bond ETF |
| Issuer | Invesco | Sterling |
| Category | National Muni | National Muni |
| Expense ratio | 0.28% | 0.35% |
| Assets | $4.1B | $231M |
| Average daily dollar volume | $100M | $712K |
| Listed | Oct 11, 2007 | Dec 10, 2025 |
| FrenzyCap score | 80 | 41 |
| 1-month return | −1.5% | −1.0% |
| 3-month return | −5.5% | −3.5% |
| Year to date | −6.9% | −4.9% |
| 1-year return | −7.7% | — |
| 30-day volatility | 8.8% | 7.0% |
| Worst drawdown, 1 year | −10.4% | −8.3% |
| Trailing 12-month yield | 4.10% | 2.82% |
| Holdings | 6,664 | 89 |
| Top 10 weight | 1.0% | 17.7% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$400M thru May 2026 | +$32M thru Jun 2026 |
| 30-day implied volatility | 9.4% | — |
| Holdings as of | as of May 31, 2026SEC filing | as of Jun 30, 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
1% of PZA · 25% of SCNM| Holding | PZA | SCNM |
|---|---|---|
| Jefferson (County of), AL 5.5%, due Oct 1, 2053 | 0.08% | 0.96% |
| Metropolitan Transportation Authority (Green Bonds) 5%, due Nov 15, 2050 | 0.07% | 0.94% |
| County of Miami-Dade FL Water & Sewer System Revenue 5%, due Oct 1, 2055 | 0.07% | 1.49% |
| Indiana (State of) Finance Authority (Indiana University Health Obligated Group) 5%, due Oct 1, 2053 | 0.06% | 1.03% |
| North Carolina (State of) Turnpike Authority (Triangle Expressway System) 5%, due Jan 1, 2058 | 0.05% | 1.13% |
| New York (City of), NY 5%, due Sep 1, 2044 | 0.04% | 1.37% |
| Long Beach (City of), CA (Green Bonds) 5%, due May 15, 2048 | 0.04% | 0.88% |
| Spring Independent School District 5.25%, due Aug 15, 2055 | 0.04% | 1.21% |
| Miami-Dade (County of), FL 5.25%, due Oct 1, 2055 | 0.03% | 0.83% |
| New Jersey Economic Development Authority 5%, due Jun 15, 2048 | 0.03% | 1.08% |
| South Carolina (State of) Jobs-Economic Development Authority (McLeod Health) 5.25%, due Nov 1, 2054 | 0.03% | 1.59% |
| City of Portland OR Sewer System Revenue 5%, due Oct 1, 2054 | 0.02% | 0.68% |
| Massachusetts (Commonwealth of) Development Finance Agency (Caregroup) 5%, due Jul 1, 2043 | 0.02% | 1.54% |
| Los Angeles (City of), CA Department of Water & Power 5%, due Jul 1, 2049 | 0.02% | 0.75% |
| Philadelphia (City of), PA 5%, due Oct 1, 2046 | 0.01% | 0.90% |
| West Virginia (State of) Hospital Finance Authority (United Health System Obligated) 5.5%, due Jun 1, 2050 | 0.01% | 0.69% |
| Nash Health Care Systems 5.25%, due Feb 1, 2055 | 0.01% | 0.45% |
| New York (State of) Dormitory Authority 5%, due Mar 15, 2053 | 0.01% | 1.42% |
| Lower Colorado River Authority (LCRA Transmission Services Corp.) 5%, due May 15, 2044 | 0.01% | 0.87% |
| University of Michigan 5%, due Apr 1, 2048 | 0.01% | 1.48% |
| Metropolitan Transportation Authority Dedicated Tax Fund 5%, due Nov 15, 2056 | 0.01% | 0.87% |
| Denver (City & County of), CO 5.25%, due Nov 15, 2053 | 0.00% | 0.91% |
| New York & New Jersey (States of) Port Authority 5%, due Jul 15, 2053 | 0.00% | 1.01% |
| Henrico County Economic Development Authority 5%, due Nov 1, 2048 | 0.00% | 0.90% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · PZA holdings · SCNM 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.