PZA vs TAFM
Invesco National AMT-Free Municipal Bond ETF against AB Tax-Aware Intermediate Municipal ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
2%
79 shared positions
Fee gap
0 bp
same fee
1-year return gap
2.6 pts
TAFM is ahead
Larger fund
PZA
$4.1B
Side by side
| PZA | TAFM | |
|---|---|---|
| Fund | Invesco National AMT-Free Municipal Bond ETF | AB Tax-Aware Intermediate Municipal ETF |
| Issuer | Invesco | AllianceBernstein |
| Category | National Muni | National Muni |
| Expense ratio | 0.28% | 0.28% |
| Assets | $4.1B | $612M |
| Average daily dollar volume | $100M | $21M |
| Listed | Oct 11, 2007 | Dec 12, 2023 |
| FrenzyCap score | 80 | 68 |
| 1-month return | −1.5% | −0.6% |
| 3-month return | −5.5% | −3.3% |
| Year to date | −6.9% | −4.3% |
| 1-year return | −7.7% | −5.1% |
| 30-day volatility | 8.8% | 6.5% |
| Worst drawdown, 1 year | −10.4% | −8.2% |
| Trailing 12-month yield | 4.10% | 3.80% |
| Holdings | 6,664 | 585 |
| Top 10 weight | 1.0% | 5.7% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$400M thru May 2026 | +$119M thru May 2026 |
| 30-day implied volatility | 9.4% | — |
| Holdings as of | as of May 31, 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
2% of PZA · 16% of TAFM| Holding | PZA | TAFM |
|---|---|---|
| Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) 5%, due Jun 15, 2050 | 0.08% | 0.16% |
| Triborough Bridge & Tunnel Authority 5.25%, due May 15, 2064 | 0.08% | 0.17% |
| Board of Regents of the University of Texas System 5%, due Aug 15, 2049 | 0.08% | 0.18% |
| New Jersey (State of) Transportation Trust Fund Authority 5.25%, due Jun 15, 2050 | 0.08% | 0.33% |
| County of Miami-Dade FL Water & Sewer System Revenue 5%, due Oct 1, 2055 | 0.07% | 0.34% |
| Triborough Bridge & Tunnel Authority 5.25%, due May 15, 2052 | 0.07% | 0.26% |
| Chicago (City of), IL Transit Authority 5%, due Dec 1, 2049 | 0.07% | 0.59% |
| Massachusetts (Commonwealth of) Development Finance Agency (Boston Medical Center) (Green Bonds) 5%, due Jul 1, 2044 | 0.07% | 0.08% |
| Metropolitan Transportation Authority (Green Bonds) 4.75%, due Nov 15, 2045 | 0.06% | 0.07% |
| Commonwealth of Massachusetts 5%, due Apr 1, 2055 | 0.06% | 0.25% |
| Grand Parkway Transportation Corp. 4%, due Oct 1, 2045 | 0.06% | 0.39% |
| City of Houston TX Hotel Occupancy Tax & Special Revenue 5.5%, due Sep 1, 2058 | 0.05% | 0.34% |
| Massachusetts Bay Transportation Authority Sales Tax Revenue 5.25%, due Jul 1, 2055 | 0.05% | 0.35% |
| Chicago (City of), IL (O'Hare International Airport) 5.25%, due Jan 1, 2053 | 0.05% | 0.17% |
| Washington Metropolitan Area Transit Authority (Green Bonds) 5.25%, due Jul 15, 2053 | 0.05% | 0.38% |
| Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) 4%, due Dec 15, 2042 | 0.05% | 0.22% |
| New York (City of), NY 4%, due Jun 15, 2045 | 0.05% | 0.16% |
| Illinois (State of) 5.5%, due May 1, 2047 | 0.04% | 0.17% |
| Washington Metropolitan Area Transit Authority 5.25%, due Jul 15, 2059 | 0.04% | 0.30% |
| Illinois (State of) Toll Highway Authority 5%, due Jan 1, 2042 | 0.04% | 0.37% |
| Philadelphia (City of), PA 5%, due Nov 1, 2045 | 0.04% | 0.17% |
| Onondaga Civic Development Corp. 5.5%, due Dec 1, 2056 | 0.03% | 0.18% |
| Greater Cincinnati (Port of), OH Development Authority (Duke Energy Corp.) 5%, due Dec 1, 2063 | 0.03% | 0.20% |
| Massachusetts Development Finance Agency 5.5%, due Dec 1, 2051 | 0.03% | 0.17% |
| Metropolitan Transportation Authority (Green Bonds) 5.25%, due Nov 15, 2049 | 0.03% | 0.18% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · PZA holdings · TAFM 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.