PZA vs TAXE
Invesco National AMT-Free Municipal Bond ETF against Intermediate Municipal Income ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
0%
27 shared positions
Fee gap
4 bp
TAXE is cheaper
1-year return gap
4.0 pts
TAXE is ahead
Larger fund
PZA
$4.1B
Side by side
| PZA | TAXE | |
|---|---|---|
| Fund | Invesco National AMT-Free Municipal Bond ETF | Intermediate Municipal Income ETF |
| Issuer | Invesco | Intermediate |
| Category | National Muni | National Muni |
| Expense ratio | 0.28% | 0.24% |
| Assets | $4.1B | $190M |
| Average daily dollar volume | $100M | $9.6M |
| Listed | Oct 11, 2007 | Jul 9, 2024 |
| FrenzyCap score | 80 | 64 |
| 1-month return | −1.5% | −0.0% |
| 3-month return | −5.5% | −2.2% |
| Year to date | −6.9% | −3.5% |
| 1-year return | −7.7% | −3.8% |
| 30-day volatility | 8.8% | 5.7% |
| Worst drawdown, 1 year | −10.4% | −7.5% |
| Trailing 12-month yield | 4.10% | 3.80% |
| Holdings | 6,664 | 579 |
| Top 10 weight | 1.0% | 9.0% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$400M thru May 2026 | +$36M thru Jul 2026 |
| 30-day implied volatility | 9.4% | — |
| Holdings as of | as of May 31, 2026SEC filing | as of Jul 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
0% of PZA · 7% of TAXE| Holding | PZA | TAXE |
|---|---|---|
| Denton Independent School District 5%, due Aug 15, 2048 | 0.04% | 0.24% |
| Illinois State Toll Highway Authority 5%, due Jan 1, 2047 | 0.03% | 0.28% |
| Michigan (State of) Finance Authority (Henry Ford Health System) 5%, due Nov 15, 2041 | 0.03% | 0.39% |
| New York (City of), NY Transitional Finance Authority 5.25%, due Feb 1, 2047 | 0.03% | 0.55% |
| Michigan (State of) Finance Authority (Beaumont Health Credit Group) 5%, due Nov 1, 2044 | 0.03% | 0.10% |
| Metropolitan Washington Airports Authority 5%, due Oct 1, 2044 | 0.03% | 0.13% |
| Kentucky (Commonwealth of) Economic Development Finance Authority (Owensboro Health, Inc.) 5%, due Jun 1, 2045 | 0.03% | 0.11% |
| Kentucky (Commonwealth of) Economic Development Finance Authority (Owensboro Health, Inc.) 5.25%, due Jun 1, 2041 | 0.02% | 0.21% |
| Washington Metropolitan Area Transit Authority (Green Bonds) 5%, due Jul 15, 2048 | 0.02% | 0.27% |
| Board of Regents of the University of Texas System 5%, due Aug 15, 2043 | 0.02% | 0.04% |
| New York City Transitional Finance Authority Future Tax Secured Revenue 5%, due Nov 1, 2044 | 0.02% | 0.14% |
| Rockingham (County of), VA Economic Development Authority (Sentara RHM Medical Center) 3%, due Nov 1, 2046 | 0.02% | 0.12% |
| Washington (State of) 5%, due Aug 1, 2042 | 0.01% | 0.29% |
| South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group) 5%, due Aug 15, 2047 | 0.01% | 0.10% |
| New York (City of), NY Transitional Finance Authority 5.25%, due May 1, 2045 | 0.01% | 0.60% |
| Cuyahoga (County of), OH (MetroHealth System) 5%, due Feb 15, 2042 | 0.01% | 0.14% |
| Sarasota (County of), FL Public Hospital District (Sarasota Memorial Hospital) 5%, due Jul 1, 2041 | 0.01% | 0.04% |
| Oklahoma (State of) Turnpike Authority 5%, due Jan 1, 2043 | 0.01% | 0.34% |
| Connecticut State Health & Educational Facilities Authority 5%, due Jul 1, 2043 | 0.01% | 0.10% |
| Delaware (State of) Health Facilities Authority (Beebe Medical Center) 5%, due Jun 1, 2043 | 0.01% | 0.01% |
| Indiana Finance Authority 5%, due Nov 15, 2042 | 0.00% | 0.83% |
| Commonwealth of Massachusetts 5%, due Apr 1, 2042 | 0.00% | 0.28% |
| Wisconsin (State of) Health & Educational Facilities Authority (Marshfield Clinic Health System) 5%, due Feb 15, 2042 | 0.00% | 0.10% |
| State of Connecticut Special Tax Revenue 5.25%, due Jul 1, 2043 | 0.00% | 0.57% |
| Colorado (State of) 6%, due Dec 15, 2041 | 0.00% | 0.72% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · PZA holdings · TAXE 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.