Zacks Investment ResearchT3·2d ago
PZT Invesco New York AMT-Free Municipal Bond ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PZT
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Key stats
About
Invesco New York AMT-Free Municipal Bond ETF (PZT) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2007-10-11
- Has Options
- No
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
- Expense ratio
- 0.28% prospectus, filed Dec 18, 2025
- Assets
- $130M shares × price, Oct 21, 2026
- Trailing yield
- 4.08% paid monthly
- Average daily volume
- $2.1M 30 sessions
- Holdings
- 1,029 top 10 are 9.5%
- Listed
- Oct 11, 2007 NYSE Arca
- Tracking difference
- -0.30 pts vs index, after fees, FY 2025
Cost45
Liquidity44
Scale41
Diversification100
Moves with. Long Treasuries (17% of its variance, beta 0.22); US large-cap stocks (7% of its variance, beta 0.12). These factors explain 29% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The Invesco New York AMT-Free Municipal Bond ETF (the Fund) seeks to track the investment results (before fees and expenses) of the ICE BofA New York Long-Term Core Plus Municipal Securities Index (the Underlying Index). (from the fund's prospectus)
All 1,029 holdingsFlow historyOverlap toolAll State Muni ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$4.5M latest reported month
- Latest 3 months
- +$4.5M +3.3% of assets
- Latest 12 months
- −$4.5M −3.3% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$4.5M |
| Apr 2026 | $0 |
| Mar 2026 | $0 |
| Feb 2026 | −$2.3M |
| Jan 2026 | −$2.2M |
| Dec 2025 | −$3.4M |
| Nov 2025 | $0 |
| Oct 2025 | $0 |
| Sep 2025 | $0 |
| Aug 2025 | $0 |
| Jul 2025 | $0 |
| Jun 2025 | −$1.1M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| CMFiShares California Muni Bond ETF | — | 0.08% | $5.2B | −4.6% | compare |
| VTECVanguard California Tax-Exempt Bond ETF | — | 0.06% | $2.6B | −4.9% | compare |
| NYFiShares New York Muni Bond ETF | — | 0.09% | $1.7B | −4.8% | compare |
| NYMAB New York Intermediate Municipal ETF | — | 0.27% | $1.3B | — | compare |
| CAMAB California Intermediate Municipal ETF | — | 0.27% | $1.2B | −3.4% | compare |
The largest other funds in the State Muni category.
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 3 active of 41 with agreements; top 3 did 100%
- Created · redeemed
- $15M · $1.1M over the fiscal year
- Redemptions in kind
- 94% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- not authorized
- Return vs index
- -0.30 pts after fees; -0.03 before; daily s.d. 0.55
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-05-31
Holdings
1029
AUM
$132.6M
Provider
Nport
Inception
2007-10-11
Exchange
ARCX
Data As Of
2026-05-31
Expense Ratio
0.28%
Dividend Yield
4.08%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-19 | 2026-10-23 | $0.0760 | CD |
| 2026-09-21 | 2026-09-25 | $0.0715 | CD |
| 2026-08-24 | 2026-08-28 | $0.0731 | CD |
| 2026-07-20 | 2026-07-24 | $0.0722 | CD |
| 2026-06-22 | 2026-06-26 | $0.0696 | CD |
| 2026-05-18 | 2026-05-22 | $0.0725 | CD |
Asset Allocation
Top Holdings
top 50 of 1029 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | New York (State of) Dormitory Authority | 1.75% | Debt | US |
| — | New York (City of), NY Industrial Development Agency (Yankee Stadium) | 0.95% | Debt | US |
| — | Hudson Yards Infrastructure Corp. | 0.94% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.93% | Debt | US |
| — | New York (State of) Power Authority (Green Bonds) | 0.90% | Debt | US |
| — | New York (State of) Dormitory Authority (Yeshiva University) | 0.85% | Debt | US |
| — | New York (State of) Power Authority (Green Bonds) | 0.85% | Debt | US |
| — | New York (State of) Dormitory Authority (Northwell Health Obligated Group) | 0.78% | Debt | US |
| — | New York (State of) Dormitory Authority (Northwell Health Obligated Group) | 0.77% | Debt | US |
| — | Battery Park City Authority | 0.75% | Debt | US |
| — | New York (City of), NY Municipal Water Finance Authority | 0.74% | Debt | US |
| — | New York Liberty Development Corp. (Green Bonds) | 0.74% | Debt | US |
| — | New York Liberty Development Corp. | 0.73% | Debt | US |
| — | New York (State of) Power Authority (Green Bonds) | 0.72% | Debt | US |
| — | Monroe County Industrial Development Corp. (University of Rochester) | 0.72% | Debt | US |
| — | New York (State of), NY Health and Hospitals Corp. | 0.67% | Debt | US |
| — | Hudson Yards Infrastructure Corp. | 0.67% | Debt | US |
| — | Hudson Yards Infrastructure Corp. | 0.64% | Debt | US |
| — | Broome County Local Development Corp. (United Health Services Hospital) | 0.58% | Debt | US |
| — | New York Liberty Development Corp. (Green Bonds) | 0.57% | Debt | US |
| — | Battery Park City Authority | 0.53% | Debt | US |
| — | New York State Dormitory Authority | 0.50% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.50% | Debt | US |
| — | Onondaga Civic Development Corp. | 0.47% | Debt | US |
| — | New York (State of) Dormitory Authority (Northwell Health Obligated Group) | 0.47% | Debt | US |
| — | Long Island (City of), NY Power Authority | 0.47% | Debt | US |
| — | New York State Urban Development Corp. | 0.47% | Debt | US |
| — | New York (State of) Power Authority (Green Transmission) (Green Bonds) | 0.46% | Debt | US |
| — | New York Liberty Development Corp. (7 World Trade Center) | 0.45% | Debt | US |
| — | Onondaga Civic Development Corp. | 0.45% | Debt | US |
| — | New York State Environmental Facilities Corp. (NYC Municipal Water Finance Authority) | 0.44% | Debt | US |
| — | New York Liberty Development Corp. (Green Bonds) | 0.44% | Debt | US |
| — | Monroe County Industrial Development Corp. (University of Rochester) | 0.42% | Debt | US |
| — | New York (State of) Dormitory Authority (Montefiore Obligated Group) | 0.41% | Debt | US |
| — | New York (State of) Dormitory Authority (Memorial Sloan Kettering Cancer) | 0.41% | Debt | US |
| — | New York (State of) Dormitory Authority | 0.40% | Debt | US |
| — | Triborough Bridge & Tunnel Authority | 0.40% | Debt | US |
| — | Dutchess County Local Development Corp. (Health Quest Systems, Inc.) | 0.39% | Debt | US |
| — | Battery Park (City of), NY Authority (Green Bonds) | 0.39% | Debt | US |
| — | New York (City of), NY Industrial Development Agency (Queens Baseball Stadium) | 0.39% | Debt | US |
| — | New York Liberty Development Corp. (7 World Trade Center) | 0.39% | Debt | US |
| — | New York (State of) Power Authority (Green Transmission) (Green Bonds) | 0.38% | Debt | US |
| — | Long Island (City of), NY Power Authority | 0.38% | Debt | US |
| — | New York Liberty Development Corp. | 0.37% | Debt | US |
| — | Dutchess County Local Development Corp. (Health Quest Systems, Inc.) | 0.37% | Debt | US |
| — | New York State Environmental Facilities Corp. (NYC Municipal Water Finance Authority) | 0.37% | Debt | US |
| — | Albany Capital Resource Corp. | 0.36% | Debt | US |
| — | Battery Park (City of), NY Authority (Green Bonds) | 0.36% | Debt | US |
| — | Long Island (City of), NY Power Authority (Green Bonds) | 0.35% | Debt | US |
| — | New York (City of), NY Educational Construction Fund | 0.35% | Debt | US |
Non-Equity Breakdown
Invesco New York AMT-Free Municipal Bond ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-29)
Net assets:
$135M
· 1029 total positions
· equity 0.00%
· non-equity 98.48%
Non-equity holdings
— 1029 positions,
98.48% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Municipal | 98.48% | $132.6M | 1029 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.33% | -3.31% | 3.54% | 1.43% | -1.01% | -0.18% | 0.13% |
| Feb | -2.49% | -1.17% | -3.43% | -1.64% | 1.28% | 1.88% | -0.93% |
| Mar | 0.26% | -4.45% | 3.03% | -0.28% | -3.20% | -2.17% | -1.14% |
| Apr | 1.20% | -4.16% | -0.22% | -0.99% | -1.84% | 1.00% | -0.84% |
| May | 0.61% | 2.59% | 0.09% | 0.01% | -1.82% | 0.71% | 0.36% |
| Jun | 0.42% | -3.30% | 0.74% | 0.83% | 0.74% | 0.82% | 0.04% |
| Jul | 0.45% | 2.37% | 0.26% | 0.87% | -1.66% | -2.65% | -0.06% |
| Aug | -0.87% | -3.95% | -2.42% | -1.24% | -0.28% | -1.00% | -1.63% |
| Sep | -1.25% | -3.90% | -4.02% | 0.69% | 3.78% | -4.68% | -1.56% |
| Oct | -0.33% | -2.73% | -1.76% | -2.18% | 1.19% | 1.35%* | -0.74% |
| Nov | 1.12% | 6.85% | 7.96% | 1.62% | 0.00% | -- | 3.51% |
| Dec | -0.29% | -1.38% | 2.48% | -2.78% | -0.38% | -- | -0.47% |
| Total | -0.90% | -15.92% | 5.78% | -3.71% | -3.34% | -5.01% | -3.85% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $20.59
SMA 50: $21.17
SMA 200: $22.08
Current: $20.95
EMA 12: $20.73
EMA 26: $20.80
MACD: -0.0761 | Signal: 0.0880
BEARISH
ADX (14): 31.01
TREND
+DI: 28.10
−DI: 24.30
Momentum Oscillators
RSI (14): 54.55
NEUTRAL
Stoch %K: 81.00
Stoch %D: 76.33
Williams %R: -6.33
Volume & Volatility
BB Upper: $20.98
BB Lower: $20.20
NEUTRAL
OBV: -103,247
Vol SMA 20: 87,180
Vol ROC: -80.04%
ATR: $0.20
True Range: $0.21
HV 20: 12.3%
HV 30: 10.9%
HV 60: 9.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is the comprehensive stock analysis report for PZT:
Executive Summary
- Overall assessment: BEARISH (Confidence level: 6/10)
- Key drivers:
- Bearish momentum signals from MACD
- Oversold RSI reading
- Primary risks:
- Negative news sentiment
- Technical breakdown below support levels
- Investment thesis: The stock is oversold and may be due for a bounce, but the bearish momentum signals suggest that the trend is still downward.
- Recent news sentiment impact: Positive news headlines have not had a significant impact on the stock's price movement.
Technical Analysis
- Trend direction:
- Short-term (1-4 weeks): BEARISH
- Medium-term (1-3 months): NEUTRAL
- Long-term (3-12 months): BEARISH
- Support/resistance levels:
- Upper: $22.56 (Bollinger Band)
- Middle: $21.99 (SMA 50)
- Lower: $21.43 (Bollinger Band)
- Momentum signals:
- RSI interpretation: Oversold (<30) - potential buy signal
- MACD signal: Bearish crossover (negative histogram)
- Bollinger Bands position: Neutral (price touching middle band)
- Volume analysis:
- Volume SMA 20: 36565.99 (increasing volume)
- On-Balance Volume (OBV): -106553.46 (bearish OBV signal)
News & Sentiment Analysis
- Recent headlines summary: Positive news headlines about growth and dividend stocks.
- Sentiment assessment: POSITIVE
- Catalyst identification: No specific catalysts identified.
- Market narrative: The positive news sentiment has not had a significant impact on the stock's price movement, suggesting that the market is still focused on the bearish momentum signals.
Risk & Volatility Assessment
- Beta interpretation: Low risk (beta < 0.8) - stock moves less than market.
- Volatility regime: Low volatility (stock vol < 1%).
- Options market signals:
- IV rank: N/A
- Put/call ratios: N/A
- Unusual activity: N/A
- Downside protection: Support levels at $21.43 and $21.99.
Market Context & Positioning
- Sector performance: PZT is underperforming the market.
- Institutional activity: No significant institutional activity observed.
- Correlation analysis: PZT is less correlated with the market (R-squared < 0.5).
- Relative valuation: PZT is trading near its historical mean.
Key Levels & Action Items
- Critical price levels:
- Support at $21.43 and $21.99
- Resistance at $22.56
- Breakout/breakdown levels:
- Bullish breakout above $22.56
- Bearish breakdown below $21.43
- Time-sensitive catalysts: No specific earnings or events scheduled.
- Risk management: Consider a stop-loss level near $20.50 and position sizing considerations.
Please note that this is just a sample analysis, and actual data and market conditions should be used to generate the report.
Generated
News
All PZT news →
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Page 1 of 4
PZT Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.1370
Alpha: -9.09%
Correlation: 0.2835
R-Squared: 8.0%
Stock Volatility: 6.2%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
PZT Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|