Invesco National AMT-Free Municipal Bond ETF
PZA
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 3500 Lacey Road Downers Grove United States of America 60515
- IPO Date
- Oct 18, 2007
- CIK
- 0001378872
- Website
- invesco.com
- Similar Companies
- Business
- Invesco National AMT-Free Municipal Bond ETF (PZA) is an exchange-traded fund that seeks to track the ICE AMT-Free Core Plus Municipal Index, composed of U.S. dollar-denominated, investment-grade, tax-exempt municipal debt issued by U.S. states, territories, or their political subdivisions with at least 15 years remaining to maturity; the index constituents are capitalization-weighted based on amount outstanding and rebalanced monthly. The fund employs a sampling methodology to replicate index performance rather than purchasing all securities, providing investors with exposure to a diversified portfolio of approximately 4,300 holdings, including top positions such as Commonwealth of Massachusetts 5.00% due November 2048 and State of California 5.00%, with total net assets exceeding $3.4 billion and shares outstanding around 146 million. PZA offers federal tax-exempt income suitable for high-tax-bracket investors seeking low-risk, broad-maturity municipal bond exposure in the U.S. domestic market, with an emphasis on investment-grade credit quality and no alternative minimum tax (AMT) liability. Launched in 2007 and managed by Invesco Distributors, Inc., headquartered in Atlanta, Georgia, the ETF operates exclusively within the United States fixed income segment targeting individual and institutional investors focused on tax-efficient income generation. Recent developments include Invesco's strategic push into alternative assets targeting 25% of AUM by 2025 through acquisitions and Form 8.3 filings, alongside fund-level changes such as the February 2025 ticker and name shift for a related Rochester high-yield municipal ETF to IROC, reflecting broader municipal portfolio enhancements, and ongoing monthly rebalancing to adapt to market conditions.