Invesco National AMT-Free Municipal Bond ETFo PZA
Last price
21.52
USD
Change: Down −0.09
Percent change: Down −0.42%
Source: Yahoo Finance (opens in a new tab) Observed · 1 day ago Quotes may be delayed
- Expense ratio
- 0.28%
- Net assets
- $4.1B
- Holdings
- 6,664
- 12-month distribution yield
- 4.11%
- Asset class
- Fixed income
Invesco National AMT-Free Municipal Bond ETFo (PZA) is an exchange-traded fund listed on NYSE Arca in the United States, issued by Invesco. Its category is Fixed income · US (fixed income). Its last price was US$21.52 on 20 Oct 2026. Its expense ratio is 0.28% a year, from its prospectus dated 19 Dec 2025. It reported net assets of US$4.15 billion as of 31 May 2026. Its latest holdings report lists 6,664 holdings as of 31 May 2026. Over the last 12 months it paid distributions of US$0.89 a unit, a 12-month distribution yield of 4.11%, paid monthly.
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Fees
- Total annual operating expenses (gross)
- 0.28%
- Net, after fee waivers or reimbursements
- No waiver stated
- Management fee
- 0.28%
- Prospectus date
- 19 Dec 2025
- Filed with the SEC
- 18 Dec 2025
Size and reporting
- Net assets
- $4,147,948,884
- Total assets
- $4,163,330,756
- Holdings as of
- 31 May 2026
- Report made public
- 29 Jul 2026 (59 days after the month end)
Top holdings
Largest 25 of 6,664 positions, as of 31 May 2026. Weight is the percent of net assets the fund reported.
| # | Holding | Identifier | Weight | Value (USD) | Type | Country | Currency |
|---|---|---|---|---|---|---|---|
| 1 | California (State of) Health Facilities Financing Authority (Kaiser Permanente) California (State of) Health Facilities Financing Authority (Kaiser Permanente), Subseries 2017 A-2, RB | US13032UMN53 | 0.13% | $5.5M | Debt | United States | USD |
| 2 | New York (State of) Dormitory Authority New York (State of) Dormitory Authority, Series 2024 A, Ref. RB | US65000BW384 | 0.12% | $4.8M | Debt | United States | USD |
| 3 | New York (State of) Dormitory Authority New York (State of) Dormitory Authority, Series 2020 D, Ref. RB | US64990FPV03 | 0.11% | $4.5M | Debt | United States | USD |
| 4 | Salt River Project Agricultural Improvement & Power District Salt River Project Agricultural Improvement & Power District, Series 2025 C, RB | US79574CHJ53 | 0.10% | $4.3M | Debt | United States | USD |
| 5 | Texas Water Development Board Texas Water Development Board, Series 2025, RB | US88285AKD99 | 0.10% | $4.3M | Debt | United States | USD |
| 6 | Regents of the University of California Medical Center Regents of the University of California Medical Center, Series 2022 P, RB | US913366KS81 | 0.10% | $4.2M | Debt | United States | USD |
| 7 | Regents of the University of California Medical Center Regents of the University of California Medical Center, Series 2022 P, RB | US913366KT64 | 0.10% | $4.1M | Debt | United States | USD |
| 8 | Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group) Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group), Series 2025, Ref. RB | US68450LJQ95 | 0.10% | $4.0M | Debt | United States | USD |
| 9 | Texas Transportation Finance Corp. Texas Transportation Finance Corp., Series 2025, RB | US88283PAP27 | 0.09% | $3.9M | Debt | United States | USD |
| 10 | Triborough Bridge & Tunnel Authority Triborough Bridge & Tunnel Authority, Series 2021 A-1, Ref. RB | US89602HAB33 | 0.09% | $3.9M | Debt | United States | USD |
| 11 | California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center), Series 2021 A, Ref. RB | US13032UB236 | 0.09% | $3.9M | Debt | United States | USD |
| 12 | New York State Urban Development Corp. New York State Urban Development Corp., Series 2020 A, RB | US650036AP19 | 0.09% | $3.9M | Debt | United States | USD |
| 13 | San Diego Unified School District (Election of 2012) San Diego Unified School District (Election of 2012), Series 2017 I, GO Bonds | US7973555X82 | 0.09% | $3.8M | Debt | United States | USD |
| 14 | Lower Alabama Gas District (The) Lower Alabama Gas District (The), Series 2016 A, RB | US547804AE44 | 0.09% | $3.7M | Debt | United States | USD |
| 15 | New Jersey (State of) Turnpike Authority New Jersey (State of) Turnpike Authority, Series 2022 B, RB | US646140EU35 | 0.09% | $3.7M | Debt | United States | USD |
| 16 | Chicago (City of), IL Board of Education Chicago (City of), IL Board of Education, Series 2016, RB | US167510AA40 | 0.09% | $3.6M | Debt | United States | USD |
| 17 | California (State of) Educational Facilities Authority California (State of) Educational Facilities Authority, Series 2025 A, RB | US130179YE89 | 0.09% | $3.6M | Debt | United States | USD |
| 18 | Jefferson (County of), AL Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | US472682ZR71 | 0.09% | $3.6M | Debt | United States | USD |
| 19 | California (State of) Educational Facilities Authority (Stanford University) California (State of) Educational Facilities Authority (Stanford University), Series 2019 V-1, RB | US130179SD70 | 0.09% | $3.6M | Debt | United States | USD |
| 20 | New York (State of) Dormitory Authority New York (State of) Dormitory Authority, Series 2024 A, Ref. RB | US64990KFX63 | 0.09% | $3.5M | Debt | United States | USD |
| 21 | New Jersey Transportation Trust Fund Authority New Jersey Transportation Trust Fund Authority, Series 2025 AA, RB | US64613CHS08 | 0.09% | $3.5M | Debt | United States | USD |
| 22 | Miami-Dade (County of), FL Miami-Dade (County of), FL, Series 2019 B, RB | US59334DLV46 | 0.08% | $3.5M | Debt | United States | USD |
| 23 | Grand Parkway Transportation Corp. Grand Parkway Transportation Corp., Series 2020, Ref. RB | US38611TCC99 | 0.08% | $3.5M | Debt | United States | USD |
| 24 | Metropolitan Washington Airports Authority Metropolitan Washington Airports Authority, Series 2019 B, Ref. RB | US592643DF41 | 0.08% | $3.4M | Debt | United States | USD |
| 25 | Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion), Series 2020, Ref. RB | US592250DM38 | 0.08% | $3.4M | Debt | United States | USD |
Breakdowns
Sums of reported weights over every position in the report. Totals can differ from 100% because of derivatives, borrowing and cash.
Asset type
| Type | Weight | Bar |
|---|---|---|
| Debt | 95.79% |
Country
| Country | Weight | Bar |
|---|---|---|
| United States | 95.79% |
Currency exposure
| Currency | Weight | Bar |
|---|---|---|
| US dollar (USD) | 95.79% |
Sector
No sector data
None of this fund's holdings matched a stock listed on this site, so no sector is shown.
Source: SEC Form N-PORT (opens in a new tab) Holdings as of
Distributions
- Paid in the last 12 months
- $0.8850
- 12-month yield
- 4.11%
- Frequency
- Monthly
- Latest ex-date
- 19 Oct 2026
12-month yield = distributions per unit with an ex-date in the last 12 months ($0.8850) ÷ latest price ($21.52) × 100 = 4.11%. It looks back, so it is not a forecast; special distributions in the window are included.
Why a distribution yield is not the fund's return: yield vs total return
Distribution history table (60 payments)
| Ex-date | Amount per unit |
|---|---|
| 19 Oct 2026 | $0.0780 |
| 21 Sep 2026 | $0.0750 |
| 24 Aug 2026 | $0.0760 |
| 20 Jul 2026 | $0.0750 |
| 22 Jun 2026 | $0.0730 |
| 18 May 2026 | $0.0730 |
| 20 Apr 2026 | $0.0720 |
| 23 Mar 2026 | $0.0710 |
| 23 Feb 2026 | $0.0680 |
| 20 Jan 2026 | $0.0730 |
| 22 Dec 2025 | $0.0800 |
| 24 Nov 2025 | $0.0710 |
| 20 Oct 2025 | $0.0700 |
| 22 Sep 2025 | $0.0680 |
| 18 Aug 2025 | $0.0690 |
| 21 Jul 2025 | $0.0690 |
| 23 Jun 2025 | $0.0670 |
| 19 May 2025 | $0.0680 |
| 21 Apr 2025 | $0.0670 |
| 24 Mar 2025 | $0.0660 |
| 24 Feb 2025 | $0.0630 |
| 21 Jan 2025 | $0.0650 |
| 23 Dec 2024 | $0.0640 |
| 18 Nov 2024 | $0.0620 |
| 21 Oct 2024 | $0.0650 |
| 23 Sep 2024 | $0.0650 |
| 19 Aug 2024 | $0.0620 |
| 22 Jul 2024 | $0.0670 |
| 24 Jun 2024 | $0.0660 |
| 20 May 2024 | $0.0640 |
| 22 Apr 2024 | $0.0630 |
| 18 Mar 2024 | $0.0630 |
| 20 Feb 2024 | $0.0590 |
| 22 Jan 2024 | $0.0620 |
| 18 Dec 2023 | $0.0640 |
| 20 Nov 2023 | $0.0620 |
| 23 Oct 2023 | $0.0580 |
| 18 Sep 2023 | $0.0540 |
| 21 Aug 2023 | $0.0600 |
| 24 Jul 2023 | $0.0590 |
| 20 Jun 2023 | $0.0590 |
| 22 May 2023 | $0.0590 |
| 24 Apr 2023 | $0.0590 |
| 20 Mar 2023 | $0.0580 |
| 21 Feb 2023 | $0.0570 |
| 23 Jan 2023 | $0.0560 |
| 19 Dec 2022 | $0.0560 |
| 21 Nov 2022 | $0.0540 |
| 24 Oct 2022 | $0.0520 |
| 19 Sep 2022 | $0.0520 |
| 22 Aug 2022 | $0.0510 |
| 18 Jul 2022 | $0.0510 |
| 21 Jun 2022 | $0.0510 |
| 23 May 2022 | $0.0500 |
| 18 Apr 2022 | $0.0500 |
| 21 Mar 2022 | $0.0500 |
| 22 Feb 2022 | $0.0500 |
| 24 Jan 2022 | $0.0500 |
| 20 Dec 2021 | $0.0510 |
| 22 Nov 2021 | $0.0520 |
Filings and sources
- Form N-PORT report for May 2026 (opens in a new tab)
- Prospectus filing with the fee table (opens in a new tab)
- All SEC filings for this fund series (S000019245) (opens in a new tab)
- Nasdaq Trader symbol directory (opens in a new tab)
- Yahoo Finance quote and distributions (opens in a new tab)
- How the ETF figures are collected
Compare with
Largest funds in the same category:
- PZA and BND Vanguard Total Bond Market ETF
- PZA and AGG iShares Core U.S. Aggregate Bond ETF
- PZA and VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares
- PZA and BSV Vanguard Short-Term Bond ETF