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The Invesco National AMT-Free Municipal Bond ETF (Fund) is based on The ICE BofAML National Long-Term Core Plus Municipal Securities Index (Index). The Fund generally will invest at least 80% of its total assets in municipal securities that comprise the Index and that also are exempt from the federal alternative minimum tax. The Index is composed of US dollar-denominated, investment grade, tax-exempt debt publicly issued by US. states and territories, or their political subdivisions, in the US domestic market with a term of at least 15 years remaining to final maturity. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund and the Index are rebalanced and reconstituted monthly.
Invesco National Amt-Free Municipal Bond ETF trades on the ARCA stock market under the symbol PZA.
As of March 20, 2026, PZA stock price declined to $22.98 with 1,468,944 million shares trading.
PZA has a beta of -0.12, meaning it tends to be less sensitive to market movements. PZA has a correlation of 0.08 to the broad based SPY ETF.
PZA has a market cap of $3.83 billion. This is considered a Mid Cap stock.
In the last 3 years, PZA traded as high as $24.34 and as low as $21.49.
PZA has underperformed the market in the last year with a return of +2.3%, while SPY returned +15.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in PZA shares. However, PZA has outperformed the market in the last 3 month and 2 week periods, returning +0.2% and -1.5%, while SPY returned -5.0% and -5.1%, respectively. This indicates PZA has been having a stronger performance recently.
PZA support price is $23.21 and resistance is $23.35 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PZA shares will trade within this expected range on the day.
