20-Feb-2026
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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 February 20, 2026, PZA stock price climbed to $23.51 with 802,814 million shares trading.
PZA has a beta of -0.11, meaning it tends to be less sensitive to market movements. PZA has a correlation of 0.07 to the broad based SPY ETF.
PZA has a market cap of $3.71 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 +2.8%, while the SPY ETF gained +14.1%. In the last 3 month period, PZA fell short of the market, returning +1.8%, while SPY returned +6.0%. However, in the most recent 2 weeks PZA has outperformed the stock market by returning +0.7%, while SPY returned -0.2%.
PZA support price is $23.44 and resistance is $23.56 (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.
