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ETFs

Invesco New York AMT-Free Municipal Bond ETF

PZT
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Oct 11 2007
Expense Ratio
0.28%
Type
US Bonds
Fund Owner
Invesco
Volume (1m avg. daily)
$268,074
AUM
$86,791,640
Associated Index
ICE BofA Merrill Lynch New York Long-Term Core Plus Municipal Securities Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
New York Power Authority
4.25%
n/a
Battery Park City Authority
3.05%
n/a
Triborough Bridge & Tunnel Authority
3.02%
n/a
New York State Dormitory Authority
2.69%
n/a
City of New York NY
2.46%
n/a
New York City Municipal Water Finance Authority
2.42%
n/a
Long Island Power 5 % Bonds 2016-01.09.41 General Series 2016B
2.37%
n/a
New York Convention Center Development Corp
2.35%
n/a
NY Convention 5 % Bonds 2015-15.11.40 Refunding Hotel Unit Fee Secured Series 2015
2.23%
n/a
New York City Municipal Water Finance Authority
2.18%
Invest with PZT

What is PZT?

The Invesco New York AMT-Free Municipal Bond ETF (Fund) is based on The ICE BofAML New York 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 New York or any US territory, 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.

ETFs related toPZT

ETFs correlated to PZT include SCMB, JMUB, MMIT

PZT
Invesco Capital Management LLC - Invesco New York AMT-Free Municipal Bond ETF
SCMB
Schwab Strategic Trust - Schwab Municipal Bond ETF
JMUB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Municipal ETF
MMIT
IndexIQ Active ETF Trust - IQ MacKay Municipal Intermediate ETF
VTEB
Vanguard Group, Inc. - Vanguard Tax-Exempt Bond ETF
MMIN
IndexIQ Active ETF Trust - IQ MacKay Municipal Insured ETF
MUNI
Pimco Exchange Traded Fund - PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
CMF
BlackRock Institutional Trust Company N.A. - iShares California Muni Bond ETF
NYF
BlackRock Institutional Trust Company N.A. - iShares New York Muni Bond ETF
PWZ
Invesco Capital Management LLC - Invesco California AMT-Free Municipal Bond ETF
CGMU
Capital Group Fixed Income ETF Trust - Capital Group Municipal Income ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

PZT is a US Bonds ETF. The Invesco New York AMT-Free Municipal Bond ETF (Fund) is based on The ICE BofAML New York 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 New York or any US territory, 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.

PZT tracks the ICE BofA Merrill Lynch New York Long-Term Core Plus Municipal Securities Index.

No, PZT is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, PZT is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PZT is -0.0242%. This is the percent change in the value of PZT over the most recent 1-month period. The 3-month return on PZT is -0.0533%. This is the percent change in the value of PZT over the most recent 3-month period.

The standard deviation of PZT for the past year is 0.0672%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PZT include SUB, HYD, and MUB.

ETFs correlated to PZT include SCMB, JMUB, and MMIT.

ETFs that are inversely correlated to PZT include TBT, TTT, and TMV.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.