Invesco California AMT-Free Municipal Bond ETFPWZ

InvescoBonds & CashMunicipal#624 of 786 by YTD

$23.31

+0.4% last session

−0.4% YTD

Data as of 11/5/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Dec 31, 2025 – Nov 5, 2026PWZS&P 500 · VOOBonds & Cash average

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.4%	+5.8%	−2.6%	−0.4%	−0.2%	+14.5%	−1.4%	+77.5%
Peer average	+0.3%	+4.1%	−0.5%	+0.9%	+1.2%	+15.4%	+2.9%	—
S&P 500 · VOO	−4.4%	−5.7%	−4.9%	+8.4%	+9.8%	+82.2%	+71.6%	—

Key Statistics

Open all fund facts →

AUM: $1.2B
Expense ratio: 0.28%
Distribution yield: 3.9%
NAV: $23.18
Volume: 408K
Avg. volume 30D: 1.4M
High today: $23.34
Low today: $23.20
Previous close: $23.22
52-week high: $24.59
52-week low: $22.03
Our risk indicator: 2/5

PWZ in One Breath

PWZ Among Municipal ETFs

YTD

#1MMMANY Life Investments+2.7%$59.8M

#2MYMGSPDR+2.4%$8.6M

#3TAXTFlexShares+2.4%$198M

#4SMMUPIMCO+2.3%$1.3B

#5SHYMiShares+2.2%$929M

#6FTMSFranklin Templeton+2.1%$266M

#7MUNAFlexShares+2.0%$8.0M

#8CGSMCapital Group+2.0%$1.7B

#134PWZInvesco−0.4%$1.2B

End-of-day Nov 6, 2026 · 141 Municipal ETFs by YTD

$10,000 in PWZ

$10,000 in PWZ became

$9,856

In the S&P 500 (VOO)

$17,156

Total return, dividends in · Oct 28, 2021 – Nov 5, 2026 · S&P 500 uses VOO

PWZ’s Top Holdings

Today

USD Pending DiPending Dividends1.2%California H0.8%California H0.7%Regents of t0.6%California H0.6%California E0.5%Regents of t0.5%California E0.5%Los Angeles 0.4%University o0.4%Los Angeles 0.4%San Diego Un0.4%Foothill-Eas0.4%San Diego Co0.4%University o0.4%University o0.4%California E0.4%San Francisc0.4%City of San 0.3%California E0.3%San Francisc0.3%California H0.3%

Invesco PWZ · 1,305 holdings · top 22 shown · tile size = share of the fund · as of Nov 5, 2026

What PWZ Holds

Today

All holdings100.0%

USD Pendin 1.2 · California · California · Regents of · California · California · Regents of

Invesco PWZ · share of the fund · as of Nov 5, 2026

Pending’s Share of PWZ

Today

1.2%

$12 of every $1,000 in PWZ is Pending

Pending held by PWZ

$14.7M

Invesco PWZ · each square = $10 of $1,000 · as of Nov 5, 2026

PWZ’s Share of Municipal ETFs

Today

0.5%

of the $245B in 166 Municipal ETFs

PWZ$1.2B0.5%

MUB$54.9B22.4%

VTEB$49.6B20.2%

163 others$140B56.9%

Municipal ETF AUM · Nov 6, 2026

PWZ Fee per $100 vs Peers

Today

$0.28a year
per $100

$28 a year on $10,000

VTEB$0.03

MUB$0.05

SUB$0.07

JMUB$0.18

CGMU$0.27

PWZ$0.28

Expense ratio · Municipal peers · Nov 6, 2026

Inside PWZ

1,305 holdings · as of Nov 5, 2026

PWZ

Invesco California AMT-Free Municipal Bond ETF

Today

All holdings100.0%1,291 more holdings92.1% of the fund

All holdings100.0%1,299 more holdings95.6% of the fund

#	Ticker	Company	Weight ▼
1	—	Pending Dividends	1.18%
2	—	California Health Facilities Financing Authority 4.00% 11/01/2044	0.81%
3	—	California Health Facilities Financing Authority 5.00% 11/15/2056	0.67%
4	—	Regents of the University of California Medical Center Pooled Revenue 5.00% 05/15/2047	0.59%
5	—	California Health Facilities Financing Authority 4.00% 08/15/2048	0.57%
6	—	California Educational Facilities Authority 5.00% 10/01/2055	0.52%
7	—	Regents of the University of California Medical Center Pooled Revenue 4.00% 05/15/2053	0.51%
8	—	California Educational Facilities Authority 5.00% 05/01/2049	0.50%
9	—	Los Angeles Department of Water & Power 5.00% 07/01/2050	0.44%
10	—	University of California 5.00% 05/15/2053	0.42%

See all 1,307 holdings ↓

Invesco PWZ · current holdings by weight · as of Nov 5, 2026 · each tile is one holding · top 20 = 10.0%

All PWZ Holdings

1,307 holdings · as of Nov 5, 2026

PWZ

PWZ’s Holdings

Today

#
1	—Pending Dividends	1.18%	$118.29	0	$14.7M
2	—California Health Facilities Financing Authority 4.00% 11/01/2044	0.81%	$81.25	11.3M	$10.1M
3	—Regents of the University of California Medical Center Pooled Revenue 5.00% 05/15/2047	0.59%	$59.45	7.3M	$7.4M
4	—California Health Facilities Financing Authority 4.00% 08/15/2048	0.57%	$57.27	8.1M	$7.1M
5	—California Educational Facilities Authority 5.00% 10/01/2055	0.52%	$52.30	6.4M	$6.5M
6	—California Health Facilities Financing Authority 5.00% 11/15/2056	0.51%	$50.72	6.3M	$6.3M
7	—Regents of the University of California Medical Center Pooled Revenue 4.00% 05/15/2053	0.51%	$50.70	7.3M	$6.3M
8	—California Educational Facilities Authority 5.00% 05/01/2049	0.50%	$50.41	5.9M	$6.3M
9	—University of California 5.00% 05/15/2053	0.42%	$42.47	5.2M	$5.3M
10	—Los Angeles Unified School District/CA 4.00% 07/01/2044	0.42%	$42.05	5.6M	$5.2M
11	—Foothill-Eastern Transportation Corridor Agency 4.00% 01/15/2046	0.41%	$40.50	5.6M	$5.0M
12	—San Diego Community College District 5.00% 08/01/2055	0.37%	$37.12	4.5M	$4.6M
13	—University of California 5.00% 05/15/2052	0.36%	$35.80	4.4M	$4.5M
14	—California Educational Facilities Authority 5.00% 05/01/2045	0.35%	$35.40	4.1M	$4.4M
15	—San Francisco City & County Public Utilities Commission Wastewater Revenue 5.00% 10/01/2054	0.35%	$35.05	4.3M	$4.4M

Invesco PWZ · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 5, 2026

How It Compares

PWZ

Invesco California AMT-Free Municipal Bond ETF’s Peers

YTD


MUB	iSharesRead Desk	0.05%	+0.5%	+0.9%	$54.9B
VTEB	VanguardRead Desk	0.03%	+0.6%	+0.9%	$49.6B
SUB	iSharesRead Desk	0.07%	+1.6%	+2.4%	$13.4B
JMUB	J.P. MorganRead Desk	0.18%	+0.8%	+1.1%	$9.1B
CGMU	Capital GroupRead Desk	0.27%	+1.1%	+1.7%	$7.6B
PWZ	InvescoThis fundRead Desk	0.28%	−0.4%	−0.2%	$1.2B

Municipal peers · YTD and past-year returns · as of Nov 6, 2026 · sorted by AUM

Head to Head

Put PWZ head to head with MUB →

MUB vs PWZ

YTD

MUBiShares · MunicipalPWZInvesco · Municipal

Year to date

+0.5%

−0.4%

MUB wins+0.9 pts

Past year

+0.9%

−0.2%

MUB wins+1.2 pts

Fee

0.05%

0.28%

MUB winslower fee

Yield

3.3%

3.9%

PWZ wins+0.7 pts

AUM

$54.9B

$1.2B

MUB44.1× more

3–1MUB wins

iShares MUB and Invesco PWZ · year-to-date · as of Nov 6, 2026 · AUM not scored

PWZ vs VOO

YTD

PWZ · Invesco California AMT-Free Municipal Bond

−0.4%

VOO · S&P 500

+8.4%

Gap

8.8 pts

Invesco PWZ and Vanguard VOO · YTD total return · as of Nov 6, 2026

PWZ vs Its Peer Average

YTD

PWZAvsBPeer average

1D+0.4%+0.3%

1M+5.8%+4.1%

3M−2.6%−0.5%

YTD−0.4%+0.9%

1Y−0.2%+1.2%

3Y+14.5%+15.4%

5Y−1.4%+2.9%

2–5Peer average wins

165 Municipal peers · each row scaled to its leader

The Details

PWZ

Risk

2/5our risk indicator

CalmerBumpier

Volatility · 1Y4.98%

Deepest drop · 1Y−9.1%

Lowest point · 5Y−15.6%

52-week range

$23.31

$22.03−5.2% from the high$24.59

Invesco PWZ · past-year price moves · as of Nov 6, 2026

PWZ

Fund Facts

Today

2007launched Oct 11

Tracks[…]

Exchange · CUSIPAMEX · 46138E206

StructureETF

Leverage1x

Cost on $10,000$28 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Invesco PWZ · fund facts · as of Nov 6, 2026

PWZ

Payouts by Year

$0.0782per share, Oct 2026

Distribution yield3.9%

PaidEvery month

Latest ex-date · paidOct 19 · Oct 23, 2026

12 payouts added up$0.92 a share

Invesco PWZ · distributions by ex-date · 2021–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-08-31 ↗SEC reported portfolio · 2026-05-31 ↗SEC reported portfolio · 2026-02-28 ↗SEC reported portfolio · 2025-11-30 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-08-31 ↗SEC reported portfolio · 2025-05-31 ↗SEC reported portfolio · 2025-02-28 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2024-11-30 ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$23.18

Premium / discount[…]

Median spread · 30D[…]

Volume today408K

Average volume · 30D1.4M

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.28%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$28.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 19, 2026	Oct 23, 2026	$0.0782
Sep 21, 2026	Sep 25, 2026	$0.0727
Aug 24, 2026	Aug 28, 2026	$0.0786
Jul 20, 2026	Jul 24, 2026	$0.0784
Jun 22, 2026	Jun 26, 2026	$0.0737
May 18, 2026	May 22, 2026	$0.0778
Apr 20, 2026	Apr 24, 2026	$0.0776
Mar 23, 2026	Mar 27, 2026	$0.0780
Feb 23, 2026	Feb 27, 2026	$0.0755
Jan 20, 2026	Jan 23, 2026	$0.0770
Dec 22, 2025	Dec 26, 2025	$0.0749
Nov 24, 2025	Nov 28, 2025	$0.0750

Issuer contentFrom InvescoHear the strategy from the people behind PWZ.No issuer videos have been published for this fund.Are you the issuer? Claim this fund →