Invesco California AMT-Free Municipal Bond ETFPWZ

InvescoBonds & CashMunicipal#659 of 786 by YTD

$23.22

+0.5% last session

−0.8% YTD

Data as of 11/4/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Dec 31, 2025 – Nov 4, 2026PWZS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.5%	+4.5%	−2.5%	−0.8%	−0.4%	+13.8%	−1.8%	+76.8%
Peer average	+0.3%	+3.3%	−0.5%	+0.6%	+1.0%	+15.1%	+2.7%	—
S&P 500 · VOO	+1.6%	−1.6%	0.0%	+13.4%	+13.5%	+91.7%	+81.2%	—

Key Statistics

Open all fund facts →

AUM: $1.2B
Expense ratio: 0.28%
Distribution yield: 4.0%
NAV: $23.08
Volume: 305K
Avg. volume 30D: 1.4M
High today: $23.25
Low today: $23.17
Previous close: $23.11
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+2.6%$59.6M

#2OVMOverlay Shares+2.4%$46.0M

#3MYMGSPDR+2.2%$8.6M

#4TAXTFlexShares+2.1%$197M

#5SMMUPIMCO+2.1%$1.3B

#6FTMSFranklin Templeton+2.0%$265M

#7MYMFSPDR+1.9%$8.7M

#8IBMOiShares+1.9%$498M

#135PWZInvesco−0.8%$1.2B

End-of-day Nov 5, 2026 · 141 Municipal ETFs by YTD

$10,000 in PWZ

$10,000 in PWZ became

$9,818

In the S&P 500 (VOO)

$18,115

Total return, dividends in · Oct 27, 2021 – Nov 4, 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%University o0.4%University o0.4%University o0.4%San Diego Co0.4%California E0.4%San Francisc0.4%City of San 0.3%California E0.3%San Francisc0.3%

Invesco PWZ · 1,303 holdings · top 22 shown · tile size = share of the fund · as of Nov 4, 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 4, 2026

Pending’s Share of PWZ

Today

1.2%

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

Pending held by PWZ

$14.5M

Invesco PWZ · each square = $10 of $1,000 · as of Nov 4, 2026

PWZ’s Share of Municipal ETFs

Today

0.5%

of the $244B in 166 Municipal ETFs

PWZ$1.2B0.5%

MUB$54.7B22.4%

VTEB$49.6B20.3%

163 others$139B56.8%

Municipal ETF AUM · Nov 5, 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 5, 2026

Inside PWZ

1,303 holdings · as of Nov 4, 2026

PWZ

Invesco California AMT-Free Municipal Bond ETF

Today

All holdings100.0%1,289 more holdings92.1% of the fund

All holdings100.0%1,297 more holdings95.7% of the fund

#	Ticker	Company	Weight ▼
1	—	Pending Dividends	1.17%
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	0.60%
5	—	California Health Facilities Financing Authority 4.00% 08/15/2048	0.56%
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	0.43%

Invesco PWZ · current holdings by weight · as of Nov 4, 2026 · each tile is one holding · top 20 = 10.0%

How It Compares

PWZ

Invesco California AMT-Free Municipal Bond ETF’s Peers


MUB	iSharesRead Desk	0.05%	+0.7%	+0.1%	$54.7B
VTEB	VanguardRead Desk	0.03%	+0.7%	+0.2%	$49.6B
SUB	iSharesRead Desk	0.07%	+2.3%	+1.5%	$13.3B
JMUB	J.P. MorganRead Desk	0.18%	+0.8%	+0.3%	$9.0B
CGMU	Capital GroupRead Desk	0.27%	+1.4%	+0.8%	$7.5B
PWZ	InvescoThis fundRead Desk	0.28%	−0.4%	−0.8%	$1.2B

Municipal peers · Past-year and ytd returns · as of Nov 5, 2026 · sorted by AUM

Head to Head

Put PWZ head to head with MUB →

MUB vs PWZ

YTD

MUBiShares · MunicipalPWZInvesco · Municipal

Year to date

+0.1%

−0.8%

MUB wins+0.9 pts

Past year

+0.7%

−0.4%

MUB wins+1.1 pts

Fee

0.05%

0.28%

MUB winslower fee

Yield

3.3%

4.0%

PWZ wins+0.7 pts

AUM

$54.7B

$1.2B

MUB44.2× more

3–1MUB wins

iShares MUB and Invesco PWZ · year-to-date · as of Nov 5, 2026 · AUM not scored

PWZ vs VOO

PWZ · Invesco California AMT-Free Municipal Bond

−0.4%

VOO · S&P 500

+13.5%

Gap

13.9 pts

Invesco PWZ and Vanguard VOO · 1Y total return · as of Nov 5, 2026

PWZ vs Its Peer Average

YTD

PWZAvsBPeer average

1D+0.5%+0.3%

1M+4.5%+3.3%

3M−2.5%−0.5%

YTD−0.8%+0.6%

1Y−0.4%+1.0%

3Y+13.8%+15.1%

5Y−1.8%+2.7%

2–5Peer average wins

165 Municipal peers · each row scaled to its leader

The Details

PWZ

Risk

2/5our risk indicator

CalmerBumpier

Volatility · 1Y4.97%

Deepest drop · 1Y−9.1%

Lowest point · 5Y−15.6%

52-week range

$23.22

$22.03−5.6% from the high$24.59

Invesco PWZ · past-year price moves · as of Nov 5, 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 5, 2026

PWZ

Payouts by Year

$0.0782per share, Oct 2026

Distribution yield4.0%

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$23.08

Premium / discount[…]

Median spread · 30D[…]

Volume today305K

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

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