InvescoMuni Single StatePWZ · NYSE Arca

Invesco California AMT-Free Municipal Bond ETF (PWZ)

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Price: $23.13; —11 Sept 2026
Assets: $1.2B; Total net assets
Expense ratio: 0.28%; Category 0.79%
Yield: 3.82%; Trailing distributions

1Y return: 0.3%+0.1%; Category 0.3%
3Y CAGR: 2.0%-0.6%; Category 2.6%
5Y CAGR: -0.8%-0.3%; Category -0.5%

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Invesco California AMT-Free Municipal Bond ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-4.0%	-4.1%	-2.6%	-1.8%	+0.3%	+2.0%	-0.8%	+1.3%	+3.0%
Muni Single State average	-2.5%	-2.8%	-1.9%	-1.3%	0.3%	2.6%	-0.5%	1.3%	1.1%
Difference	-1.5%	-1.3%	-0.7%	-0.5%	+0.1%	-0.6%	-0.3%	0.0%	+1.8%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA5.8%
AA76.3%
A14.2%
BBB3.1%
BB0.6%

Asset mix

Bonds98.4%
Cash1.6%

ETF details

Issuer: Invesco
Category: Fixed Income · Muni Single State
Ticker: PWZ
Exchange: NYSE Arca
Inception: 11 Oct 2007 (18.9 years)
Structure: Exchange Traded Fund
Expense ratio: 0.28% (category 0.79%)
Holdings turnover: 5% (category 32%)
Distribution yield: 3.82%
Beta, 3 years: 1.26
Total net assets: $1.2B
Average duration: 4.63 years
Average maturity: 9.90 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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