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Trending ETFs

Invesco California AMT-Free Municipal Bond ETF

etf
PWZ
Dividend policy
None
Price as of:
$28.25 -0.02 0%
primary theme
Municipal Bond
PWZ (ETF)

Invesco California AMT-Free Municipal Bond ETF

Dividend policy
None
Price as of:
$28.25 -0.02 0%
primary theme
Municipal Bond
PWZ (ETF)
Invesco California AMT-Free Municipal Bond ETF
Dividend policy
None
Price as of:
$28.25 -0.02 0%
primary theme
Municipal Bond

PWZ - Snapshot

Vitals

  • YTD Return 0.9%
  • 3 Yr Annualized Return 5.3%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $508 M
  • Holdings in Top 10 22.0%

52 WEEK LOW AND HIGH

$28.27
$27.31
$28.35

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.28%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) N/A
  • IRA N/A

Fund Classification

  • Primary Theme Municipal Bond
  • Fund Type Exchange Traded Fund
  • Investment Style Muni California Long

Compare PWZ to Popular Municipal Bond Funds

Overview

Next Dividend

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Dividend.com Ratings*

$14.90

0.00%

$86.38 B

-

$0.00

blocked
blocked
blocked

0.27%

0.17%

$11.26

0.00%

$36.93 B

-

$0.00

blocked
blocked
blocked

0.00%

0.17%

$13.77

-0.07%

$26.89 B

-

$0.00

blocked
blocked
blocked

1.10%

0.52%

$15.94

0.00%

$22.07 B

-

$0.00

blocked
blocked
blocked

-0.06%

0.17%

$12.36

0.00%

$18.98 B

-

$0.00

blocked
blocked
blocked

0.00%

0.17%

Compare PWZ to Popular Municipal Bond ETFs

Overview

Next Dividend

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Dividend.com Ratings*

$55.47

-0.05%

$14.10 B

1.79%

$0.99

blocked
blocked
blocked

0.54%

0.06%

$49.66

+0.02%

$4.81 B

0.96%

$0.48

blocked
blocked
blocked

-0.22%

0.20%

$52.32

-0.06%

$3.72 B

1.82%

$0.95

blocked
blocked
blocked

-0.29%

0.23%

$57.66

+0.02%

$2.25 B

2.03%

$1.17

blocked
blocked
blocked

1.66%

0.50%

-

-

$1.87 B

-

$0.00

blocked
blocked
blocked

0.12%

0.24%

PWZ - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.46%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco California AMT-Free Municipal Bond ETF
  • Fund Family Name
    Invesco
  • Inception Date
    Oct 11, 2007
  • Shares Outstanding
    18100000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Peter Hubbard

Fund Description

The fund generally will invest at least 80% of its total assets in the components of the index. The index is composed of U.S. dollar-denominated, tax-exempt municipal debt publicly issued by California or any U.S. territory and their political subdivisions, in the U.S. domestic market. It is non-diversified.


PWZ - Performance

Return Ranking - Trailing

Period PWZ Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -88.5% 9.9% 38.53%
1 Yr 5.1% -19.8% 22.3% 36.22%
3 Yr 5.3%* -6.1% 10.6% 19.29%
5 Yr 3.5%* -3.5% 7.1% 14.02%
10 Yr 5.2%* -0.2% 9.5% 11.46%

* Annualized

Return Ranking - Calendar

Period PWZ Return Category Return Low Category Return High Rank in Category (%)
2020 2.4% -91.1% 310.0% 15.99%
2019 6.0% -79.8% 15.4% 8.29%
2018 -2.2% -72.6% 97.2% 39.16%
2017 4.1% -100.0% 7.6% 4.99%
2016 -2.1% -35.9% 96.8% 16.73%

Total Return Ranking - Trailing

Period PWZ Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -88.5% 9.5% 39.69%
1 Yr 5.1% -23.6% 29.0% 26.60%
3 Yr 5.3%* -6.9% 11.3% 16.50%
5 Yr 3.5%* -4.0% 7.1% 11.81%
10 Yr 5.2%* -0.4% 9.5% 9.91%

* Annualized

Total Return Ranking - Calendar

Period PWZ Return Category Return Low Category Return High Rank in Category (%)
2020 2.4% -91.1% 310.0% 15.99%
2019 6.0% -79.8% 15.4% 8.52%
2018 -2.2% -72.6% 11.0% 40.87%
2017 4.1% -100.0% 7.6% 6.32%
2016 -2.1% -35.9% 3.0% 20.42%

PWZ - Holdings

Concentration Analysis

PWZ Category Low Category High PWZ % Rank
Net Assets 508 M 901 K 86.4 B 47.38%
Number of Holdings 194 1 11766 43.87%
Net Assets in Top 10 109 M -241 M 4.86 B 27.46%
Weighting of Top 10 21.98% 2.4% 100.0% 49.90%

Top 10 Holdings

  1. CALIFORNIA HEALTH FACS FING AUTH REV 4% 5.32%
  2. SAN DIEGO CALIF UNI SCH DIST 5% 3.37%
  3. LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV 5% 2.73%
  4. SAN DIEGO CALIF UNI SCH DIST 5% 2.26%
  5. METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV 5% 1.90%
  6. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 1.74%
  7. SAN MATEO FOSTER CITY CALIF PUB FING AUTH WASTEWATER REV 5% 1.68%
  8. LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV 5% 1.62%
  9. UNIVERSITY CALIF REVS 4% 1.46%
  10. SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV 5% 1.44%

Asset Allocation

Weighting Return Low Return High PWZ % Rank
Bonds
100.00% 51.33% 145.79% 36.58%
Stocks
0.00% -0.08% 2.77% 93.30%
Preferred Stocks
0.00% -3.41% 1.06% 93.91%
Other
0.00% -13.42% 30.00% 94.39%
Convertible Bonds
0.00% 0.00% 1.18% 95.04%
Cash
0.00% -45.79% 48.67% 91.15%

Bond Sector Breakdown

Weighting Return Low Return High PWZ % Rank
Municipal
100.00% 39.29% 100.00% 30.58%
Derivative
0.00% 0.00% 0.10% 95.04%
Cash & Equivalents
0.00% 0.00% 48.67% 99.92%
Securitized
0.00% 0.00% 7.63% 95.37%
Corporate
0.00% 0.00% 13.54% 96.51%
Government
0.00% 0.00% 51.02% 95.69%

Bond Geographic Breakdown

Weighting Return Low Return High PWZ % Rank
US
99.77% 0.00% 141.11% 30.18%
Non US
0.23% 0.00% 100.00% 54.96%

PWZ - Expenses

Operational Fees

PWZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.28% 0.01% 4.23% 82.61%
Management Fee 0.28% 0.00% 1.12% 12.37%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

PWZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

PWZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PWZ Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 0.00% 299.40% 19.33%

PWZ - Distributions

Dividend Yield Analysis

PWZ Category Low Category High PWZ % Rank
Dividend Yield 0.00% 0.00% 1.59% 0.97%

Dividend Distribution Analysis

PWZ Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PWZ Category Low Category High PWZ % Rank
Net Income Ratio 2.46% -1.65% 24.00% 38.83%

Capital Gain Distribution Analysis

PWZ Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

PWZ - Fund Manager Analysis

Managers

Peter Hubbard


Start Date

Tenure

Tenure Rank

Oct 11, 2007

13.73

13.7%

Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.

Philip Fang


Start Date

Tenure

Tenure Rank

Oct 11, 2007

13.73

13.7%

Philip Fang is Portfolio Manager of Invesco Capital Management LLC, has been responsible for certain Funds in the Trust since July 2010 and has been associated with Invesco Capital Management since 2007.

Gary Jones


Start Date

Tenure

Tenure Rank

Jan 31, 2012

9.42

9.4%

Gary Jones is a Portfolio Manager of Invesco PowerShares Capital Management LLC and has been one of the Portfolio Managers primarily responsible for the day-to-day management of the Funds since January 2012. Mr. Jones has been a Portfolio Manager of the Adviser since December 2010. Previously, he was a Portfolio Manager of Van Kampen Investments from 2007 to 2009.

Jeremy Neisewander


Start Date

Tenure

Tenure Rank

Dec 20, 2019

1.53

1.5%

Jeremy Neisewander, Portfolio Manager of Invesco Capital Management LLC. Prior to that, Mr. Neisewander is a Portfolio Manager and Vice President of Guggenheim Investments and joined Guggenheim Investments in May 2014. Mr. Neisewander is a member of the ETF Portfolio Management team. Prior to joining Guggenheim Investments, Mr. Neisewander held Analyst and Portfolio Management roles within the multi-asset team at UBS Global Asset Management from 2005 to 2014. Prior to his time at UBS, Mr. Neisewander focused on the development and implementation of asset allocation models while a Senior Analyst at Ibbotson Associates. Mr. Neisewander holds an MBA and B.S. degree in Finance from the Roosevelt University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 36.27 7.1 0.66