ETF comparison
ITM vs PZA
Both US Municipal Bond.
VanEck Intermediate Muni ETF · Invesco National AMT-Free Municipal Bond ETF
Holdings overlap
99 positions appear in both funds. Buying equal dollars of ITM and PZA would leave roughly 1.5% of each dollar exposed to the same underlying securities.
Unmatched is the part of a fund's weight the other fund doesn't match: names only it holds, plus any extra weight it puts in names both funds hold.
Side by side
Sub-score comparison
Tracking quality isn't part of the composite — see what we don't score for why.
Cost difference
ITM is 10 bps cheaper than PZA. On a $100,000 position that's about $100/yr more in fees for PZA.
Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with ITM vs PZA.
Top shared holdings
99 shared in total| # | Holding | In ITM | In PZA | Overlap |
|---|---|---|---|---|
| 1 | State of California | 0.14% | 0.06% | 0.06% |
| 2 | State of California | 0.08% | 0.06% | 0.06% |
| 3 | Central Plains Energy Project | 0.07% | 0.06% | 0.06% |
| 4 | University of Washington | 0.07% | 0.05% | 0.05% |
| 5 | New York City Municipal Water Finance Authority | 0.10% | 0.05% | 0.05% |
| 6 | Metropolitan Transportation Authority | 0.05% | 0.05% | 0.05% |
| 7 | Texas Water Development Board | 0.04% | 0.06% | 0.04% |
| 8 | Energy Northwest | 0.05% | 0.04% | 0.04% |
| 9 | State of Connecticut Special Tax Revenue | 0.10% | 0.04% | 0.04% |
| 10 | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.05% | 0.04% | 0.04% |
| 11 | Hayward Unified School District | 0.05% | 0.03% | 0.03% |
| 12 | Hudson Yards Infrastructure Corp | 0.03% | 0.06% | 0.03% |
Only in ITM
1,270 total- New Jersey Educational Facilities Authority 0.53%
- California Community Choice Financing Authority 0.50%
- State of California 0.45%
- California Community Choice Financing Authority 0.44%
- Connecticut State Health & Educational Facilities Authority 0.39%
- California Community Choice Financing Authority 0.37%
- State of California 0.30%
- Kentucky Public Energy Authority 0.29%
- New York City Municipal Water Finance Authority 0.28%
- California Housing Finance Agency 0.28%
Only in PZA
6,565 total- California (State of) Health Facilities Financing Authority (Kaiser Permanente) 0.13%
- New York (State of) Dormitory Authority 0.12%
- New York (State of) Dormitory Authority 0.11%
- Salt River Project Agricultural Improvement & Power District 0.10%
- Texas Water Development Board 0.10%
- Regents of the University of California Medical Center 0.10%
- Regents of the University of California Medical Center 0.10%
- Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group) 0.10%
- Texas Transportation Finance Corp. 0.09%
- Triborough Bridge & Tunnel Authority 0.09%
Related comparisons
More comparisons with ITM
- ITM vs AGG · iShares Core U.S. Aggregate Bond ETF 0.0%
- ITM vs BAB · Invesco Taxable Municipal Bond ETF 0.0%
- ITM vs BND · Vanguard Total Bond Market Index Fund ETF Shares 0.0%
- ITM vs BNDX · Vanguard Total International Bond Index Fund ETF Shares 0.0%
- ITM vs GOVT · iShares U.S. Treasury Bond ETF 0.0%
- ITM vs JMST · JPMorgan Ultra-Short Municipal Income ETF 0.0%
More comparisons with PZA
- PZA vs CGMU · Capital Group Municipal Income ETF 1.4%
- PZA vs MUNI · PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund 1.1%
- PZA vs JMST · JPMorgan Ultra-Short Municipal Income ETF 0.0%
- PZA vs AGG · iShares Core U.S. Aggregate Bond ETF 0.0%
- PZA vs BAB · Invesco Taxable Municipal Bond ETF 0.0%
- PZA vs BND · Vanguard Total Bond Market Index Fund ETF Shares 0.0%
Percentages are holdings overlap with the named fund.
Open ITM or PZA at a brokerage
Both funds trade commission-free at major US brokerages.
Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.
Holdings overlap is the sum of min(weight_a, weight_b) over positions
matched on ISIN (CUSIP fallback). Methodology: see
/methodology/.
Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.