ETF comparison
MUB vs PZA
Both US Municipal Bond.
iShares National Muni Bond ETF · Invesco National AMT-Free Municipal Bond ETF
Holdings overlap
1,768 positions appear in both funds. Buying equal dollars of MUB and PZA would leave roughly 19.1% 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
MUB is 23 bps cheaper than PZA. On a $100,000 position that's about $230/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 MUB vs PZA.
Top shared holdings
1,768 shared in total| # | Holding | In MUB | In PZA | Overlap |
|---|---|---|---|---|
| 1 | New York State Dormitory Authority | 0.13% | 0.11% | 0.11% |
| 2 | Empire State Development Corp. | 0.09% | 0.09% | 0.09% |
| 3 | Triborough Bridge & Tunnel Authority | 0.09% | 0.09% | 0.09% |
| 4 | California Educational Facilities Authority | 0.09% | 0.09% | 0.09% |
| 5 | Texas Water Development Board | 0.08% | 0.08% | 0.08% |
| 6 | Northwest Independent School District | 0.13% | 0.08% | 0.08% |
| 7 | New York State Dormitory Authority | 0.08% | 0.12% | 0.08% |
| 8 | County of Jefferson | 0.08% | 0.09% | 0.08% |
| 9 | Foothill-Eastern Transportation Corridor Agency | 0.08% | 0.07% | 0.07% |
| 10 | New Jersey Educational Facilities Authority | 0.08% | 0.07% | 0.07% |
| 11 | Chicago Transit Authority Sales Tax Receipts Fund | 0.11% | 0.07% | 0.07% |
| 12 | State of California | 0.08% | 0.07% | 0.07% |
Only in MUB
4,885 total- Board of Regents of the University of Texas System 0.19%
- San Antonio Water System 0.14%
- Triborough Bridge & Tunnel Authority 0.14%
- New York City Transitional Finance Authority Future Tax Secured 0.13%
- Ohio State University (The) 0.13%
- Houston Higher Education Finance Corp. 0.13%
- State of New Jersey 0.13%
- State of California 0.12%
- State of Washington 0.12%
- Pennsylvania Turnpike Commission 0.12%
Only in PZA
4,896 total- California (State of) Health Facilities Financing Authority (Kaiser Permanente) 0.13%
- Salt River Project Agricultural Improvement & Power District 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%
- California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) 0.09%
- Lower Alabama Gas District (The) 0.09%
- Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) 0.08%
- Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion) 0.08%
- Massachusetts (Commonwealth of) 0.08%
Related comparisons
More comparisons with MUB
- MUB vs CMF · iShares California Muni Bond ETF 9.0%
- MUB vs SUB · iShares Short-Term National Muni Bond ETF 8.7%
- MUB vs NYF · iShares New York Muni Bond ETF 5.5%
- MUB vs ITM · VanEck Intermediate Muni ETF 3.7%
- MUB vs JMUB · JPMorgan Municipal ETF 3.0%
- MUB vs CGMU · Capital Group Municipal Income ETF 2.5%
More comparisons with PZA
Percentages are holdings overlap with the named fund.
Open MUB 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.