ETF comparison
MUNI vs PZA
Both US Municipal Bond.
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund · Invesco National AMT-Free Municipal Bond ETF
Holdings overlap
47 positions appear in both funds. Buying equal dollars of MUNI and PZA would leave roughly 1.1% 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
PZA is 7 bps cheaper than MUNI. On a $100,000 position that's about $70/yr more in fees for MUNI.
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 MUNI vs PZA.
Top shared holdings
47 shared in total| # | Holding | In MUNI | In PZA | Overlap |
|---|---|---|---|---|
| 1 | Illinois State Toll Highway Authority | 0.49% | 0.08% | 0.08% |
| 2 | Health & Educational Facilities Authority of the State of Missouri | 0.09% | 0.07% | 0.07% |
| 3 | Texas Water Development Board | 0.28% | 0.07% | 0.07% |
| 4 | State of California | 0.10% | 0.06% | 0.06% |
| 5 | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.15% | 0.06% | 0.06% |
| 6 | South Carolina Public Service Authority | 0.10% | 0.05% | 0.05% |
| 7 | City of San Antonio TX Electric & Gas Systems Revenue | 0.09% | 0.05% | 0.05% |
| 8 | County of Clark NV | 0.15% | 0.05% | 0.05% |
| 9 | Colorado Health Facilities Authority | 0.05% | 0.08% | 0.05% |
| 10 | New York State Dormitory Authority | 0.07% | 0.04% | 0.04% |
| 11 | Triborough Bridge & Tunnel Authority Sales Tax Revenue | 0.17% | 0.04% | 0.04% |
| 12 | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.24% | 0.04% | 0.04% |
Only in MUNI
599 total- United States Treasury 2.20%
- United States Treasury 1.78%
- United States Treasury 1.16%
- United States Treasury 0.86%
- Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.81%
- Connecticut State Health & Educational Facilities Authority 0.81%
- Black Belt Energy Gas District 0.81%
- Texas Municipal Gas Acquisition & Supply Corp V 0.80%
- Fort Bend Independent School District 0.79%
- FHLMC Multifamily VRD Certificates 0.71%
Only in PZA
6,617 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 MUNI
- MUNI vs NYF · iShares New York Muni Bond ETF 1.1%
- MUNI vs SCMB · Schwab Municipal Bond ETF 1.1%
- MUNI vs AGG · iShares Core U.S. Aggregate Bond ETF 1.0%
- MUNI vs JMST · JPMorgan Ultra-Short Municipal Income ETF 0.9%
- MUNI vs SCHZ · Schwab U.S. Aggregate Bond ETF 0.8%
- MUNI vs BND · Vanguard Total Bond Market Index Fund ETF Shares 0.7%
More comparisons with PZA
- 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%
- PZA vs BNDX · Vanguard Total International Bond Index Fund ETF Shares 0.0%
- PZA vs GOVT · iShares U.S. Treasury Bond ETF 0.0%
Percentages are holdings overlap with the named fund.
Open MUNI 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.