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ETF comparison

PZA vs SCHP

US Municipal Bond vs TIPS.

Invesco National AMT-Free Municipal Bond ETF · Schwab U.S. TIPS ETF

Holdings overlap

Weighted by ISIN/CUSIP
0.0 %

0 positions appear in both funds. Buying equal dollars of PZA and SCHP would leave roughly 0.0% of each dollar exposed to the same underlying securities.

PZA unmatched 95.8% Shared 0.0% SCHP unmatched 99.5%

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.

In PZA only
6,664 positions
Shared
0 positions
In SCHP only
48 positions

Side by side

PZA

Invesco National AMT-Free Municipal Bond ETF

Invesco · US Municipal Bond

83 composite / 100
Expense ratio
0.28%
Net assets
$4.02B
TTM yield
4.06%
Top-10 conc.
1.0%
SCHP

Schwab U.S. TIPS ETF

Schwab · TIPS

86 composite / 100
Expense ratio
0.030%
Net assets
$15.96B
TTM yield
4.91%
Top-10 conc.
36.3%

Sub-score comparison

72
Cost
97
93
Tax efficiency
48
83
Liquidity
100
100
Concentration
N/A
—
Tracking quality
—
PZA sub-score SCHP

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

SCHP is 25 bps cheaper than PZA. On a $100,000 position that's about $250/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 PZA vs SCHP.

Top shared holdings

0 shared in total

No shared holdings between these funds.

Only in PZA

6,664 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%

Only in SCHP

48 total
  • United States Treasury 4.07%
  • United States Treasury 4.01%
  • United States Treasury 4.00%
  • United States Treasury 3.77%
  • United States Treasury 3.60%
  • United States Treasury 3.40%
  • United States Treasury 3.38%
  • United States Treasury 3.36%
  • United States Treasury 3.34%
  • United States Treasury 3.33%

Percentages are holdings overlap with the named fund.

Open PZA or SCHP 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.