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ETF comparison

PZA vs SUB

Both US Municipal Bond.

Invesco National AMT-Free Municipal Bond ETF · iShares Short-Term National Muni Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
0.0 %

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

PZA unmatched 95.8% Shared 0.0% SUB unmatched 99.8%

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 SUB only
2,916 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
4.04%
Top-10 conc.
1.0%
SUB

iShares Short-Term National Muni Bond ETF

iShares · US Municipal Bond

96 composite / 100
Expense ratio
0.070%
Net assets
$11.88B
TTM yield
2.57%
Top-10 conc.
2.8%

Sub-score comparison

72
Cost
93
93
Tax efficiency
93
83
Liquidity
100
100
Concentration
100
—
Tracking quality
—
PZA sub-score SUB

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

Cost difference

SUB is 21 bps cheaper than PZA. On a $100,000 position that's about $210/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 SUB.

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 SUB

2,916 total
  • New Jersey Economic Development Authority 0.37%
  • County of King 0.35%
  • San Antonio Water System 0.28%
  • City of Seattle 0.27%
  • State of California 0.27%
  • Empire State Development Corp. 0.25%
  • Pennsylvania Turnpike Commission 0.25%
  • University of California 0.25%
  • New Jersey Turnpike Authority 0.25%
  • State of California 0.24%

Related comparisons

More comparisons with PZA

More comparisons with SUB

Percentages are holdings overlap with the named fund.

Open PZA or SUB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

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.