ETF comparison
PZA vs TLT
US Municipal Bond vs US Treasury (Long).
Invesco National AMT-Free Municipal Bond ETF · iShares 20+ Year Treasury Bond ETF
Holdings overlap
0 positions appear in both funds. Buying equal dollars of PZA and TLT would leave roughly 0.0% 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
TLT is 13 bps cheaper than PZA. On a $100,000 position that's about $130/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 TLT.
Top shared holdings
0 shared in totalNo 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 TLT
46 total- United States of America 4.58%
- United States of America 4.50%
- United States of America 4.46%
- United States of America 4.40%
- United States of America 4.15%
- United States of America 4.04%
- United States of America 4.03%
- United States of America 3.95%
- United States of America 3.94%
- United States of America 3.86%
Related comparisons
More comparisons with PZA
- PZA vs VGLT · Vanguard Long-Term Treasury Index Fund ETF Shares 0.0%
- PZA vs VGSH · Vanguard Short-Term Treasury Index Fund ETF Shares 0.0%
- PZA vs VTIP · Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares 0.0%
- PZA vs VTEB · Vanguard Tax-Exempt Bond Index Fund ETF Shares 27.5%
- PZA vs SCMB · Schwab Municipal Bond ETF 24.8%
- PZA vs MUB · iShares National Muni Bond ETF 19.1%
More comparisons with TLT
- TLT vs SCHI · Schwab 5-10 Year Corporate Bond ETF 0.0%
- TLT vs SCHO · Schwab Short-Term U.S. Treasury ETF 0.0%
- TLT vs SCHP · Schwab U.S. TIPS ETF 0.0%
- TLT vs SCHR · Schwab Intermediate-Term U.S. Treasury ETF 0.0%
- TLT vs SCMB · Schwab Municipal Bond ETF 0.0%
- TLT vs SCYB · Schwab High Yield Bond ETF 0.0%
Percentages are holdings overlap with the named fund.
Open PZA or TLT 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.