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About Invesco California AMT-Free Municipal Bond ETF
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Inception date
Oct 11, 2007
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
ISIN
US46138E2063
PWZ focuses on AMT-free bonds primarily within the California municipal debt market but includes small amounts in US territories such as Puerto Rico and Guam muni issues as they currently enjoy the same tax treatment as California munis. The index selects US-denominated investment-grade tax-exempt debt securities that have at least 15 years remaining term to maturity. The fund may carry more interest rate risk due to the skew towards long-dated bonds. The fund also tilts heavily toward the volatile revenue bond sector. These biases boost the funds yield, but also increase risk. The fund and the index are rebalanced and reconstituted monthly.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal99.00%
Cash1.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
PWZ last dividends amounted to 0.07 USD. The month before, the issuer paid 0.07 USD in dividends, which shows a 0.37% increase.
Yes, PWZ pays dividends to its holders with the dividend yield of 3.47%. The last dividend (Aug 22, 2025) amounted to 0.07 USD. The dividends are paid monthly.
PWZ shares are issued by Invesco Ltd. under the brand Invesco. The ETF was launched on Oct 11, 2007, and its management style is Passive.
PWZ expense ratio is 0.28% meaning you'd have to pay 0.28% of your investment to help manage the fund.
PWZ follows the ICE BofA California Long-Term Core Plus Muni. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
PWZ invests in bonds.