PZA ETF Analysis: National AMT-Free Municipal | NYSE
Muni National Long | NYSE, USA | Market Cap: 4.286m USD | 12M Return: 7% | US46138E5371 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 30.4M
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
The Invesco National AMT-Free Municipal Bond ETF (PZA) is a passively managed exchange-traded fund that seeks to track an underlying index by investing at least 80% of its total assets in its components. The underlying index consists of U.S. dollar-denominated, tax-exempt municipal debt securities publicly issued by U.S. states, territories, and their political subdivisions within the domestic market.
The fund operates within the municipal bond sector, which finances public infrastructure and government projects through debt issued by state and local entities. As an AMT-Free fund, it specifically holds municipal bonds whose interest income is exempt from the federal Alternative Minimum Tax, making it particularly relevant for investors in higher tax brackets seeking tax-efficient income.
- Fed rate cuts drive long-duration muni bond prices higher
- Federal tax policy shifts impact AMT-free muni demand
- State fiscal stress widens municipal credit spreads
As of August 21, 2026, the stock is trading at USD 22.85 with a total of 1,422,156 shares traded. Over the past week, the price has changed by -1.17%, over one month by -1.59%, over three months by +0.37% and over the past year by +7.03%.
Current recommended Stop Loss: 22.70 (which is 0.7% or 1.5 ATR below the current price).
National AMT-Free Municipal has no consensus analysts rating.