Invesco California AMT-Free Municipal Bond ETF (PWZ)
PWZ is a passive ETF by Invesco tracking the investment results of the ICE BofA California Long-Term Core Plus Muni. PWZ launched on Oct 11, 2007 and has a 0.28% expense ratio.
ETF Info
| ISIN | US73936T4417 |
|---|---|
| CUSIP | 46138E206 |
| Issuer | Invesco |
| Inception Date | Oct 11, 2007 |
| Region | North America (U.S.) |
| Category | Municipal Bonds |
| Leveraged | 1x |
| Index Tracked | ICE BofA California Long-Term Core Plus Muni |
| Asset Class | Bond |
Expense Ratio
PWZ features an expense ratio of 0.28%, falling within the medium range.
Share Price Chart
Loading data...
Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: PWZ vs. CMF, PWZ vs. FCAL, PWZ vs. VWLTX, PWZ vs. FCTFX, PWZ vs. VTEB, PWZ vs. SCHP, PWZ vs. FBND, PWZ vs. QQQ, PWZ vs. CALY, PWZ vs. BCHYX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Invesco California AMT-Free Municipal Bond ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Invesco California AMT-Free Municipal Bond ETF had a return of 1.59% year-to-date (YTD) and 8.52% in the last 12 months. Over the past 10 years, Invesco California AMT-Free Municipal Bond ETF had an annualized return of 2.41%, while the S&P 500 had an annualized return of 11.39%, indicating that Invesco California AMT-Free Municipal Bond ETF did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.59% | 25.45% |
| 1 month | -0.85% | 2.91% |
| 6 months | 1.37% | 14.05% |
| 1 year | 8.52% | 35.64% |
| 5 years (annualized) | 0.70% | 14.13% |
| 10 years (annualized) | 2.41% | 11.39% |
Monthly Returns
The table below presents the monthly returns of PWZ, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.95% | -0.46% | -0.14% | -0.98% | -0.67% | 1.68% | 1.50% | -0.26% | 1.29% | -1.48% | 1.59% | ||
| 2023 | 3.18% | -2.59% | 2.81% | -0.21% | -0.74% | 1.13% | 0.03% | -1.10% | -3.02% | -3.42% | 8.73% | 2.16% | 6.55% |
| 2022 | -2.87% | -0.67% | -3.63% | -4.63% | 2.42% | -2.95% | 3.90% | -3.74% | -4.17% | -1.41% | 6.80% | -0.33% | -11.35% |
| 2021 | 0.56% | -2.05% | 0.92% | 1.13% | 0.61% | 0.42% | 0.76% | -0.59% | -0.88% | -0.07% | 1.13% | 0.04% | 1.94% |
| 2020 | 2.02% | 1.31% | -3.94% | -3.17% | 4.67% | 0.46% | 2.22% | -0.79% | 0.30% | -0.75% | 2.41% | 0.38% | 4.90% |
| 2019 | 0.06% | 0.35% | 2.28% | 0.95% | 1.47% | 0.28% | 0.99% | 2.01% | -0.58% | 0.32% | -0.23% | 0.51% | 8.72% |
| 2018 | -1.62% | -0.76% | 0.30% | -0.39% | 1.76% | 0.01% | 0.37% | 0.02% | -1.10% | -0.91% | 1.25% | 1.45% | 0.32% |
| 2017 | 0.06% | 0.59% | 0.10% | 1.01% | 1.83% | 0.24% | 0.63% | 1.14% | -0.71% | 0.04% | 0.02% | 1.70% | 6.82% |
| 2016 | 0.99% | 0.18% | 0.75% | 0.91% | 0.44% | 2.39% | -0.57% | 0.67% | -0.87% | -1.22% | -4.38% | 1.47% | 0.61% |
| 2015 | 1.61% | -0.79% | -0.10% | -0.67% | -0.22% | -0.96% | 1.38% | 0.40% | 0.31% | 0.71% | 0.67% | 1.38% | 3.72% |
| 2014 | 3.02% | 1.16% | 1.85% | 2.20% | 1.55% | 0.26% | 0.46% | 1.70% | 0.53% | 0.78% | 0.23% | 0.91% | 15.64% |
| 2013 | 0.65% | 0.44% | -0.50% | 1.20% | -1.63% | -4.14% | -1.45% | -2.23% | 2.07% | 1.33% | 0.24% | -0.60% | -4.68% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PWZ is 39, suggesting that the investment has average results relative to other ETFs in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Invesco California AMT-Free Municipal Bond ETF (PWZ) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Invesco California AMT-Free Municipal Bond ETF provided a 3.29% dividend yield over the last twelve months, with an annual payout of $0.81 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.81 | $0.71 | $0.60 | $0.64 | $0.66 | $0.69 | $0.65 | $0.66 | $0.73 | $0.82 | $0.98 | $0.92 |
Dividend yield | 3.29% | 2.85% | 2.49% | 2.28% | 2.34% | 2.51% | 2.54% | 2.49% | 2.87% | 3.17% | 3.81% | 3.96% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco California AMT-Free Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.08 | $0.07 | $0.00 | $0.68 | |
| 2023 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.71 |
| 2022 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.60 |
| 2021 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.64 |
| 2020 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.04 | $0.05 | $0.06 | $0.06 | $0.06 | $0.66 |
| 2019 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.69 |
| 2018 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.65 |
| 2017 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.66 |
| 2016 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.06 | $0.06 | $0.05 | $0.05 | $0.05 | $0.06 | $0.73 |
| 2015 | $0.08 | $0.08 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.07 | $0.06 | $0.06 | $0.07 | $0.07 | $0.82 |
| 2014 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.07 | $0.98 |
| 2013 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.92 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco California AMT-Free Municipal Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco California AMT-Free Municipal Bond ETF was 21.49%, occurring on Dec 16, 2008. Recovery took 181 trading sessions.
The current Invesco California AMT-Free Municipal Bond ETF drawdown is 4.68%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -21.49% | Jan 24, 2008 | 223 | Dec 16, 2008 | 181 | Sep 4, 2009 | 404 |
| -17.56% | Jul 20, 2021 | 320 | Oct 24, 2022 | — | — | — |
| -13.1% | Mar 10, 2020 | 10 | Mar 23, 2020 | 98 | Aug 11, 2020 | 108 |
| -11.55% | Oct 13, 2010 | 65 | Jan 18, 2011 | 138 | Aug 4, 2011 | 203 |
| -11.26% | May 3, 2013 | 89 | Sep 9, 2013 | 149 | Apr 11, 2014 | 238 |
Volatility
Volatility Chart
The current Invesco California AMT-Free Municipal Bond ETF volatility is 2.56%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.