Invesco California AMT-Free Municipal Bond ETF (PWZ) Alternatives
Invesco California AMT-Free Municipal Bond ETF (PWZ) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PWZ. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.
Cheapest Alternatives to PWZ
PWZ charges 0.28% annually. Among ETFs in the Municipal Bonds category, these options have the lowest expense ratios among PWZ alternatives.
| Symbol | Name | Expense Ratio | Inception | |
|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | Oct 11, 2022 | PWZ vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | Jul 11, 2019 | PWZ vs FMUN | |
| Vanguard Tax-Exempt Bond ETF | 0.05% | Aug 21, 2015 | PWZ vs VTEB | |
| Vanguard Short-Term Tax-Exempt Bond ETF Shares | 0.07% | Mar 8, 2023 | PWZ vs VTES | |
| Xtrackers California Municipal Bond ETF | 0.07% | Dec 13, 2023 | PWZ vs CA |
Best Risk-Adjusted Alternatives to PWZ
Among ETFs in the Municipal Bonds category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.
| Symbol | Name | Risk / Return Rank | Inception | |
|---|---|---|---|---|
| Goldman Sachs Ultra Short Municipal Income ETF | 98 | Jul 23, 2024 | PWZ vs GUMI | |
| First Trust Ultra Short Duration Municipal ETF | 97 | Nov 1, 2018 | PWZ vs FUMB | |
| iShares Short Maturity Municipal Bond ETF | 97 | Mar 3, 2015 | PWZ vs MEAR | |
| PGIM Ultra Short Municipal Bond ETF | 95 | Jun 24, 2024 | PWZ vs PUSH | |
| iShares Short-Term California Muni Active ETF | 95 | Oct 4, 2007 | PWZ vs CALI |
Top Performing PWZ Alternatives (YTD)
PWZ alternatives from the Municipal Bonds category, sorted by year-to-date return.
| Symbol | Name | YTD Return | Inception | |
|---|---|---|---|---|
| Overlay Shares Municipal Bond ETF | 1.20% | Sep 30, 2019 | PWZ vs OVM | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 1.00% | Jun 4, 2013 | PWZ vs RVNU | |
| X-Square Municipal Income Tax Free ETF | 0.90% | May 18, 2023 | PWZ vs ZTAX | |
| Goldman Sachs Ultra Short Municipal Income ETF | 0.72% | Jul 23, 2024 | PWZ vs GUMI | |
| First Trust Ultra Short Duration Municipal ETF | 0.64% | Nov 1, 2018 | PWZ vs FUMB |
Lowest Volatility Alternatives to PWZ
PWZ alternatives from the Municipal Bonds category, sorted by annualized volatility over the past year.
| Symbol | Name | Volatility 1Y | Inception | |
|---|---|---|---|---|
| iShares iBonds Dec 2024 Term Muni Bond ETF | 0.00% | Mar 20, 2018 | PWZ vs IBMM | |
| First Trust Ultra Short Duration Municipal ETF | 1.03% | Nov 1, 2018 | PWZ vs FUMB | |
| iShares Short-Term California Muni Active ETF | 1.09% | Oct 4, 2007 | PWZ vs CALI | |
| abrdn Ultra Short Municipal Income Active ETF | 1.12% | Oct 20, 2025 | PWZ vs AMUN | |
| Goldman Sachs Ultra Short Municipal Income ETF | 1.15% | Jul 23, 2024 | PWZ vs GUMI |
Lowest Drawdown Alternatives to PWZ
PWZ alternatives from the Municipal Bonds category, sorted by maximum drawdown over the past year.
| Symbol | Name | Max Drawdown 1Y | Inception | |
|---|---|---|---|---|
| Goldman Sachs Ultra Short Municipal Income ETF | -0.48% | Jul 23, 2024 | PWZ vs GUMI | |
| First Trust Ultra Short Duration Municipal ETF | -0.60% | Nov 1, 2018 | PWZ vs FUMB | |
| iShares Short-Term California Muni Active ETF | -0.78% | Oct 4, 2007 | PWZ vs CALI | |
| PGIM Ultra Short Municipal Bond ETF | -0.85% | Jun 24, 2024 | PWZ vs PUSH | |
| iShares Short Maturity Municipal Bond ETF | -0.86% | Mar 3, 2015 | PWZ vs MEAR |
Other ETFs from Invesco
Most popular Invesco ETFs on PortfoliosLab, across asset classes.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | Inception | |
|---|---|---|---|---|---|---|
| Invesco QQQ ETF | Large Cap Growth Equities | 69 | -5.93% | Mar 10, 1999 | PWZ vs QQQ | |
| Invesco S&P 500 Momentum ETF | S&P 500 | 66 | -5.78% | Oct 9, 2015 | PWZ vs SPMO | |
| Invesco NASDAQ 100 ETF | Large Cap Growth Equities | 70 | -5.92% | Oct 13, 2020 | PWZ vs QQQM | |
| Invesco S&P 500 Equal Weight ETF | S&P 500 | 47 | 0.62% | Apr 24, 2003 | PWZ vs RSP | |
| Invesco S&P 500 Top 50 ETF | S&P 500 | 63 | -7.82% | May 4, 2005 | PWZ vs XLG | |
| Invesco S&P 500 Quality ETF | S&P 500, Large Cap Value Equities | 58 | 0.57% | Dec 6, 2005 | PWZ vs SPHQ | |
| Invesco S&P 500® High Dividend Low Volatility ETF | S&P 500, Dividend | 20 | 4.64% | Oct 18, 2012 | PWZ vs SPHD | |
| Invesco PHLX Semiconductor ETF | Semiconductors, Technology Equities | 93 | 7.17% | Jun 11, 2021 | PWZ vs SOXQ | |
| Invesco Aerospace & Defense ETF | Industrials Equities, Aerospace & Defense | 92 | 5.82% | Oct 26, 2005 | PWZ vs PPA | |
| Invesco S&P MidCap Momentum ETF | Mid Cap Growth Equities | 80 | 4.93% | Mar 3, 2005 | PWZ vs XMMO |
Often Compared With PWZ
What investors most often compare with PWZ, based on PortfoliosLab usage data.
Compare PWZ with Any Fund or Stock
Compare PWZ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.