PortfoliosLab logo
PortfoliosLab logo
Tools
Portfolios
Screeners
Discussions
Invesco New York AMT-Free Municipal Bond ETF (PZT)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Invesco New York AMT-Free Municipal Bond ETF (PZT)

ETF · Currency in USD · Last updated May 10, 2025

PZT is a passive ETF by Invesco tracking the investment results of the ICE BofA New York Long-Term Core Plus Muni. PZT launched on Oct 11, 2007 and has a 0.28% expense ratio.

ETF Info

ISIN

US73936T4581

CUSIP

46138E529

Issuer

Invesco

Inception Date

Oct 11, 2007

Region

North America (U.S.)

Category

Municipal Bonds

Leveraged

1x

Index Tracked

ICE BofA New York Long-Term Core Plus Muni

Asset Class

Bond

Expense Ratio

PZT has an expense ratio of 0.28%, placing it in 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:
PZT vs. NYF PZT vs. VNYUX PZT vs. MINO PZT vs. FLIA PZT vs. DGRO PZT vs. FTABX PZT vs. SCMB PZT vs. FMNY
Popular comparisons:
PZT vs. NYF PZT vs. VNYUX PZT vs. MINO PZT vs. FLIA PZT vs. DGRO PZT vs. FTABX PZT vs. SCMB PZT vs. FMNY

Performance

Performance Chart

Loading data...

Returns By Period

Invesco New York AMT-Free Municipal Bond ETF (PZT) returned -2.39% year-to-date (YTD) and -1.89% over the past 12 months. Over the past 10 years, PZT returned 1.97% annually, underperforming the S&P 500 benchmark at 10.45%.

PZT

YTD

-2.39%

1M

2.22%

6M

-2.43%

1Y

-1.89%

5Y*

0.54%

10Y*

1.97%

^GSPC (Benchmark)

YTD

-3.77%

1M

3.72%

6M

-5.60%

1Y

8.55%

5Y*

14.11%

10Y*

10.45%

*Annualized

Monthly Returns

The table below presents the monthly returns of PZT, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.00%1.89%-3.69%-0.48%-0.05%-2.39%
20241.20%-1.20%0.37%-1.59%0.58%1.42%1.31%-0.38%1.55%-1.55%1.75%-2.19%1.17%
20233.99%-3.04%2.81%0.07%-0.33%0.82%0.24%-2.41%-3.83%-2.42%9.23%2.91%7.57%
2022-3.31%-0.80%-4.06%-4.41%2.59%-3.22%3.64%-3.66%-4.56%-2.20%7.46%-0.58%-13.04%
20210.67%-2.23%0.60%1.57%0.82%0.61%0.85%-0.72%-0.92%-0.20%1.25%0.41%2.67%
20201.88%1.96%-4.01%-2.81%4.18%1.18%1.20%-0.17%-0.50%-0.21%2.24%1.06%5.89%
20191.03%0.48%2.42%0.83%1.48%0.48%0.82%1.78%-0.47%-0.01%-0.11%0.42%9.52%
2018-1.63%-1.00%0.65%-0.31%1.21%-0.34%0.27%0.42%-1.50%-0.56%0.92%1.37%-0.55%
2017-0.17%0.60%1.06%0.30%1.67%0.10%0.39%0.89%-0.37%0.35%-0.51%1.78%6.21%
20161.49%0.70%0.33%1.17%0.40%2.32%-0.28%0.41%-0.84%-1.50%-4.02%1.59%1.64%
20151.89%-1.04%0.15%-0.44%-0.42%-0.91%1.22%-0.41%0.70%0.49%0.53%1.13%2.89%
20143.43%0.66%2.11%1.51%2.39%0.83%-0.87%1.62%0.99%0.84%0.01%1.17%15.63%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of PZT is 10, meaning it’s performing worse than 90% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of PZT is 1010
Overall Rank
The Sharpe Ratio Rank of PZT is 1111
Sharpe Ratio Rank
The Sortino Ratio Rank of PZT is 1010
Sortino Ratio Rank
The Omega Ratio Rank of PZT is 1010
Omega Ratio Rank
The Calmar Ratio Rank of PZT is 1111
Calmar Ratio Rank
The Martin Ratio Rank of PZT is 99
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Invesco New York AMT-Free Municipal Bond ETF (PZT) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Invesco New York AMT-Free Municipal Bond ETF Sharpe ratios as of May 10, 2025 (values are recalculated daily):

  • 1-Year: -0.23
  • 5-Year: 0.08
  • 10-Year: 0.28
  • All Time: 0.34

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Invesco New York AMT-Free Municipal Bond ETF compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

Loading data...

Dividends

Dividend History

Invesco New York AMT-Free Municipal Bond ETF provided a 3.25% dividend yield over the last twelve months, with an annual payout of $0.71 per share. The fund has been increasing its distributions for 2 consecutive years.

2.60%2.80%3.00%3.20%3.40%3.60%3.80%$0.00$0.20$0.40$0.60$0.80$1.0020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.71$0.69$0.65$0.59$0.72$0.67$0.69$0.72$0.72$0.80$0.83$0.92

Dividend yield

3.25%3.04%2.82%2.66%2.77%2.55%2.73%3.01%2.94%3.36%3.40%3.75%

Monthly Dividends

The table displays the monthly dividend distributions for Invesco New York AMT-Free Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.06$0.06$0.06$0.06$0.00$0.24
2024$0.05$0.05$0.05$0.05$0.05$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.69
2023$0.05$0.05$0.05$0.05$0.05$0.06$0.05$0.05$0.05$0.06$0.06$0.06$0.65
2022$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.59
2021$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.17$0.72
2020$0.06$0.05$0.05$0.06$0.06$0.06$0.06$0.05$0.06$0.06$0.06$0.05$0.67
2019$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.05$0.06$0.06$0.06$0.06$0.69
2018$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.07$0.72
2017$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.06$0.72
2016$0.07$0.07$0.07$0.07$0.07$0.07$0.07$0.06$0.06$0.06$0.06$0.06$0.80
2015$0.07$0.07$0.07$0.07$0.07$0.07$0.07$0.07$0.07$0.06$0.07$0.07$0.83
2014$0.08$0.08$0.08$0.08$0.08$0.08$0.08$0.08$0.07$0.07$0.07$0.07$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.

Loading data...

Worst Drawdowns

The table below displays the maximum drawdowns of the Invesco New York 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 New York AMT-Free Municipal Bond ETF was 22.72%, occurring on Oct 16, 2008. Recovery took 232 trading sessions.

The current Invesco New York AMT-Free Municipal Bond ETF drawdown is 8.08%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-22.72%Jan 23, 2008179Oct 16, 2008232Sep 18, 2009411
-19.13%Jul 20, 2021322Oct 26, 2022———
-16.54%Mar 10, 202010Mar 23, 202094Aug 5, 2020104
-12.33%Dec 3, 2012194Sep 10, 2013180May 29, 2014374
-10.45%Sep 28, 201076Jan 14, 2011142Aug 9, 2011218

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

Loading data...