AMUN vs. PZT
Compare and contrast key facts about abrdn Ultra Short Municipal Income Active ETF (AMUN) and Invesco New York AMT-Free Municipal Bond ETF (PZT).
AMUN and PZT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMUN is an actively managed fund by abrdn. It was launched on Oct 20, 2025. PZT is a passively managed fund by Invesco that tracks the performance of the ICE BofA New York Long-Term Core Plus Muni. It was launched on Oct 11, 2007.
Performance
AMUN vs. PZT - Performance Comparison
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AMUN vs. PZT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 0.54% | 0.14% |
PZT Invesco New York AMT-Free Municipal Bond ETF | -0.18% | -0.17% |
Returns By Period
In the year-to-date period, AMUN achieves a 0.54% return, which is significantly higher than PZT's -0.18% return.
AMUN
- 1D
- 0.02%
- 1M
- -0.04%
- YTD
- 0.54%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PZT
- 1D
- 0.46%
- 1M
- -2.51%
- YTD
- -0.18%
- 6M
- 1.06%
- 1Y
- 3.51%
- 3Y*
- 2.16%
- 5Y*
- -0.10%
- 10Y*
- 1.79%
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AMUN vs. PZT - Expense Ratio Comparison
AMUN has a 0.25% expense ratio, which is lower than PZT's 0.28% expense ratio.
Return for Risk
AMUN vs. PZT — Risk / Return Rank
AMUN
PZT
AMUN vs. PZT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Active ETF (AMUN) and Invesco New York AMT-Free Municipal Bond ETF (PZT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| AMUN | PZT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.50 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.01 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.39 | 0.36 | +1.03 |
Correlation
The correlation between AMUN and PZT is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AMUN vs. PZT - Dividend Comparison
AMUN's dividend yield for the trailing twelve months is around 1.14%, less than PZT's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.14% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PZT Invesco New York AMT-Free Municipal Bond ETF | 3.58% | 3.43% | 3.04% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.36% | 3.40% |
Drawdowns
AMUN vs. PZT - Drawdown Comparison
The maximum AMUN drawdown since its inception was -0.61%, smaller than the maximum PZT drawdown of -22.73%. Use the drawdown chart below to compare losses from any high point for AMUN and PZT.
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Drawdown Indicators
| AMUN | PZT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.61% | -22.73% | +22.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.93% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.13% | — |
Current DrawdownCurrent decline from peak | -0.05% | -4.35% | +4.30% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -3.92% | +3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.37% | — |
Volatility
AMUN vs. PZT - Volatility Comparison
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Volatility by Period
| AMUN | PZT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.69% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.12% | 7.12% | -6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.12% | 6.55% | -5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.12% | 6.93% | -5.81% |