PZT vs. RSP
Compare and contrast key facts about Invesco New York AMT-Free Municipal Bond ETF (PZT) and Invesco S&P 500 Equal Weight ETF (RSP).
PZT and RSP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. RSP is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Apr 24, 2003. Both PZT and RSP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PZT vs. RSP - Performance Comparison
Loading graphics...
PZT vs. RSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | -0.18% | 1.76% | 1.17% | 7.57% | -13.04% | 2.67% | 5.89% | 9.52% | -0.55% | 6.21% |
RSP Invesco S&P 500 Equal Weight ETF | 0.62% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
Returns By Period
In the year-to-date period, PZT achieves a -0.18% return, which is significantly lower than RSP's 0.62% return. Over the past 10 years, PZT has underperformed RSP with an annualized return of 1.79%, while RSP has yielded a comparatively higher 11.17% annualized return.
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%
RSP
- 1D
- 2.05%
- 1M
- -5.97%
- YTD
- 0.62%
- 6M
- 2.01%
- 1Y
- 12.65%
- 3Y*
- 11.72%
- 5Y*
- 7.81%
- 10Y*
- 11.17%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PZT vs. RSP - Expense Ratio Comparison
PZT has a 0.28% expense ratio, which is higher than RSP's 0.20% expense ratio.
Return for Risk
PZT vs. RSP — Risk / Return Rank
PZT
RSP
PZT vs. RSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco New York AMT-Free Municipal Bond ETF (PZT) and Invesco S&P 500 Equal Weight ETF (RSP). 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.
| PZT | RSP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.50 | 0.74 | -0.24 |
Sortino ratioReturn per unit of downside risk | 0.71 | 1.15 | -0.44 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.16 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.49 | 1.08 | -0.59 |
Martin ratioReturn relative to average drawdown | 1.24 | 4.89 | -3.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PZT | RSP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 0.74 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.48 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.61 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.55 | -0.19 |
Correlation
The correlation between PZT and RSP is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
PZT vs. RSP - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 3.58%, more than RSP's 1.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RSP Invesco S&P 500 Equal Weight ETF | 1.62% | 1.64% | 1.52% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% |
Drawdowns
PZT vs. RSP - Drawdown Comparison
The maximum PZT drawdown since its inception was -22.73%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PZT and RSP.
Loading graphics...
Drawdown Indicators
| PZT | RSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.73% | -59.92% | +37.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -12.54% | +6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -19.13% | -21.38% | +2.25% |
Max Drawdown (10Y)Largest decline over 10 years | -19.13% | -39.04% | +19.91% |
Current DrawdownCurrent decline from peak | -4.35% | -5.97% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -6.69% | +2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.78% | -0.41% |
Volatility
PZT vs. RSP - Volatility Comparison
The current volatility for Invesco New York AMT-Free Municipal Bond ETF (PZT) is 1.73%, while Invesco S&P 500 Equal Weight ETF (RSP) has a volatility of 4.47%. This indicates that PZT experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PZT | RSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 4.47% | -2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 8.83% | -6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.12% | 17.17% | -10.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 16.20% | -9.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 18.36% | -11.43% |