Invesco National AMT-Free Municipal Bond ETF PZA is a solid choice for exposure to the long-term, investment-grade, tax-exempt bond market. While cheaper than most, there are still cheaper alternatives. As a result, the fund earns a Morningstar Analyst Rating of Bronze.
Will PZA outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PZA’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PZA management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PZA’s parent organization’s priorities and whether they’re in line with investors’ interests.