PWZ — Invesco California AMT-Free Municipal Bond ETF
Data updated: 2026-07-29
PWZ — Invesco California AMT-Free Municipal Bond ETF data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Long Municipal - National Bond · $1.13B AUM · 0.28% expense ratio · 8.0% 1-yr return. From SEC regulatory filings.
PWZ Fund Overview
PWZ — Invesco California AMT-Free Municipal Bond ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust II, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Invesco Exchange-Traded Fund Trust II
- Category: Long Municipal - National Bond
- Assets under management: $1.13B
- 1-year return: 8.0%
- Ticker: PWZ
- SEC CIK: 0001378872
- SEC series ID: S000019411
- Share class ID: C000053967
PWZ Holdings
Top 10 holdings of Invesco California AMT-Free Municipal Bond ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| State of California | 0.75% |
| California (State of) Health Facilities Financing Authority (Kaiser Permanente) | 0.74% |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) | 0.67% |
| Regents of the University of California Medical Center | 0.63% |
| California (State of) Educational Facilities Authority | 0.58% |
| California (State of) Educational Facilities Authority (Stanford University) | 0.54% |
| Regents of the University of California Medical Center | 0.53% |
| Los Angeles Unified School District | 0.50% |
| Foothill-Eastern Transportation Corridor Agency | 0.45% |
| San Diego Community College District | 0.43% |
PWZ Portfolio Allocation
Asset-class allocation of Invesco California AMT-Free Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.3% |
PWZ Performance
Total returns for PWZ (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.9% |
| 1 year | 8.0% |
| 3 years (annualised) | 3.2% |
| 5 years (annualised) | 0.1% |
PWZ Risk Information
Risk metrics for PWZ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.5%
PWZ Costs and Fees
PWZ costs about $28 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.28%
- Gross expense ratio: 0.28%
- Portfolio turnover: 5%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
PWZ Cashflows
Over the 12 months to 2026-02, Invesco California AMT-Free Municipal Bond ETF had net inflows of $358.09M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-02 | $7.39M |
| 2026-01 | −$18.14M |
| 2025-12 | $4.83M |
| 2025-11 | −$1.21M |
| 2025-10 | −$18.21M |
| 2025-09 | $84.03M |
PWZ Debt Constituents
Largest debt holdings of Invesco California AMT-Free Municipal Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| State of California | 0.75% |
| California (State of) Health Facilities Financing Authority (Kaiser Permanente) | 0.74% |
| California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center) | 0.67% |
| Regents of the University of California Medical Center | 0.63% |
| California (State of) Educational Facilities Authority | 0.58% |
| California (State of) Educational Facilities Authority (Stanford University) | 0.54% |
| Regents of the University of California Medical Center | 0.53% |
| Los Angeles Unified School District | 0.50% |
| Foothill-Eastern Transportation Corridor Agency | 0.45% |
| San Diego Community College District | 0.43% |
PWZ Prospectus and SEC Filings
Official Invesco California AMT-Free Municipal Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.