Invesco National AMT-Free Municipal Bond ETF
Invesco National AMT-Free Municipal Bond ETF (AMEX: PZA) is an exchange-traded fund listed on NYSE Arca, trading at $21.48 (about ₹2,063 a unit) as of 30 Sep 2026, 12:31 PM ET. It has an expense ratio of 0.28% and holds 7,186 securities. Indian residents can buy PZA through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$21.31
Today's high
$21.52
52 week low
$21.11
52 week high
$23.63
PZA opened at $21.31, closed previously at $21.18, and has traded between $21.11 and $23.63 over the past 52 weeks.
About
The Invesco National AMT-Free Municipal Bond ETF (PZA) aims to track the investment results of The ICE BofAML National Long-Term Core Plus Municipal Securities Index. The ETF typically allocates a minimum of 80% of its total holdings to municipal bonds that are both constituents of this Index and exempt from the federal alternative minimum tax. The underlying Index is composed of U.S. dollar-denominated, high-quality, tax-exempt debt instruments publicly issued by U.S. states, territories, or their local government entities within the domestic market, provided they have a remaining maturity of at least 15 years. The Index components are adjusted monthly and weighted by their current outstanding market value. Instead of purchasing every security in the Index, the Fund employs a "sampling" methodology, investing in a representative selection of bonds to fulfill its investment objective. Both the Fund and its benchmark Index undergo monthly rebalancing and reconstitution.
Key statistics
Expense ratio
0.28%
Assets (AUM)
$4.0B
Holdings
7,186
NAV
$21.15
Avg. volume
—
1-year price change
-6.97%
5-year price change
-20.03%
Price change excludes dividends.
Top 10 holdings
PZA holds 7,186 securities in total. These 10 are 2.3% of the fund.
Where the money is invested
Countries
How to buy PZA from India
Indian residents can buy PZA units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search PZA and buy
Find the fund by its ticker, PZA, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in PZA from India
Trading and taxes when buying PZA from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the PZA price today?
Invesco National AMT-Free Municipal Bond ETF (PZA) last traded at $21.48 on NYSE Arca, as of 30 Sep 2026, 12:31 PM ET. That is ₹2,063 a unit at the 29 Sep 2026 USD/INR rate.
When does PZA trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is PZA, and what does it cost to hold?
Invesco National AMT-Free Municipal Bond ETF manages about $4.0B. Its expense ratio is 0.28% a year, deducted inside the fund. It launched in 2007.
What are PZA's largest holdings?
The top three are USD Pending Dividends (1.4%), California Health Facilities Financing Authority 4.00% 11/01/2044 (0.1%) and New York State Dormitory Authority 5.50% 07/01/2054 (0.1%). PZA's 10 largest positions make up 2.3% of the fund.
Does PZA pay dividends?
Yes. PZA is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on PZA taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of PZA?
Yes. You can buy PZA by amount rather than by whole unit, and there is no minimum trade size.
How has PZA performed?
PZA's price is down 7.0% over the past year and down 20.0% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.