NYSE Arca · ETF
Invest in PZA ETF from India
Indian and foreign residents can buy Invesco National AMT-Free Municipal Bond ETF (PZA) units directly through Paasa.
By Paasa · Updated
PZA at a glance
- Price
- $21.50+$0.32 (1.51%)
- Expense ratio
- 0.28%
- Day range
- $21.31 – $21.52
- Assets
- $4.0B
- Domicile
- the US
- Holdings
- 7,186
- Launched
- 2007
- Dividends
- Distributing
- 1 month
- -5.08%
- 6 months
- -5.74%
- YTD
- -7.41%
- 1 year
- -6.89%
- 5 years
- -19.96%
Price change, excluding dividends.
Top 10 holdings
- 1USD Pending Dividends1.4%
- 2California Health Facilities Financing Authority 4.00% 11/01/20440.1%
- 3New York State Dormitory Authority 5.50% 07/01/20540.1%
- 4Hillsborough County Industrial Development Authority 3.58% 11/15/20420.1%
- 5Public Building Authority of Sevier County TN/The 3.55% 06/01/20340.1%
- 6Charlotte-Mecklenburg Hospital Authority/The 3.55% 01/15/20420.1%
- 7County of Jefferson AL Sewer Revenue 5.50% 10/01/20530.1%
- 8New York State Dormitory Authority 4.00% 02/15/20470.1%
- 9Salt River Project Agricultural Improvement & Power District 5.25% 01/01/20550.1%
- 10Triborough Bridge & Tunnel Authority 5.00% 05/15/20510.1%
PZA holds 7,186 securities in total. These 10 are 2.3% of the fund.
Where the money is invested
Countries
- Other100.0%
How to invest in PZA from India
Step 1
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.
Step 2
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.
Step 3
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.
Why invest in PZA from India
What PZA holds
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.
Hold a dollar asset
PZA is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one PZA unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy PZA from India?
Yes. Indian residents can buy Invesco National AMT-Free Municipal Bond ETF (PZA) through Paasa. It is listed on NYSE Arca and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does PZA invest in?
Invesco National AMT-Free Municipal Bond ETF holds 7,186 securities. Its largest holdings 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%). It is a distributing fund domiciled in the US.
What is the expense ratio of PZA?
Invesco National AMT-Free Municipal Bond ETF has an expense ratio of 0.28% a year, taken from the fund's assets rather than billed to you. The fund manages about $4.0B.
How are PZA dividends taxed in India?
Invesco National AMT-Free Municipal Bond ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell PZA?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one PZA unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $21.50, and there is no minimum trade size.
What happens to my PZA units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.