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Upturn AI SWOT - About
Invesco New York AMT-Free Municipal Bond ETF (PZT)
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Upturn Advisory Summary
07/31/2025: PZT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit -5.92% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 07/31/2025 |
Key Highlights
Volume (30-day avg) - | Beta 1.38 | 52 Weeks Range 20.02 - 23.41 | Updated Date 06/30/2025 |
52 Weeks Range 20.02 - 23.41 | Updated Date 06/30/2025 |
Upturn AI SWOT
Invesco New York AMT-Free Municipal Bond ETF
ETF Overview
Overview
The Invesco New York AMT-Free Municipal Bond ETF (PNY) seeks to track the investment results of the ICE BofA New York Long-Term Core Municipal Securities Index. It provides exposure to a broad range of investment-grade New York municipal bonds, offering tax-exempt income for New York residents.
Reputation and Reliability
Invesco is a well-established global investment management firm with a strong reputation and a long track record of managing ETFs.
Management Expertise
Invesco has a team of experienced portfolio managers specializing in fixed income and municipal bond investments.
Investment Objective
Goal
Seeks investment results that correspond generally to the price and yield of the ICE BofA New York Long-Term Core Municipal Securities Index.
Investment Approach and Strategy
Strategy: PNY employs a passive management strategy, attempting to replicate the index by investing in a portfolio of New York municipal bonds that closely resembles the index's composition.
Composition The ETF primarily holds a diverse portfolio of investment-grade municipal bonds issued by the state of New York and its various municipalities.
Market Position
Market Share: Insufficient data to provide precise market share.
Total Net Assets (AUM): 83645239
Competitors
Key Competitors
- MUB
- ITM
- HYD
- VTEB
Competitive Landscape
The municipal bond ETF market is competitive, dominated by large, broadly diversified national municipal bond funds like MUB. PNY offers a more targeted approach, focusing solely on New York municipal bonds, which may appeal to investors seeking tax-exempt income specifically from New York sources. A disadvantage is its lower diversification and potential for greater concentration risk compared to broader municipal bond ETFs.
Financial Performance
Historical Performance: Historical performance data is best obtained from financial data providers and would be array based on years.
Benchmark Comparison: Benchmark comparisons are best obtained from financial data providers that offer such performance data.
Expense Ratio: 0.28
Liquidity
Average Trading Volume
The ETF's average trading volume reflects adequate liquidity for most retail investors, though it is lower than broader national municipal bond ETFs.
Bid-Ask Spread
The typical bid-ask spread is generally competitive within the municipal bond ETF sector, offering efficient trading opportunities.
Market Dynamics
Market Environment Factors
Economic conditions in New York, interest rate movements, and changes in tax laws significantly influence PNY's performance. Overall demand for municipal bonds also impacts the ETF.
Growth Trajectory
PNY's growth is dependent on investor demand for tax-exempt income from New York municipal bonds; changes in tax policy or interest rates can impact its attractiveness.
Moat and Competitive Advantages
Competitive Edge
PNY's competitive advantage lies in its targeted focus on New York municipal bonds, providing tax-exempt income specifically for New York residents. This specialization allows it to cater to investors seeking state-specific tax benefits. It is a smaller ETF with lower liquidity than its competitors. This targeted strategy differentiates it from broader national municipal bond ETFs.
Risk Analysis
Volatility
PNY's volatility is generally lower than equity ETFs, reflecting the relatively stable nature of investment-grade municipal bonds.
Market Risk
Market risks include interest rate risk, credit risk of the underlying municipal bond issuers, and potential changes in New York state tax laws.
Investor Profile
Ideal Investor Profile
The ideal investor is a New York resident seeking tax-exempt income and diversification within their fixed income portfolio.
Market Risk
PNY is most suitable for long-term investors seeking steady, tax-advantaged income rather than active trading or short-term gains.
Summary
The Invesco New York AMT-Free Municipal Bond ETF (PNY) offers targeted exposure to New York municipal bonds, providing tax-exempt income for New York residents. It replicates the ICE BofA New York Long-Term Core Municipal Securities Index and has a passive investment strategy. It is suitable for long-term investors seeking tax-advantaged income, although its liquidity is relatively lower than that of its key competitors. Its success hinges on economic conditions and tax laws in New York.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Invesco Official Website
- ICE Data Indices, LLC.
- Morningstar
- Bloomberg
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered investment advice. Past performance is not indicative of future results. Market share and AUM data may be approximate and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Invesco New York AMT-Free Municipal Bond ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund generally will invest at least 80% of its total assets in the components of the underlying index. The index is composed of U.S. dollar-denominated, investment grade, tax-exempt debt publicly issued by New York or any U.S. territory and their political subdivisions, in the U.S. domestic market. It is non-diversified.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.