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Upturn AI SWOT - About
Invesco New York AMT-Free Municipal Bond ETF (PZT)
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Upturn Advisory Summary
09/16/2025: PZT (1-star) has a low Upturn Star Rating. Not recommended to BUY.
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 -3.08% | Avg. Invested days 32 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 09/16/2025 |
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 (PWZ) seeks to provide investment results that correspond to the price and yield of the ICE BofAML New York Long-Term Core Municipal Securities Index. It primarily focuses on investment-grade New York municipal bonds, offering tax-exempt income to New York residents. The ETF offers exposure to municipal debt obligations issued by the state of New York and its various subdivisions.
Reputation and Reliability
Invesco is a well-established global investment management firm with a strong reputation for providing a diverse range of investment products, including ETFs. They have a proven track record of managing fixed-income funds.
Management Expertise
Invesco's fixed-income team possesses significant experience in municipal bond management, utilizing a disciplined approach to credit analysis and portfolio construction.
Investment Objective
Goal
The primary investment goal is to seek current income exempt from federal and New York state income taxes by investing in New York municipal bonds.
Investment Approach and Strategy
Strategy: The ETF aims to replicate the performance of the ICE BofAML New York Long-Term Core Municipal Securities Index, which tracks the performance of investment-grade New York municipal bonds.
Composition The ETF primarily holds municipal bonds issued by the State of New York and its political subdivisions. It focuses on investment-grade securities to maintain a level of credit quality.
Market Position
Market Share: Insufficient data to provide an accurate market share for PWZ in its sector.
Total Net Assets (AUM): 88985601
Competitors
Key Competitors
- VNY
- HYNY
- MUB
Competitive Landscape
The municipal bond ETF market is moderately competitive, with several large players offering similar products. PWZ competes on tax-exempt income for NY residents. Its competitive advantage lies in Invesco's established brand. Competitors like MUB offer broader national diversification.
Financial Performance
Historical Performance: Historical performance data is unavailable without real-time data access.
Benchmark Comparison: Benchmark comparison is unavailable without real-time data access.
Expense Ratio: 0.28
Liquidity
Average Trading Volume
The average trading volume of PWZ is moderate, offering reasonable liquidity for most investors.
Bid-Ask Spread
The bid-ask spread for PWZ is typically tight, indicating relatively low trading costs.
Market Dynamics
Market Environment Factors
Interest rate changes, economic conditions in New York, and the overall health of the municipal bond market significantly affect PWZ's performance.
Growth Trajectory
The ETF's growth depends on investor demand for tax-exempt income and the supply of New York municipal bonds. Changes in state tax policy and infrastructure needs can influence its growth.
Moat and Competitive Advantages
Competitive Edge
PWZ's competitive advantage lies in its focus on New York municipal bonds, providing tax-exempt income specifically for New York residents. This niche focus can be attractive to investors seeking state-specific tax benefits. The fund's long-term nature helps stabilize the portfolio. Invesco's reputation and experience in fixed income further contribute to its competitive edge.
Risk Analysis
Volatility
PWZ exhibits moderate volatility, typical of municipal bond funds. It is generally less volatile than equity investments.
Market Risk
The primary risks include interest rate risk (bond prices fall as rates rise), credit risk (issuers may default), and state-specific economic risk (economic downturns in New York could impact bond values).
Investor Profile
Ideal Investor Profile
The ideal investor is a New York resident seeking tax-exempt income and diversification within their fixed-income portfolio. They are typically in a higher tax bracket and prioritize tax efficiency.
Market Risk
PWZ is best suited for long-term investors seeking stable income and tax advantages. It is less appropriate for active traders due to its moderate volatility and focus on income rather than capital appreciation.
Summary
The Invesco New York AMT-Free Municipal Bond ETF (PWZ) offers New York residents tax-exempt income through investments in state municipal bonds. It tracks the ICE BofAML New York Long-Term Core Municipal Securities Index and maintains a moderate risk profile. The ETF is suitable for long-term investors seeking a stable income stream with state-specific tax benefits. However, it's subject to interest rate and credit risks, specific to the NY market, and has moderate liquidity.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Invesco official website
- ICE BofAML Index data
- Various ETF analysis platforms.
Disclaimers:
This analysis is based on available information and is not financial advice. Investment decisions should be made in consultation with a qualified financial advisor.
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.