Screener
HTAX vs PZA
Nomura National High-Yield Municipal Bond ETF vs Invesco National AMT-Free Municipal Bond ETF
Key differences
Both HTAX and PZA are fixed income ETFs. HTAX charges 0.49% a year and PZA 0.28%. The main difference: HTAX follows a active selection strategy; PZA uses index tracking.
- HTAX follows a active selection strategy; PZA uses index tracking.
- PZA costs 0.21% less per year.
- PZA is much larger than HTAX. Larger funds are usually more liquid and less likely to close.
- PZA has a longer track record, which may reduce uncertainty around long-term behavior.
Side-by-side comparison
| HTAX | PZA | |
|---|---|---|
| Annual cost (TER) | 0.49% | 0.28% |
| Fund size (AUM) | $57M | $4.1B |
| Since | 2025 | 2007 |
| Dividend yield | 4.50% | 3.65% |
| Asset class | fixed income | fixed income |
| Region | north america | north america |
| Strategy | active selection | index tracking |
| CAGR 1Y | +9.0% | +8.7% |
| CAGR 3Y | N/A | +3.2% |
| CAGR 5Y | N/A | -0.0% |
| Sharpe 3Y | N/A | -0.03 |
| Volatility 1Y | 4.70% | 4.23% |
| Max drawdown | -6.10% | -21.69% |
Beyond the comparison: Beacon helps you build, track, and project a portfolio with the ETFs you pick.