Screener
LTAX vs PWZ
Nomura Tax-Free USA ETF vs Invesco California AMT-Free Municipal Bond ETF
Key differences
Both LTAX and PWZ are fixed income ETFs. LTAX charges 0.39% a year and PWZ 0.28%. The main difference: LTAX follows a active selection strategy; PWZ uses index tracking.
- LTAX follows a active selection strategy; PWZ uses index tracking.
- PWZ costs 0.11% less per year.
- PWZ is much larger than LTAX. Larger funds are usually more liquid and less likely to close.
- PWZ has a longer track record, which may reduce uncertainty around long-term behavior.
Side-by-side comparison
| LTAX | PWZ | |
|---|---|---|
| Annual cost (TER) | 0.39% | 0.28% |
| Fund size (AUM) | $6M | $1.1B |
| Since | 2026 | 2007 |
| Dividend yield | — | 3.59% |
| Asset class | fixed income | fixed income |
| Region | north america | north america |
| Strategy | active selection | index tracking |
| CAGR 1Y | N/A | +8.6% |
| CAGR 3Y | N/A | +3.1% |
| CAGR 5Y | N/A | +0.1% |
| Sharpe 3Y | N/A | -0.04 |
| Volatility 1Y | — | 4.33% |
| Max drawdown | -3.19% | -17.73% |
Beyond the comparison: Beacon helps you build, track, and project a portfolio with the ETFs you pick.