Screener
LTAX vs PZA
Nomura Tax-Free USA ETF vs Invesco National AMT-Free Municipal Bond ETF
Key differences
Both LTAX and PZA are fixed income ETFs. LTAX charges 0.39% a year and PZA 0.28%. The main difference: LTAX follows a active selection strategy; PZA uses index tracking.
- LTAX follows a active selection strategy; PZA uses index tracking.
- PZA costs 0.11% less per year.
- PZA is much larger than LTAX. 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
| LTAX | PZA | |
|---|---|---|
| Annual cost (TER) | 0.39% | 0.28% |
| Fund size (AUM) | $6M | $4.1B |
| Since | 2026 | 2007 |
| Dividend yield | — | 3.65% |
| Asset class | fixed income | fixed income |
| Region | north america | north america |
| Strategy | active selection | index tracking |
| CAGR 1Y | N/A | +8.7% |
| CAGR 3Y | N/A | +3.2% |
| CAGR 5Y | N/A | -0.0% |
| Sharpe 3Y | N/A | -0.03 |
| Volatility 1Y | — | 4.23% |
| Max drawdown | -3.19% | -21.69% |
Beyond the comparison: Beacon helps you build, track, and project a portfolio with the ETFs you pick.