PWZ ETF Analysis: California AMT-Free | NYSE

Muni California Long | NYSE, USA | Market Cap: 1.196m USD | 12M Return: -2.3% | US46138E2063 | Charts, Fundamentals & Technical Analysis

California Municipal Bonds, Tax-Exempt Debt, Long-Term Bonds, U.S. Territory Bonds
Total Rating 33
Safety 57
Buy Signal -0.28
Muni California Long
Category Rotation: +3.0
TER: 0.28%
AUM: 1.20B
Avg Turnover: 20.0M
Risk 3d forecast
Volatility9.64%
VaR 5th Pctl1.74%
VaR vs Median0.33%
Reward TTM
Sharpe Ratio-1.45
Rel. Str. IBD23
Rel. Str. Peer Group25
Character TTM
Beta0.107
Beta Downside0.129
Hurst Exponent0.592
Drawdowns 3y
Max DD9.08%
CAGR/Max DD0.22
CAGR/Mean DD0.98

Warnings

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.7 years of data

Jan +0.1% 17
Feb -0.2% 8
Mar +0.0% 5
Apr +0.1% 5
May +0.1% 15
Jun +0.1% 10
Jul +0.3% 26
Aug -0.1% 27
Sep -1.2% 44
Oct -0.8% 39
Nov +0.9% 32
Dec +0.5% 12

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: PWZ California AMT-Free

The Invesco California AMT-Free Municipal Bond ETF (PWZ) invests at least 80% of its total assets in components of an index composed of U.S. dollar-denominated, tax-exempt municipal debt publicly issued by California or any U.S. territory and their political subdivisions in the domestic market. The fund is structured as a non-diversified ETF, concentrating exposure on California-issued municipal bonds that are exempt from the federal alternative minimum tax (AMT). This structure typically targets income-focused investors in higher tax brackets seeking state-specific, federally tax-advantaged fixed income exposure.

Headlines to Watch Out For
  • Fed rate cuts lift long-duration California municipal bond prices
  • California budget shortfalls widen muni credit spreads
  • Tax-exempt income demand rises ahead of federal filing deadline
What is the price of PWZ shares?

As of September 27, 2026, the stock is trading at USD 22.44 with a total of 1,897,881 shares traded. Over the past week, the price has changed by -1.91%, over one month by -5.57%, over three months by -7.36% and over the past year by -2.34%.

Current recommended Stop Loss: 22.20 (which is 1.1% or 1.6 ATR below the current price).

Is PWZ a buy, sell or hold?

California AMT-Free has no consensus analysts rating.