IBDT vs PZA

Comparison between ISHARES IBONDS DEC 2028 TERM CORPORATE ETF (IBDT, ETF) and INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF).

5-Year PerformanceIBDT has outperformed PZA, delivering a return of +1.5% compared to +0.0%

IBDT vs PZA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IBDT(ETF)	PZA(ETF)
Net Assets	$3.80B	$3.90B
Expense Ratio	0.10%	0.28%
Max Drawdown	21.32%	27.00%
Sharpe Ratio	0.68	0.66
5Y Beta	0.03	0.04
5Y Dividends CAGR	9.54%	5.46%

Net Assets

IBDT

$3.80B

Winner

PZA

$3.90B

Expense Ratio

Winner

IBDT

0.10%

PZA

0.28%

Max Drawdown

Winner

IBDT

21.32%

PZA

27.00%

Sharpe Ratio

Winner

IBDT

0.68

PZA

0.66

5Y Beta

Winner

IBDT

0.03

PZA

0.04

5Y Dividends CAGR

Winner

IBDT

9.54%

PZA

5.46%

IBDT vs PZA - Historical Returns

Returns include dividend reinvestment.

Period	IBDT	PZA
1 month	+0.33%	+0.70%
3 months	+0.20%	+0.69%
6 months	+1.55%	+2.02%
1 year	+5.08%	+6.73%
5 years(CAGR)	+1.45%	+0.03%
10 years(CAGR)	N/A	+1.88%
Max(CAGR)	+3.91%	+3.22%

IBDT

+0.33%

Winner

PZA

+0.70%

IBDT

+0.20%

Winner

PZA

+0.69%

IBDT

+1.55%

Winner

PZA

+2.02%

IBDT

+5.08%

Winner

PZA

+6.73%

5Y(CAGR)

Winner

IBDT

+1.45%

PZA

+0.03%

10Y(CAGR)

IBDT

N/A

PZA

+1.88%

Max(CAGR)

Winner

IBDT

+3.91%

PZA

+3.22%

IBDT vs PZA - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	IBDT	PZA
2026	+0.71%	+1.58%
2025	+6.93%	+1.38%
2024	+4.34%	+0.81%
2023	+7.32%	+7.75%
2022	-11.23%	-13.00%
2021	-1.91%	+2.26%
2020	+9.66%	+4.91%
2019	+15.26%	+8.48%
2018	+1.18%	+0.07%
2017	N/A	+6.78%
2016	N/A	+0.62%
2015	N/A	+3.65%
2014	N/A	+15.05%
2013	N/A	-6.96%
2012	N/A	+9.84%
2011	N/A	+13.58%
2010	N/A	-0.41%
2009	N/A	+17.92%
2008	N/A	-12.12%
2007	N/A	+0.75%

IBDT vs PZA Drawdown Comparison

The maximum drawdown for IBDT was -17.79%, occurring on Mar 20, 2020. Recovery took 69 trading sessions.

The maximum drawdown for PZA was -24.48%, occurring on Oct 15, 2008. Recovery took 416 trading sessions.

The current PZA drawdown is -1.70%.

Rank	IBDT	PZA
#1	-17.79% Mar 6, 2020 - Jun 15, 2020	-24.48% Jan 17, 2008 - Sep 11, 2009
#2	-17.69% Aug 2, 2021 - May 29, 2025	-21.69% Mar 9, 2020 - Dec 7, 2020
#3	-4.41% Dec 30, 2020 - Aug 2, 2021	-18.55% Jul 19, 2021 - Oct 25, 2022
#4	-2.61% Sep 4, 2019 - Dec 3, 2019	-12.46% Nov 30, 2012 - Jul 14, 2014
#5	-1.82% Oct 2, 2018 - Dec 28, 2018	-11.77% May 10, 2010 - Aug 3, 2011
#6	-1.66% Aug 4, 2020 - Nov 19, 2020	-7.07% Jul 8, 2016 - Aug 29, 2017
#7	-1.36% Jul 3, 2019 - Aug 1, 2019	-4.07% Oct 1, 2009 - Apr 27, 2010
#8	-1.03% Feb 23, 2026 - May 8, 2026	-3.43% Feb 2, 2015 - Nov 19, 2015
#9	-1.01% Jan 31, 2019 - Feb 26, 2019	-3.00% Dec 29, 2017 - Jan 2, 2019
#10	-0.86% Jun 17, 2020 - Jul 1, 2020	-2.99% Oct 24, 2007 - Jan 2, 2008
#11	-0.78% Mar 27, 2019 - Apr 10, 2019	-2.80% Feb 10, 2021 - May 28, 2021
#12	-0.69% Apr 10, 2019 - Apr 26, 2019	-2.29% Sep 22, 2011 - Dec 14, 2011
#13	-0.67% Nov 30, 2020 - Dec 18, 2020	-1.72% Sep 3, 2019 - Jan 6, 2020
#14	-0.61% Dec 3, 2019 - Dec 27, 2019	-1.72% Oct 15, 2014 - Dec 12, 2014
#15	-0.53% Feb 26, 2019 - Mar 8, 2019	-1.58% Feb 2, 2012 - Apr 13, 2012

Correlation

Correlation between IBDT and PZA is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (2007 - 2026)

IBDT vs PZA dividend yield comparison.

Year	IBDT	PZA
2026	1.48%	1.22%
2025	4.56%	3.55%
2024	4.67%	3.22%
2023	4.10%	2.91%
2022	3.25%	2.68%
2021	2.45%	2.34%
2020	2.80%	2.44%
2019	3.32%	2.81%
2018	1.47%	3.19%
2017	0.00%	3.04%
2016	0.00%	3.23%
2015	0.00%	3.59%
2014	0.00%	3.96%
2013	0.00%	4.27%
2012	0.00%	4.11%
2011	0.00%	4.48%
2010	0.00%	4.90%
2009	0.00%	4.68%
2008	0.00%	5.07%
2007	0.00%	0.93%