IVLU vs PZA

Comparison between ISHARES MSCI INTL VALUE FACTOR ETF (IVLU, ETF) and INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF).

5-Year PerformanceIVLU has outperformed PZA, delivering a return of +14.2% compared to +0.0%

IVLU vs PZA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IVLU(ETF)	PZA(ETF)
Net Assets	$3.80B	$3.90B
Expense Ratio	0.31%	0.28%
Max Drawdown	45.37%	27.00%
Sharpe Ratio	2.07	0.66
5Y Beta	0.69	0.04
5Y Dividends CAGR	18.76%	5.46%

Net Assets

IVLU

$3.80B

Winner

PZA

$3.90B

Expense Ratio

IVLU

0.31%

Winner

PZA

0.28%

Max Drawdown

IVLU

45.37%

Winner

PZA

27.00%

Sharpe Ratio

Winner

IVLU

2.07

PZA

0.66

5Y Beta

IVLU

0.69

Winner

PZA

0.04

5Y Dividends CAGR

Winner

IVLU

18.76%

PZA

5.46%

IVLU vs PZA - Historical Returns

Returns include dividend reinvestment.

Period	IVLU	PZA
1 month	+1.20%	+0.70%
3 months	-0.40%	+0.69%
6 months	+18.69%	+2.02%
1 year	+39.66%	+6.73%
5 years(CAGR)	+14.21%	+0.03%
10 years(CAGR)	+11.10%	+1.88%
Max(CAGR)	+8.52%	+3.22%

Winner

IVLU

+1.20%

PZA

+0.70%

IVLU

-0.40%

Winner

PZA

+0.69%

Winner

IVLU

+18.69%

PZA

+2.02%

Winner

IVLU

+39.66%

PZA

+6.73%

5Y(CAGR)

Winner

IVLU

+14.21%

PZA

+0.03%

10Y(CAGR)

Winner

IVLU

+11.10%

PZA

+1.88%

Max(CAGR)

Winner

IVLU

+8.52%

PZA

+3.22%

IVLU vs PZA - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	IVLU	PZA
2026	+9.61%	+1.58%
2025	+46.91%	+1.38%
2024	+7.34%	+0.81%
2023	+18.89%	+7.75%
2022	-6.63%	-13.00%
2021	+15.17%	+2.26%
2020	-5.66%	+4.91%
2019	+15.74%	+8.48%
2018	-15.89%	+0.07%
2017	+21.93%	+6.78%
2016	+5.31%	+0.62%
2015	-10.18%	+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%

IVLU vs PZA Drawdown Comparison

The maximum drawdown for IVLU was -41.86%, occurring on Mar 23, 2020. Recovery took 824 trading sessions.

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

The current IVLU drawdown is -1.86%. The current PZA drawdown is -1.70%.

Rank	IVLU	PZA
#1	-41.86% Jan 26, 2018 - May 6, 2021	-24.48% Jan 17, 2008 - Sep 11, 2009
#2	-26.01% Feb 9, 2022 - Jun 15, 2023	-21.69% Mar 9, 2020 - Dec 7, 2020
#3	-24.85% Aug 5, 2015 - May 5, 2017	-18.55% Jul 19, 2021 - Oct 25, 2022
#4	-15.48% Mar 19, 2025 - May 9, 2025	-12.46% Nov 30, 2012 - Jul 14, 2014
#5	-11.69% Feb 25, 2026 - Mar 20, 2026	-11.77% May 10, 2010 - Aug 3, 2011
#6	-9.66% Jul 31, 2023 - Dec 13, 2023	-7.07% Jul 8, 2016 - Aug 29, 2017
#7	-9.13% Jun 7, 2021 - Jan 7, 2022	-4.07% Oct 1, 2009 - Apr 27, 2010
#8	-8.95% Sep 26, 2024 - Feb 14, 2025	-3.43% Feb 2, 2015 - Nov 19, 2015
#9	-8.04% Jul 17, 2024 - Aug 23, 2024	-3.00% Dec 29, 2017 - Jan 2, 2019
#10	-5.41% Nov 12, 2025 - Dec 2, 2025	-2.99% Oct 24, 2007 - Jan 2, 2008
#11	-5.00% May 15, 2024 - Jul 12, 2024	-2.80% Feb 10, 2021 - May 28, 2021
#12	-4.82% Jan 14, 2022 - Feb 9, 2022	-2.29% Sep 22, 2011 - Dec 14, 2011
#13	-4.22% Apr 9, 2024 - May 6, 2024	-1.72% Sep 3, 2019 - Jan 6, 2020
#14	-3.86% Jul 23, 2025 - Aug 8, 2025	-1.72% Oct 15, 2014 - Dec 12, 2014
#15	-3.56% Oct 3, 2025 - Oct 27, 2025	-1.58% Feb 2, 2012 - Apr 13, 2012

Correlation

Correlation between IVLU and PZA is 0.54 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.54

-101

Dividend Comparison (2007 - 2026)

IVLU vs PZA dividend yield comparison.

Year	IVLU	PZA
2026	0.00%	1.22%
2025	3.71%	3.55%
2024	4.46%	3.22%
2023	4.69%	2.91%
2022	3.59%	2.68%
2021	3.47%	2.34%
2020	2.05%	2.44%
2019	3.53%	2.81%
2018	2.82%	3.19%
2017	2.87%	3.04%
2016	2.53%	3.23%
2015	0.93%	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%