PWZ vs FLHY
Comparison between INVESCO CALIFORNIA AMT-FREE MUNICIPAL BOND ETF (PWZ, ETF) and FRANKLIN HIGH YIELD CORPORATE ETF (FLHY, ETF).
5-Year PerformanceFLHY has outperformed PWZ, delivering a return of +4.6% compared to +0.1%
PWZ vs FLHY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
PWZ vs FLHY - Historical Returns
Returns include dividend reinvestment.
PWZ vs FLHY - Annual Returns (2007 - 2026)
Returns include dividend reinvestment.
| Year | PWZ | FLHY |
|---|---|---|
| 2026 | +2.76% | +2.07% |
| 2025 | +1.55% | +9.08% |
| 2024 | +2.03% | +8.69% |
| 2023 | +6.20% | +13.35% |
| 2022 | -11.22% | -10.35% |
| 2021 | +1.80% | +4.62% |
| 2020 | +4.94% | +7.41% |
| 2019 | +8.51% | +16.64% |
| 2018 | +0.63% | -1.32% |
| 2017 | +6.56% | N/A |
| 2016 | +0.51% | N/A |
| 2015 | +3.23% | N/A |
| 2014 | +15.24% | N/A |
| 2013 | -4.57% | N/A |
| 2012 | +8.85% | N/A |
| 2011 | +12.31% | N/A |
| 2010 | +0.40% | N/A |
| 2009 | +14.61% | N/A |
| 2008 | -10.62% | N/A |
| 2007 | +0.63% | N/A |
PWZ vs FLHY Drawdown Comparison
The maximum drawdown for PWZ was -21.49%, occurring on Dec 16, 2008. Recovery took 414 trading sessions.
The maximum drawdown for FLHY was -22.58%, occurring on Mar 23, 2020. Recovery took 116 trading sessions.
The current PWZ drawdown is -0.63%. The current FLHY drawdown is -0.31%.
| Rank | PWZ | FLHY |
|---|---|---|
| #1 | -21.49% Jan 15, 2008 - Sep 4, 2009 | -22.58% Feb 12, 2020 - Jul 29, 2020 |
| #2 | -17.56% Jul 19, 2021 - Jun 24, 2026 | -15.19% Dec 27, 2021 - Dec 13, 2023 |
| #3 | -13.10% Mar 9, 2020 - Aug 11, 2020 | -5.44% Sep 28, 2018 - Jan 18, 2019 |
| #4 | -11.55% Sep 29, 2010 - Aug 4, 2011 | -4.50% Mar 3, 2025 - May 12, 2025 |
| #5 | -11.26% May 2, 2013 - Apr 11, 2014 | -2.48% Sep 15, 2021 - Dec 22, 2021 |
| #6 | -7.29% Jul 7, 2016 - Aug 30, 2017 | -2.46% Sep 2, 2020 - Oct 7, 2020 |
| #7 | -4.89% Oct 5, 2009 - Apr 30, 2010 | -2.43% Feb 18, 2026 - Apr 9, 2026 |
| #8 | -3.28% Feb 2, 2015 - Nov 18, 2015 | -2.42% Feb 12, 2021 - May 3, 2021 |
| #9 | -3.02% Dec 6, 2017 - Dec 28, 2018 | -1.75% Mar 27, 2024 - May 3, 2024 |
| #10 | -2.81% Feb 11, 2021 - Jun 3, 2021 | -1.61% Oct 12, 2020 - Nov 5, 2020 |
| #11 | -2.24% Aug 11, 2020 - Nov 20, 2020 | -1.60% Apr 30, 2019 - Jun 11, 2019 |
| #12 | -2.20% Oct 22, 2007 - Jan 8, 2008 | -1.55% Dec 4, 2024 - Jan 21, 2025 |
| #13 | -2.04% Sep 22, 2011 - Dec 12, 2011 | -1.52% Dec 27, 2023 - Jan 29, 2024 |
| #14 | -1.99% Nov 28, 2012 - May 1, 2013 | -1.42% Jul 3, 2019 - Aug 27, 2019 |
| #15 | -1.81% Aug 28, 2019 - Jan 6, 2020 | -1.40% Jan 16, 2020 - Feb 11, 2020 |
Correlation
Correlation between PWZ and FLHY is 0.65 which considered as a moderate positive correlation - the stocks show some tendency to move together.
Dividend Comparison (2007 - 2026)
PWZ vs FLHY dividend yield comparison.
| Year | PWZ | FLHY |
|---|---|---|
| 2026 | 1.88% | 3.17% |
| 2025 | 3.41% | 6.53% |
| 2024 | 3.28% | 6.51% |
| 2023 | 2.85% | 6.26% |
| 2022 | 2.49% | 6.54% |
| 2021 | 2.28% | 5.76% |
| 2020 | 2.34% | 5.47% |
| 2019 | 2.51% | 5.61% |
| 2018 | 2.53% | 4.27% |
| 2017 | 2.48% | 0.00% |
| 2016 | 2.86% | 0.00% |
| 2015 | 3.16% | 0.00% |
| 2014 | 3.80% | 0.00% |
| 2013 | 3.97% | 0.00% |
| 2012 | 3.94% | 0.00% |
| 2011 | 4.29% | 0.00% |
| 2010 | 4.74% | 0.00% |
| 2009 | 4.65% | 0.00% |
| 2008 | 4.88% | 0.00% |
| 2007 | 0.94% | 0.00% |
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