PZA vs EUFN

Comparison between INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF) and ISHARES MSCI EUROPE FINANCIALS ETF (EUFN, ETF).

5-Year PerformanceEUFN has outperformed PZA, delivering a return of +22.0% compared to -0.5%

PZA vs EUFN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PZA(ETF)	EUFN(ETF)
Net Assets	$4.20B	$4.20B
Expense Ratio	0.28%	0.49%
Max Drawdown	27.00%	59.14%
Sharpe Ratio	0.70	1.14
5Y Beta	0.06	0.83
5Y Dividends CAGR	6.50%	30.11%

Net Assets

PZA

$4.20B

EUFN

$4.20B

Expense Ratio

Winner

PZA

0.28%

EUFN

0.49%

Max Drawdown

Winner

PZA

27.00%

EUFN

59.14%

Sharpe Ratio

PZA

0.70

Winner

EUFN

1.14

5Y Beta

Winner

PZA

0.06

EUFN

0.83

5Y Dividends CAGR

PZA

6.50%

Winner

EUFN

30.11%

PZA vs EUFN - Historical Returns

Returns include dividend reinvestment.

Period	PZA	EUFN
1 month	-1.28%	+4.71%
3 months	+0.13%	+12.95%
6 months	-1.14%	+14.68%
1 year	+7.06%	+28.45%
5 years(CAGR)	-0.46%	+21.97%
10 years(CAGR)	+1.56%	+14.42%
Max(CAGR)	+3.10%	+7.84%

PZA

-1.28%

Winner

EUFN

+4.71%

PZA

+0.13%

Winner

EUFN

+12.95%

PZA

-1.14%

Winner

EUFN

+14.68%

PZA

+7.06%

Winner

EUFN

+28.45%

5Y(CAGR)

PZA

-0.46%

Winner

EUFN

+21.97%

10Y(CAGR)

PZA

+1.56%

Winner

EUFN

+14.42%

Max(CAGR)

PZA

+3.10%

Winner

EUFN

+7.84%

PZA vs EUFN - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	PZA	EUFN
2026	+0.29%	+15.87%
2025	+1.38%	+67.60%
2024	+0.81%	+18.14%
2023	+7.75%	+24.26%
2022	-13.00%	-9.61%
2021	+2.26%	+19.77%
2020	+4.91%	-9.99%
2019	+8.48%	+21.29%
2018	+0.07%	-23.77%
2017	+6.78%	+24.49%
2016	+0.62%	-0.66%
2015	+3.65%	-4.80%
2014	+15.05%	-7.21%
2013	-6.96%	+26.80%
2012	+9.84%	+31.10%
2011	+13.58%	-27.56%
2010	-0.41%	-3.91%
2009	+17.92%	N/A
2008	-12.12%	N/A
2007	+0.75%	N/A

PZA vs EUFN Drawdown Comparison

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

The maximum drawdown for EUFN was -53.26%, occurring on Mar 18, 2020. Recovery took 1472 trading sessions.

The current PZA drawdown is -2.95%. The current EUFN drawdown is -0.80%.

Rank	PZA	EUFN
#1	-24.48% Jan 17, 2008 - Sep 11, 2009	-53.26% Jan 26, 2018 - Dec 1, 2023
#2	-21.69% Mar 9, 2020 - Dec 7, 2020	-43.38% Apr 29, 2011 - Sep 18, 2013
#3	-18.55% Jul 19, 2021 - Oct 25, 2022	-39.47% Jun 6, 2014 - Aug 1, 2017
#4	-12.46% Nov 30, 2012 - Jul 14, 2014	-27.21% Apr 13, 2010 - Nov 4, 2010
#5	-11.77% May 10, 2010 - Aug 3, 2011	-17.18% Nov 4, 2010 - Feb 1, 2011
#6	-7.07% Jul 8, 2016 - Aug 29, 2017	-15.95% Mar 18, 2025 - Apr 24, 2025
#7	-4.07% Oct 1, 2009 - Apr 27, 2010	-14.77% Feb 2, 2026 - Apr 17, 2026
#8	-3.43% Feb 2, 2015 - Nov 19, 2015	-11.87% Feb 17, 2011 - Apr 27, 2011
#9	-2.99% Dec 29, 2017 - Jan 2, 2019	-9.82% Jan 15, 2014 - Jun 5, 2014
#10	-2.99% Oct 24, 2007 - Jan 2, 2008	-9.16% Feb 3, 2010 - Mar 19, 2010
#11	-2.80% Feb 10, 2021 - May 28, 2021	-8.12% Jun 3, 2024 - Aug 19, 2024
#12	-2.29% Sep 22, 2011 - Dec 14, 2011	-6.88% Sep 26, 2024 - Jan 21, 2025
#13	-1.72% Sep 3, 2019 - Jan 6, 2020	-6.81% Nov 12, 2025 - Dec 10, 2025
#14	-1.72% Oct 15, 2014 - Dec 12, 2014	-6.20% Oct 22, 2013 - Dec 26, 2013
#15	-1.58% Feb 2, 2012 - Apr 13, 2012	-5.94% Aug 7, 2017 - Jan 2, 2018

Correlation

Correlation between PZA and EUFN is 0.52 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.52

-101

Dividend Comparison (2007 - 2026)

PZA vs EUFN dividend yield comparison.

Year	PZA	EUFN
2026	2.21%	2.69%
2025	3.55%	3.57%
2024	3.22%	5.36%
2023	2.91%	5.00%
2022	2.68%	4.24%
2021	2.34%	4.15%
2020	2.44%	1.38%
2019	2.81%	4.55%
2018	3.19%	6.48%
2017	3.04%	3.04%
2016	3.23%	4.03%
2015	3.59%	3.65%
2014	3.96%	3.35%
2013	4.27%	1.59%
2012	4.11%	2.91%
2011	4.48%	3.88%
2010	4.90%	1.80%
2009	4.68%	0.00%
2008	5.07%	0.00%
2007	0.93%	0.00%