PZA vs IFRA
Comparison between INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF) and ISHARES U.S. INFRASTRUCTURE ETF (IFRA, ETF).
5-Year PerformanceIFRA has outperformed PZA, delivering a return of +13.2% compared to -0.1%
PZA vs IFRA - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
PZA vs IFRA - Historical Returns
Returns include dividend reinvestment.
PZA vs IFRA - Annual Returns (2007 - 2026)
Returns include dividend reinvestment.
| Year | PZA | IFRA |
|---|---|---|
| 2026 | +2.03% | +16.71% |
| 2025 | +1.38% | +16.09% |
| 2024 | +0.81% | +17.17% |
| 2023 | +7.75% | +13.50% |
| 2022 | -13.00% | -3.13% |
| 2021 | +2.26% | +32.19% |
| 2020 | +4.91% | +8.22% |
| 2019 | +8.48% | +26.84% |
| 2018 | +0.07% | -8.54% |
| 2017 | +6.78% | N/A |
| 2016 | +0.62% | N/A |
| 2015 | +3.65% | N/A |
| 2014 | +15.05% | N/A |
| 2013 | -6.96% | N/A |
| 2012 | +9.84% | N/A |
| 2011 | +13.58% | N/A |
| 2010 | -0.41% | N/A |
| 2009 | +17.92% | N/A |
| 2008 | -12.12% | N/A |
| 2007 | +0.75% | N/A |
PZA vs IFRA Drawdown Comparison
The maximum drawdown for PZA was -24.48%, occurring on Oct 15, 2008. Recovery took 416 trading sessions.
The maximum drawdown for IFRA was -41.06%, occurring on Mar 23, 2020. Recovery took 188 trading sessions.
The current PZA drawdown is -1.26%. The current IFRA drawdown is -1.30%.
| Rank | PZA | IFRA |
|---|---|---|
| #1 | -24.48% Jan 17, 2008 - Sep 11, 2009 | -41.06% Feb 20, 2020 - Nov 16, 2020 |
| #2 | -21.69% Mar 9, 2020 - Dec 7, 2020 | -19.93% Nov 25, 2024 - Jul 22, 2025 |
| #3 | -18.55% Jul 19, 2021 - Oct 25, 2022 | -19.50% Sep 18, 2018 - Jun 28, 2019 |
| #4 | -12.46% Nov 30, 2012 - Jul 14, 2014 | -18.48% Apr 20, 2022 - Feb 1, 2023 |
| #5 | -11.77% May 10, 2010 - Aug 3, 2011 | -13.99% Jul 26, 2023 - Dec 19, 2023 |
| #6 | -7.07% Jul 8, 2016 - Aug 29, 2017 | -11.09% Feb 2, 2023 - Jul 12, 2023 |
| #7 | -4.07% Oct 1, 2009 - Apr 27, 2010 | -8.40% Mar 2, 2026 - Apr 23, 2026 |
| #8 | -3.43% Feb 2, 2015 - Nov 19, 2015 | -8.22% Jan 4, 2022 - Mar 17, 2022 |
| #9 | -2.99% Dec 29, 2017 - Jan 2, 2019 | -7.85% Sep 2, 2021 - Nov 3, 2021 |
| #10 | -2.99% Oct 24, 2007 - Jan 2, 2008 | -7.60% May 7, 2021 - Aug 11, 2021 |
| #11 | -2.80% Feb 10, 2021 - May 28, 2021 | -7.12% Jul 5, 2019 - Sep 11, 2019 |
| #12 | -2.29% Sep 22, 2011 - Dec 14, 2011 | -7.03% May 21, 2024 - Jul 16, 2024 |
| #13 | -1.72% Sep 3, 2019 - Jan 6, 2020 | -6.62% Nov 23, 2021 - Dec 27, 2021 |
| #14 | -1.72% Oct 15, 2014 - Dec 12, 2014 | -6.34% Jul 31, 2024 - Sep 17, 2024 |
| #15 | -1.58% Feb 2, 2012 - Apr 13, 2012 | -6.13% Dec 26, 2023 - Feb 29, 2024 |
Correlation
Correlation between PZA and IFRA is 0.42 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
Dividend Comparison (2007 - 2026)
PZA vs IFRA dividend yield comparison.
| Year | PZA | IFRA |
|---|---|---|
| 2026 | 1.53% | 0.44% |
| 2025 | 3.55% | 1.84% |
| 2024 | 3.22% | 1.75% |
| 2023 | 2.91% | 1.98% |
| 2022 | 2.68% | 1.98% |
| 2021 | 2.34% | 1.63% |
| 2020 | 2.44% | 2.08% |
| 2019 | 2.81% | 1.68% |
| 2018 | 3.19% | 2.50% |
| 2017 | 3.04% | 0.00% |
| 2016 | 3.23% | 0.00% |
| 2015 | 3.59% | 0.00% |
| 2014 | 3.96% | 0.00% |
| 2013 | 4.27% | 0.00% |
| 2012 | 4.11% | 0.00% |
| 2011 | 4.48% | 0.00% |
| 2010 | 4.90% | 0.00% |
| 2009 | 4.68% | 0.00% |
| 2008 | 5.07% | 0.00% |
| 2007 | 0.93% | 0.00% |
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