Invesco California AMT-Free Municipal Bond ETF

PWZ tracks an index of insured investment-grade, tax-exempt debt issued by California or any US territory with at least 15 years remaining to maturity.

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Investors were net purchasers of fund assets (including those of conventional funds and ETFs) for the third week in a row, injecting a net $14.2 billion for the LSEG Lipper fund-flows week ended Wednesday, November 8. A weaker-than-expected October jobs report, a drop in oil prices and inflation expectations, and rising hopes that the Fed is done hiking interest rates pushed equities to their longest daily winning streak in two years and the 10-year Treasury yield dropped to its lowest level since September. The Dow locked in its longest winning streak since late July, rising for the sixth consecutive trading session, on Monday, November 6.

U.S. Weekly Fund Flows Insight Report: Investors Give A Cold Shoulder To Conventional Funds During The Fund-Flows Week But Embrace Equity And Bond ETFs

iShares California Muni Bond ETF

First Trust California Municipal High Income ETF

Demand outpaced supply and prompted strong absolute and relative performance. Rich valuations and waning seasonal trends warrant some near-term caution going forward.

Munis Maintain Summer Heat In July

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At the beginning of the fund-flows week, the U.S. Bureau of Labor Statistics reported that October headline inflation came in at a better-than-expected 0.4%. While yields at the shortest end of the curve continued to rise, the belly and long end of the curve witnessed significant declines.

Bond Fund Investors Benefit From Large Declines In Yields During The Fund-Flows Week

Invesco BulletShares 2029 Municipal Bond ETF

Invesco National AMT-Free Municipal Bond ETF

Municipal bonds have been a steady bet in 2021 despite all the volatility, with certain exchange traded funds (ETFs) high on momentum according to their relative strength index (RSI). The RSI can be a helpful indicator to know if momentum is behind a certain ETF — the closer to a reading of 70, the higher [.

Momentum Is on the Side of These Municipal Bond ETFs

Avantis Core Municipal Fixed Income ETF

Invesco BulletShares 2021 Municipal Bond ETF

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Hartford Municipal Opportunities ETF

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VanEck Vectors Intermediate Muni ETF

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JPMorgan Municipal ETF

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IQ MacKay Municipal Insured ETF

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American Century Diversified Municipal Bond

SPDR Nuveen Bloomberg Municipal Bond ETF

Vanguard Tax-Exempt Bond Index ETF

VanEck CEF Municipal Income ETF 

Truly active managers shine in challenging investment environments, especially when they are given a flexible mandate. With tax-loss harvesting, active investors can deliberately sell at a loss to offset taxes on gains elsewhere in a portfolio.

Muni Investors Stay Flexible As Rates Rise

The municipal bond space continues to be a hot subsector in the debt markets, fueled by an incoming Biden administration that is expected to hike taxes. ETF investors can now get state-specific exposure to the municipal bond market in California via the Invesco California AMT-Free Municipal Bond ETF (PWZ).

A Municipal Bond ETF for the Biggest State Economy

News for Invesco California AMT-Free Municipal Bond ETF ETF (PWZ)