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Upturn AI SWOT - About
Invesco New York AMT-Free Municipal Bond ETF (PZT)
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Upturn Advisory Summary
03/27/2025: PZT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type ETF | Historic Profit -6.67% | Avg. Invested days 37 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/27/2025 |
Key Highlights
Volume (30-day avg) 18046 | Beta 1.37 | 52 Weeks Range 21.84 - 23.61 | Updated Date 04/2/2025 |
52 Weeks Range 21.84 - 23.61 | Updated Date 04/2/2025 |
Upturn AI SWOT
Invesco New York AMT-Free Municipal Bond ETF
ETF Overview
Overview
The Invesco New York AMT-Free Municipal Bond ETF (PNY) seeks to provide investment results corresponding to the price and yield of the ICE BofA Merrill Lynch New York Long-Term Core Municipal Securities Index, investing primarily in investment-grade New York municipal bonds exempt from federal and New York state and city income taxes and federal alternative minimum tax (AMT).
Reputation and Reliability
Invesco is a well-established global investment management firm with a strong reputation and extensive experience managing a wide range of ETFs.
Management Expertise
Invesco's management team has considerable expertise in fixed income investing, particularly in the municipal bond market.
Investment Objective
Goal
The fund seeks to track the investment results, before fees and expenses, of the ICE BofA Merrill Lynch New York Long-Term Core Municipal Securities Index.
Investment Approach and Strategy
Strategy: PNY aims to track the ICE BofA Merrill Lynch New York Long-Term Core Municipal Securities Index.
Composition The ETF primarily holds investment-grade New York municipal bonds.
Market Position
Market Share: PNY holds a portion of the market share within the New York municipal bond ETF sector.
Total Net Assets (AUM): 108500000
Competitors
Key Competitors
- VNY
- HYNY
- INY
- MBF
Competitive Landscape
The competitive landscape consists of ETFs offering exposure to New York municipal bonds. PNY offers a pure play on New York AMT-free municipal bonds, which may be an advantage for investors specifically seeking that exposure. However, competitors may have lower expense ratios or broader market coverage, which may attract other investors.
Financial Performance
Historical Performance: Historical performance data is needed for accurate presentation. One year total return: 2.31, 3 year total return 1.41, 5 year total return 2.13, 10 year total return 2.76
Benchmark Comparison: The ETF's performance should be compared against the ICE BofA Merrill Lynch New York Long-Term Core Municipal Securities Index to assess tracking effectiveness.
Expense Ratio: 0.28
Liquidity
Average Trading Volume
PNY's liquidity is reflected in its average daily trading volume, which indicates the ease of buying or selling shares.
Bid-Ask Spread
The bid-ask spread represents the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept, affecting trading costs.
Market Dynamics
Market Environment Factors
Economic indicators such as interest rates, inflation, and economic growth in New York, as well as the overall municipal bond market sentiment, influence PNY.
Growth Trajectory
Growth trends depend on interest rate movements, creditworthiness of New York municipal issuers, and investor demand for tax-exempt income.
Moat and Competitive Advantages
Competitive Edge
PNY's competitive edge lies in its focus on New York AMT-free municipal bonds, providing targeted tax benefits to investors residing in New York. It is a passively managed fund that aims to closely replicate the performance of its benchmark index. This offers investors transparent access to the New York municipal bond market. However, other funds may have larger AUM and greater liquidity.
Risk Analysis
Volatility
PNY's historical volatility can be assessed by examining its standard deviation and beta relative to its benchmark.
Market Risk
Market risk includes interest rate risk, credit risk of municipal bond issuers, and the risk of changes in tax laws.
Investor Profile
Ideal Investor Profile
The ideal investor is a New York resident seeking tax-exempt income and diversification within their fixed income portfolio.
Market Risk
PNY is suitable for long-term investors seeking a steady stream of tax-advantaged income.
Summary
The Invesco New York AMT-Free Municipal Bond ETF (PNY) provides targeted exposure to investment-grade New York municipal bonds, offering tax-exempt income to New York residents. It tracks the ICE BofA Merrill Lynch New York Long-Term Core Municipal Securities Index and is suitable for long-term investors seeking a steady income stream. However, investors should be aware of interest rate risk and credit risk. PNY faces competition from other municipal bond ETFs and its performance is influenced by the economic conditions of New York state.
Similar Companies
Sources and Disclaimers
Data Sources:
- Invesco
- ICE Data Indices, LLC
- Various Financial News Outlets
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered investment advice. Past performance is not indicative of future results. Consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Invesco New York AMT-Free Municipal Bond ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund generally will invest at least 80% of its total assets in the components of the underlying index. The index is composed of U.S. dollar-denominated, investment grade, tax-exempt debt publicly issued by New York or any U.S. territory and their political subdivisions, in the U.S. domestic market. It is non-diversified.
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