FLMB vs PZA
Franklin Municipal Green Bond ETF compared with Invesco National AMT-Free Municipal Bond ETF on yield, payout growth, payment schedule, cost and risk.
FLMB
Franklin Municipal Green Bond ETF
TTM yield · Monthly
PZA
Invesco National AMT-Free Municipal Bond ETF
TTM yield · Monthly
Quick take
- FLMB yields more today: 4.19% vs 3.88% (forward).
- Both pay every month.
- Over the last year PZA delivered the higher total return: +5.0% vs +4.7% (price change plus payouts).
- PZA is cheaper to own: 0.28% vs 0.30% expense ratio.
- PZA has the steadier distribution: consistency 96/100 vs 73/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | FLMB | PZA |
|---|---|---|
| Share price | $23.03 | $22.43 |
| TTM yield | 4.19% | 3.88% |
| Forward yield | 4.19% | 3.88% |
| Annual payout per share | $0.965 | $0.87 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 1, 2026 (est.) | Sep 21, 2026 (est.) |
| Expense ratio | 0.30% | 0.28% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 73/100 | 96/100 |
| 1-year total return | +4.7% | +5.0% |
| 1-year price return | +0.5% | +1.1% |
| Size (market cap / AUM) | 71.0M | 4.2B |
| Years paying | 8.8 | 18.8 |
| Sector / category | Muni National Long | Muni National Long |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| FLMB | PZA | |
|---|---|---|
| Shares | 434.2 | 445.8 |
| Income per year | $419 | $388 |
| Income per month (avg) | $35 | $32 |
At forward yields, before taxes. Model FLMB · Model PZA
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| FLMB Oct 1, 2026 | Oct 15, 2026 | $0.0804 | Est. |
| FLMB Oct 31, 2026 | Nov 14, 2026 | $0.0804 | Est. |
| FLMB Nov 30, 2026 | Dec 14, 2026 | $0.0804 | Est. |
| PZA Sep 21, 2026 | Oct 5, 2026 | $0.0725 | Est. |
| PZA Oct 19, 2026 | Nov 2, 2026 | $0.0725 | Est. |
| PZA Nov 16, 2026 | Nov 30, 2026 | $0.0725 | Est. |
Annual payouts per share
FLMBPZA
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, FLMB or PZA?
FLMB currently has the higher trailing yield: FLMB yields 4.19% and PZA yields 3.88%. Yield changes daily with price, so check the live figures above.
How often do FLMB and PZA pay?
FLMB pays every month and PZA pays every month. FLMB's next ex-date is Oct 1, 2026 and PZA's is Sep 21, 2026.
Is FLMB or PZA better for income?
It depends on what you are optimising for. FLMB and PZA differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.