FTMU vs PZA
Franklin Municipal Income ETF compared with Invesco National AMT-Free Municipal Bond ETF on yield, payout growth, payment schedule, cost and risk.
FTMU
Franklin Municipal Income ETF
TTM yield · Monthly
PZA
Invesco National AMT-Free Municipal Bond ETF
TTM yield · Monthly
Quick take
- FTMU yields more today: 4.45% vs 4.06% (forward).
- Both pay every month.
- PZA is cheaper to own: 0.28% vs 0.30% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | FTMU | PZA |
|---|---|---|
| Share price | $7.43 | $21.80 |
| TTM yield | 4.08% | 4.06% |
| Forward yield | 4.45% | 4.06% |
| Annual payout per share | $0.3305 | $0.885 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 31, 2026 (est.) | Nov 16, 2026 (est.) |
| Expense ratio | 0.30% | 0.28% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | 0 years | — |
| Payout consistency (last 12) | 88/100 | 96/100 |
| 1-year total return | — | -1.8% |
| 1-year price return | — | -5.6% |
| Size (market cap / AUM) | 442.4M | 4.0B |
| Years paying | 0.9 | 18.9 |
| 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
| FTMU | PZA | |
|---|---|---|
| Shares | 1,345.9 | 458.7 |
| Income per year | $445 | $406 |
| Income per month (avg) | $37 | $34 |
At forward yields, before taxes. Model FTMU · Model PZA
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| FTMU Oct 31, 2026 | Nov 14, 2026 | $0.0275 | Est. |
| FTMU Nov 30, 2026 | Dec 14, 2026 | $0.0275 | Est. |
| FTMU Dec 30, 2026 | Jan 13, 2027 | $0.0275 | Est. |
| PZA Nov 16, 2026 | Nov 30, 2026 | $0.0737 | Est. |
| PZA Dec 14, 2026 | Dec 28, 2026 | $0.0737 | Est. |
| PZA Jan 11, 2027 | Jan 25, 2027 | $0.0737 | Est. |
Annual payouts per share
FTMUPZA
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, FTMU or PZA?
FTMU currently has the higher trailing yield: FTMU yields 4.08% and PZA yields 4.06%. Yield changes daily with price, so check the live figures above.
How often do FTMU and PZA pay?
FTMU pays every month and PZA pays every month. FTMU's next ex-date is Oct 31, 2026 and PZA's is Nov 16, 2026.
Is FTMU or PZA better for income?
It depends on what you are optimising for. FTMU 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.