PWZ vs RMCA
Invesco California AMT-Free Municipal Bond ETF compared with Rockefeller California Municipal Bond ETF on yield, payout growth, payment schedule, cost and risk.
PWZ
Invesco California AMT-Free Municipal Bond ETF
TTM yield · Monthly
RMCA
Rockefeller California Municipal Bond ETF
TTM yield · Monthly
Quick take
- RMCA yields more today: 4.57% vs 4.02% (forward).
- Both pay every month.
- Over the last year RMCA delivered the higher total return: +0.3% vs -0.5% (price change plus payouts).
- PWZ is cheaper to own: 0.28% vs 0.55% expense ratio.
- PWZ has the steadier distribution: consistency 98/100 vs 85/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | PWZ | RMCA |
|---|---|---|
| Share price | $22.87 | $23.22 |
| TTM yield | 4.02% | 4.57% |
| Forward yield | 4.02% | 4.57% |
| Annual payout per share | $0.919 | $1.06 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Nov 16, 2026 (est.) | Oct 29, 2026 (est.) |
| Expense ratio | 0.28% | 0.55% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 98/100 | 85/100 |
| 1-year total return | -0.5% | +0.3% |
| 1-year price return | -4.4% | -4.1% |
| Size (market cap / AUM) | 1.1B | 19.2M |
| Years paying | 18.9 | 2.1 |
| Sector / category | Muni California Long | Muni California 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
| PWZ | RMCA | |
|---|---|---|
| Shares | 437.3 | 430.7 |
| Income per year | $402 | $457 |
| Income per month (avg) | $33 | $38 |
At forward yields, before taxes. Model PWZ · Model RMCA
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| PWZ Nov 16, 2026 | Nov 30, 2026 | $0.0766 | Est. |
| PWZ Dec 14, 2026 | Dec 28, 2026 | $0.0766 | Est. |
| PWZ Jan 11, 2027 | Jan 25, 2027 | $0.0766 | Est. |
| RMCA Oct 29, 2026 | Nov 12, 2026 | $0.0883 | Est. |
| RMCA Nov 28, 2026 | Dec 12, 2026 | $0.0883 | Est. |
| RMCA Dec 28, 2026 | Jan 11, 2027 | $0.0883 | Est. |
Annual payouts per share
PWZRMCA
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, PWZ or RMCA?
RMCA currently has the higher trailing yield: PWZ yields 4.02% and RMCA yields 4.57%. Yield changes daily with price, so check the live figures above.
How often do PWZ and RMCA pay?
PWZ pays every month and RMCA pays every month. PWZ's next ex-date is Nov 16, 2026 and RMCA's is Oct 29, 2026.
Is PWZ or RMCA better for income?
It depends on what you are optimising for. PWZ and RMCA 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.