PWZ vs VOO
Invesco California AMT-Free Municipal Bond ETF compared with Vanguard S&P 500 ETF on yield, payout growth, payment schedule, cost and risk.
PWZ
Invesco California AMT-Free Municipal Bond ETF
TTM yield · Monthly
VOO
Vanguard S&P 500 ETF
TTM yield · Quarterly
Quick take
- PWZ yields more today: 3.85% vs 1.11% (forward).
- PWZ pays every month; VOO pays every quarter.
- Over the last year VOO delivered the higher total return: +20.0% vs +5.4% (price change plus payouts).
- VOO is cheaper to own: 0.03% vs 0.28% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | PWZ | VOO |
|---|---|---|
| Share price | $23.47 | $704.07 |
| TTM yield | 3.85% | 1.04% |
| Forward yield | 3.85% | 1.11% |
| Annual payout per share | $0.903 | $7.848 |
| Payment frequency | Monthly | Quarterly |
| Next ex-date | Sep 21, 2026 (est.) | Sep 25, 2026 (est.) |
| Expense ratio | 0.28% | 0.03% |
| 1-year payout growth | — | +5.9% |
| 5-year payout CAGR | — | +6.8% |
| Consecutive years of increases | — | 1 year |
| Payout consistency (last 12) | 95/100 | 93/100 |
| 1-year total return | +5.4% | +20.0% |
| 1-year price return | +1.5% | +18.7% |
| Size (market cap / AUM) | 1.2B | 1.7T |
| Years paying | 18.8 | 16.0 |
| Sector / category | Muni California Long | Large Blend |
✓ 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 | VOO | |
|---|---|---|
| Shares | 426.1 | 14.2 |
| Income per year | $385 | $111 |
| Income per month (avg) | $32 | $9 |
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| PWZ Sep 21, 2026 | Oct 5, 2026 | $0.0752 | Est. |
| PWZ Oct 19, 2026 | Nov 2, 2026 | $0.0752 | Est. |
| PWZ Nov 16, 2026 | Nov 30, 2026 | $0.0752 | Est. |
| VOO Sep 25, 2026 | Oct 9, 2026 | $1.962 | Est. |
| VOO Dec 25, 2026 | Jan 8, 2027 | $1.962 | Est. |
| VOO Mar 26, 2027 | Apr 9, 2027 | $1.962 | Est. |
Annual payouts per share
PWZVOO
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 VOO?
PWZ currently has the higher trailing yield: PWZ yields 3.85% and VOO yields 1.04%. Yield changes daily with price, so check the live figures above.
How often do PWZ and VOO pay?
PWZ pays every month and VOO pays every quarter. PWZ's next ex-date is Sep 21, 2026 and VOO's is Sep 25, 2026.
Is PWZ or VOO better for income?
It depends on what you are optimising for. PWZ and VOO 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.