PZA vs TAFL
Invesco National AMT-Free Municipal Bond ETF compared with AB Tax-Aware Long Municipal ETF on yield, payout growth, payment schedule, cost and risk.
PZA
Invesco National AMT-Free Municipal Bond ETF
TTM yield · Monthly
TAFL
AB Tax-Aware Long Municipal ETF
TTM yield · Monthly
Quick take
- TAFL yields more today: 4.20% vs 3.88% (forward).
- Both pay every month.
- Over the last year PZA delivered the higher total return: +5.0% vs +4.9% (price change plus payouts).
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | PZA | TAFL |
|---|---|---|
| Share price | $22.43 | $24.34 |
| TTM yield | 3.88% | 4.20% |
| Forward yield | 3.88% | 4.20% |
| Annual payout per share | $0.87 | $1.022 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Sep 21, 2026 (est.) | Oct 1, 2026 (est.) |
| Expense ratio | 0.28% | 0.28% |
| 1-year payout growth | — | -0.3% |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | 2 years |
| Payout consistency (last 12) | 96/100 | 92/100 |
| 1-year total return | +5.0% | +4.9% |
| 1-year price return | +1.1% | +0.6% |
| Size (market cap / AUM) | 4.2B | 67.6M |
| Years paying | 18.8 | 2.7 |
| 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
| PZA | TAFL | |
|---|---|---|
| Shares | 445.8 | 410.8 |
| Income per year | $388 | $420 |
| Income per month (avg) | $32 | $35 |
At forward yields, before taxes. Model PZA · Model TAFL
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| 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. |
| TAFL Oct 1, 2026 | Oct 15, 2026 | $0.0852 | Est. |
| TAFL Oct 31, 2026 | Nov 14, 2026 | $0.0852 | Est. |
| TAFL Nov 30, 2026 | Dec 14, 2026 | $0.0852 | Est. |
Annual payouts per share
PZATAFL
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, PZA or TAFL?
TAFL currently has the higher trailing yield: PZA yields 3.88% and TAFL yields 4.20%. Yield changes daily with price, so check the live figures above.
How often do PZA and TAFL pay?
PZA pays every month and TAFL pays every month. PZA's next ex-date is Sep 21, 2026 and TAFL's is Oct 1, 2026.
Is PZA or TAFL better for income?
It depends on what you are optimising for. PZA and TAFL 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.