{
  "page": "compare",
  "query": {
    "a": "PWZ",
    "b": "TACAX"
  },
  "retrieved_at": "2026-07-07T18:28:03+00:00",
  "disclaimer": "Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them.",
  "attribution": "Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC.",
  "terms": {
    "notice": "Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed.",
    "url": "https://fundwatcher.app/terms/"
  },
  "fund_a": {
    "name": "Invesco California AMT-Free Municipal Bond ETF",
    "ticker": "PWZ",
    "slug": "PWZ",
    "series_id": "S000019411",
    "html_url": "https://fundwatcher.app/funds/PWZ/"
  },
  "fund_b": {
    "name": "California Municipal Bond Fund",
    "ticker": "TACAX",
    "slug": "TACAX",
    "series_id": "S000000616",
    "html_url": "https://fundwatcher.app/funds/TACAX/"
  },
  "overlap": {
    "coverage_a_by_b": "0.07321168314636380694906283897",
    "coverage_b_by_a": "0.07321168314636380694906283896",
    "shared_count": 67,
    "as_of": {
      "a": "2026-02-28",
      "b": "2026-02-28"
    },
    "a_top": [
      {
        "name": "CALIFORNIA ST HLTH FACS FING AUTH REVENUE",
        "value": "8557979.46",
        "weight": "0.00796465",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST HLTH FACS FING A CASMED 08/48 FIXED 4",
        "value": "7583381.78",
        "weight": "0.00705763",
        "shared": true
      },
      {
        "name": "UNIV OF CA REGENTS -P",
        "value": "7170052.44",
        "weight": "0.00667295",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST EDUCTNL FACS AUTH REVENUE",
        "value": "6721440.25",
        "weight": "0.00625544",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST EDUCTNL",
        "value": "6239279.49",
        "weight": "0.00580671",
        "shared": true
      },
      {
        "name": "UNIV OF CA REGENTS -P",
        "value": "5884337.37",
        "weight": "0.00547638",
        "shared": false
      },
      {
        "name": "Los Angeles Unified School District, Series 2020 RYQ, GO Bonds",
        "value": "5630129.50",
        "weight": "0.00523979",
        "shared": false
      },
      {
        "name": "STATE OF CALIFORNIA 5.0% 04-01-49",
        "value": "5158649.92",
        "weight": "0.00480100",
        "shared": false
      },
      {
        "name": "San Diego Community College District, Series A-1",
        "value": "4933473.30",
        "weight": "0.00459144",
        "shared": false
      },
      {
        "name": "California (State of) Educational Facilities Authority (Stanford University), Series 2014 U-6, RB",
        "value": "4893099.45",
        "weight": "0.00455386",
        "shared": false
      },
      {
        "name": "Toll Road Sr Lien Refunding RB Series 2021A",
        "value": "4753978.20",
        "weight": "0.00442438",
        "shared": false
      },
      {
        "name": "State of California 5.00% 03/01/2055",
        "value": "4604047.15",
        "weight": "0.00428485",
        "shared": false
      },
      {
        "name": "SAN FRANCISCO-REV-C",
        "value": "4568430.87",
        "weight": "0.00425170",
        "shared": false
      },
      {
        "name": "SAN FRANCISCO PUB-D",
        "value": "4542565.75",
        "weight": "0.00422763",
        "shared": true
      },
      {
        "name": "UNIV OF CALIFORNIA CA REVENUES UNVHGR 05/52 FIXED 5",
        "value": "4444656.32",
        "weight": "0.00413651",
        "shared": false
      },
      {
        "name": "UNIV OF CALIFORNIA CA REVENUES",
        "value": "4117262.05",
        "weight": "0.00383181",
        "shared": false
      },
      {
        "name": "SAN DIEGO USD-I",
        "value": "3978758.44",
        "weight": "0.00370291",
        "shared": false
      },
      {
        "name": "KAISER FOUNDATION HOSPITALS 5.0% 11-01-47",
        "value": "3867104.45",
        "weight": "0.00359900",
        "shared": false
      },
      {
        "name": "California (State of) Educational Facilities Authority (Stanford University), Series 2013 U-3, RB",
        "value": "3734932.53",
        "weight": "0.00347599",
        "shared": false
      },
      {
        "name": "Bay Area Toll Authority, Series 2017S-7",
        "value": "3632888.73",
        "weight": "0.00338102",
        "shared": false
      },
      {
        "name": "STATE OF CALIFORNIA 4.0% 09-01-43",
        "value": "3605761.74",
        "weight": "0.00335577",
        "shared": false
      },
      {
        "name": "San Diego Unified School District, Series 2023G-3",
        "value": "3535738.45",
        "weight": "0.00329061",
        "shared": false
      },
      {
        "name": "State of California 5.25% 09/01/2053",
        "value": "3528958.93",
        "weight": "0.00328430",
        "shared": false
      },
      {
        "name": "STATE OF CALIFORNIA 5.0% 03-01-49",
        "value": "3524521.65",
        "weight": "0.00328017",
        "shared": false
      },
      {
        "name": "LELAND STANFORD JUNIOR UNIVERSITY 5.0% 06-01-46",
        "value": "3369254.33",
        "weight": "0.00313566",
        "shared": false
      },
      {
        "name": "Los Angeles Unified School District, Series 2023QRR",
        "value": "3341409.23",
        "weight": "0.00310975",
        "shared": false
      },
      {
        "name": "CA ST HLTH FACS-A-REF",
        "value": "3319592.60",
        "weight": "0.00308944",
        "shared": false
      },
      {
        "name": "CA ST UNIV-A-REF",
        "value": "3278104.59",
        "weight": "0.00305083",
        "shared": true
      },
      {
        "name": "SAN FRANCISCO BAY-D1",
        "value": "3269999.02",
        "weight": "0.00304329",
        "shared": false
      },
      {
        "name": "CA ST UNIV TRUSTEES-A",
        "value": "3230297.75",
        "weight": "0.00300634",
        "shared": false
      },
      {
        "name": "LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE",
        "value": "3157128.06",
        "weight": "0.00293824",
        "shared": true
      },
      {
        "name": "SAN DIEGO UNIF SD-C-3",
        "value": "3074820.89",
        "weight": "0.00286164",
        "shared": false
      },
      {
        "name": "San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2017 B, RB",
        "value": "3023047.89",
        "weight": "0.00281346",
        "shared": false
      },
      {
        "name": "Fremont Union High School District, Series 2019 A, GO Bonds",
        "value": "3002872.20",
        "weight": "0.00279468",
        "shared": false
      },
      {
        "name": "SAN JOAQUIN TRANS-A",
        "value": "2868284.05",
        "weight": "0.00266943",
        "shared": false
      },
      {
        "name": "San Diego Community College District, Series A-1",
        "value": "2864555.23",
        "weight": "0.00266596",
        "shared": true
      },
      {
        "name": "Mt. San Antonio Community College District (Election of 2008), Series 2019 A, GO Bonds",
        "value": "2855757.55",
        "weight": "0.00265777",
        "shared": false
      },
      {
        "name": "FOLSOM CORDOVA USD-D",
        "value": "2848173.60",
        "weight": "0.00265071",
        "shared": false
      },
      {
        "name": "San Francisco Community College District (Election of 2020), Series 2020 A, GO Bonds",
        "value": "2830438.08",
        "weight": "0.00263420",
        "shared": false
      },
      {
        "name": "CA ST PUB WKS BRD-A",
        "value": "2802994.18",
        "weight": "0.00260866",
        "shared": false
      },
      {
        "name": "Municipal Improvement Corp. of Los Angeles, Series A",
        "value": "2775429.00",
        "weight": "0.00258301",
        "shared": false
      },
      {
        "name": "Oxnard Union High School District, Ventura County, California, General Obligation Bonds, Election 2018 Series 2022C",
        "value": "2760899.32",
        "weight": "0.00256949",
        "shared": false
      },
      {
        "name": "SAN FRANCISCO W 5.25% 11/1/2055",
        "value": "2731096.79",
        "weight": "0.00254175",
        "shared": false
      },
      {
        "name": "State of California, Series 2024",
        "value": "2709535.21",
        "weight": "0.00252168",
        "shared": false
      },
      {
        "name": "SAN DIEGO USD A-3",
        "value": "2708636.84",
        "weight": "0.00252085",
        "shared": false
      },
      {
        "name": "SAN MARCOS USD-A",
        "value": "2694480.28",
        "weight": "0.00250767",
        "shared": false
      },
      {
        "name": "California (State of) Health Facilities Financing Authority (Stanford Health Care), Series 2020 A, Ref. RB",
        "value": "2693810.08",
        "weight": "0.00250705",
        "shared": true
      },
      {
        "name": "STHRN CA PUB PWR AUTH",
        "value": "2688668.30",
        "weight": "0.00250226",
        "shared": false
      },
      {
        "name": "STATE OF CALIFORNIA",
        "value": "2679047.48",
        "weight": "0.00249331",
        "shared": false
      },
      {
        "name": "UNIV OF CA -REF-O",
        "value": "2616221.00",
        "weight": "0.00243484",
        "shared": false
      }
    ],
    "b_top": [
      {
        "name": "BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE",
        "value": "14043079.23",
        "weight": "0.02510978",
        "shared": false
      },
      {
        "name": "San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2025 A, RB",
        "value": "12339071.56",
        "weight": "0.02206292",
        "shared": false
      },
      {
        "name": "Sacramento (County of), CA, Series 2024, RB",
        "value": "8307894.29",
        "weight": "0.01485496",
        "shared": true
      },
      {
        "name": "California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB",
        "value": "7502653.78",
        "weight": "0.01341515",
        "shared": false
      },
      {
        "name": "UNIV OF CALIFORNIA-BV",
        "value": "7397938.86",
        "weight": "0.01322791",
        "shared": true
      },
      {
        "name": "California Community Choice Financing Authority, Series F",
        "value": "7354811.10",
        "weight": "0.01315080",
        "shared": false
      },
      {
        "name": "CA ST UNIV-A-REF",
        "value": "6625471.20",
        "weight": "0.01184670",
        "shared": true
      },
      {
        "name": "JH COLLATERAL",
        "value": "6047084.38",
        "weight": "0.01081251",
        "shared": false
      },
      {
        "name": "SAN FRANCISCO CITY & COUNTY PUBLIC UTILITIES COMMISSION 4.0% 11-01-50",
        "value": "5478161.61",
        "weight": "0.00979525",
        "shared": true
      },
      {
        "name": "LOS ANGELES DEPT-D",
        "value": "5443181.50",
        "weight": "0.00973270",
        "shared": true
      },
      {
        "name": "COMMONSPIRIT HEALTH OBLIGATED GROUP 5.25% 12-01-49",
        "value": "5340557.50",
        "weight": "0.00954920",
        "shared": true
      },
      {
        "name": "GARDEN GROVE PUBLIC FINANCING GARGEN 04/49 FIXED 5",
        "value": "5235870.93",
        "weight": "0.00936202",
        "shared": true
      },
      {
        "name": "Los Angeles Department of Water & Power Water System, Series 2020B",
        "value": "5141040.89",
        "weight": "0.00919246",
        "shared": false
      },
      {
        "name": "SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE",
        "value": "4903246.05",
        "weight": "0.00876727",
        "shared": false
      },
      {
        "name": "UNITED AIRLINES INC 4.0% 07-15-29",
        "value": "4689622.72",
        "weight": "0.00838530",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST EDUCTNL",
        "value": "4648412.45",
        "weight": "0.00831161",
        "shared": true
      },
      {
        "name": "Los Angeles (City of), CA, Series 2025, RB",
        "value": "4402021.60",
        "weight": "0.00787105",
        "shared": true
      },
      {
        "name": "CA CCEDEV 5 03/01/2036",
        "value": "4358994.80",
        "weight": "0.00779412",
        "shared": false
      },
      {
        "name": "CALIFORNIA ENTERPRISE DEVELOPM CASDEV 06/40 FIXED OID 4",
        "value": "4206375.94",
        "weight": "0.00752123",
        "shared": false
      },
      {
        "name": "CA ST UNIV-A-REF",
        "value": "3974664.05",
        "weight": "0.00710691",
        "shared": true
      },
      {
        "name": "ALVORD USD-B-CABS",
        "value": "3966982.26",
        "weight": "0.00709318",
        "shared": false
      },
      {
        "name": "UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000",
        "value": "3817111.20",
        "weight": "0.00682520",
        "shared": false
      },
      {
        "name": "California Community Choice Financing Authority, Series F",
        "value": "3319935.60",
        "weight": "0.00593622",
        "shared": false
      },
      {
        "name": "Inland Empire Tobacco Securitization Corp., Series 2007C-1",
        "value": "3171808.08",
        "weight": "0.00567136",
        "shared": false
      },
      {
        "name": "Savanna School District, Series B",
        "value": "3158377.04",
        "weight": "0.00564735",
        "shared": false
      },
      {
        "name": "PRS-CALIFORNIA OBLIGATED GROUP 5.0% 04-01-49",
        "value": "3107823.90",
        "weight": "0.00555696",
        "shared": false
      },
      {
        "name": "CA PCFA WTR FUR 5% 11/21/2045",
        "value": "3061248.60",
        "weight": "0.00547368",
        "shared": true
      },
      {
        "name": "California Educational Facilities Authority, Revenue Bonds, Master's University, Series 2025",
        "value": "2944723.54",
        "weight": "0.00526532",
        "shared": false
      },
      {
        "name": "ANAHEIM UNION HIGH SCHOOL DIST ANASCD 08/38 FIXED 3",
        "value": "2837464.40",
        "weight": "0.00507354",
        "shared": false
      },
      {
        "name": "DESERTXPRESS ENTERPRISES LLC (MPT) 12.0% 01-01-65",
        "value": "2802600.00",
        "weight": "0.00501120",
        "shared": false
      },
      {
        "name": "Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022",
        "value": "2790450.00",
        "weight": "0.00498947",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE",
        "value": "2771302.74",
        "weight": "0.00495524",
        "shared": true
      },
      {
        "name": "LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE",
        "value": "2710943.25",
        "weight": "0.00484731",
        "shared": true
      },
      {
        "name": "CITY OF GLENDALE CA ELECTRIC R GLEPWR 02/45 FIXED 5",
        "value": "2627472.76",
        "weight": "0.00469806",
        "shared": false
      },
      {
        "name": "ROCKLIN ACADEMY OBLIGATED GROUP 5.0% 06-01-64",
        "value": "2588603.39",
        "weight": "0.00462856",
        "shared": false
      },
      {
        "name": "TOBACCO SECURITIZATION AUTH ST TOBGEN 06/48 FIXED 5",
        "value": "2533843.07",
        "weight": "0.00453065",
        "shared": false
      },
      {
        "name": "CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE",
        "value": "2528015.24",
        "weight": "0.00452023",
        "shared": true
      },
      {
        "name": "EISENHOWER MEDICAL CENTER 5.0% 07-01-47",
        "value": "2496822.35",
        "weight": "0.00446445",
        "shared": false
      },
      {
        "name": "GOLDEN ST TOBACCO SECURITIZATI REGD B/E 5.00000000",
        "value": "2485929.25",
        "weight": "0.00444498",
        "shared": false
      },
      {
        "name": "TEJON RANCH PUBLIC FACILITIES TEJFAC 09/54 FIXED 5",
        "value": "2474896.78",
        "weight": "0.00442525",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "2461069.35",
        "weight": "0.00440052",
        "shared": false
      },
      {
        "name": "P3 IRVINE SL HOLDINGS LLC OBLIGATED GROUP 6.5% 06-01-54",
        "value": "2439162.25",
        "weight": "0.00436135",
        "shared": false
      },
      {
        "name": "RESTRUCTURED-SER A1",
        "value": "2423145.75",
        "weight": "0.00433271",
        "shared": false
      },
      {
        "name": "REDONDO BEACH UNIFIED SCHOOL D RDBSCD 08/50 FIXED 5",
        "value": "2420675.49",
        "weight": "0.00432830",
        "shared": false
      },
      {
        "name": "PALMDALE WATER DISTRICT PUBLIC PWDWTR 10/49 FIXED OID 4",
        "value": "2402768.37",
        "weight": "0.00429628",
        "shared": false
      },
      {
        "name": "Chaffey Joint Union High School District (Election of 2012), Series 2023 G, GO Bonds",
        "value": "2333257.92",
        "weight": "0.00417199",
        "shared": true
      },
      {
        "name": "W HOLLYWOOD FING AUTH",
        "value": "2282405.76",
        "weight": "0.00408106",
        "shared": false
      },
      {
        "name": "LONG BEACH UNIF SD",
        "value": "2262767.65",
        "weight": "0.00404595",
        "shared": true
      },
      {
        "name": "LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE",
        "value": "2236057.20",
        "weight": "0.00399819",
        "shared": false
      },
      {
        "name": "CALIFORNIA COMMUNITY VAR",
        "value": "2231091.60",
        "weight": "0.00398931",
        "shared": false
      }
    ]
  },
  "error": null,
  "sources": [
    {
      "label": "N-PORT (fund A)",
      "accession_no": "0001378872-26-000865",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/1378872/000137887226000865/0001378872-26-000865-index.htm"
    },
    {
      "label": "N-PORT (fund B)",
      "accession_no": "0001193125-26-184466",
      "as_of": "2026-02-28",
      "edgar_url": "https://www.sec.gov/Archives/edgar/data/856671/000119312526184466/0001193125-26-184466-index.htm"
    }
  ]
}