Invesco California AMT-Free Municipal Bond ETF (PWZ) Research

The Invesco California AMT-Free Municipal Bond ETF seeks to track the performance of the ICE BofAML California Long-Term Core Plus Municipal Securities Index. This fund generally dedicates over 80% of its assets to municipal debt securities that are both part of this underlying Index and qualify for exemption from the federal alternative minimum tax. The Index itself consists of investment-grade, U.S. dollar-denominated, tax-exempt bonds publicly issued by the State of California, U.S. territories, or their political subdivisions, traded in the U.S. domestic market, and possessing a remaining maturity of at least 15 years. The Index is adjusted monthly, with its constituents weighted by their current outstanding value, and both the Fund and the Index are rebalanced and reconstituted on a monthly basis.

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