Invesco New York AMT-Free Municipal Bond ETF (PZT) Research

The Invesco New York AMT-Free Municipal Bond ETF (PZT) seeks to mirror the investment outcomes of the ICE BofAML New York Long-Term Core Plus Municipal Securities Index. This fund commits at least 80% of its total assets to municipal debt obligations that are part of this Index and are also excluded from federal alternative minimum tax calculations. The underlying Index is constructed from U.S. dollar-denominated, investment-grade, tax-exempt bonds publicly offered in the domestic U.S. market by New York, any U.S. territory, or their associated political entities. A key criterion for inclusion is a minimum of 15 years remaining until final maturity. The Index constituents are weighted based on their current outstanding principal amount and are updated monthly. Rather than acquiring every security in the Index, the Fund utilizes a "sampling" approach to achieve its investment objectives. Both the Fund and its benchmark Index undergo monthly rebalancing and reconstitution processes.

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