What if you'd held PZA?
A $1,000 investment in Invesco National AMT-Free Municipal Bond ETFo (PZA) at the month-end close of 2007-10 would be worth $1,797 at the close of 2026-08 — +79.7% total return, dividends reinvested. The same $1,000 in the S&P 500 would be worth $4,975.
Your scenario
Result
If you'd bought $1,000 at the start of each year
Value of $1,000 invested on January 1 of each year, held to 2026-08, dividends included.
Every year, $1,000 from 2007
| Year | Value of $1,000 | Year return |
|---|---|---|
| 2007 | $1,000 | — |
| 2008 | $882 | -11.8% |
| 2009 | $1,037 | +17.6% |
| 2010 | $1,032 | -0.4% |
| 2011 | $1,175 | +13.8% |
| 2012 | $1,290 | +9.8% |
| 2013 | $1,198 | -7.1% |
| 2014 | $1,381 | +15.3% |
| 2015 | $1,436 | +4.0% |
| 2016 | $1,447 | +0.8% |
| 2017 | $1,547 | +6.9% |
| 2018 | $1,547 | -0.0% |
| 2019 | $1,686 | +9.0% |
| 2020 | $1,771 | +5.0% |
| 2021 | $1,809 | +2.2% |
| 2022 | $1,571 | -13.1% |
| 2023 | $1,707 | +8.6% |
| 2024 | $1,721 | +0.8% |
| 2025 | $1,752 | +1.8% |
| 2026 | $1,769 | +1.0% |
Best and worst month-end to buy
The best single month-end close to have bought PZA was 2008-11 ($11.13): $1,000 then is $2,058 today. The worst was 2021-07 ($23.48): $1,000 then is $976.
FAQ
What would $1,000 in PZA be worth today?
A $1,000 investment in Invesco National AMT-Free Municipal Bond ETFo (PZA) at the start of 2007 would be worth about $1,797 today, a total return of +79.7%. Dividends are reinvested in these figures.
What were the best and worst years for PZA?
Invesco National AMT-Free Municipal Bond ETFo (PZA)'s strongest calendar year since 2007 was 2009, a +17.6% return — $1,000 held through that year became about $1,176 by year-end. Its weakest year was 2022, at -13.1%.
Does the calculator include dividends and splits?
Yes where available. Prices are adjusted for both stock splits and reinvested dividends (total return), the same measure brokerages use.
How much would $100 per month in PZA have grown?
Investing $100 at the end of every month since 2007-10 would have grown to about $29,345 on $22,700 invested.
Did PZA beat the S&P 500?
Over the same period, $1,000 in the S&P 500 index would be worth $4,975. PZA trailed the S&P 500 by +63.9% in total return.
Is this investment advice?
No. Wall Street Regrets is an entertainment and education tool. Every number is a historical calculation, not a prediction, and past performance never guarantees future results.
Methodology
Invesco National AMT-Free Municipal Bond ETFo (PZA) historical total-return data from 2007-10 to 2026-08, reduced to month-end closes for the tables above.
Returns use adjusted close prices from Yahoo Finance historical data — adjusted for stock splits and reinvested dividends — the same convention used by major brokerages. A "year" scenario invests $1,000 at the prior December's month-end close and values it at the latest available month-end close. Non-USD amounts are converted at historical month-end exchange rates (Yahoo Finance): to USD on the buy date and back to your currency at the latest rate, so the return reflects the currency move as well as the asset.
Month-end resolution means intra-month extremes are not captured in tables; the calculator uses exact trading-day closes where daily data is available. Figures ignore taxes, fees, and the currency effects of non-USD listings. History is not a forecast. Wall Street Regrets is entertainment, not investment advice.
What if you'd held…
Data: adjusted close prices via Yahoo Finance. As of 2026-08. Not financial advice.