PZA's 217-Payment Streak Reveals What Actually Keeps Muni Bonds Safe
For high earners hunting tax-free monthly income, the Invesco National AMT-Free Municipal Bond ETF (NYSEARCA:PZA) has become a reliable workhorse.
PZA ETF Pays 3.9% Monthly Tax Free Income With 18 Years of Perfect Reliability
Invesco National AMT-Free Municipal Bond ETF (NYSEARCA:PZA) generates income by collecting interest from municipal bonds it holds.
Pizza Pizza Royalty: A Piece Of Advice - Buy It
Pizza Pizza Royalty Corp. remains attractive, supported by a high-margin, asset-light model and robust fundamentals. PZA is reasonably valued with a target price of CAD $18.31–$19.27, offering 15–20% upside and a sustainable, high dividend yield. Technical signals are bullish, but recent overbuying suggests caution and potential for a near-term dip before Q4 2025 earnings.
PZA - Wholly Sensible But The Results Are Disappointing
PZA offers low credit risk and tax-free income by holding long-term, diversified municipal bonds, but exposes investors to significant interest rate risk. The fund's 0.28% management fee is in line with peers, but its broad index-tracking approach limits yield potential compared to more selective muni funds. Current yield (TTM) of 3.5% is unexciting, especially when compared to taxable alternatives like FLOT, unless you're in a high tax bracket.
Pizza Pizza Royalty: This Royalty Fund Keeps The Dough Rolling In
Pizza Pizza Royalty has delivered a 23%+ total return since my initial recommendation, far outpacing the S&P 500 and Boston Pizza. Despite macro headwinds and softening discretionary spending in Canada, same-store sales and value-driven promotions continue to drive resilient royalty growth. Expansion in Mexico is accelerating, providing a new growth lever alongside steady 2-3% footprint growth in Canada.
