Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF
US ˙ ARCA ˙ US46138E5371

SecurityPZA / Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF
InstitutionAdvisory Alpha, LLC
Latest Disclosed Ownership23,631 shares
Latest Disclosed Value $ 543,040
Advisory Alpha, LLC reports 18.62% decrease in ownership of PZA / Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF

On May 14, 2026 - Advisory Alpha, LLC filed a 13F-HR form disclosing ownership of 23,631 shares of Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF (US:PZA) valued at $543,040 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 29,037 shares of Invesco Exchange-Traded Fund Trust II - Invesco National AMT-Free Municipal Bond ETF. This represents a change in shares of -18.62% during the quarter. The current value of the position is $553,674 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 23,631 -5,406 -18.62 543 -19.32 0.0148
2026-02-06 2025-12-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 29,037 -1,936 -6.25 673 -6.01 0.0183
2025-11-12 2025-09-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 30,973 2,159 7.49 716 11.01 0.0200
2025-08-01 2025-06-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 28,814 1,470 5.38 645 2.38 0.0201
2025-05-19 2025-03-31 13F/A-1 INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 27,344 -5,157 -15.87 630 -17.86 0.0214
2025-04-08 2025-03-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 15,868 -16,633 366 0.0227
2025-01-17 2024-12-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 32,501 4,781 17.25 767 14.65 0.0273
2024-11-12 2024-09-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 27,720 -891 -3.11 669 -1.18 0.0238
2024-08-21 2024-06-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 28,611 -6,873 -19.37 678 -19.88 0.0267
2024-05-06 2024-03-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 35,484 -19,412 -35.36 846 -36.32 0.0347
2024-01-23 2023-12-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 54,896 5,755 11.71 1,327 21.97 0.0608
2023-10-18 2023-09-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 49,141 -5,059 -9.33 1,089 -14.93 0.0561
2023-07-25 2023-06-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 54,200 -5,488 -9.19 1,279 -9.48 0.0657
2023-05-02 2023-03-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 59,688 -1,321 -2.17 1,413 1.00 0.0898
2023-01-30 2022-12-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 61,009 -5,550 -8.34 1,400 -4.83 0.0991
2022-10-12 2022-09-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 66,559 -2,787 -4.02 1,470 -9.54 0.1119
2022-07-15 2022-06-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 69,346 -32,539 -31.94 1,625 -36.02 0.1222
2022-05-02 2022-03-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 101,885 -43,389 -29.87 2,540 -35.50 0.1641
2022-02-04 2021-12-31 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 145,274 12,337 9.28 3,938 10.28 0.2296
2021-11-09 2021-09-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 132,937 11,807 9.75 3,571 8.15 0.2560
2021-08-13 2021-06-30 13F INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 121,130 53,165 78.22 3,302 81.53 0.2705
2021-05-20 2021-03-31 13F/A-1 INVESCO EXCH TRADED FD TR II NATL AMT MUNI 46138E537 67,965 67,965 1,819 0.4383
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.