PGIM Municipal Income Opportunities ETF
$49.00−0.41 (−0.82%)
- Expense ratio
- 0.25%
- Fund size
- $53M
- 1Y return
- +0.8%
- Yield · Last 12 months
- 3.98%
- Volume · 30D
- 0M sh
- NAV per share
- $49.38
- 52W range
The ETF.net PMIO Grade
Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 69Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 83Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 70Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 40Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 40Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 29Category rank
Our read on PMIO
BA muni fund with a roving mandate: PGIM's bond desk picks the bonds instead of copying an index, using the Bloomberg 1-15 Year Municipal Index as a yardstick rather than a leash, and pays income monthly.
The Fund seeks total return from current income and capital appreciation.
Why people hold it
- Active muni management for 0.25% a year, below the typical muni ETF fee. Stock-picking in the muni market usually costs more than this.
- Built for flexibility: PGIM Fixed Income subadvises and can dial credit and duration risk, rather than owning whatever the benchmark owns.pgim.com
- At least 80% of assets go to municipal bonds whose income is exempt from federal income tax, and the fund distributes monthly.pgim.com
- The portfolio matches the total-return-from-munis job it advertises, and it sits in the upper half of a crowded muni ETF field.
Worth knowing
- Small and thinly traded next to the muni index giants. Limit orders matter more here than in something like VTEB or MUB.
- You pay for the manager: 0.25% versus 0.03% at VTEB and 0.05% at MUB. Active calls have to earn that gap back.
- Launched in June 2024, so the track record is short and the credit and duration calls have not been tested across a full rate cycle.
PMIO Holdings
- Bonds
- —
- 22%
- MUB
Sectors
- Financials100.0%
Geography
- United States100.00%
PMIO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PMIO |
|---|---|
| Year to date | −0.5% |
| 1 month | −1.6% |
| 3 months | −2.5% |
| 1 year | +0.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PMIO |
|---|---|---|
| 2026 YTD | −0.5% | |
| 2025 | +5.3% | |
| 2024 | +3.0% |
PMIO in the news
ETF.net Research hasn’t filed on PMIO yet — coverage lands here as it’s written.
PMIO Dividends
- 3.98%
- $1.96
- $0.17 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 2, 2026 | $0.17 |
| Jul 31, 2026 | Aug 4, 2026 | $0.16 |
| Jun 30, 2026 | Jul 2, 2026 | $0.16 |
| May 29, 2026 | Jun 2, 2026 | $0.16 |
| Apr 30, 2026 | May 4, 2026 | $0.17 |
| Mar 31, 2026 | Apr 2, 2026 | $0.17 |
| Mar 2, 2026 | Mar 4, 2026 | $0.15 |
| Feb 2, 2026 | Feb 4, 2026 | $0.17 |
| Dec 30, 2025 | Jan 2, 2026 | $0.14 |
| Dec 1, 2025 | Dec 3, 2025 | $0.16 |
| Nov 3, 2025 | Nov 5, 2025 | $0.17 |
| Oct 1, 2025 | Oct 3, 2025 | $0.17 |
PMIO Risk
- 3.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.08
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −3.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PMIO Cost
- The middle half of Other Municipal Bond funds
- Median 0.30%
17 of the 62 Other Municipal Bond funds charge less.