Invesco Floating Rate Municipal Income ETF
$24.87−0.03 (−0.12%)
- 0.25%
- $34M
- +2.2%
- 2.21%
- 0M sh
- $24.85
- low $24.65high $25.09
The ETF.net PVI Grade
B
Score 55 out of 100
- 22 of 28
Score 55 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C43 out of 100Rank 14 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B65 out of 100Rank 5 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D26 out of 100Rank 24 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F20 out of 100Rank 27 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 18 of 28
Our read on PVI
BMost short-muni funds own short bonds. PVI owns muni floaters: VRDOs whose rates reset as often as weekly and can be tendered back at par. A tax-exempt parking spot that has been running since 2007.
The fund generally invests at least 80% of its assets in U.S.-dollar, tax-exempt variable-rate demand obligations, providing exposure to the municipal bond market.
Why people hold it
- Built on AMT-free tax-exempt VRDOs. Rates reset daily, weekly or monthly and holders can put the notes back at par, keeping rate sensitivity at the front of the curve.invesco.comemma.msrb.org
- Running since 2007 and it sticks to the script: at least 80% of assets in the VRDOs of its ICE AMT-Free index, roughly 150 positions.invesco.com
- Pays monthly, and the index screens out bonds whose interest is subject to the alternative minimum tax.invesco.com
Worth knowing
- At 0.25% it matches the typical short-muni fund, but index rivals undercut it: VTES and TAXS charge 0.05%.
- Small asset base and light trading, so spreads can run wider than the household-name muni ETFs.
- The put feature leans on bank liquidity providers. Invesco flags that a thin secondary market for some variable-rate notes could make them hard to sell.invesco.comemma.msrb.org
PVI Holdings
- Bonds
- 168
- 23%
- New York City Municipal Water Finance Authority 2.75% 06/15/2046
PVI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PVI$10,224
Returns run to the Oct 12, 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 | PVI |
|---|---|
| Year to date | +1.5% |
| 1 month | +0.1% |
| 3 months | +0.8% |
| 1 year | +2.2% |
| 3 years | +2.5% |
| 5 years | +2.1% |
| 10 years | +1.4% |
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 | PVI |
|---|---|---|
| 2026 YTD | +1.5% | |
| 2025 | +3.1% | |
| 2024 | +2.4% | |
| 2023 | +2.7% | |
| 2022 | +0.9% | |
| 2021 | 0.0% | |
| 2020 | +0.2% |
PVI in the news
PVI Dividends
- 2.21%
- $0.55
- $0.04 per share
- Monthly
Distribution history
PVI Risk
- 0.7%
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.
- −2.55
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.
- −1.2%
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.
- −0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PVI Cost
0.25%
PVI0.25%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
13 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- BMMSDNYLI MacKay Muni Short Duration ETFExpense ratio 0.25%1 year return +1.0%
- BSMMUPIMCO Short Term Municipal Bond Active Exchange-Traded FundExpense ratio 0.35%1 year return +1.2%
- CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFExpense ratio 0.35%1 year return +1.5%
- CZMUNF/m Ultrashort Tax-Free Municipal ETFExpense ratio 0.30%1 year return +2.6%
- CBKMSBNY Mellon Municipal Short Duration ETFExpense ratio 0.35%1 year return —