Invesco Floating Rate Municipal Income ETF
$24.82−0.03 (−0.10%)
- Expense ratio
- 0.25%
- Fund size
- $31M
- 1Y return
- +2.3%
- Yield · Last 12 months
- 2.21%
- Holdings
- 150
- Volume · 30D
- 0M sh
- NAV per share
- $24.81
- 52W range
The ETF.net PVI Grade
Score 55 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.CScore 43Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 58Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 26Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.FScore 21Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 51Category rank
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
- 150
- 25%
- New York City Municipal Water Finance Authority 3.20% 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.
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 | PVI |
|---|---|
| Year to date | +1.3% |
| 1 month | +0.2% |
| 3 months | +0.7% |
| 1 year | +2.3% |
| 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 | +1.3% | |
| 2025 | +3.1% | |
| 2024 | +2.4% | |
| 2023 | +2.7% | |
| 2022 | +0.9% | |
| 2021 | −0.0% | |
| 2020 | +0.2% |
PVI in the news
ETF.net Research hasn’t filed on PVI yet — coverage lands here as it’s written.
PVI Dividends
- 2.21%
- $0.55
- $0.04 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 21, 2026 | Pays Sep 25, 2026 | $0.04 |
| Aug 24, 2026 | Aug 28, 2026 | $0.04 |
| Jul 20, 2026 | Jul 24, 2026 | $0.05 |
| Jun 22, 2026 | Jun 26, 2026 | $0.04 |
| May 18, 2026 | May 22, 2026 | $0.06 |
| Apr 20, 2026 | Apr 24, 2026 | $0.04 |
| Mar 23, 2026 | Mar 27, 2026 | $0.03 |
| Feb 23, 2026 | Feb 27, 2026 | $0.03 |
| Jan 20, 2026 | Jan 23, 2026 | $0.06 |
| Dec 22, 2025 | Dec 26, 2025 | $0.05 |
| Nov 24, 2025 | Nov 28, 2025 | $0.05 |
| Oct 20, 2025 | Oct 24, 2025 | $0.06 |
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.
- −2.65
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
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
13 of the 27 Short-Duration Municipal Bonds funds charge less.