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PVI vs VSDM

Invesco Floating Rate Municipal Income ETF

PVICNYSE Arca

Vanguard Short Duration Tax-Exempt Bond ETF

VSDMACboe

Overlap

No data

Expense ratio

VSDM −0.13pt a year

PVI0.25%VSDM0.12%

Avg volume · 30D

VSDM 29.3×the volume

PVI8.82KVSDM258K

PVI vs VSDM Performance

Oct 31, 2025 – Nov 2, 2026

+2.6%PVI+2.1%VSDM

Oct 31, 2025 to Nov 2, 2026. PVI +2.6%. VSDM +2.1%. Use the arrow keys to read each point.−0.5%0%0.5%1%1.5%Oct 2025May 2026Nov 2026
Expense ratio
PVI 0.25%
VSDM 0.12%, better
Fund size
PVI $36M
VSDM $1.2B
1Y total return
PVI +2.6%, better
VSDM +2.1%
Yield (12M)
PVI 2.19%
VSDM 3.38%, better
Holdings
PVI 185
VSDM 3315
Avg volume (30D)
PVI 8.82K sh
VSDM 258K sh, better
NAV per share
PVI $24.82
VSDM $75.79
52W range

ETF.net Grade

PVI: Cost 39, Risk 59, Mission 100, Tradability 25, Holdings 23, Durability 50. VSDM: Cost 85, Risk 48, Mission 100, Tradability 79, Holdings 75, Durability 62.
Pillar letters and Scores for PVI, VSDM, with each pillar’s weight
PillarPVIVSDM
Cost30% weightD39A85Higher
Mission25% weightA100A100
Risk15% weightB59HigherC48
Tradability15% weightD25A79Higher
Holdings10% weightF23A75Higher
Durability5% weightC50B62Higher

Rank among Short-Duration Municipal Bonds funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PVI and VSDM are both graded against the same 27 Short-Duration Municipal Bonds funds, so their Grades compare head to head.

Short-Duration Municipal Bonds⁠

Category · 27 funds
See all 27 ›

VSDM ranks 2nd and PVI 20th of 27 funds in the Short-Duration Municipal Bonds Category.

  1. Rank 1AVTESVanguard Short-Term Tax-Exempt Bond ETFScore 81
  2. Rank 2ASUBiShares Short-Term National Muni Bond ETFScore 80
  3. Rank 2AVSDMVanguard Short Duration Tax-Exempt Bond ETFScore 80
  4. Rank 4ATAXSNorthern Trust Short-Term Tax-Exempt Bond ETFScore 77
  5. Rank 20CMMSDNYLI MacKay Muni Short Duration ETFScore 54
  6. Rank 20CPVIInvesco Floating Rate Municipal Income ETFScore 54
  7. Rank 23CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFScore 53

Our read on each fund

ETF.net Research

PVICInvesco Floating Rate Municipal Income ETF

VSDMAVanguard Short Duration Tax-Exempt Bond ETF

In short

PVI Most 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.

VSDM No data

Stated mandate

PVI 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.

VSDM No data

Why people hold it

  • PVI 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.commsrb.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

VSDM No data

Worth knowing

  • PVI 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.commsrb.org

VSDM No data

Full PVI profile⁠

Full VSDM profile⁠

PVI vs VSDM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PVI vs VSDM Cost

Overpaying PVI vs VSDM

$2,639

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PVI 0.25%

    $5,159

  • VSDM 0.12%

    $2,520

$10,000
30 years

Cost over time

  • PVI 0.25%
  • VSDM 0.12%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530PVI $5,159VSDM $2,520

Year by year

YearPVIVSDMOverpaying
10$455$220$235
20$1,769$859$910
30$5,159$2,520$2,639

Expense ratio

  • 0.25%PVI
  • 0.12%VSDM, cheaper
  • Middle half of Short-Duration Municipal Bonds funds
  • Median 0.21%

VSDM 5th cheapest of 27 funds

PVI 15th cheapest of 27 funds

PVI vs VSDM Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
PVI 2.19%
VSDM 3.38%, better
Payout (12M)
PVI $0.55
VSDM $2.56
Last payment
PVI $0.05
VSDM $0.19
Ex-dividend
PVI Oct 19, 2026
VSDM Nov 2, 2026
Paid on
PVI Oct 23, 2026
VSDM Pays Nov 4, 2026
Frequency
PVI Monthly
VSDM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PVIMonthly · 46 paymentsAll PVI payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 23, 2023 $0.04; Feb 21, 2023 $0.04; Mar 20, 2023 $0.06; Apr 24, 2023 $0.07; May 22, 2023 $0.08; Jun 20, 2023 $0.09; Jul 24, 2023 $0.09; Aug 21, 2023 $0.09; Sep 18, 2023 $0.07; Oct 23, 2023 $0.07; Nov 20, 2023 $0.07; Dec 18, 2023 $0.06; Jan 22, 2024 $0.06; Feb 20, 2024 $0.06; Mar 18, 2024 $0.05; Apr 22, 2024 $0.06; May 20, 2024 $0.06; Jun 24, 2024 $0.06; Jul 22, 2024 $0.06; Aug 19, 2024 $0.04; Sep 23, 2024 $0.05; Oct 21, 2024 $0.06; Nov 18, 2024 $0.07; Dec 23, 2024 $0.04; Jan 21, 2025 $0.06; Feb 24, 2025 $0.04; Mar 24, 2025 $0.03; Apr 21, 2025 $0.05; May 19, 2025 $0.06; Jun 23, 2025 $0.05; Jul 21, 2025 $0.04; Aug 18, 2025 $0.03; Sep 22, 2025 $0.04; Oct 20, 2025 $0.06; Nov 24, 2025 $0.05; Dec 22, 2025 $0.05; Jan 20, 2026 $0.06; Feb 23, 2026 $0.03; Mar 23, 2026 $0.03; Apr 20, 2026 $0.04; May 18, 2026 $0.06; Jun 22, 2026 $0.04; Jul 20, 2026 $0.05; Aug 24, 2026 $0.04; Sep 21, 2026 $0.04; Oct 19, 2026 $0.05. Use the arrow keys to read each point.$0$0.2520232026YTD
VSDMMonthly · 23 paymentsAll VSDM payments⁠
One bar per payment. 23 payments from 2023 to 2026 YTD. Dec 24, 2024 $0.26; Feb 3, 2025 $0.20; Mar 3, 2025 $0.20; Apr 1, 2025 $0.16; May 1, 2025 $0.19; Jun 2, 2025 $0.20; Jul 1, 2025 $0.19; Aug 1, 2025 $0.19; Sep 2, 2025 $0.20; Oct 1, 2025 $0.20; Nov 3, 2025 $0.20; Dec 1, 2025 $0.20; Dec 18, 2025 $0.20; Feb 2, 2026 $0.19; Mar 2, 2026 $0.20; Apr 1, 2026 $0.20; May 1, 2026 $0.20; Jun 1, 2026 $0.20; Jul 1, 2026 $0.20; Aug 3, 2026 $0.20; Sep 1, 2026 $0.20; Oct 1, 2026 $0.19; Nov 2, 2026 $0.19. Use the arrow keys to read each point.$0$0.2520232026YTD

PVI vs VSDM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PVI 0.8%VSDM 2.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
PVI −2.53VSDM −0.26since Dec 2024
Worst fallMax drawdown, 5 years
PVI −1.2%VSDM −2.8%since Nov 2024
Market sensitivityBeta, 5 years
PVI −0.01VSDM 0.09

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