FTCAvsPVIETF Comparison
VS
Franklin California Municipal Income ETF (FTCA) and Invesco VRDO Tax-Free ETF (PVI) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. FTCA is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.25% for PVI. FTCA is down -1.86% year-to-date (YTD) with -$7M in YTD flows. PVI performs better with 1.24% YTD performance, and -$3K in YTD flows. Run a side-by-side ETF comparison of FTCA and PVI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
FTCA vs PVI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FTCA PVI | -1.27%+0.15% | -2.82%+0.53% | -1.86%+1.24% | n/a+2.08% | n/a+7.54% | n/a+10.15% |
| Flows | FTCA PVI | +$9M- | -$30M+$1M | -$7M-$3K | --$3K | --$9M | --$17M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FTCA PVI | +3.56%+0.09% | n/a+0.15% | n/a+0.13% | n/a+0.14% |
| Max drawdown | FTCA PVI | -3.84%n/a | n/an/a | n/an/a | n/a-0.09% |
| Max drawdown duration | FTCA PVI | 63dn/a | n/an/a | n/an/a | n/a295d |
Trading data
FTCA | PVI | |
Last sale 9/2/2026 at 1:30 PM | $7.15 | $24.84 |
| Previous close 09/01/2026 | $7.14 | $24.92 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 2, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
FTCA
is actively managed and doesn’t replicate an indexFTCA | PVI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
FTCA | PVI | |
|---|---|---|
| Last price | $7.15 | $24.84 |
| 1D performance | +0.14% | -0.32% |
| AuM | $562.70 M | $31.03 M |
| E/R | 0.35% | 0.25% |
Characteristics
FTCA | PVI | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Franklin Templeton | Invesco |
| Benchmark | - | ICE US Municipal AMT-Free VRDO Constrained Index |
| N° of holdings | 62 | 44 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 24, 2025 | November 15, 2007 |
| ESG | No | No |
Advertisement
Exposure
Countries
FTCA
USA
37.5%
Other
62.5%
PVI
USA
37.26%
Other
62.74%
Sectors
FTCA
Municipal
37.5%
Other
62.5%
PVI
Municipal
37.26%
Other
62.74%
Advertisement
Diversification
FTCA
Total weight of top 15 holdings out of 15
19.62%
PVI
Total weight of top 15 holdings out of 15
33.32%
Top 15 holdings
Data as of July 31, 2026
FTCA
California Pollution Control Financing Authority, 5% 21nov2045, USD
1.82%
US30309HAA59
1.70%
Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016)
1.38%
California Municipal Finance Authority, 4.2% 1aug2040, USD (2024)
1.34%
San Francisco Public Utilities Commission, 5% 1nov2053, USD (2023)
1.33%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024E)
1.32%
US79728FLL30
1.31%
MSR Energy Authority, 6.5% 1nov2039, USD (2009A)
1.31%
Los Angeles Department of Water and Power, 5% 1jul2046, USD (2022)
1.30%
California Municipal Finance Authority, 3% 15may2051, USD
1.25%
Sweetwater Union High District, 5% 1aug2052, USD (2018)
1.24%
US130493CL10
1.10%
California, 5% 1oct2045, USD
1.09%
US13048VG510
1.07%
Alameda Corridor Transportation Authority, 0% 1oct2049, USD (2022A, 9941D)
1.06%
PVI
US64972GAS30
4.45%
US64966TAF12
3.89%
Texas, FRN 1jun2046, USD (2015B)
2.95%
US20775HDU41
2.27%
New York Transitional Finance Authority, FRN 1nov2036, USD
2.27%
Florida Keys Aqueduct Authority, FRN 1sep2035, USD (2008)
2.27%
US45200FFS39
2.17%
New York Metropolitan Transportation Authority, FRN 1nov2032, USD (2012G-2)
1.94%
West Palm Beach, FRN 1oct2038, USD (2008C)
1.62%
US405815HE45
1.62%
US44244CN944
1.62%
Texas State University, FRN 1aug2039, USD (2008B)
1.62%
US072024YE64
1.62%
City of New York, 0% 15sep2006, USD (2029-SER, 2738D)
1.56%
US87638QSH38
1.46%
Frequently asked questions about FTCA and PVI
How have the FTCA and PVI ETFs performed in 2026?
As of September 1, 2026, FTCA is down -1.86% year-to-date (YTD), while PVI has returned 1.24%. That puts PVI better performer ahead so far this year.
Which ETF is attracting more investor money: FTCA or PVI?
Year-to-date, the FTCA ETF saw -$7M in flows, compared to -$3K for PVI.
Which ETF is bigger: FTCA or PVI?
As of September 1, 2026, FTCA holds $562.70 M in assets under management (AUM), while PVI manages $31.03 M.
What sectors do the FTCA and PVI ETFs invest in?
FTCA leans toward sectors like Municipal. Meanwhile, PVI focuses on Municipal.
What are the top holdings of the FTCA ETF and PVI ETF?
FTCA top holdings include California Pollution Control Financing Authority, 5% 21nov2045, USD, US30309HAA59 and Chabot-Las Positas Community College District, 5.25% 1aug2048, USD (2016). PVI holds in its top three: US64972GAS30, US64966TAF12 and Texas, FRN 1jun2046, USD (2015B).
Which ETF is more diversified: FTCA or PVI?
FTCA holds 282 securities with 19.62% of its assets in the top 15. PVI has 147 securities and a top 15 weight of 33.32%.
Advertisement
Advertisement
