PMIOvsFLMIETF Comparison
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PGIM Municipal Income Opportunities ETF (PMIO) and Franklin Dynamic Municipal Bond ETF (FLMI) belong to the same industry segment: Municipal Bonds. PMIO's top 2 sector exposures are Municipal and Non-Corporate. In contrast, FLMI's top sector exposures are Municipal, Consumer Services and Healthcare. PMIO is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.3% for FLMI. PMIO is up 0.53% year-to-date (YTD) with +$25M in YTD flows. FLMI performs worse with -3.16% YTD performance, and +$1.13B in YTD flows. Run a side-by-side ETF comparison of PMIO and FLMI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PMIO vs FLMI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PMIO FLMI | +0.97%+1.21% | -0.78%-2.59% | +0.53%-3.16% | +0.91%-3.27% | n/a+15.37% | n/a+0.32% |
| Flows | PMIO FLMI | +$6M+$30M | +$11M+$164M | +$25M+$1.13B | +$33M+$1.42B | -+$2.32B | -+$2.40B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PMIO FLMI | +4.33%+6.05% | +2.69%+3.83% | n/a+3.94% | n/a+3.85% |
| Max drawdown | PMIO FLMI | -4.20%-6.74% | -4.97%-8.90% | n/a-8.90% | n/a-16.26% |
| Max drawdown duration | PMIO FLMI | 67d71d | 108d236d | n/a236d | n/a1340d |
Trading data
PMIO | FLMI | |
Last sale 10/23/2026 at 1:30 PM | $49.83 | $23.93 |
| Previous close 10/22/2026 | $49.88 | $23.89 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
PMIO | FLMI | |
|---|---|---|
| Last price | $49.83 | $23.93 |
| 1D performance | -0.09% | +0.17% |
| AuM | $59.59 M | $2.38 B |
| E/R | 0.25% | 0.3% |
Characteristics
PMIO | FLMI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | PGIM | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 3856 | 214 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 28, 2024 | August 31, 2017 |
| ESG | No | No |
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Exposure
Countries
PMIO
USA
38.18%
Other
61.82%
FLMI
USA
38.36%
Other
61.64%
Sectors
PMIO
Municipal
36.79%
Other
63.21%
FLMI
Municipal
38.03%
Other
61.97%
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Diversification
PMIO
Total weight of top 15 holdings out of 15
28.82%
FLMI
Total weight of top 15 holdings out of 15
19.5%
Top 15 holdings
Data as of August 31, 2026
PMIO
Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023)
2.52%
US34074HJC79
2.31%
Illinois Toll Highway Authority, 5% 1jan2045, USD
2.28%
Kentucky Public Energy Authority, 5.25% 1apr2054, USD (2023)
2.09%
County of Utah, 5% 15may2043, USD (2020A)
2.05%
New York Liberty Development Corp., 2.45% 15sep2069, USD (2019)
1.99%
US63607WBN39
1.86%
US63607WBD56
1.84%
National Finance Authority, 6.5% 1dec2034, USD (2026)
1.81%
US74442PB613
1.76%
US63607DAB29
1.75%
US924190WL18
1.69%
US64985STJ23
1.68%
US92708HAQ74
1.64%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.56%
FLMI
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
2.08%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
1.67%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
1.66%
Southeast Energy Authority, 5% 1jan2056, USD (2025A)
1.56%
California Community Choice Financing Authority, 5% 1mar2036, USD (2026B)
1.53%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.51%
US09182TGL52
1.44%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.33%
US592250EW01
1.21%
US771902HS55
1.09%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
0.96%
US292723DZ39
0.93%
US717901CC45
0.89%
US60637AFM99
0.85%
Southeast Energy Authority, 5% 1nov2035, USD (2025H)
0.80%
Frequently asked questions about PMIO and FLMI
How have the PMIO and FLMI ETFs performed in 2026?
As of October 22, 2026, PMIO is up 0.53% year-to-date (YTD), while FLMI has lost -3.16%. That puts PMIO better performer ahead so far this year.
Which ETF is attracting more investor money: PMIO or FLMI?
Year-to-date, the PMIO ETF saw +$25M in flows, compared to +$1.13B for FLMI.
Which ETF is more volatile: PMIO or FLMI?
Over the past year, PMIO had a volatility of 2.69%, while FLMI experienced 3.83%.
Which ETF is bigger: PMIO or FLMI?
As of October 22, 2026, PMIO holds $59.59 M in assets under management (AUM), while FLMI manages $2.38 B.
What sectors do the PMIO and FLMI ETFs invest in?
PMIO leans toward sectors like Municipal. Meanwhile, FLMI focuses on Municipal.
What are the top holdings of the PMIO ETF and FLMI ETF?
PMIO top holdings include Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023), US34074HJC79 and Illinois Toll Highway Authority, 5% 1jan2045, USD. FLMI holds in its top three: Black Belt Energy Gas District, 5% 1oct2035, USD (2025), Southeast Energy Authority, 5% 1nov2035, USD (2024A) and Kentucky Public Energy Authority, 5% 1may2036, USD (2025).
Which ETF is more diversified: PMIO or FLMI?
PMIO holds 6980 securities with 28.82% of its assets in the top 15. FLMI has 1414 securities and a top 15 weight of 19.5%.
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Latest news about PMIO & FLMI
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