PMIOvsTAFIETF Comparison
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PGIM Municipal Income Opportunities ETF (PMIO) and AB Tax-Aware Short Duration Municipal ETF (TAFI) belong to the same industry segment: Municipal Bonds. PMIO's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TAFI's top sector exposures are Municipal, Industrials and Consumer Non-Cyclicals. PMIO is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.27% for TAFI. PMIO is up 0.77% year-to-date (YTD) with +$28M in YTD flows. TAFI performs better with 0.96% YTD performance, and +$400M in YTD flows. Run a side-by-side ETF comparison of PMIO and TAFI 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 TAFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PMIO TAFI | +1.66%+0.57% | +0.01%-0.15% | +0.77%+0.96% | +1.11%+1.35% | n/a+11.93% | n/an/a |
| Flows | PMIO TAFI | +$9M+$87M | +$14M+$85M | +$28M+$400M | +$35M+$500M | -+$1.25B | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PMIO TAFI | +4.22%+2.27% | +2.70%+1.39% | n/a+1.48% | n/an/a |
| Max drawdown | PMIO TAFI | -4.20%-2.23% | -4.97%-2.28% | n/a-2.28% | n/an/a |
| Max drawdown duration | PMIO TAFI | 68d70d | 109d108d | n/a108d | n/an/a |
Trading data
PMIO | TAFI | |
Last sale 10/26/2026 at 1:30 PM | $50.02 | $24.91 |
| Previous close 10/23/2026 | $49.83 | $24.87 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/26/2026 at 1:30 PM
Live
Closed
PMIO | TAFI | |
|---|---|---|
| Last price | $50.02 | $24.91 |
| 1D performance | +0.38% | +0.16% |
| AuM | $62.23 M | $1.45 B |
| E/R | 0.25% | 0.27% |
Characteristics
PMIO | TAFI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | PGIM | AllianceBernstein |
| Benchmark | - | - |
| N° of holdings | 3856 | 237 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 28, 2024 | September 13, 2022 |
| ESG | No | No |
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Exposure
Countries
PMIO
USA
38.18%
Other
61.82%
TAFI
USA
38.46%
Other
61.54%
Sectors
PMIO
Municipal
36.79%
Other
63.21%
TAFI
Municipal
37.95%
Other
62.05%
Diversification
PMIO
Total weight of top 15 holdings out of 15
28.82%
TAFI
Total weight of top 15 holdings out of 15
12.84%
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%
TAFI
Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD
1.53%
US040507QB45
1.41%
US7485082P22
1.17%
City of New York, 5% 1feb2032, USD (2026)
1.05%
Colorado Health Facilities Authority, 5% 1sep2032, USD (2025A)
0.83%
US230589AB90
0.81%
Illinois Finance Authority, FRN 15nov2037, USD (2018)
0.77%
Revere, 4% 29jul2027, USD
0.75%
Miami-Dade School District, 4% 7jan2027, USD (2026)
0.74%
US09182TKL07
0.74%
Puerto Rico Sales Tax Financing Corp., 0% 1jul2029, USD (3792D)
0.73%
US745160TD34
0.66%
Orchard Park Central School District, 4% 30apr2027, USD (2026)
0.57%
US67756CGX02
0.57%
City of Los Angeles, 5% 24jun2027, USD (2026)
0.53%
Frequently asked questions about PMIO and TAFI
How have the PMIO and TAFI ETFs performed in 2026?
As of October 23, 2026, PMIO is up 0.77% year-to-date (YTD), while TAFI has returned 0.96%. That puts TAFI better performer ahead so far this year.
Which ETF is attracting more investor money: PMIO or TAFI?
Year-to-date, the PMIO ETF saw +$28M in flows, compared to +$400M for TAFI.
Which ETF is more volatile: PMIO or TAFI?
Over the past year, PMIO had a volatility of 2.7%, while TAFI experienced 1.39%.
Which ETF is bigger: PMIO or TAFI?
As of October 23, 2026, PMIO holds $62.23 M in assets under management (AUM), while TAFI manages $1.45 B.
What sectors do the PMIO and TAFI ETFs invest in?
PMIO leans toward sectors like Municipal. Meanwhile, TAFI focuses on Municipal.
What are the top holdings of the PMIO ETF and TAFI ETF?
PMIO top holdings include Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023), US34074HJC79 and Illinois Toll Highway Authority, 5% 1jan2045, USD. TAFI holds in its top three: Pennsylvania Economic Development Financing Authority, FRN 15may2053, USD, US040507QB45 and US7485082P22.
Which ETF is more diversified: PMIO or TAFI?
PMIO holds 6980 securities with 28.82% of its assets in the top 15. TAFI has 691 securities and a top 15 weight of 12.84%.
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