PSQOvsTFIETF Comparison
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Palmer Square Credit Opportunities ETF (PSQO) belongs to the US Aggregate Bonds segment. State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) is part of the Municipal Bonds segment. PSQO's top 3 sector exposures are Sovereign, Industrials and Non-Corporate. In contrast, TFI's top sector exposures are Municipal. PSQO is more expensive with a Total Expense Ratio (TER) of 0.52%, versus 0.23% for TFI. PSQO is up 3.13% year-to-date (YTD) with +$192M in YTD flows. TFI performs worse with -2.49% YTD performance, and +$84M in YTD flows. Run a side-by-side ETF comparison of PSQO and TFI 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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PSQO vs TFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PSQO TFI | +0.14%-0.28% | +0.81%-3.60% | +3.13%-2.49% | +4.40%-1.96% | n/a+9.22% | n/a-3.38% |
| Flows | PSQO TFI | +$19M-$11M | +$46M-$6M | +$192M+$84M | +$214M-$246M | --$201M | --$289M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PSQO TFI | +0.59%+5.46% | +0.69%+3.39% | n/a+4.11% | n/a+4.15% |
| Max drawdown | PSQO TFI | -0.24%-6.18% | -0.68%-7.00% | n/a-7.00% | n/a-14.88% |
| Max drawdown duration | PSQO TFI | 22d92d | 40d229d | n/a229d | n/a1513d |
Trading data
PSQO | TFI | |
Last sale 10/19/2026 at 1:30 PM | $20.56 | $43.34 |
| Previous close 10/16/2026 | $20.59 | $43.33 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 20, 2026
1-year trailing difference
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PSQO
is actively managed and doesn’t replicate an indexPSQO | TFI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
PSQO | TFI | |
|---|---|---|
| Last price | $20.56 | $43.34 |
| 1D performance | -0.15% | +0.02% |
| AuM | $308.98 M | $2.94 B |
| E/R | 0.52% | 0.23% |
Characteristics
PSQO | TFI | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Palmer Square | State Street Investment Management |
| Benchmark | - | ICE 1+ Year AMT-Free Broad Municipal Index |
| N° of holdings | 164 | 813 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2024 | September 11, 2007 |
| ESG | No | No |
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Exposure
Countries
PSQO
USA
38.48%
Other
61.52%
TFI
USA
42.6%
Other
57.4%
Sectors
PSQO
Sovereign
10.89%
Industrials
7.3%
Other
81.81%
TFI
Municipal
42.6%
Other
57.4%
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Diversification
PSQO
Total weight of top 15 holdings out of 15
21.52%
TFI
Total weight of top 15 holdings out of 15
2.91%
Top 15 holdings
Data as of August 31, 2026
PSQO
Fidelity Investments Money Market Treasury Portfolio
5.68%
USA, Notes 3.875% 31dec2027, USD (AH-2027)
2.37%
USA, Notes 4% 31may2028, USD (BC-2028)
2.37%
USA, Notes 3.5% 31jan2028, USD (U-2028)
1.84%
USA, Notes 4% 31jan2029, USD (U-2029)
1.44%
USA, Bills 0% 5nov2026, USD (182D)
1.18%
US14317KAQ76
1.02%
USA, Bills 0% 19nov2026, USD (182D)
0.84%
US38190MAJ09
0.68%
US29002GAU58
0.68%
US89640AAY29
0.68%
US14315GAW50
0.68%
US671000AL11
0.68%
US55956CAA99
0.68%
Elmwood CLO 2025-1A, FRN 22apr2038, USD (ABS, A)
0.68%
TFI
California, 5% 1nov2027, USD
0.23%
US574193VL92
0.20%
State of Washington, 5% 1feb2028, USD (2024A)
0.20%
US373385LV30
0.20%
US91412HWK57
0.20%
US64972GE598
0.20%
US55844RWX87
0.20%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.20%
US764581KP80
0.19%
US677523KE13
0.19%
US574204S201
0.19%
California Community Choice Financing Authority, 5% 1may2054, USD (2024A)
0.18%
California, 5% 1nov2032, USD
0.18%
US010831EC55
0.18%
City of New York, 5% 1aug2029, USD
0.17%
Frequently asked questions about PSQO and TFI
How have the PSQO and TFI ETFs performed in 2026?
As of October 16, 2026, PSQO is up 3.13% year-to-date (YTD), while TFI has lost -2.49%. That puts PSQO better performer ahead so far this year.
Which ETF is attracting more investor money: PSQO or TFI?
Year-to-date, the PSQO ETF saw +$192M in flows, compared to +$84M for TFI.
Which ETF is more volatile: PSQO or TFI?
Over the past year, PSQO had a volatility of 0.69%, while TFI experienced 3.39%.
Which ETF is bigger: PSQO or TFI?
As of October 16, 2026, PSQO holds $308.98 M in assets under management (AUM), while TFI manages $2.94 B.
What sectors do the PSQO and TFI ETFs invest in?
PSQO leans toward sectors like Sovereign and Industrials. Meanwhile, TFI focuses on Municipal.
What are the top holdings of the PSQO ETF and TFI ETF?
PSQO top holdings include Fidelity Investments Money Market Treasury Portfolio, USA, Notes 3.875% 31dec2027, USD (AH-2027) and USA, Notes 4% 31may2028, USD (BC-2028). TFI holds in its top three: California, 5% 1nov2027, USD, US574193VL92 and State of Washington, 5% 1feb2028, USD (2024A).
Which ETF is more diversified: PSQO or TFI?
PSQO holds 427 securities with 21.52% of its assets in the top 15. TFI has 1916 securities and a top 15 weight of 2.91%.
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