PVIvsJMSIETF Comparison
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Invesco VRDO Tax-Free ETF (PVI) belongs to the Municipal Bonds segment. JPMorgan Sustainable Municipal Income ETF (JMSI) is part of the Multiple Trends segment. PVI's top 1 sector exposures are Municipal. In contrast, JMSI's top sector exposures are Municipal and Sovereign. PVI is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.5% for JMSI. PVI is up 1.24% year-to-date (YTD) with -$3K in YTD flows. JMSI performs worse with -0.46% YTD performance, and +$53M in YTD flows. Run a side-by-side ETF comparison of PVI and JMSI 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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PVI vs JMSI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PVI JMSI | +0.16%-0.57% | +0.53%-1.57% | +1.24%-0.46% | +2.08%+3.22% | +7.54%+10.55% | +10.16%n/a |
| Flows | PVI JMSI | -+$7M | +$1M+$15M | -$3K+$53M | -$3K+$80M | -$9M+$157M | -$17M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PVI JMSI | +0.09%+2.42% | +0.15%+2.36% | +0.13%+3.22% | +0.14%n/a |
| Max drawdown | PVI JMSI | n/a-2.11% | n/a-2.75% | n/a-4.08% | -0.09%n/a |
| Max drawdown duration | PVI JMSI | n/a58d | n/a185d | n/a270d | 294dn/a |
Trading data
PVI | JMSI | |
Last sale 9/2/2026 at 1:30 PM | $24.87 | $48.82 |
| Previous close 09/02/2026 | $24.84 | $48.85 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 3, 2026
1-year trailing difference
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JMSI
is actively managed and doesn’t replicate an indexPVI | JMSI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
PVI | JMSI | |
|---|---|---|
| Last price | $24.87 | $48.82 |
| 1D performance | +0.12% | -0.07% |
| AuM | $31.03 M | $386.32 M |
| E/R | 0.25% | 0.5% |
Characteristics
PVI | JMSI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | J.P. Morgan Asset Management |
| Benchmark | ICE US Municipal AMT-Free VRDO Constrained Index | - |
| N° of holdings | 44 | 102 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 15, 2007 | July 14, 2023 |
| ESG | No | Yes |
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Exposure
Countries
PVI
USA
37.26%
Other
62.74%
JMSI
USA
37.54%
Other
62.46%
Sectors
PVI
Municipal
37.26%
Other
62.74%
JMSI
Municipal
35.09%
Other
64.91%
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Diversification
PVI
Total weight of top 15 holdings out of 15
33.32%
JMSI
Total weight of top 15 holdings out of 15
15.65%
Top 15 holdings
Data as of July 31, 2026
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%
US44244CN944
1.62%
US405815HE45
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%
JMSI
USA, Bills 0% 11aug2026, USD (119D)
2.45%
US64972GC444
1.69%
US25484JDJ60
1.19%
Texas Water Development Board, 4% 15oct2044, USD (2019A)
1.07%
US650860AZ26
1.05%
US64972GR970
1.03%
Peace River/Manasota Regional Water Supply Authority, 5.25% 1oct2045, USD (2025A)
0.98%
US71783DDS18
0.87%
US161045RK79
0.85%
US13013JHG40
0.79%
US928103BH24
0.78%
US89602HHW07
0.75%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.74%
US5920983E56
0.72%
City of El Paso, 5% 1mar2041, USD (2026)
0.69%
Frequently asked questions about PVI and JMSI
How have the PVI and JMSI ETFs performed in 2026?
As of September 2, 2026, PVI is up 1.24% year-to-date (YTD), while JMSI has lost -0.46%. That puts PVI better performer ahead so far this year.
Which ETF is attracting more investor money: PVI or JMSI?
Year-to-date, the PVI ETF saw -$3K in flows, compared to +$53M for JMSI.
Which ETF is more volatile: PVI or JMSI?
Over the past year, PVI had a volatility of 0.15%, while JMSI experienced 2.36%.
Which ETF is bigger: PVI or JMSI?
As of September 2, 2026, PVI holds $31.03 M in assets under management (AUM), while JMSI manages $386.32 M.
What sectors do the PVI and JMSI ETFs invest in?
PVI leans toward sectors like Municipal. Meanwhile, JMSI focuses on Municipal.
What are the top holdings of the PVI ETF and JMSI ETF?
PVI top holdings include US64972GAS30, US64966TAF12 and Texas, FRN 1jun2046, USD (2015B). JMSI holds in its top three: USA, Bills 0% 11aug2026, USD (119D), US64972GC444 and US25484JDJ60.
Which ETF is more diversified: PVI or JMSI?
PVI holds 147 securities with 33.32% of its assets in the top 15. JMSI has 298 securities and a top 15 weight of 15.65%.
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