PVIvsSTAXETF Comparison
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Invesco VRDO Tax-Free ETF (PVI) and Nomura Tax-Free USA Short Term ETF (STAX) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. PVI is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.29% for STAX. PVI is up 1.24% year-to-date (YTD) with -$3K in YTD flows. STAX performs worse with 1.23% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of PVI and STAX 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 STAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PVI STAX | +0.15%+0.04% | +0.53%+0.15% | +1.24%+1.23% | +2.08%+2.08% | +7.54%n/a | +10.15%n/a |
| Flows | PVI STAX | --$2M | +$1M+$5M | -$3K+$6M | -$3K+$6M | -$9M- | -$17M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PVI STAX | +0.09%+1.07% | +0.15%+0.99% | +0.13%n/a | +0.14%n/a |
| Max drawdown | PVI STAX | n/a-0.63% | n/a-1.05% | n/an/a | -0.09%n/a |
| Max drawdown duration | PVI STAX | n/a56d | n/a106d | n/an/a | 295dn/a |
Trading data
PVI | STAX | |
Last sale 9/1/2026 at 1:30 PM | $24.84 | $25.17 |
| Previous close 09/01/2026 | $24.92 | $25.21 |
| 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
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STAX
is actively managed and doesn’t replicate an indexPVI | STAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
PVI | STAX | |
|---|---|---|
| Last price | $24.84 | $25.17 |
| 1D performance | -0.32% | -0.14% |
| AuM | $31.03 M | $11.34 M |
| E/R | 0.25% | 0.29% |
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Exposure
Countries
PVI
USA
37.26%
Other
62.74%
STAX
USA
37.04%
Other
62.96%
Sectors
PVI
Municipal
37.26%
Other
62.74%
STAX
Municipal
37.04%
Other
62.96%
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Diversification
PVI
Total weight of top 15 holdings out of 15
33.32%
STAX
Total weight of top 15 holdings out of 15
26.01%
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%
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%
STAX
Chicago, 5% 1nov2026, USD (2004)
2.43%
US68608JXF38
2.27%
US650116FF84
2.05%
US4521525L18
1.98%
US85236DAK46
1.82%
US882724JZ14
1.66%
US48504NCT46
1.60%
New Jersey, 5% 1jun2029, USD
1.60%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2029, USD (2018A)
1.56%
New York Transportation Development Corp., 5% 1jan2028, USD (2018)
1.55%
US472682YZ07
1.53%
US54877EAC03
1.50%
US73358XNJ71
1.49%
US60374VEX73
1.49%
New York Metropolitan Transportation Authority, 5% 15nov2030, USD (2017D)
1.48%
Frequently asked questions about PVI and STAX
How have the PVI and STAX ETFs performed in 2026?
As of September 1, 2026, PVI is up 1.24% year-to-date (YTD), while STAX has returned 1.23%. That puts PVI better performer ahead so far this year.
Which ETF is attracting more investor money: PVI or STAX?
Year-to-date, the PVI ETF saw -$3K in flows, compared to +$6M for STAX.
Which ETF is more volatile: PVI or STAX?
Over the past year, PVI had a volatility of 0.15%, while STAX experienced 0.99%.
Which ETF is bigger: PVI or STAX?
As of September 1, 2026, PVI holds $31.03 M in assets under management (AUM), while STAX manages $11.34 M.
What sectors do the PVI and STAX ETFs invest in?
PVI leans toward sectors like Municipal. Meanwhile, STAX focuses on Municipal.
What are the top holdings of the PVI ETF and STAX ETF?
PVI top holdings include US64972GAS30, US64966TAF12 and Texas, FRN 1jun2046, USD (2015B). STAX holds in its top three: Chicago, 5% 1nov2026, USD (2004), US68608JXF38 and US650116FF84.
Which ETF is more diversified: PVI or STAX?
PVI holds 147 securities with 33.32% of its assets in the top 15. STAX has 92 securities and a top 15 weight of 26.01%.
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