STAXvsPVIETF Comparison
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Nomura Tax-Free USA Short Term ETF (STAX) and Invesco VRDO Tax-Free ETF (PVI) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. STAX is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.25% for PVI. STAX is up 1.23% year-to-date (YTD) with +$6M in YTD flows. PVI performs better with 1.24% YTD performance, and -$3K in YTD flows. Run a side-by-side ETF comparison of STAX and PVI 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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STAX vs PVI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | STAX PVI | +0.04%+0.16% | +0.11%+0.53% | +1.23%+1.24% | +2.08%+2.08% | n/a+7.54% | n/a+10.16% |
| Flows | STAX PVI | -$2M- | +$5M+$1M | +$6M-$3K | +$6M-$3K | --$9M | --$17M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | STAX PVI | +1.06%+0.09% | +0.99%+0.15% | n/a+0.13% | n/a+0.14% |
| Max drawdown | STAX PVI | -0.63%n/a | -1.05%n/a | n/an/a | n/a-0.09% |
| Max drawdown duration | STAX PVI | 57dn/a | 106dn/a | n/an/a | n/a294d |
Trading data
STAX | PVI | |
Last sale 9/2/2026 at 1:30 PM | $25.17 | $24.87 |
| Previous close 09/02/2026 | $25.17 | $24.84 |
| 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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STAX
is actively managed and doesn’t replicate an indexSTAX | PVI | |
|---|---|---|
| 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
STAX | PVI | |
|---|---|---|
| Last price | $25.17 | $24.87 |
| 1D performance | +0.00% | +0.12% |
| AuM | $11.34 M | $31.03 M |
| E/R | 0.29% | 0.25% |
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Exposure
Countries
STAX
USA
37.04%
Other
62.96%
PVI
USA
37.26%
Other
62.74%
Sectors
STAX
Municipal
37.04%
Other
62.96%
PVI
Municipal
37.26%
Other
62.74%
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Diversification
STAX
Total weight of top 15 holdings out of 15
26.01%
PVI
Total weight of top 15 holdings out of 15
33.32%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about STAX and PVI
How have the STAX and PVI ETFs performed in 2026?
As of September 2, 2026, STAX is up 1.23% year-to-date (YTD), while PVI has returned 1.24%. That puts PVI better performer ahead so far this year.
Which ETF is attracting more investor money: STAX or PVI?
Year-to-date, the STAX ETF saw +$6M in flows, compared to -$3K for PVI.
Which ETF is more volatile: STAX or PVI?
Over the past year, STAX had a volatility of 0.99%, while PVI experienced 0.15%.
Which ETF is bigger: STAX or PVI?
As of September 2, 2026, STAX holds $11.34 M in assets under management (AUM), while PVI manages $31.03 M.
What sectors do the STAX and PVI ETFs invest in?
STAX leans toward sectors like Municipal. Meanwhile, PVI focuses on Municipal.
What are the top holdings of the STAX ETF and PVI ETF?
STAX top holdings include Chicago, 5% 1nov2026, USD (2004), US68608JXF38 and US650116FF84. PVI holds in its top three: US64972GAS30, US64966TAF12 and Texas, FRN 1jun2046, USD (2015B).
Which ETF is more diversified: STAX or PVI?
STAX holds 92 securities with 26.01% of its assets in the top 15. PVI has 147 securities and a top 15 weight of 33.32%.
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