KTF vs PVI
DWS Municipal Income Trust vs Invesco Floating Rate Municipal Income ETF
Which is better, KTF or PVI?
Each has led over a different period.
KTF led over 3Y, PVI over 1Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | KTF | PVI |
|---|---|---|
| Expense Ratio | - | 0.25% |
| AUM | $321M | $34M |
| Dividend Yield | 9.36% | 2.21% |
| Holdings | 232 | 307 |
| YTD Return | -6.11% | +1.76%Best |
| 1Y Return | -5.53% | +2.28%Best |
| 3Y Return (annualized) | +9.12%Best | +2.60% |
| 5Y Return (annualized) | -1.77% | +2.11%Best |
| Volatility (annualized) | 13.0% | 0.6%Best |
| Max Drawdown | -47.0% | -4.8%Best |
| $10,000 over 5 years | $9,146 | $11,100Best |
| Fund Family | DWS | Invesco (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Oct 20, 1988 | Nov 15, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2007 to Oct 14, 2026 (18.9 years).
KTF vs PVI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.9 years both funds cover.
KTF vs PVI Performance
DWS Municipal Income Trust (KTF) is an ETF from DWS and Invesco Floating Rate Municipal Income ETF (PVI) is an ETF from Invesco (US). Over the past year KTF returned -5.53% while PVI returned +2.28%. Year to date, KTF is down 6.11% versus a gain of 1.76% for PVI.
Over three years, KTF compounded at +9.12% per year against +2.60% for PVI; over five years the annualized figures are -1.77% and +2.11% respectively. Across the full 19-year window we track, PVI has the edge at +0.52% annualized vs +0.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KTF has been the more volatile fund, with annualized monthly volatility of 13.0% compared with 0.6% for PVI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -47.0% for KTF and -4.8% for PVI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.00. They move largely independently of each other.
Holdings Overlap
We hold position weights for 105 holdings in KTF and 66 in PVI, totalling 40.7% and 53.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 65 days apart, KTF as of Jul 31, 2026 and PVI as of Oct 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 105 positions we hold weights for in KTF and 66 in PVI, against full books of 232 and 307.
You are not choosing between two funds in isolation.
Whichever of KTF and PVI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which performed better, KTF or PVI?
Over the past year KTF returned -5.53% vs +2.28% for PVI, so PVI leads on 1-year performance. Over the longest common window we track (19 years), KTF annualized +0.49% vs +0.52% for PVI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KTF or PVI?
KTF has been the more volatile fund at 13.0% annualized versus 0.6% for PVI. Worst drawdown: KTF -47.0% vs PVI -4.8%.
Should I hold both KTF and PVI?
KTF and PVI have a monthly-return correlation of 0.00, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, KTF or PVI?
KTF yields 9.36% while PVI yields 2.21%, so KTF currently pays the higher dividend yield.
Is PVI better than KTF?
KTF led over 3Y, PVI over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.