MINO vs PVI
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund vs Invesco Floating Rate Municipal Income ETF
Which is better, MINO or PVI?
Each has led over a different period.
PVI has a lower expense ratio. MINO 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 | MINO | PVI |
|---|---|---|
| Expense Ratio | 0.39% | 0.25%Best |
| AUM | $850M | $34M |
| Dividend Yield | 4.17% | 2.21% |
| Holdings | 1,083 | 307 |
| YTD Return | -2.95% | +1.76%Best |
| 1Y Return | -2.10% | +2.28%Best |
| 3Y Return (annualized) | +3.99%Best | +2.60% |
| 5Y Return (annualized) | +0.59% | +2.11%Best |
| Volatility (annualized) | 6.8% | 0.7%Best |
| Max Drawdown | -15.2% | -1.2%Best |
| $10,000 over 5 years | $10,299 | $11,100Best |
| Fund Family | PIMCO (US) | Invesco (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 8, 2021 | Nov 15, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2021 to Oct 14, 2026 (5.1 years).
MINO 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 5.1 years both funds cover.
MINO vs PVI Performance
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is an ETF from PIMCO (US) and Invesco Floating Rate Municipal Income ETF (PVI) is an ETF from Invesco (US). Over the past year MINO returned -2.10% while PVI returned +2.28%. Year to date, MINO is down 2.95% versus a gain of 1.76% for PVI.
Over three years, MINO compounded at +3.99% per year against +2.60% for PVI; over five years the annualized figures are +0.59% and +2.11% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MINO has been the more volatile fund, with annualized monthly volatility of 6.8% compared with 0.7% 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 -15.2% for MINO and -1.2% 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 -0.06. They move largely independently of each other.
Fees and Cost Over Time
MINO charges 0.39% per year while PVI charges 0.25%. On a $10,000 position that is $39 vs $25 annually, a gap of $14 per year that compounds over a long holding period. On income, MINO currently yields 4.17% against 2.21% for PVI.
Holdings Overlap
We hold position weights for 226 holdings in MINO and 66 in PVI, totalling 33.7% and 53.8% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 2 positions appear in both.
2 positions in common, counted across the 226 positions we hold weights for in MINO and 66 in PVI, against full books of 1,083 and 307.
Top Shared Holdings
| Stock | Weight in MINO | Weight in PVI | Difference |
|---|---|---|---|
| TX TAREDU 08/01/2050Tarrant Cnty Tex Cultural Ed Facs Fin Corp Hosprev Var 01-Aug-2050 | 0.39% | 1.08% | 0.69% |
| AZ AZSMED 02/01/2048Arizona Industrial Development Authority 0.98% 02/01/2048 | 0.40% | 0.37% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of MINO 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 is cheaper, MINO or PVI?
MINO has an expense ratio of 0.39% while PVI charges 0.25%. PVI is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, MINO or PVI?
Over the past year MINO returned -2.10% vs +2.28% for PVI, so PVI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MINO or PVI?
MINO has been the more volatile fund at 6.8% annualized versus 0.7% for PVI. Worst drawdown: MINO -15.2% vs PVI -1.2%.
Should I hold both MINO and PVI?
MINO and PVI have a monthly-return correlation of -0.06, 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, MINO or PVI?
MINO yields 4.17% while PVI yields 2.21%, so MINO currently pays the higher dividend yield.
Is PVI better than MINO?
PVI has a lower expense ratio. MINO 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.