MUST vs PVI
Columbia Multi-Sector Municipal Income ETF vs Invesco Floating Rate Municipal Income ETF
Which is better, MUST or PVI?
Each has led over a different period.
MUST has a lower expense ratio. MUST led over 3Y and the full window, PVI over 1Y and 5Y.
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 | MUST | PVI |
|---|---|---|
| Expense Ratio | 0.23%Best | 0.25% |
| AUM | $509M | $34M |
| Dividend Yield | 3.59% | 2.21% |
| Holdings | 1,292 | 307 |
| YTD Return | -4.34% | +1.76%Best |
| 1Y Return | -2.87% | +2.28%Best |
| 3Y Return (annualized) | +2.83%Best | +2.60% |
| 5Y Return (annualized) | -0.37% | +2.11%Best |
| Volatility (annualized) | 6.2% | 0.7%Best |
| Max Drawdown | -13.8% | -1.2%Best |
| $10,000 over 5 years | $9,816 | $11,100Best |
| Fund Family | Columbia Threadneedle Investments | Invesco (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Oct 10, 2018 | Nov 15, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 10, 2018 to Oct 14, 2026 (8 years).
MUST 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 8 years both funds cover.
MUST vs PVI Performance
Columbia Multi-Sector Municipal Income ETF (MUST) is an ETF from Columbia Threadneedle Investments and Invesco Floating Rate Municipal Income ETF (PVI) is an ETF from Invesco (US). Over the past year MUST returned -2.87% while PVI returned +2.28%. Year to date, MUST is down 4.34% versus a gain of 1.76% for PVI.
Over three years, MUST compounded at +2.83% per year against +2.60% for PVI; over five years the annualized figures are -0.37% and +2.11% respectively. Across the full 8-year window we track, MUST has the edge at +1.36% annualized vs +1.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUST has been the more volatile fund, with annualized monthly volatility of 6.2% 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 -13.8% for MUST 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 -0.19. They move largely independently of each other.
Fees and Cost Over Time
MUST charges 0.23% per year while PVI charges 0.25%. On a $10,000 position that is $23 vs $25 annually, a gap of $2 per year that compounds over a long holding period. On income, MUST currently yields 3.59% against 2.21% for PVI.
Holdings Overlap
We hold position weights for 356 holdings in MUST and 66 in PVI, totalling 52.2% and 53.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 356 positions we hold weights for in MUST and 66 in PVI, against full books of 1,292 and 307.
You are not choosing between two funds in isolation.
Whichever of MUST 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, MUST or PVI?
MUST has an expense ratio of 0.23% while PVI charges 0.25%. MUST is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, MUST or PVI?
Over the past year MUST returned -2.87% vs +2.28% for PVI, so PVI leads on 1-year performance. Over the longest common window we track (8 years), MUST annualized +1.36% vs +1.30% for PVI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MUST or PVI?
MUST has been the more volatile fund at 6.2% annualized versus 0.7% for PVI. Worst drawdown: MUST -13.8% vs PVI -1.2%.
Should I hold both MUST and PVI?
MUST and PVI have a monthly-return correlation of -0.19, 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, MUST or PVI?
MUST yields 3.59% while PVI yields 2.21%, so MUST currently pays the higher dividend yield.
Is PVI better than MUST?
MUST has a lower expense ratio. MUST led over 3Y and the full window, PVI over 1Y and 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.