PMIO ETF — Holdings & Analysis

A notable aspect of PMIO is its relatively low expense ratio of 0.25%, which could make it an attractive option for cost-conscious investors seeking exposure to the municipal bond market. However, a significant portion of its assets are held in cash and other investments.

PGIM Municipal Income Opportunities ETF (PMIO) ETF — Price, Holdings & Analysis

The PGIM Municipal Income Opportunities ETF (PMIO) is a fixed-income ETF managed by PGIM, with $0.04 billion in assets under management. Launched in June 2024, PMIO seeks total return through a combination of current income and capital appreciation. A notable aspect of PMIO is its relatively low expense ratio of 0.25%, which could make it an attractive option for cost-conscious investors seeking exposure to the municipal bond market. However, a significant portion of its assets are held in cash and other investments.

ETF Overview

The Fund seeks total return through a combination of current income and capital appreciation.

The PGIM Municipal Income Opportunities ETF (PMIO) aims to generate total return, focusing on both current income and capital appreciation within the fixed income space. Unlike many municipal bond ETFs that invest directly in a diversified portfolio of municipal bonds, PMIO's strategy appears to involve a significant allocation to cash and other investments, representing 97.3% of its sector allocation. The fund also has exposure to financial services, representing 2.7% of its sector allocation. A key holding is the iShares National Muni Bond ETF (MUB), comprising 2.47% of PMIO's portfolio. The fund's country exposure is primarily to 'Other' at 97.6%, with a smaller allocation of 2.4% to the United States. Investors should carefully consider the implications of this unique asset allocation when evaluating PMIO.

Risk Metrics

PMIO carries several risks that investors may want to research. The fund's concentration in 'Cash & Others' (97.3% of sector allocation) introduces a unique risk profile, potentially limiting its exposure to the municipal bond market and its associated income streams. The fund's beta is 0.00, indicating very low volatility relative to the market, but this also reflects its large cash position. The expense ratio of 0.25% will create a drag on performance, although it is relatively low. The fund's small AUM of $0.04 billion could pose liquidity risks. Investors should carefully evaluate these factors in light of their own risk tolerance and investment objectives. Past performance does not guarantee future results.

Expense Ratio

0.25%

What does PMIO hold?

Holding	Weight
iShares National Muni Bond ETF (MUB)	2.47%

How Is the Fund Allocated?

Sector	Weight
Cash & Others	97.3%
Financial Services	2.7%

Country	Weight
Other	97.6%
United States	2.4%

Dividend Yield

0.00%

JPMorgan International Bond Opportunities ETF (JPIB) — 0.50% expense ratio
IDX Dynamic Fixed Income ETF (DYFI) — 1.12% expense ratio
Invesco Taxable Municipal Bond ETF (BAB) — 0.28% expense ratio
Academy Veteran Impact ETF (VETZ) — 0.35% expense ratio
iShares MBS ETF (MBB) — 0.04% expense ratio
iShares iBonds Oct 2027 Term TIPS ETF (IBID) — 0.10% expense ratio
Bluemonte Long Term Bond ETF (BLTD) — 0.23% expense ratio
JPMorgan Mortgage-Backed Securities ETF (JMTG) — 0.24% expense ratio

PGIM Jennison Focused Growth ETF (PJFG) (Equity) — 0.75% expense ratio
PGIM Ultra Short Municipal Bond ETF (PUSH) (Fixed Income) — 0.15% expense ratio
PGIM Corporate Bond 5-10 Year ETF (PCI) (Fixed Income) — 0.25% expense ratio

Risk Metrics

Beta: 0.00

Questions & Answers

What is PMIO and what does it track?

The PGIM Municipal Income Opportunities ETF (PMIO) is a fixed-income ETF managed by PGIM. Launched in June 2024, PMIO aims to provide total return through a combination of current income and capital appreciation.

However, it does not track a specific index.

What is the expense ratio for PMIO?

The expense ratio for the PGIM Municipal Income Opportunities ETF (PMIO) is 0.25%. This means that for every $10,000 invested in the fund, investors will pay $25 in annual fees to cover the fund's operating expenses.

What are the top holdings in PMIO?

As of 2026-03-15, the top holding in the PGIM Municipal Income Opportunities ETF (PMIO) is the iShares National Muni Bond ETF (MUB), with a weight of 2.47%.

Given the fund's sector allocation, the remaining assets are primarily held in Cash & Others (97.3%), and Financial Services (2.7%). Investors should note the relatively small allocation to individual holdings, with the majority of the fund's assets held in cash or similar instruments.

Is PMIO a good long-term investment?

Whether PMIO is a suitable long-term investment depends on an investor's individual circumstances and investment objectives.

The fund's strategy of holding a large portion of its assets in cash may provide stability but could also limit its potential for capital appreciation.

How does PMIO compare to similar ETFs?

PMIO distinguishes itself from many municipal bond ETFs through its significant allocation to cash and other investments. While many similar ETFs focus on direct investment in a diversified portfolio of municipal bonds, PMIO's strategy involves a larger cash position.

The fund's AUM is relatively small at $0.04 billion. Its expense ratio of 0.25% is competitive.

Does PMIO pay dividends?

According to the provided data, the PGIM Municipal Income Opportunities ETF (PMIO) currently has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any income to its shareholders in the form of dividends.

Investors seeking current income from their investments may want to consider other fixed-income ETFs with a higher dividend yield.