Invesco Floating Rate Municipal Income ETF (PVI) Fund Overview
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For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 18, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerInvesco Floating Rate Municipal Income ETF (PVI) trades at $24.88. The Invesco Floating Rate Municipal Income ETF (PVI) invests primarily in U.S. dollar tax-exempt variable rate demand obligations (VRDOs). Sector: Financials.
Price as of · Last analyzed: Mar 18, 2026Analyst Coverage for PVI: PVI does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage.
Invesco Floating Rate Municipal Income ETF (PVI) Financial Services Profile
Invesco Floating Rate Municipal Income ETF (PVI) offers exposure to the U.S. municipal VRDO market, focusing on tax-exempt, variable-rate securities. The fund utilizes a sampling strategy to mirror the ICE US Municipal AMT-Free VRDO Constrained Index, providing investors with potential income and diversification within the fixed-income landscape.
What Is the Investment Thesis for PVI?
PVI offers targeted exposure to the municipal VRDO market, providing potential tax-exempt income. With a market capitalization of $0.03 billion and a beta of -0.00, PVI exhibits low volatility relative to the broader market. The fund's strategy of tracking the ICE US Municipal AMT-Free VRDO Constrained Index through a sampling methodology aims to deliver returns that closely mirror the index's performance. A key value driver is the fund's ability to provide tax-advantaged income to investors, particularly those in higher tax brackets. Upcoming catalysts include potential shifts in interest rate policy, which could impact the yield and attractiveness of VRDOs. However, potential risks include changes in tax laws that could affect the tax-exempt status of municipal bonds and increased competition from other fixed-income ETFs.
Based on FMP financials and quantitative analysis
PVI Key Highlights
PVI's investment strategy focuses on U.S. dollar tax-exempt variable rate demand obligations (VRDOs).
- The fund aims to replicate the ICE US Municipal AMT-Free VRDO Constrained Index using a sampling methodology.
- PVI rebalances its portfolio on the last calendar day of each month.
- The fund's name changed from Invesco VRDO Tax-Free ETF to Invesco Floating Rate Municipal Income ETF on August 25, 2023.
- PVI has a market capitalization of $0.03 billion.
Who Are PVI's Competitors?
PVI is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| AIBU Direxion Daily AI and Big Data Bull 2X ETF | $75.15 | +0.99% | $30.1M | — |
| FSGS First Trust SMID Growth Strength ETF | $32.08 | -0.04% | $30.5M | — |
| IDX VanEck Indonesia Index ETF | $10.61 | +0.95% | $34.5M | — |
| IIGD Invesco Investment Grade Defensive ETF | $23.80 | -0.15% | $26.4M | — |
| INRO iShares U.S. Industry Rotation Active ETF | $37.18 | +0.88% | $36.0M | — |
| BLK BlackRock, Inc. | $1059.63 | -0.44% | $164B | 51 5-pillar |
| BX Blackstone Inc. | $112.52 | +0.69% | $136B | 68 5-pillar |
| APOS Apollo Global Management, Inc. | $25.59 | -0.23% | $74.8B | 56 5-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PVI's Key Strengths?
Focus on tax-exempt VRDOs provides a niche offering.
- Low expense ratio enhances competitiveness.
- Established brand name of Invesco.
- Tracks a well-defined index.
What Are PVI's Weaknesses?
Small market capitalization limits liquidity.
- Vulnerable to changes in interest rates and tax laws.
- Sampling methodology may not perfectly replicate the index.
- Lack of dividend may deter some investors.
What Are the Key Risks for PVI?
Changes in tax laws could reduce the attractiveness of municipal bonds.
- Increased competition from other fixed-income ETFs.
- Economic downturn could negatively impact municipal bond issuers.
- Interest rate risk, as rising rates could decrease the value of existing VRDO holdings.
What Are PVI's Competitive Advantages?
- Established brand name and reputation of Invesco.
- Low expense ratio compared to actively managed municipal bond funds.
- Access to Invesco's distribution network and resources.
What Does PVI Do?
The Invesco Floating Rate Municipal Income ETF (PVI), formerly known as Invesco VRDO Tax-Free ETF, is designed to track the performance of the U.S. dollar tax-exempt variable rate demand obligation (VRDO) market. Launched by Invesco, a global investment management firm, the fund provides investors with a convenient way to access a portfolio of municipal VRDOs, which are debt securities issued by U.S. states, territories, and their political subdivisions. These VRDOs have interest rates that reset daily, weekly, or monthly, making them sensitive to changes in short-term interest rates. PVI aims to replicate the ICE US Municipal AMT-Free VRDO Constrained Index, which serves as its benchmark. However, instead of purchasing all the securities in the index, the fund employs a sampling methodology, selecting a representative subset of VRDOs to achieve its investment objective. This approach allows the fund to closely track the index's performance while potentially reducing transaction costs. The fund rebalances its portfolio on the last calendar day of each month to maintain its alignment with the index. PVI's focus on tax-exempt VRDOs makes it a noteworthy option for investors seeking to generate income that is exempt from federal income taxes.
What Products and Services Does PVI Offer?
- Invests primarily in U.S. dollar tax-exempt variable rate demand obligations (VRDOs).
- Tracks the performance of the ICE US Municipal AMT-Free VRDO Constrained Index.
- Utilizes a sampling methodology to replicate the index.
- Rebalances its portfolio on the last calendar day of each month.
- Provides investors with exposure to the municipal VRDO market.
- Offers tax-exempt income potential.
How Does PVI Make Money?
- Generates revenue through management fees charged on assets under management (AUM).
- Aims to provide investors with returns that closely track the ICE US Municipal AMT-Free VRDO Constrained Index.
- Offers a cost-effective way to access the municipal VRDO market.
What Industry Does PVI Operate In?
The asset management industry is characterized by intense competition and evolving investor preferences. ETFs like PVI offer investors a cost-effective and transparent way to access specific market segments, such as municipal VRDOs. The municipal bond market, in general, is sensitive to interest rate changes and tax policy developments. PVI competes with other fixed-income ETFs and mutual funds that target the municipal bond market. The fund's focus on VRDOs differentiates it from broader municipal bond funds, potentially attracting investors seeking exposure to floating-rate securities.
Who Are PVI's Key Customers?
- Individual investors seeking tax-exempt income.
- Financial advisors looking for fixed-income solutions for their clients.
- Institutional investors seeking exposure to the municipal VRDO market.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price is current
- ● No filing on record
- ● No analyst coverage
- ● This is an etf, not an operating company
PVI Financials
Bull Case vs Bear Case
Bull Case
- Focus on tax-exempt VRDOs provides a niche offering.
- Low expense ratio enhances competitiveness.
- Established brand name of Invesco.
- Tracks a well-defined index.
Bear Case
- Small market capitalization limits liquidity.
- Vulnerable to changes in interest rates and tax laws.
- Sampling methodology may not perfectly replicate the index.
- Lack of dividend may deter some investors.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
PVI Latest News
No recent news available for PVI.
PVI Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for PVI.
Price Targets
Wall Street price target analysis for PVI.
PVI MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for PVI; grades run from A+ (80-100) to F (below 30).
What Investors Ask About Invesco Floating Rate Municipal Income ETF (PVI) — Financials
What are the main risks for PVI?
The main risks for PVI include interest rate risk, credit risk, and tax risk. Interest rate risk arises from the fact that VRDOs, while having variable rates, can still be affected by changes in the overall interest rate environment. Credit risk refers to the possibility that municipal bond issuers may default on their debt obligations.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
MoonshotScore is not published for this security.
Data provided for informational purposes only.
- The information provided is based on available data and may be subject to change.