FLMB vs PVI
Franklin Municipal Green Bond ETF vs Invesco Floating Rate Municipal Income ETF
Which is better, FLMB or PVI?
Each has led over a different period.
PVI has a lower expense ratio. FLMB 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 | FLMB | PVI |
|---|---|---|
| Expense Ratio | 0.30% | 0.25%Best |
| AUM | $53M | $31M |
| Dividend Yield | 4.14% | 2.22% |
| Holdings | 77 | 307 |
| YTD Return | -5.00% | +1.76%Best |
| 1Y Return | -4.08% | +2.28%Best |
| 3Y Return (annualized) | +3.04%Best | +2.53% |
| 5Y Return (annualized) | -0.68% | +2.12%Best |
| Volatility (annualized) | 6.9% | 0.6%Best |
| Max Drawdown | -17.9% | -1.2%Best |
| $10,000 over 5 years | $9,665 | $11,106Best |
| Fund Family | Franklin Templeton Investments (US) | Invesco (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Aug 31, 2017 | Nov 15, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 5, 2017 to Oct 12, 2026 (9.1 years).
FLMB 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 9.1 years both funds cover.
FLMB vs PVI Performance
Franklin Municipal Green Bond ETF (FLMB) is an ETF from Franklin Templeton Investments (US) and Invesco Floating Rate Municipal Income ETF (PVI) is an ETF from Invesco (US). Over the past year FLMB returned -4.08% while PVI returned +2.28%. Year to date, FLMB is down 5.00% versus a gain of 1.76% for PVI.
Over three years, FLMB compounded at +3.04% per year against +2.53% for PVI; over five years the annualized figures are -0.68% and +2.12% respectively. Across the full 9-year window we track, PVI has the edge at +1.14% annualized vs +0.58%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLMB has been the more volatile fund, with annualized monthly volatility of 6.9% 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 -17.9% for FLMB 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 -0.15. They move largely independently of each other.
Fees and Cost Over Time
FLMB charges 0.30% per year while PVI charges 0.25%. On a $10,000 position that is $30 vs $25 annually, a gap of $5 per year that compounds over a long holding period. On income, FLMB currently yields 4.14% against 2.22% for PVI.
Holdings Overlap
We hold position weights for 22 holdings in FLMB and 67 in PVI, totalling 40.5% and 56.4% 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 22 positions we hold weights for in FLMB and 67 in PVI, against full books of 77 and 307.
You are not choosing between two funds in isolation.
Whichever of FLMB 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, FLMB or PVI?
FLMB has an expense ratio of 0.30% while PVI charges 0.25%. PVI is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, FLMB or PVI?
Over the past year FLMB returned -4.08% vs +2.28% for PVI, so PVI leads on 1-year performance. Over the longest common window we track (9 years), FLMB annualized +0.58% vs +1.14% for PVI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLMB or PVI?
FLMB has been the more volatile fund at 6.9% annualized versus 0.6% for PVI. Worst drawdown: FLMB -17.9% vs PVI -1.2%.
Should I hold both FLMB and PVI?
FLMB and PVI have a monthly-return correlation of -0.15, 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, FLMB or PVI?
FLMB yields 4.14% while PVI yields 2.22%, so FLMB currently pays the higher dividend yield.
Is PVI better than FLMB?
PVI has a lower expense ratio. FLMB 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.