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Private Wealth Daily
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PVIInvescoINDEX

Invesco VRDO Tax-Free ETF

$24.86-0.13% vs prior close
252552-WK

Price through Oct 22, 2026 · Flows through Oct 21, 2026. Figures use the latest available records, not a live quote. Fund details retrieved Oct 22, 2026. Holdings snapshot retrieved Oct 22, 2026.

The fund generally invests at least 80% of its total assets in the components of the underlying index. The underlying index tracks the performance of U.S. dollar denominated tax-exempt variable rate demand obligations that are publicly issued by U.S. states and territories, and their political subdivisions, and that have interest rates that reset daily, weekly or monthly.

PVI price

Source: Market tape, daily closes; price return, distributions not reinvested
Table
DatePVI close
Jul 22, 2026$24.80
Jul 23, 2026$24.80
Jul 24, 2026$24.76
Jul 27, 2026$24.76
Jul 28, 2026$24.79
Jul 29, 2026$24.82
Jul 30, 2026$24.84
Jul 31, 2026$24.83
Aug 3, 2026$24.81
Aug 4, 2026$24.83
Aug 5, 2026$24.86
Aug 6, 2026$24.86
Aug 7, 2026$24.86
Aug 10, 2026$24.81
Aug 11, 2026$24.82
Aug 12, 2026$24.82
Aug 13, 2026$24.84
Aug 14, 2026$24.84
Aug 17, 2026$24.85
Aug 18, 2026$24.86
Aug 19, 2026$24.85
Aug 20, 2026$24.86
Aug 21, 2026$24.89
Aug 24, 2026$24.83
Aug 25, 2026$24.78
Aug 26, 2026$24.84
Aug 27, 2026$24.87
Aug 28, 2026$24.85
Aug 31, 2026$24.91
Sep 1, 2026$24.84
Sep 2, 2026$24.87
Sep 3, 2026$24.84
Sep 4, 2026$24.81
Sep 8, 2026$24.86
Sep 9, 2026$24.83
Sep 10, 2026$24.86
Sep 11, 2026$24.91
Sep 14, 2026$24.84
Sep 15, 2026$24.84
Sep 16, 2026$24.85
Sep 17, 2026$24.86
Sep 18, 2026$24.89
Sep 21, 2026$24.88
Sep 22, 2026$24.85
Sep 23, 2026$24.84
Sep 24, 2026$24.84
Sep 25, 2026$24.89
Sep 28, 2026$24.86
Sep 29, 2026$24.82
Sep 30, 2026$24.95
Oct 1, 2026$24.92
Oct 2, 2026$24.88
Oct 5, 2026$24.90
Oct 6, 2026$24.89
Oct 7, 2026$24.86
Oct 8, 2026$24.89
Oct 9, 2026$24.89
Oct 12, 2026$24.90
Oct 13, 2026$24.87
Oct 14, 2026$24.90
Oct 15, 2026$24.93
Oct 16, 2026$24.97
Oct 19, 2026$24.96
Oct 20, 2026$24.86
Oct 21, 2026$24.89
Oct 22, 2026$24.86

Weekly net flows, 3M

Net inflow over the range: +$3M

  • Inflow / above zero
  • Outflow / below zero
Jul 20−$1.3MJul 27Aug 3Aug 10Aug 17Aug 24Aug 31Sep 7Sep 14Sep 21Sep 28Oct 5Oct 12+$1.3MOct 19Jul 20−$1.3MAug 3Aug 17Aug 31Sep 14Sep 28+$1.3MOct 19Jul 20−$1.3MAug 17Sep 14+$1.3MOct 19
Source: Daily creation and redemption records
Show as table
LabelValue ($)
Jul 20$0
Jul 27−$1.3M
Aug 3$0
Aug 10$0
Aug 17$0
Aug 24$0
Aug 31$0
Sep 7$0
Sep 14$0
Sep 21$0
Sep 28$1.3M
Oct 5$1.3M
Oct 12$0
Oct 19$1.3M
The desk’s read

Money keeps arriving — +$4M of net inflows over the past month, about 10.8% of the fund's asset base, while the price has returned -0.3% so far this year. At 0.25% a year it is not the cheapest way in — AGG has a reported fee of 0.03%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$35Massets under management
0.25%expense ratio · $25 per $10,000 a year
+$4Mnet flow, trailing month
14Kavg daily volume, 30 days
34holdings · US-domiciled
2007listed November 15, 2007 · beta -0.00
The book at a glance
—4.0%—3.4%—2.6%—2.0%—2.0%—2.0%—1.9%—1.9%—1.7%—1.4%—1.4%—1.4%—1.4%—1.4%—1.4%—1.2%—1.2%—1.2%—1.2%—1.2%—1.1%—1.1%—1.0%—0.9%—0.9%—0.9%—0.9%—0.9%—0.9%—0.8%—0.8%—0.8%—0.8%—0.8%—0.7%—0.7%—0.7%—0.7%—0.7%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS THE CHANGE IN THE LATEST AVAILABLE SNAPSHOT · TOP 40 POSITIONS

Holdings
#HoldingWeightPriceDay52-wk
1—New York City Municipal Water Finance Authority3.95%———
2—New York City Housing Development Corp3.45%———
3—State of Texas2.62%———
4—Connecticut Housing Finance Authority2.03%———
5—Florida Keys Aqueduct Authority2.01%———
6—New York City Transitional Finance Authority Future Tax Secured Revenue2.01%———
7—Illinois Finance Authority1.93%———
8—City of New York NY1.87%———
9—Metropolitan Transportation Authority1.73%———
10—City of Houston TX Combined Utility System Revenue1.44%———
11—Board of Regents of the University of Texas System1.44%———
12—Halifax Hospital Medical Center1.44%———
13—City of West Palm Beach FL Utility System Revenue1.44%———
14—Bay Area Toll Authority1.44%———
15—City of New York NY1.38%———

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Sector weights

  • Cash & Others100%
  • Other100%
  • Revenue95.13%
  • Municipal94.75%
  • Cash5.25%
  • General obligation4.87%
Source: Portfolio composition, latest disclosure
Show as table
ItemValue (%)
Cash & Others100%
Other100%
Revenue95.13%
Municipal94.75%
Cash5.25%
General obligation4.87%
Performance
1 week-0.5%
1 month+0.0%
3 months+0.2%
6 months+0.5%
YTD-0.3%
1 year+0.2%
3 years—

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week+$1M
1 month+$4M
3 months+$3M
YTD+$4M
1 year+$4M

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows

  • Inflow / above zero
  • Outflow / below zero
$0Aug$0Sep$0Oct$0Feb$0Mar$0Apr−$1.3MMay+$3.8MJun−$2.5MJul$0Aug+$1.3MSep+$2.5MOct$0Aug$0Sep$0Oct$0Feb$0Mar$0Apr−$1.3MMay+$3.8MJun−$2.5MJul$0Aug+$1.3MSep+$2.5MOctAugOctMarMay+$3.8MJul+$2.5MOct
Source: Daily creation/redemption records, trailing twelve months
Show as table
LabelValue ($)
Aug$0
Sep$0
Oct$0
Feb$0
Mar$0
Apr$0
May−$1.3M
Jun$3.8M
Jul−$2.5M
Aug$0
Sep$1.3M
Oct$2.5M
The risk read
3%realized volatility, 30 days (annualized)
3%realized volatility, 1 year
-0.9%deepest fall from a peak, 1 year
-0.5%latest close versus that peak

The top holding is 4.0% of the book; the top ten carry 23%. Spread across 174+ names, it behaves like roughly 92 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

The case against PVI

Due diligence cuts both ways. These funds sit on the same shelf and beat PVI on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
STIP iShares 0-5 Year TIPS Bond ETF0.03%$16.4B+$489M-22bp on fee · 472× the assets · +$489M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$123.5B+$2.3B-20bp on fee · 3557× the assets · +$2.3B in over the monthHead-to-head
SPTS State Street SPDR Portfolio Short Term Treasury ETF0.03%$7.1B+$1.4B-22bp on fee · 205× the assets · +$1.4B in over the monthHead-to-head
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF0.04%$18.6B+$412M-21bp on fee · 535× the assets · +$412M in over the monthHead-to-head
MUB iShares National Muni Bond ETF0.05%$48B+$2B-20bp on fee · 1381× the assets · +$2B in over the monthHead-to-head
Sign in to save this to The RecordA timestamped copy for the file — documentation, not advice.
InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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