- Issuer
- PGIM
- Inception Date
- Jun 14, 2024
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $50M
Highlights
- Avg. Volume (1M)
- 2K
- Avg. Volume Value (1M)
- $113.78K
Share Price Chart
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Performance
PMIO Performance Chart
PGIM Municipal Income Opportunities ETF (PMIO) is up 0.7% since the beginning of the year. PMIO is currently trading at $50 per share.
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Returns By Period
PGIM Municipal Income Opportunities ETF (PMIO) has returned 0.66% so far this year and 4.62% over the past 12 months.
PGIM Municipal Income Opportunities ETF
- 1D
- -0.09%
- 1M
- -1.50%
- 6M
- -0.12%
- YTD
- 0.66%
- 1Y
- 4.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.01%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PMIO Monthly Returns History
Based on dividend-adjusted daily data since Jun 28, 2024, PMIO's average daily return is +0.02%, while the average monthly return is +0.32%. At this rate, an investment would double in approximately 18.1 years.
Historically, 69% of months were positive and 31% were negative. The best month was Sep 2025 with a return of +2.1%, while the worst month was Mar 2026 at -2.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 2 months.
On a daily basis, PMIO closed higher 58% of trading days. The best single day was Apr 14, 2025 with a return of +0.8%, while the worst single day was Apr 7, 2025 at -1.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.78% | 1.23% | -1.98% | 0.81% | 0.67% | 0.65% | -1.45% | 0.66% | |||||
| 2025 | 0.61% | 1.15% | -1.28% | -0.37% | 0.24% | 0.93% | -0.49% | 0.98% | 2.12% | 0.86% | 0.35% | 0.11% | 5.30% |
| 2024 | 0.00% | 1.23% | 0.92% | 0.76% | -0.74% | 1.42% | -1.18% | 2.41% |
Benchmark Metrics
PGIM Municipal Income Opportunities ETF has an annualized alpha of 3.85%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 28, 2024.
- This ETF participated in 21.98% of S&P 500 Index downside but only 20.42% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.85%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 20.42%
- Downside Capture
- 21.98%
Expense Ratio
PMIO has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
PMIO ranks 81 for risk / return — above 81% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for PGIM Municipal Income Opportunities ETF (PMIO) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PMIO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.25 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.00 | +0.33 |
| Martin ratioReturn relative to average drawdown | 7.32 | 8.49 | -1.17 |
Dividends
Dividend History
PGIM Municipal Income Opportunities ETF provided a 3.94% dividend yield over the last twelve months, with an annual payout of $1.98 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.98 | $2.04 | $1.06 |
Dividend yield | 3.94% | 4.00% | 2.11% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM Municipal Income Opportunities ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.17 | $0.32 | $0.17 | $0.16 | $0.16 | $0.16 | $1.15 | |||||
| 2025 | $0.00 | $0.17 | $0.17 | $0.17 | $0.17 | $0.18 | $0.17 | $0.18 | $0.18 | $0.17 | $0.17 | $0.30 | $2.04 |
| 2024 | $0.22 | $0.15 | $0.17 | $0.18 | $0.35 | $1.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM Municipal Income Opportunities ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PGIM Municipal Income Opportunities ETF was 3.39%, occurring on Apr 11, 2025. Recovery took 98 trading sessions.
The current PGIM Municipal Income Opportunities ETF drawdown is 1.60%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-3.39%Apr 2025 | 1mo 13d | 4mo 25d | 6mo 8dFeb 2025 - Sep 2025 | 2025 selloff2025 |
-2.24%Mar 2026 | 25d | 3mo | 3mo 25dMar 2026 - Jun 2026 | — |
-2.15%Jan 2025 | 1mo 6d | 1mo 8d | 2mo 14dDec 2024 - Feb 2025 | — |
-1.60%Jul 2026 | 24d | — | 26dJul 2026 - now | — |
-1.46%Nov 2024 | 1mo 3d | 19d | 1mo 22dOct 2024 - Nov 2024 | — |
Drawdown Indicators
| PMIO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.39% | -56.78% | +53.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -9.10% | +6.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.60% | -1.58% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -10.70% | +10.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 2.14% | -1.43% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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