PGIM Municipal Income Opportunities ETF (PMIO) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PMIO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PMIO
PMIO charges 0.25% annually. There are 64 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | PMIO vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | PMIO vs VTEB | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 130.20M | Aug 2025 | PMIO vs TAXS | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | PMIO vs TAXT | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | PMIO vs FMUN |
Best Risk-Adjusted Alternatives to PMIO
PMIO has a PortfoliosLab risk / return rank of 81. There are 31 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | PMIO vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | PMIO vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | PMIO vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.47M | Nov 2018 | PMIO vs FUMB | |
| Goldman Sachs Ultra Short Municipal Income ETF | 97 | 54.13M | Jul 2024 | PMIO vs GUMI |
Top Performing PMIO Alternatives (YTD)
PMIO is at 0.66% YTD. There are 74 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 3.71% | 4.54M | May 2023 | PMIO vs ZTAX | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | PMIO vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.38% | 142.95M | Jun 2013 | PMIO vs RVNU | |
| Overlay Shares Municipal Bond ETF | 2.26% | 30.60M | Sep 2019 | PMIO vs OVM | |
| T. Rowe Price High Income Municipal ETF | 2.25% | 26.19M | Nov 2025 | PMIO vs THYM |
Lowest Volatility Alternatives to PMIO
PMIO has 2.22% 1-year volatility. There are 46 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | PMIO vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.69% | 8.74M | Sep 2024 | PMIO vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | PMIO vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | PMIO vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.84% | 246.47M | Nov 2018 | PMIO vs FUMB |
Lowest Drawdown Alternatives to PMIO
PMIO has a 1-year max drawdown of -2.24%. There are 39 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.47M | Nov 2018 | PMIO vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | PMIO vs BSMQ | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | PMIO vs MYMG | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | PMIO vs GUMI | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | PMIO vs IBMO |
Other ETFs from PGIM
The 10 most viewed PGIM ETFs shown here include PAAA, PULS, PFRL and span 8 categories. AUM among these funds goes as high as $18B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM AAA CLO ETF | CLO | 99 | 2.76% | 11.25B | Jul 2023 | PMIO vs PAAA | |
| PGIM Ultra Short Bond ETF | Ultrashort Bond | 99 | 2.36% | 18.30B | Apr 2018 | PMIO vs PULS | |
| PGIM Floating Rate Income ETF | Bank Loan | 94 | 2.97% | 121.63M | May 2022 | PMIO vs PFRL | |
| PGIM Active High Yield Bond ETF | High Yield Bonds | 64 | 1.43% | 1.39B | Sep 2018 | PMIO vs PHYL | |
| PGIM Short Duration Multi-Sector Bond ETF | Multisector Bonds | 92 | 1.48% | — | Jul 2023 | PMIO vs PSDM | |
| PGIM Laddered S&P 500 Buffer 12 ETF | Defined Outcome, S&P 500 | 88 | 7.12% | 223.70M | Jun 2024 | PMIO vs BUFP | |
| PGIM Laddered S&P 500 Buffer 20 ETF | Defined Outcome, S&P 500 | 92 | 5.36% | 203.06M | Jun 2024 | PMIO vs PBFR | |
| PGIM Ultra Short Municipal Bond ETF | Municipal Bonds | 93 | 1.56% | 106.99M | Jun 2024 | PMIO vs PUSH | |
| PGIM Short Duration High Yield ETF | High Yield Bonds | 84 | 2.49% | 173.89M | Dec 2023 | PMIO vs PSH | |
| PGIM S&P 500 Max Buffer ETF - April | Defined Outcome | 99 | 3.86% | — | Mar 2025 | PMIO vs PMAP |
Often Compared With PMIO
Investors most often compare PMIO with MUB, COMT, MEAR. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare PMIO with Any Fund or Stock
Compare PMIO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PMIO with funds that move differently
PGIM Municipal Income Opportunities ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PMIO.
Explore PMIO Diversifiers