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 63 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% | 4.00B | Oct 2022 | PMIO vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | PMIO vs VTEB | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 126.55M | Aug 2025 | PMIO vs TAXS | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 163.46M | Aug 2025 | PMIO vs TAXI | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.72M | Aug 2025 | PMIO vs TAXT |
Best Risk-Adjusted Alternatives to PMIO
PMIO has a PortfoliosLab risk / return rank of 83. There are 34 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | 97 | 245.94M | Nov 2018 | PMIO vs FUMB | |
| State Street My2027 Municipal Bond ETF | 97 | 8.64M | Sep 2024 | PMIO vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | PMIO vs AUSM | |
| State Street My2026 Municipal Bond ETF | 97 | 8.73M | Sep 2024 | PMIO vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.41B | Mar 2015 | PMIO vs MEAR |
Top Performing PMIO Alternatives (YTD)
PMIO is at 1.91% YTD. There are 49 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.58%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.58% | 143.84M | Jun 2013 | PMIO vs RVNU | |
| Overlay Shares Municipal Bond ETF | 4.10% | 30.60M | Sep 2019 | PMIO vs OVM | |
| T. Rowe Price High Income Municipal ETF | 4.04% | 25.42M | Nov 2025 | PMIO vs THYM | |
| First Trust Flexible Municipal High Income ETF | 3.99% | 20.73M | Sep 2016 | PMIO vs MFLX | |
| Rareview Tax Advantaged Income ETF | 3.89% | 18.13M | Oct 2020 | PMIO vs RTAI |
Lowest Volatility Alternatives to PMIO
PMIO has 2.23% 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% | 33.31M | Sep 2025 | PMIO vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.71% | 8.73M | Sep 2024 | PMIO vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 408.07M | Oct 2007 | PMIO vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.74% | 30.06M | Jul 2025 | PMIO vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.79% | 245.94M | 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% | 245.94M | Nov 2018 | PMIO vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 283.20M | Sep 2019 | PMIO vs BSMQ | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.64M | Sep 2024 | PMIO vs MYMG | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | PMIO vs GUMI | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 581.67M | Apr 2019 | PMIO vs IBMO |
Other ETFs from PGIM
The 10 most viewed PGIM ETFs shown here include PAAA, PULS, PFRL and span 9 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 | 2.51% | 10.35B | Jul 2023 | PMIO vs PAAA | |
| PGIM Ultra Short Bond ETF | Ultrashort Bond | 99 | 2.11% | 17.62B | Apr 2018 | PMIO vs PULS | |
| PGIM Floating Rate Income ETF | Bank Loan | 93 | 2.77% | 118.91M | May 2022 | PMIO vs PFRL | |
| PGIM Short Duration Multi-Sector Bond ETF | Multisector Bonds | 91 | 1.45% | — | Jul 2023 | PMIO vs PSDM | |
| PGIM Laddered S&P 500 Buffer 12 ETF | Defined Outcome, S&P 500 | 88 | 7.12% | 213.82M | Jun 2024 | PMIO vs BUFP | |
| PGIM Laddered S&P 500 Buffer 20 ETF | Defined Outcome, S&P 500 | 92 | 5.34% | 194.07M | Jun 2024 | PMIO vs PBFR | |
| PGIM Ultra Short Municipal Bond ETF | Municipal Bonds | 92 | 1.62% | 102.00M | Jun 2024 | PMIO vs PUSH | |
| PGIM Short Duration High Yield ETF | High Yield Bonds | 82 | 2.53% | 167.88M | Dec 2023 | PMIO vs PSH | |
| PGIM Total Return Bond ETF | Intermediate Core-Plus Bond | 34 | 0.27% | 1.07B | Dec 2021 | PMIO vs PTRB | |
| PGIM S&P 500 Max Buffer ETF - April | Defined Outcome | 99 | 3.58% | — | Mar 2025 | PMIO vs PMAP |
Often Compared With PMIO
Investors most often compare PMIO with FMUN, MUB, COMT. These 20 comparison targets span 6 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