Invesco VRDO Tax-Free ETF (PVI) Sharpe Ratio: 0.82

PVI's Sharpe Ratio of 0.82 indicates that for each unit of volatility, it generates 0.82 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Aug 2, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

PVI Sharpe Ratio Rank

Below Average

PVI ranks above 33.5% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

Strong returns with low total volatility → Higher rank
High volatility (both upside and downside) → Lower rank
Consistent returns → Higher rank than volatile returns of same magnitude
Sharp drawdowns increase volatility → Lower rank

What you can do with this information

Returns may not adequately compensate for volatility taken
Consider smaller allocation given below-average risk-adjusted profile
Explore higher-ranked investments with better consistency
Assess whether the volatility profile aligns with your portfolio goals

PVI Sharpe Ratio Market Positioning

The chart shows PVI's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

Red zone (bottom 25%): 0.56 or lower
Yellow zone (middle 50%): 0.56 to 1.73
Green zone (top 25%): 1.73 or higher
Top 1%: 6.30+
Median: 1.25 — half of all investments score higher

How it compares to other similar ETFs

The table compares Invesco VRDO Tax-Free ETF's Sharpe Ratio with other ETFs in the Municipal Bonds category across multiple time periods, showing how PVI's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Aug 2, 2026.

Symbol	Name	1Y Sharpe Ratio
MYMF	State Street My2026 Municipal Bond ETF	3.73
MYMG	State Street My2027 Municipal Bond ETF	3.61
AUSM	Allspring Ultra Short Municipal ETF	3.59
CALI	iShares Short-Term California Muni Active ETF	3.23
MEAR	iShares Short Maturity Municipal Bond ETF	2.96
GUMI	Goldman Sachs Ultra Short Municipal Income ETF	2.83
FUMB	First Trust Ultra Short Duration Municipal ETF	2.82
CA	Xtrackers California Municipal Bond ETF	2.76
SMMU	PIMCO Short Term Municipal Bond Active ETF	2.73
MYMH	State Street My2028 Municipal Bond ETF	2.57
PVI	Invesco VRDO Tax-Free ETF	0.82

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Historical Sharpe Ratio

The chart shows PVI's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when PVI consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does PVI fit in your portfolio?

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