PMIO vs. MYMF

Last updated Jun 4, 2026

PMIO (PGIM Municipal Income Opportunities ETF) and MYMF (State Street My2026 Municipal Bond ETF) are both Municipal Bonds funds. Both are actively managed. Over the past year, PMIO returned 6.80% vs 2.95% for MYMF. A 0.56 correlation means they provide meaningful diversification when combined. PMIO charges 0.25%/yr vs 0.20%/yr for MYMF.

Performance

PMIO vs. MYMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Municipal Income Opportunities ETF (PMIO) and State Street My2026 Municipal Bond ETF (MYMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMIO achieves a 1.54% return, which is significantly higher than MYMF's 0.58% return.

PMIO

• 1D: -0.06%
• 1M: 0.84%
• YTD: 1.54%
• 6M: 1.81%
• 1Y: 6.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MYMF

• 1D: 0.00%
• 1M: 0.29%
• YTD: 0.58%
• 6M: 0.81%
• 1Y: 2.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMIO vs. MYMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PMIO PGIM Municipal Income Opportunities ETF	1.54%	5.30%	-0.41%
MYMF State Street My2026 Municipal Bond ETF	0.58%	3.01%	0.19%

Correlation

The correlation between PMIO and MYMF is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.56

Over the past year, the correlation between PMIO and MYMF has dropped to 0.28 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

PMIO vs. MYMF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PMIO

PMIO Risk / Return Rank: 79
PMIO Sharpe Ratio Rank: 89
PMIO Sortino Ratio Rank: 93
PMIO Omega Ratio Rank: 94
PMIO Calmar Ratio Rank: 62
PMIO Martin Ratio Rank: 58

MYMF

MYMF Risk / Return Rank: 96
MYMF Sharpe Ratio Rank: 95
MYMF Sortino Ratio Rank: 98
MYMF Omega Ratio Rank: 98
MYMF Calmar Ratio Rank: 95
MYMF Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PMIO vs. MYMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Municipal Income Opportunities ETF (PMIO) and State Street My2026 Municipal Bond ETF (MYMF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PMIO	MYMF	Difference
Sharpe ratio: Return per unit of total volatility	3.04	3.98	-0.94
Sortino ratio: Return per unit of downside risk	4.55	6.98	-2.43
Omega ratio: Gain probability vs. loss probability	1.69	2.21	-0.51
Calmar ratio: Return relative to maximum drawdown	3.05	7.79	-4.74
Martin ratio: Return relative to average drawdown	10.15	28.74	-18.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIO vs. MYMF - Sharpe Ratio Comparison

The current PMIO Sharpe Ratio is 3.04, which is comparable to the MYMF Sharpe Ratio of 3.98. The chart below compares the historical Sharpe Ratios of PMIO and MYMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMIO	MYMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	3.98	-0.94
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	1.36	+0.21

Drawdowns

PMIO vs. MYMF - Drawdown Comparison

The maximum PMIO drawdown since its inception was -3.39%, which is greater than MYMF's maximum drawdown of -2.02%. Use the drawdown chart below to compare losses from any high point for PMIO and MYMF.

Drawdown Indicators

	PMIO	MYMF	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-2.02%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.24%	-0.38%	-1.86%
Current Drawdown Current decline from peak	-0.47%	-0.05%	-0.42%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.18%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.10%	+0.57%

Volatility

PMIO vs. MYMF - Volatility Comparison

PGIM Municipal Income Opportunities ETF (PMIO) has a higher volatility of 0.73% compared to State Street My2026 Municipal Bond ETF (MYMF) at 0.21%. This indicates that PMIO's price experiences larger fluctuations and is considered to be riskier than MYMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMIO	MYMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.21%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	1.58%	0.52%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.25%	0.75%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.08%	1.65%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	1.65%	+1.43%

PMIO vs. MYMF - Expense Ratio Comparison

PMIO has a 0.25% expense ratio, which is higher than MYMF's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PMIO vs. MYMF - Dividend Comparison

PMIO's dividend yield for the trailing twelve months is around 3.92%, more than MYMF's 2.47% yield.

Position	TTM	2025	2024
MYMF State Street My2026 Municipal Bond ETF	2.47%	2.80%	0.83%
PMIO PGIM Municipal Income Opportunities ETF	3.92%	4.00%	2.11%

Frequently Asked Questions

Can I hold both PMIO and MYMF in my portfolio?

PMIO and MYMF have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMIO or MYMF?

PMIO has higher volatility (0.73%) compared to MYMF (0.21%). In terms of maximum drawdown, PMIO dropped -3.39% vs MYMF's -2.02%.

Which ETF is better, PMIO or MYMF?

On 1-year performance, PMIO leads with 6.80% vs 2.95% for MYMF. On fees, MYMF is cheaper at 0.20% per year. On volatility, MYMF has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PMIO or MYMF?

Over the 1-year period, PMIO has performed better with a 6.80% return vs 2.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PMIO or MYMF?

MYMF is cheaper with a 0.20% expense ratio, compared with 0.25% for PMIO.

Which ETF pays a higher dividend yield, PMIO or MYMF?

PMIO has the higher dividend yield at 3.92%, compared with 2.47% for MYMF.

What is the main difference between PMIO and MYMF?

They also come from different issuers: PGIM and State Street. Their fees differ too: 0.25% for PMIO and 0.20% for MYMF.

Which has better risk-adjusted returns?

MYMF currently has the higher Sharpe Ratio (3.98 vs 3.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.