PVI vs. IDMO
PVI (Invesco VRDO Tax-Free ETF) and IDMO (Invesco S&P International Developed Momentum ETF) are both exchange-traded funds - PVI is a Municipal Bonds fund tracking the ICE US Municipal AMT-Free VRDO Constrained Index, while IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Both are passively managed. Over the past 10 years, PVI returned 1.31%/yr vs 12.40%/yr for IDMO. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
PVI vs. IDMO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PVI achieves a 0.76% return, which is significantly lower than IDMO's 7.56% return. Over the past 10 years, PVI has underperformed IDMO with an annualized return of 1.31%, while IDMO has yielded a comparatively higher 12.40% annualized return.
PVI
- 1D
- 0.00%
- 1M
- 0.09%
- 6M
- 1.05%
- YTD
- 0.76%
- 1Y
- 2.20%
- 3Y*
- 2.57%
- 5Y*
- 1.96%
- 10Y*
- 1.31%
IDMO
- 1D
- -0.66%
- 1M
- -2.44%
- 6M
- 4.42%
- YTD
- 7.56%
- 1Y
- 20.05%
- 3Y*
- 24.23%
- 5Y*
- 15.34%
- 10Y*
- 12.40%
PVI vs. IDMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PVI Invesco VRDO Tax-Free ETF | 0.76% | 3.12% | 2.43% | 2.74% | 0.89% | -0.07% | 0.17% | 1.18% | 1.21% | 0.44% |
IDMO Invesco S&P International Developed Momentum ETF | 7.56% | 42.17% | 12.79% | 20.16% | -12.03% | 14.31% | 22.01% | 26.09% | -16.66% | 29.21% |
Correlation
The correlation between PVI and IDMO is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PVI vs. IDMO — Risk / Return Rank
PVI
IDMO
PVI vs. IDMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco VRDO Tax-Free ETF (PVI) and Invesco S&P International Developed Momentum ETF (IDMO). 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.
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.
| PVI | IDMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 1.64 | +0.60 |
| Martin ratioReturn relative to average drawdown | 7.18 | 6.39 | +0.79 |
Loading charts...
Drawdowns
PVI vs. IDMO - Drawdown Comparison
The maximum PVI drawdown since its inception was -4.10%, smaller than the maximum IDMO drawdown of -39.38%. Use the drawdown chart below to compare losses from any high point for PVI and IDMO.
Loading charts...
Drawdown Indicators
| PVI | IDMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.10% | -39.38% | +35.28% |
Max Drawdown (1Y)Largest decline over 1 year | -0.99% | -12.31% | +11.32% |
Max Drawdown (3Y)Largest decline over 3 years | -1.17% | -12.65% | +11.48% |
Max Drawdown (5Y)Largest decline over 5 years | -1.17% | -27.07% | +25.90% |
Max Drawdown (10Y)Largest decline over 10 years | -1.17% | -31.34% | +30.17% |
Current DrawdownCurrent decline from peak | -0.20% | -4.56% | +4.36% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -9.70% | +9.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 3.14% | -2.83% |
Volatility
PVI vs. IDMO - Volatility Comparison
The current volatility for Invesco VRDO Tax-Free ETF (PVI) is 0.71%, while Invesco S&P International Developed Momentum ETF (IDMO) has a volatility of 5.90%. This indicates that PVI experiences smaller price fluctuations and is considered to be less risky than IDMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PVI | IDMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 5.90% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 16.88% | -15.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.69% | 18.54% | -15.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 18.13% | -16.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.77% | 17.89% | -16.12% |
PVI vs. IDMO - Expense Ratio Comparison
Both PVI and IDMO have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
PVI vs. IDMO - Dividend Comparison
PVI's dividend yield for the trailing twelve months is around 2.13%, less than IDMO's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDMO Invesco S&P International Developed Momentum ETF | 3.72% | 3.71% | 2.24% | 2.89% | 3.66% | 1.81% | 1.63% | 2.78% | 3.27% | 3.08% | 2.18% | 2.52% |
PVI Invesco VRDO Tax-Free ETF | 2.13% | 2.22% | 2.72% | 3.36% | 0.56% | 0.00% | 0.36% | 1.15% | 1.14% | 0.56% | 0.13% | 0.00% |
Frequently Asked Questions
PVI and IDMO have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDMO has higher volatility (5.90%) compared to PVI (0.71%). In terms of maximum drawdown, PVI dropped -4.10% vs IDMO's -39.38%.
On 10-year performance, IDMO leads with 12.40% vs 1.31% for PVI. Both ETFs have the same 0.25% expense ratio. On volatility, PVI has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IDMO has performed better with a 12.40% return vs 1.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PVI and IDMO have the same expense ratio: 0.25% per year.
IDMO has the higher dividend yield at 3.72%, compared with 2.13% for PVI.
PVI is categorized as Municipal Bonds, while IDMO is Momentum. PVI tracks ICE US Municipal AMT-Free VRDO Constrained Index, while IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index.
IDMO currently has the higher Sharpe Ratio (1.09 vs 0.82), 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.
Find the right allocation for PVI and IDMO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer