PVI vs SPY
Comparison between INVESCO FLOATING RATE MUNICIPAL INCOME ETF (PVI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed PVI, delivering a return of +13.3% compared to +1.9%
PVI vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
PVI vs SPY - Historical Returns
Returns include dividend reinvestment.
PVI vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PVI | SPY |
|---|---|---|
| 2026 | +0.82% | +8.26% |
| 2025 | +2.64% | +18.00% |
| 2024 | +2.43% | +25.59% |
| 2023 | +2.71% | +26.72% |
| 2022 | +0.90% | -18.64% |
| 2021 | -0.08% | +30.52% |
| 2020 | +0.13% | +17.28% |
| 2019 | +1.24% | +31.09% |
| 2018 | +1.13% | -5.24% |
| 2017 | +0.53% | +20.78% |
| 2016 | +0.25% | +13.59% |
| 2015 | -0.18% | +1.31% |
| 2014 | -0.08% | +14.56% |
| 2013 | +0.03% | +29.00% |
| 2012 | +0.13% | +14.17% |
| 2011 | +0.65% | +0.85% |
| 2010 | +0.33% | +13.14% |
| 2009 | +0.96% | +22.67% |
| 2008 | +3.44% | -36.25% |
| 2007 | +0.49% | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
PVI vs SPY Drawdown Comparison
The maximum drawdown for PVI was -4.10%, occurring on Feb 29, 2008. Recovery took 347 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PVI drawdown is -0.16%. The current SPY drawdown is -2.90%.
| Rank | PVI | SPY |
|---|---|---|
| #1 | -4.10% Jan 25, 2008 - Jun 11, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -1.17% Oct 2, 2024 - Jan 10, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -1.04% Oct 26, 2010 - Nov 15, 2010 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -0.99% Sep 4, 2025 - Oct 27, 2025 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -0.80% Mar 27, 2025 - Apr 9, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -0.68% Mar 20, 2020 - Oct 24, 2022 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -0.65% Dec 31, 2025 - Feb 3, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -0.65% Mar 27, 2026 - May 19, 2026 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -0.65% Oct 27, 2025 - Dec 22, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -0.60% Feb 3, 2026 - Mar 13, 2026 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -0.60% Jul 19, 2013 - Mar 17, 2017 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -0.58% Mar 1, 2018 - May 23, 2018 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -0.52% Feb 24, 2020 - Mar 19, 2020 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -0.48% Feb 21, 2025 - Mar 24, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -0.48% Jun 19, 2018 - Aug 15, 2018 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PVI and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.
Dividend Comparison (1999 - 2026)
PVI vs SPY dividend yield comparison.
| Year | PVI | SPY |
|---|---|---|
| 2026 | 0.87% | 0.24% |
| 2025 | 2.22% | 1.07% |
| 2024 | 2.72% | 1.21% |
| 2023 | 3.36% | 1.40% |
| 2022 | 0.56% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.36% | 1.52% |
| 2019 | 1.15% | 1.75% |
| 2018 | 1.14% | 2.04% |
| 2017 | 0.56% | 1.80% |
| 2016 | 0.13% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.03% | 1.81% |
| 2012 | 0.17% | 2.18% |
| 2011 | 0.52% | 2.05% |
| 2010 | 0.33% | 1.80% |
| 2009 | 1.23% | 1.95% |
| 2008 | 3.38% | 3.02% |
| 2007 | 0.41% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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