# Invesco Pennsylvania Value Municipal Income Trust (VPV): Closed-End Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vpv for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Bond - Strategy: Actively Managed · Inception: 1993-06-10 Invesco Pennsylvania Value Municipal Income Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade Pennsylvania municipal securities which include municipal bonds, municipal notes, municipal commercial paper,... ## Key Facts | Metric | Value | |---|---| | Price | $10.82 | | Expense Ratio | 3.05% | | Market Value | $193.4M | | NAV | Not on file (no daily NAV for closed-end funds) | | Holdings Count | — | | Distribution Yield (TTM) | 7.40% | | Annual Distribution (TTM) | $0.80 /share | | Distribution Frequency | Monthly | | 52-Week Range | $10.20 – $11.50 | | Beta | 0.67 | ## Latest Distribution - Amount: $0.0667 /share - Ex-date: 2026-10-14 - Pay date: 2026-10-30 ## Frequently Asked Questions ### What does VPV invest in? Invesco Pennsylvania Value Municipal Income Trust is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade Pennsylvania municipal securities which include municipal bonds, municipal notes, municipal commercial paper, and lease obligations. It employs fundamental analysis with bottom-up security selection approach to create its portfolio. The fund was formerly known as Invesco Van Kampen Pennsylvania Value Municipal Income Trust. Invesco Pennsylvania Value Municipal Income Trust was formed on April 30, 1993 and is domiciled in the United States. ### What is the expense ratio of VPV? Invesco Pennsylvania Value Municipal Income Trust (VPV) charges an expense ratio of 3.05%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VPV's dividend yield? VPV's trailing-twelve-month yield is 7.40%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of VPV? Effective duration measures VPV's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VPV's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of VPV? VPV's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of VPV? Yield to maturity (YTM) is the total return you'd earn from VPV if every bond in the portfolio is held to maturity at the current price. VPV's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does VPV pay a dividend? Yes, Invesco Pennsylvania Value Municipal Income Trust (VPV) distributes dividends to shareholders. The trailing-twelve-month yield is 7.40%. Full dividend history is on this page. ### How often does VPV pay dividends? Invesco Pennsylvania Value Municipal Income Trust pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is VPV's next ex-dividend date? The most recently announced ex-dividend date for VPV was 2026-10-14. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will VPV's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 3.05% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VPV charge its expense ratio? The expense ratio is deducted in tiny daily slices from VPV's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VPV cost more than a fund like VOO? VPV is actively managed (current expense ratio 3.05%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether VPV's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to VPV? The Lower-Fee Alternatives card above lists closed-end funds following the same investment strategy as VPV (3.05%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vpv - Distribution history: https://www.dividenddata.com/funds/vpv/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vpv/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vpv/expenses - Peer comparison: https://www.dividenddata.com/funds/vpv/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.