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Invesco California Municipal Fund (OPCAX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US00141W1099

CUSIP

00141W109

Issuer

Invesco

Inception Date

Nov 2, 1988

Min. Investment

$1,000

Asset Class

Bond

Expense Ratio

OPCAX has an expense ratio of 0.75%, placing it in the medium range.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Invesco California Municipal Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


400.00%600.00%800.00%1,000.00%1,200.00%1,400.00%1,600.00%1,800.00%December2025FebruaryMarchAprilMay
499.71%
1,647.80%
OPCAX (Invesco California Municipal Fund)
Benchmark (^GSPC)

Returns By Period

Invesco California Municipal Fund (OPCAX) returned -2.88% year-to-date (YTD) and -0.60% over the past 12 months. Over the past 10 years, OPCAX returned 3.22% annually, underperforming the S&P 500 benchmark at 10.45%.


OPCAX

YTD

-2.88%

1M

3.47%

6M

-2.85%

1Y

-0.60%

5Y*

1.27%

10Y*

3.22%

^GSPC (Benchmark)

YTD

-3.77%

1M

3.72%

6M

-5.60%

1Y

8.55%

5Y*

14.11%

10Y*

10.45%

*Annualized

Monthly Returns

The table below presents the monthly returns of OPCAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025-0.17%1.21%-2.26%-1.52%-0.13%-2.88%
20240.08%-0.05%0.20%-1.28%0.20%1.83%0.94%0.57%1.30%-1.38%1.56%-1.39%2.53%
20233.85%-2.89%2.21%0.06%-0.81%0.94%0.31%-1.56%-3.50%-2.58%8.81%3.10%7.56%
2022-2.69%-0.65%-3.58%-3.96%1.74%-3.33%3.79%-2.86%-5.32%-1.68%7.45%-0.45%-11.60%
20210.94%-1.47%0.70%1.25%0.69%0.48%0.91%-0.38%-0.73%-0.09%1.11%0.13%3.56%
20202.28%1.91%-5.97%-1.67%3.80%1.86%1.83%-0.40%0.04%-0.18%2.05%0.68%6.04%
20190.55%1.14%2.19%0.65%1.68%0.52%0.63%2.21%-0.60%0.07%0.27%0.38%10.09%
2018-0.29%0.20%2.04%0.80%1.52%1.02%0.43%1.13%-0.63%-0.99%0.43%0.79%6.59%
20170.54%1.03%2.22%1.12%1.11%-0.21%0.38%0.50%-1.44%-1.10%-0.88%1.18%4.47%
20160.22%0.70%0.82%0.80%0.80%2.45%0.31%0.20%0.43%-0.15%-3.70%0.66%3.48%
20151.88%-0.49%-0.14%-0.61%0.45%-2.05%0.59%0.34%1.57%0.70%0.46%1.06%3.77%
20143.24%2.98%0.66%1.10%2.73%-0.90%0.26%2.36%0.48%0.43%0.48%0.71%15.42%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of OPCAX is 16, meaning it’s performing worse than 84% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of OPCAX is 1616
Overall Rank
The Sharpe Ratio Rank of OPCAX is 1818
Sharpe Ratio Rank
The Sortino Ratio Rank of OPCAX is 1414
Sortino Ratio Rank
The Omega Ratio Rank of OPCAX is 1414
Omega Ratio Rank
The Calmar Ratio Rank of OPCAX is 1616
Calmar Ratio Rank
The Martin Ratio Rank of OPCAX is 1616
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Invesco California Municipal Fund (OPCAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Invesco California Municipal Fund Sharpe ratios as of May 10, 2025 (values are recalculated daily):

  • 1-Year: -0.09
  • 5-Year: 0.25
  • 10-Year: 0.64
  • All Time: 1.00

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Invesco California Municipal Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
-0.09
0.44
OPCAX (Invesco California Municipal Fund)
Benchmark (^GSPC)

Dividends

Dividend History

Invesco California Municipal Fund provided a 3.69% dividend yield over the last twelve months, with an annual payout of $0.29 per share. The fund has been increasing its distributions for 2 consecutive years.


3.00%3.50%4.00%4.50%5.00%5.50%6.00%6.50%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.29$0.31$0.30$0.28$0.28$0.29$0.31$0.31$0.38$0.44$0.46$0.53

Dividend yield

3.69%3.83%3.71%3.50%3.06%3.12%3.44%3.71%4.59%5.37%5.48%6.17%

Monthly Dividends

The table displays the monthly dividend distributions for Invesco California Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.03$0.03$0.00$0.00$0.08
2024$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.31
2023$0.02$0.02$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.30
2022$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.28
2021$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.28
2020$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.29
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.02$0.02$0.31
2018$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.31
2017$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.38
2016$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.03$0.03$0.44
2015$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.46
2014$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.08$0.04$0.04$0.53

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-5.31%
-7.88%
OPCAX (Invesco California Municipal Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Invesco California Municipal Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco California Municipal Fund was 47.36%, occurring on Dec 17, 2008. Recovery took 832 trading sessions.

The current Invesco California Municipal Fund drawdown is 5.31%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-47.36%May 9, 2007406Dec 17, 2008832Apr 9, 20121238
-18.06%Jan 4, 2022204Oct 25, 2022
-13.04%Mar 2, 202015Mar 20, 202097Aug 7, 2020112
-12.89%Feb 1, 1994210Nov 21, 1994103Apr 13, 1995313
-11.76%May 20, 201379Sep 10, 2013167May 9, 2014246

Volatility

Volatility Chart

The current Invesco California Municipal Fund volatility is 3.82%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%5.00%10.00%15.00%December2025FebruaryMarchAprilMay
3.82%
6.82%
OPCAX (Invesco California Municipal Fund)
Benchmark (^GSPC)