Invesco AMT-Free Municipal Fund (OPTAX)
Under normal market conditions, and as a fundamental policy, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in securities the income from which, in the opinion of counsel to the issuer of each security, is exempt from regular federal individual and, as applicable, the fund's state income tax. It will not invest in municipal securities the interest on which would be subject to the federal "alternative minimum tax" (AMT).
Fund Info
| ISIN | US0014192175 |
|---|---|
| CUSIP | 001419217 |
| Issuer | Invesco |
| Inception Date | Oct 26, 1976 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
OPTAX features an expense ratio of 0.75%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: OPTAX vs. VWALX, OPTAX vs. ORNAX, OPTAX vs. BND
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Invesco AMT-Free 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.
Returns By Period
Invesco AMT-Free Municipal Fund had a return of 1.91% year-to-date (YTD) and 8.94% in the last 12 months. Over the past 10 years, Invesco AMT-Free Municipal Fund had an annualized return of 4.26%, while the S&P 500 had an annualized return of 11.41%, indicating that Invesco AMT-Free Municipal Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.91% | 25.70% |
| 1 month | -0.55% | 3.51% |
| 6 months | 2.08% | 14.80% |
| 1 year | 8.94% | 37.91% |
| 5 years (annualized) | 1.96% | 14.18% |
| 10 years (annualized) | 4.26% | 11.41% |
Monthly Returns
The table below presents the monthly returns of OPTAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.03% | 0.17% | -0.26% | -1.13% | -0.12% | 1.80% | 0.76% | 0.61% | 1.18% | -1.40% | 1.91% | ||
| 2023 | 3.86% | -2.55% | 2.22% | 0.16% | -0.71% | 1.04% | 0.16% | -1.44% | -3.68% | -1.83% | 7.88% | 2.51% | 7.33% |
| 2022 | -2.76% | -0.65% | -3.41% | -3.41% | 1.42% | -2.80% | 3.18% | -2.81% | -4.35% | -1.52% | 5.88% | -0.57% | -11.64% |
| 2021 | 1.21% | -1.60% | 0.81% | 1.44% | 0.80% | 0.54% | 0.91% | -0.46% | -0.97% | -0.11% | 1.29% | 0.27% | 4.16% |
| 2020 | 2.41% | 3.77% | -7.03% | -1.83% | 3.22% | 2.31% | 2.14% | -0.09% | -0.35% | -0.35% | 2.40% | 1.17% | 7.52% |
| 2019 | 0.44% | 1.73% | 2.27% | 0.85% | 1.80% | 0.70% | 0.70% | 2.31% | -0.35% | -0.09% | 0.17% | 0.97% | 12.08% |
| 2018 | 0.21% | 0.06% | 2.11% | 1.06% | 1.49% | 1.31% | 0.59% | 1.57% | -0.53% | -1.65% | 0.44% | 0.59% | 7.43% |
| 2017 | 0.43% | 1.92% | 3.65% | 0.67% | 1.23% | -0.46% | 0.10% | 0.53% | -1.21% | -1.22% | -0.95% | 1.25% | 5.98% |
| 2016 | 0.49% | 0.64% | 0.93% | 0.49% | 0.76% | 2.34% | 0.32% | 0.30% | 0.30% | -0.83% | -3.84% | 0.73% | 2.53% |
| 2015 | 1.79% | -0.63% | 0.21% | -0.65% | 0.22% | -1.53% | 0.52% | 0.81% | 1.55% | 1.53% | 0.51% | 0.80% | 5.21% |
| 2014 | 3.22% | 2.93% | 0.55% | 1.54% | 2.65% | -1.06% | 0.09% | 2.65% | 0.79% | 0.22% | 0.65% | 1.08% | 16.32% |
| 2013 | 1.27% | 0.28% | -0.54% | 1.69% | -0.28% | -5.97% | -2.13% | -3.32% | 2.89% | 1.13% | -0.64% | -0.93% | -6.67% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of OPTAX is 43, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Invesco AMT-Free Municipal Fund (OPTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Invesco AMT-Free Municipal Fund provided a 3.81% dividend yield over the last twelve months, with an annual payout of $0.26 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.26 | $0.25 | $0.24 | $0.27 | $0.30 | $0.27 | $0.27 | $0.32 | $0.39 | $0.42 | $0.45 | $0.39 |
Dividend yield | 3.81% | 3.62% | 3.58% | 3.43% | 3.76% | 3.52% | 3.82% | 4.71% | 5.77% | 6.05% | 6.35% | 6.02% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco AMT-Free Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.22 | |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 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 | $0.24 |
| 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 | $0.27 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.30 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.32 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 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 | $0.42 |
| 2014 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.07 | $0.04 | $0.04 | $0.45 |
| 2013 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.39 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco AMT-Free 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 AMT-Free Municipal Fund was 48.54%, occurring on Dec 17, 2008. Recovery took 910 trading sessions.
The current Invesco AMT-Free Municipal Fund drawdown is 3.48%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -48.54% | May 14, 2007 | 403 | Dec 17, 2008 | 910 | Jul 31, 2012 | 1313 |
| -16.82% | Aug 3, 2021 | 311 | Oct 25, 2022 | — | — | — |
| -15.54% | Oct 18, 1993 | 286 | Nov 21, 1994 | 139 | Jun 2, 1995 | 425 |
| -13.48% | Mar 5, 1987 | 163 | Oct 19, 1987 | 76 | Feb 2, 1988 | 239 |
| -13.43% | Mar 2, 2020 | 15 | Mar 20, 2020 | 176 | Nov 30, 2020 | 191 |
Volatility
Volatility Chart
The current Invesco AMT-Free Municipal Fund volatility is 2.12%, 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.