Invesco AMT-Free Municipal Fund (OPTAX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with OPTAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to OPTAX
OPTAX charges 0.75% annually. There are 337 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | OPTAX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | OPTAX vs VTMFX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | OPTAX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | OPTAX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | OPTAX vs FSMUX |
Best Risk-Adjusted Alternatives to OPTAX
OPTAX has a PortfoliosLab risk / return rank of 68. There are 388 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | OPTAX vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | OPTAX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | OPTAX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | OPTAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | OPTAX vs TFCYX |
Top Performing OPTAX Alternatives (YTD)
OPTAX is at 1.87% YTD. There are 215 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.06%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.06% | — | Apr 1998 | OPTAX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 10.21% | — | Nov 2002 | OPTAX vs NRK | |
| BlackRock MuniYield Michigan Quality Fund | 8.32% | — | Oct 1992 | OPTAX vs MIY | |
| AllianceBernstein National Municipal Income Fund | 6.66% | — | Nov 2001 | OPTAX vs AFB | |
| BlackRock MuniHoldings California Quality Fund | 6.62% | — | Feb 1998 | OPTAX vs MUC |
Lowest Volatility Alternatives to OPTAX
OPTAX has 3.59% 1-year volatility. There are 440 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.55%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.55% | — | Aug 2002 | OPTAX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | OPTAX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.57% | — | Apr 2007 | OPTAX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.58% | — | May 2016 | OPTAX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | OPTAX vs USMTX |
Lowest Drawdown Alternatives to OPTAX
OPTAX has a 1-year max drawdown of -2.93%. There are 298 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | OPTAX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | OPTAX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | OPTAX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | OPTAX vs TFCYX | |
| DFA Short-Term Selective State Municipal Bond Port... | -0.11% | — | Apr 2022 | OPTAX vs DFABX |
Other Mutual Funds from Invesco
The 10 most viewed Invesco mutual funds shown here include IVNQX, VADAX, VAFAX and span 9 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Invesco Nasdaq 100 Index Fund | Large Cap Growth Equities | 59 | 18.33% | — | Oct 2020 | OPTAX vs IVNQX | |
| Invesco Equally-Weighted S&P 500 Fund Class A | Large Cap Blend Equities | 44 | 12.58% | — | — | OPTAX vs VADAX | |
| Invesco American Franchise Fund Class A | Large Cap Growth Equities | 12 | 8.27% | — | Jun 2005 | OPTAX vs VAFAX | |
| Invesco Gold & Special Minerals Fund | Gold, Precious Metals | 25 | -10.19% | — | Jul 1983 | OPTAX vs OPGSX | |
| Invesco Value Opportunities Fund | Mid Cap Value Equities | 80 | 20.03% | — | Jun 2001 | OPTAX vs VVOAX | |
| Invesco Comstock Fund | Large Cap Value Equities | 68 | 12.28% | — | Oct 1968 | OPTAX vs ACSTX | |
| Invesco Main Street Fund | Large Cap Blend Equities | 35 | 7.85% | — | Feb 1988 | OPTAX vs MSIGX | |
| Invesco Small Cap Value Fund | Small Cap Value Equities | 79 | 27.70% | — | Jun 1999 | OPTAX vs VSCAX | |
| Invesco Equity and Income Fund | Diversified Portfolio | 66 | 7.57% | — | Aug 1960 | OPTAX vs ACEIX | |
| Invesco Global Fund | Global Equities | 19 | 8.22% | — | Dec 1969 | OPTAX vs OPPAX |
Often Compared With OPTAX
Investors most often compare OPTAX with ORNAX, VWALX, BND. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare OPTAX with Any Fund or Stock
Compare OPTAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair OPTAX with funds that move differently
Invesco AMT-Free Municipal Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to OPTAX.
Explore OPTAX Diversifiers