Invesco Rochester Municipal Opportunities Fund (ORNAX)

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

Invesco Rochester Municipal Opportunities Fund (ORNAX) is up 1.7% since the beginning of the year. ORNAX is currently trading at $7 per share. Investors who bought $1,000 worth of ORNAX shares 5 years ago would now be looking at an investment worth $1,020.

Invesco Rochester Municipal Opportunities Fund (ORNAX) has returned 1.68% so far this year and 5.81% over the past 12 months. Over the last ten years, ORNAX has returned 4.15% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Sep 30, 1993, ORNAX's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.

Historically, 66% of months were positive and 34% were negative. The best month was Sep 2009 with a return of +14.3%, while the worst month was Oct 2008 at -20.7%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.

On a daily basis, ORNAX closed higher 38% of trading days. The best single day was Mar 25, 2020 with a return of +4.7%, while the worst single day was Oct 28, 2008 at -5.6%.

Invesco Rochester Municipal Opportunities Fund has an annualized alpha of 4.47%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 01, 1993.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (22.68%) than losses (16.77%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ORNAX has an expense ratio of 0.72%, placing it in the medium range.

ORNAX ranks 35 for risk / return — below 35% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Invesco Rochester Municipal Opportunities Fund (ORNAX) and compare them to S&P 500 Index.

Invesco Rochester Municipal Opportunities Fund provided a 3.59% dividend yield over the last twelve months, with an annual payout of $0.24 per share.

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

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.

The table below displays the maximum drawdowns of the Invesco Rochester Municipal Opportunities 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 Rochester Municipal Opportunities Fund was 55.48%, occurring on Dec 17, 2008. Recovery took 1522 trading sessions.

The current Invesco Rochester Municipal Opportunities Fund drawdown is 0.03%.

The chart below shows the rolling one-month volatility.