Invesco Rochester Municipal Opportunities Fund (ORNAX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with ORNAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ORNAX
ORNAX charges 0.72% annually. There are 30 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 0.09% | 17.80B | Nov 2001 | ORNAX vs VWALX | |
| BlackRock Allocation Target Shares Series E Portfo... | 0.11% | — | Aug 2014 | ORNAX vs BATEX | |
| Vanguard High-Yield Tax-Exempt Fund Investor Share... | 0.17% | 17.80B | Dec 1978 | ORNAX vs VWAHX | |
| Eaton Vance High Yield Municipal Income Fund Class... | 0.18% | — | May 2007 | ORNAX vs EWHYX | |
| American High-Income Municipal Bond Fund Class F-3 | 0.31% | — | Jan 2017 | ORNAX vs HIMFX |
Best Risk-Adjusted Alternatives to ORNAX
ORNAX has a PortfoliosLab risk / return rank of 49. There are 46 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 93.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| T. Rowe Price Tax Free High Yield Fund | 93 | — | Feb 1985 | ORNAX vs PRFHX | |
| Federated Hermes Municipal High Yield Advtg Fd | 93 | — | Apr 1987 | ORNAX vs FHTFX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 88 | — | Jan 2013 | ORNAX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | 87 | — | Sep 2015 | ORNAX vs ISHYX | |
| Columbia High Yield Municipal Fund | 87 | — | Mar 1984 | ORNAX vs SRHMX |
Top Performing ORNAX Alternatives (YTD)
ORNAX is at 0.44% YTD. There are 48 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 4.20%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal High Income Opportunity Fund | 4.20% | — | Nov 2003 | ORNAX vs NMZ | |
| Eaton Vance High Yield Municipal Income Fund Class... | 2.27% | — | May 2007 | ORNAX vs EWHYX | |
| Nuveen High Yield Municipal Bond Fund Class R6 | 2.16% | — | Jun 2016 | ORNAX vs NHMFX | |
| Columbia High Yield Municipal Fund | 2.11% | — | Mar 1984 | ORNAX vs SRHMX | |
| Nuveen High Yield Municipal Bond Fund | 2.06% | — | Jun 1999 | ORNAX vs NHMRX |
Lowest Volatility Alternatives to ORNAX
ORNAX has 3.80% 1-year volatility. There are 41 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.06%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Lord Abbett Short Duration High Income Municipal B... | 2.06% | — | Jun 2015 | ORNAX vs SDHIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 2.11% | — | Jan 2013 | ORNAX vs NVHIX | |
| Redwood Managed Municipal Income Fund | 2.28% | — | Mar 2017 | ORNAX vs RWMIX | |
| Invesco Short Duration High Yield Municipal Fund | 2.29% | — | Sep 2015 | ORNAX vs ISHYX | |
| abrdn Short Duration High Yield Municipal Fund | 2.54% | — | May 2013 | ORNAX vs AHYMX |
Lowest Drawdown Alternatives to ORNAX
ORNAX has a 1-year max drawdown of -2.85%. There are 20 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.71%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Eagle Short Duration High Yield Municipal Fu... | -1.71% | — | Feb 2024 | ORNAX vs FDUAX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | -1.79% | — | Jan 2013 | ORNAX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | -1.89% | — | Sep 2015 | ORNAX vs ISHYX | |
| abrdn Short Duration High Yield Municipal Fund | -1.98% | — | May 2013 | ORNAX vs AHYMX | |
| Lord Abbett Short Duration High Income Municipal B... | -2.08% | — | Jun 2015 | ORNAX vs SDHIX |
Other Mutual Funds from Invesco
The 10 most viewed Invesco mutual funds shown here include IVNQX, VADAX, OPGSX and span 9 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Invesco Nasdaq 100 Index Fund | Large Cap Growth Equities | 46 | 14.15% | — | Oct 2020 | ORNAX vs IVNQX | |
| Invesco Equally-Weighted S&P 500 Fund Class A | Large Cap Blend Equities | 75 | 14.06% | — | Jul 1997 | ORNAX vs VADAX | |
| Invesco Gold & Special Minerals Fund | Gold, Precious Metals | 27 | -10.14% | — | Jul 1983 | ORNAX vs OPGSX | |
| Invesco American Franchise Fund Class A | Large Cap Growth Equities | 11 | 5.69% | — | Jun 2005 | ORNAX vs VAFAX | |
| Invesco Value Opportunities Fund | Mid Cap Value Equities | 80 | 17.47% | — | Jun 2001 | ORNAX vs VVOAX | |
| Invesco Comstock Fund | Large Cap Value Equities | 88 | 13.68% | — | Oct 1968 | ORNAX vs ACSTX | |
| Invesco Small Cap Value Fund | Small Cap Value Equities | 83 | 25.52% | — | Jun 1999 | ORNAX vs VSCAX | |
| Invesco Main Street Fund | Large Cap Blend Equities | 45 | 8.47% | — | Feb 1988 | ORNAX vs MSIGX | |
| Invesco Equity and Income Fund | Diversified Portfolio | 84 | 8.86% | — | Aug 1960 | ORNAX vs ACEIX | |
| Invesco Equally-Weighted S&P 500 Fund | S&P 500 | 75 | 14.22% | — | Jul 1997 | ORNAX vs VADDX |
Often Compared With ORNAX
Investors most often compare ORNAX with OPTAX, AMHIX, VMATX. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare ORNAX with Any Fund or Stock
Compare ORNAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ORNAX with funds that move differently
Invesco Rochester Municipal Opportunities Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ORNAX.
Explore ORNAX Diversifiers