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Invesco Municipal Income Fund (VKMMX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Invesco Municipal Income Fund (VKMMX)

Mutual Fund · Currency in USD · Last updated May 31, 2025

The investment seeks to provide investors with a high level of current income exempt from federal income tax, consistent with preservation of capital. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in municipal securities at the time of investment. It may invest up to 20% of its net assets in municipal securities below investment grade. The fund may invest all or a substantial portion of its assets in municipal securities that are subject to the federal alternative minimum tax.

Fund Info

ISIN

US0014195558

CUSIP

001419555

Issuer

Invesco

Inception Date

Jul 31, 1990

Category

Municipal Bonds

Min. Investment

$1,000

Asset Class

Bond

Expense Ratio

VKMMX has an expense ratio of 0.81%, 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.

Invesco Municipal Income Fund

Popular comparisons:
VKMMX vs. AFTEX VKMMX vs. ACTHX
Popular comparisons:
VKMMX vs. AFTEX VKMMX vs. ACTHX

Performance

Performance Chart

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S&P 500

Returns By Period

Invesco Municipal Income Fund (VKMMX) returned -2.90% year-to-date (YTD) and 0.68% over the past 12 months. Over the past 10 years, VKMMX returned 1.96% annually, underperforming the S&P 500 benchmark at 10.85%.

VKMMX

YTD

-2.90%

1M

-1.21%

6M

-4.29%

1Y

0.68%

3Y*

0.90%

5Y*

0.86%

10Y*

1.96%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

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

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.22%1.06%-2.03%-0.95%-1.21%-2.90%
20240.08%0.16%0.08%-1.09%0.25%1.77%0.80%0.63%1.21%-1.34%1.63%-1.43%2.71%
20233.82%-2.75%2.02%0.14%-0.60%1.17%0.24%-1.44%-3.43%-2.24%8.01%2.62%7.22%
2022-2.78%-0.80%-3.38%-3.27%1.07%-2.96%3.02%-2.80%-4.55%-1.80%5.95%-0.47%-12.49%
20211.20%-1.76%0.85%1.21%0.91%0.61%0.90%-0.53%-0.97%-0.18%1.21%0.18%3.61%
20202.10%2.04%-7.25%-2.76%3.43%2.48%2.12%-0.13%-0.13%-0.27%2.20%1.20%4.64%
20190.50%0.73%1.88%0.56%1.44%0.46%0.75%1.86%-0.67%0.03%0.26%0.33%8.39%
2018-0.94%-0.34%0.41%-0.27%1.18%0.18%0.11%0.11%-0.73%-0.97%0.58%0.96%0.24%
20170.53%0.83%0.37%0.67%1.50%-0.08%0.52%0.74%-0.20%0.17%0.02%1.08%6.31%
20160.94%0.21%0.72%0.79%0.57%1.72%-0.04%0.24%-0.54%-1.13%-4.04%0.76%0.07%
20151.81%-0.88%0.35%-0.52%-0.31%-0.24%0.73%0.28%0.73%0.43%0.50%0.80%3.72%
20142.30%1.20%0.36%1.41%1.62%0.05%0.13%1.39%0.43%0.72%0.13%0.79%11.02%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of VKMMX is 12, meaning it’s performing worse than 88% 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 VKMMX is 1212
Overall Rank
The Sharpe Ratio Rank of VKMMX is 1414
Sharpe Ratio Rank
The Sortino Ratio Rank of VKMMX is 1010
Sortino Ratio Rank
The Omega Ratio Rank of VKMMX is 1111
Omega Ratio Rank
The Calmar Ratio Rank of VKMMX is 1313
Calmar Ratio Rank
The Martin Ratio Rank of VKMMX is 1313
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 Municipal Income Fund (VKMMX) 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 Municipal Income Fund Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 0.11
  • 5-Year: 0.18
  • 10-Year: 0.42
  • 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 Municipal Income Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Invesco Municipal Income Fund provided a 3.84% dividend yield over the last twelve months, with an annual payout of $0.44 per share.

3.00%3.50%4.00%$0.00$0.10$0.20$0.30$0.40$0.50$0.6020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.44$0.45$0.45$0.40$0.42$0.39$0.48$0.53$0.49$0.54$0.58$0.57

Dividend yield

3.84%3.77%3.75%3.42%3.04%2.84%3.55%4.07%3.61%4.13%4.22%4.14%

Monthly Dividends

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

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.04$0.04$0.04$0.04$0.00$0.15
2024$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.45
2023$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.45
2022$0.04$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.40
2021$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
2020$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
2019$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.03$0.04$0.03$0.48
2018$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.53
2017$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.49
2016$0.05$0.05$0.05$0.05$0.05$0.05$0.04$0.04$0.04$0.04$0.04$0.04$0.54
2015$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.58
2014$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.57

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.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Invesco Municipal Income 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 Municipal Income Fund was 21.20%, occurring on Dec 16, 2008. Recovery took 189 trading sessions.

The current Invesco Municipal Income Fund drawdown is 6.71%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-21.2%Jan 24, 2008227Dec 16, 2008189Sep 17, 2009416
-17.97%Aug 6, 2021308Oct 25, 2022———
-14.32%Mar 2, 202016Mar 23, 2020187Dec 16, 2020203
-12.45%Feb 1, 1994210Nov 21, 1994134May 26, 1995344
-8.45%Oct 13, 201067Jan 18, 2011136Aug 2, 2011203
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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