ACTHX vs. SRHMX
ACTHX (Invesco High Yield Municipal Fund) and SRHMX (Columbia High Yield Municipal Fund) are both High Yield Muni funds. Over the past 10 years, ACTHX returned 2.79%/yr vs 2.78%/yr for SRHMX. Their correlation of 0.82 suggests significant overlap in exposure. ACTHX charges 1.39%/yr vs 0.65%/yr for SRHMX.
Performance
ACTHX vs. SRHMX - Performance Comparison
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Returns By Period
In the year-to-date period, ACTHX achieves a 2.64% return, which is significantly lower than SRHMX's 3.04% return. Both investments have delivered pretty close results over the past 10 years, with ACTHX having a 2.79% annualized return and SRHMX not far behind at 2.78%.
ACTHX
- 1D
- 0.12%
- 1M
- 0.93%
- YTD
- 2.64%
- 6M
- 2.85%
- 1Y
- 7.62%
- 3Y*
- 4.73%
- 5Y*
- 0.68%
- 10Y*
- 2.79%
SRHMX
- 1D
- 0.22%
- 1M
- 1.21%
- YTD
- 3.04%
- 6M
- 3.66%
- 1Y
- 9.24%
- 3Y*
- 6.35%
- 5Y*
- 0.83%
- 10Y*
- 2.78%
ACTHX vs. SRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACTHX Invesco High Yield Municipal Fund | 2.64% | 4.38% | 5.54% | 4.34% | -13.94% | 6.29% | 3.25% | 10.12% | 1.44% | 9.10% |
SRHMX Columbia High Yield Municipal Fund | 3.04% | 4.36% | 7.72% | 6.63% | -17.44% | 6.57% | 3.75% | 9.05% | 2.43% | 7.05% |
Correlation
The correlation between ACTHX and SRHMX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 1995 | 0.82 |
The correlation between ACTHX and SRHMX shifts across timeframes, from 0.82 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ACTHX vs. SRHMX — Risk / Return Rank
ACTHX
SRHMX
ACTHX vs. SRHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Municipal Fund (ACTHX) and Columbia High Yield Municipal Fund (SRHMX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ACTHX | SRHMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.65 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.37 | -0.79 |
| Martin ratioReturn relative to average drawdown | 8.38 | 12.24 | -3.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ACTHX | SRHMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 2.64 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.14 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.50 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 1.04 | +0.06 |
Drawdowns
ACTHX vs. SRHMX - Drawdown Comparison
The maximum ACTHX drawdown since its inception was -27.29%, roughly equal to the maximum SRHMX drawdown of -26.04%. Use the drawdown chart below to compare losses from any high point for ACTHX and SRHMX.
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Drawdown Indicators
| ACTHX | SRHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.29% | -26.04% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -2.72% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -8.81% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -19.83% | -22.59% | +2.76% |
Max Drawdown (10Y)Largest decline over 10 years | -19.83% | -22.59% | +2.76% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -3.00% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.75% | +0.17% |
Volatility
ACTHX vs. SRHMX - Volatility Comparison
Invesco High Yield Municipal Fund (ACTHX) and Columbia High Yield Municipal Fund (SRHMX) have volatilities of 1.40% and 1.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACTHX | SRHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.34% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 2.55% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.50% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 5.90% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.39% | 5.62% | -0.23% |
ACTHX vs. SRHMX - Expense Ratio Comparison
ACTHX has a 1.39% expense ratio, which is higher than SRHMX's 0.65% expense ratio.
Dividends
ACTHX vs. SRHMX - Dividend Comparison
ACTHX's dividend yield for the trailing twelve months is around 5.34%, more than SRHMX's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACTHX Invesco High Yield Municipal Fund | 5.34% | 7.14% | 5.64% | 4.22% | 4.72% | 3.95% | 4.33% | 4.70% | 4.78% | 4.71% | 5.11% | 4.93% |
SRHMX Columbia High Yield Municipal Fund | 4.63% | 5.65% | 4.79% | 4.30% | 4.46% | 3.40% | 3.83% | 4.55% | 5.10% | 4.30% | 4.56% | 4.55% |
Frequently Asked Questions
ACTHX and SRHMX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACTHX has higher volatility (1.40%) compared to SRHMX (1.34%). In terms of maximum drawdown, ACTHX dropped -27.29% vs SRHMX's -26.04%.
SRHMX currently has the higher Sharpe Ratio (2.64 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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