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ACTHX vs. TAFTX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between ACTHX and TAFTX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.00.8

Performance

ACTHX vs. TAFTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco High Yield Municipal Fund (ACTHX) and American Funds Tax-Exempt Fund of California (TAFTX). The values are adjusted to include any dividend payments, if applicable.

250.00%300.00%350.00%400.00%450.00%500.00%JulyAugustSeptemberOctoberNovemberDecember
251.65%
508.91%
ACTHX
TAFTX

Key characteristics

Sharpe Ratio

ACTHX:

0.89

TAFTX:

0.76

Sortino Ratio

ACTHX:

1.26

TAFTX:

1.03

Omega Ratio

ACTHX:

1.20

TAFTX:

1.16

Calmar Ratio

ACTHX:

0.39

TAFTX:

0.51

Martin Ratio

ACTHX:

3.78

TAFTX:

2.96

Ulcer Index

ACTHX:

1.13%

TAFTX:

0.84%

Daily Std Dev

ACTHX:

4.78%

TAFTX:

3.28%

Max Drawdown

ACTHX:

-27.29%

TAFTX:

-16.03%

Current Drawdown

ACTHX:

-5.92%

TAFTX:

-2.12%

Returns By Period

In the year-to-date period, ACTHX achieves a 3.82% return, which is significantly higher than TAFTX's 1.96% return. Over the past 10 years, ACTHX has outperformed TAFTX with an annualized return of 3.14%, while TAFTX has yielded a comparatively lower 2.21% annualized return.


ACTHX

YTD

3.82%

1M

-1.62%

6M

0.98%

1Y

4.27%

5Y*

0.71%

10Y*

3.14%

TAFTX

YTD

1.96%

1M

-0.72%

6M

1.06%

1Y

2.42%

5Y*

0.96%

10Y*

2.21%

Compare stocks, funds, or ETFs

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


ACTHX vs. TAFTX - Expense Ratio Comparison

ACTHX has a 1.39% expense ratio, which is higher than TAFTX's 0.57% expense ratio.


ACTHX
Invesco High Yield Municipal Fund
Expense ratio chart for ACTHX: current value at 1.39% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.39%
Expense ratio chart for TAFTX: current value at 0.57% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.57%

Risk-Adjusted Performance

ACTHX vs. TAFTX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco High Yield Municipal Fund (ACTHX) and American Funds Tax-Exempt Fund of California (TAFTX). 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.


Sharpe ratio
The chart of Sharpe ratio for ACTHX, currently valued at 0.89, compared to the broader market-1.000.001.002.003.004.000.890.76
The chart of Sortino ratio for ACTHX, currently valued at 1.26, compared to the broader market-2.000.002.004.006.008.0010.001.261.03
The chart of Omega ratio for ACTHX, currently valued at 1.20, compared to the broader market0.501.001.502.002.503.003.501.201.16
The chart of Calmar ratio for ACTHX, currently valued at 0.39, compared to the broader market0.002.004.006.008.0010.0012.0014.000.390.51
The chart of Martin ratio for ACTHX, currently valued at 3.78, compared to the broader market0.0020.0040.0060.003.782.96
ACTHX
TAFTX

The current ACTHX Sharpe Ratio is 0.89, which is comparable to the TAFTX Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of ACTHX and TAFTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
0.89
0.76
ACTHX
TAFTX

Dividends

ACTHX vs. TAFTX - Dividend Comparison

ACTHX's dividend yield for the trailing twelve months is around 4.79%, more than TAFTX's 2.87% yield.


TTM20232022202120202019201820172016201520142013
ACTHX
Invesco High Yield Municipal Fund
4.79%5.06%4.73%3.95%4.30%4.32%4.75%4.72%5.17%4.99%5.21%5.91%
TAFTX
American Funds Tax-Exempt Fund of California
2.87%2.67%2.42%2.01%2.27%2.65%2.93%2.95%3.13%3.32%3.43%3.84%

Drawdowns

ACTHX vs. TAFTX - Drawdown Comparison

The maximum ACTHX drawdown since its inception was -27.29%, which is greater than TAFTX's maximum drawdown of -16.03%. Use the drawdown chart below to compare losses from any high point for ACTHX and TAFTX. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-5.92%
-2.12%
ACTHX
TAFTX

Volatility

ACTHX vs. TAFTX - Volatility Comparison

Invesco High Yield Municipal Fund (ACTHX) has a higher volatility of 1.51% compared to American Funds Tax-Exempt Fund of California (TAFTX) at 1.25%. This indicates that ACTHX's price experiences larger fluctuations and is considered to be riskier than TAFTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JulyAugustSeptemberOctoberNovemberDecember
1.51%
1.25%
ACTHX
TAFTX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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