PortfoliosLab logo
AFTEX vs. VKMMX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between AFTEX and VKMMX is 0.86, 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.


-0.50.00.51.00.9

Performance

AFTEX vs. VKMMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Tax Exempt Bond Fund (AFTEX) and Invesco Municipal Income Fund (VKMMX). The values are adjusted to include any dividend payments, if applicable.

310.00%320.00%330.00%340.00%350.00%360.00%370.00%OctoberNovemberDecember2025FebruaryMarch
371.46%
319.63%
AFTEX
VKMMX

Key characteristics

Sharpe Ratio

AFTEX:

1.15

VKMMX:

1.00

Sortino Ratio

AFTEX:

1.58

VKMMX:

1.37

Omega Ratio

AFTEX:

1.24

VKMMX:

1.21

Calmar Ratio

AFTEX:

0.69

VKMMX:

0.50

Martin Ratio

AFTEX:

3.61

VKMMX:

3.39

Ulcer Index

AFTEX:

1.03%

VKMMX:

1.12%

Daily Std Dev

AFTEX:

3.24%

VKMMX:

3.81%

Max Drawdown

AFTEX:

-14.37%

VKMMX:

-21.20%

Current Drawdown

AFTEX:

-0.81%

VKMMX:

-3.07%

Returns By Period

In the year-to-date period, AFTEX achieves a 1.06% return, which is significantly higher than VKMMX's 0.89% return. Both investments have delivered pretty close results over the past 10 years, with AFTEX having a 2.27% annualized return and VKMMX not far ahead at 2.35%.


AFTEX

YTD

1.06%

1M

0.81%

6M

1.12%

1Y

3.40%

5Y*

0.60%

10Y*

2.27%

VKMMX

YTD

0.89%

1M

0.67%

6M

0.92%

1Y

3.29%

5Y*

0.29%

10Y*

2.35%

*Annualized

Compare stocks, funds, or ETFs

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


AFTEX vs. VKMMX - Expense Ratio Comparison

AFTEX has a 0.50% expense ratio, which is lower than VKMMX's 0.81% expense ratio.


Expense ratio chart for VKMMX: current value at 0.81% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.81%
Expense ratio chart for AFTEX: current value at 0.50% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.50%

Risk-Adjusted Performance

AFTEX vs. VKMMX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFTEX
The Risk-Adjusted Performance Rank of AFTEX is 6464
Overall Rank
The Sharpe Ratio Rank of AFTEX is 6767
Sharpe Ratio Rank
The Sortino Ratio Rank of AFTEX is 6565
Sortino Ratio Rank
The Omega Ratio Rank of AFTEX is 7474
Omega Ratio Rank
The Calmar Ratio Rank of AFTEX is 5858
Calmar Ratio Rank
The Martin Ratio Rank of AFTEX is 5858
Martin Ratio Rank

VKMMX
The Risk-Adjusted Performance Rank of VKMMX is 5858
Overall Rank
The Sharpe Ratio Rank of VKMMX is 6060
Sharpe Ratio Rank
The Sortino Ratio Rank of VKMMX is 5858
Sortino Ratio Rank
The Omega Ratio Rank of VKMMX is 6666
Omega Ratio Rank
The Calmar Ratio Rank of VKMMX is 4747
Calmar Ratio Rank
The Martin Ratio Rank of VKMMX is 5757
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.

AFTEX vs. VKMMX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Tax Exempt Bond Fund (AFTEX) and Invesco Municipal Income Fund (VKMMX). 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.


The chart of Sharpe ratio for AFTEX, currently valued at 1.15, compared to the broader market-1.000.001.002.003.004.001.151.00
The chart of Sortino ratio for AFTEX, currently valued at 1.58, compared to the broader market0.002.004.006.008.0010.001.581.37
The chart of Omega ratio for AFTEX, currently valued at 1.24, compared to the broader market1.002.003.001.241.21
The chart of Calmar ratio for AFTEX, currently valued at 0.69, compared to the broader market0.005.0010.0015.000.690.50
The chart of Martin ratio for AFTEX, currently valued at 3.61, compared to the broader market0.0020.0040.0060.0080.003.613.39
AFTEX
VKMMX

The current AFTEX Sharpe Ratio is 1.15, which is comparable to the VKMMX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of AFTEX and VKMMX, 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 Ratio0.001.002.003.004.00OctoberNovemberDecember2025FebruaryMarch
1.15
1.00
AFTEX
VKMMX

Dividends

AFTEX vs. VKMMX - Dividend Comparison

AFTEX's dividend yield for the trailing twelve months is around 2.68%, less than VKMMX's 3.39% yield.


TTM20242023202220212020201920182017201620152014
AFTEX
American Funds Tax Exempt Bond Fund
2.68%2.91%2.69%2.33%1.95%2.27%2.63%2.88%3.05%3.17%3.21%3.38%
VKMMX
Invesco Municipal Income Fund
3.39%3.77%3.75%3.42%3.04%2.84%3.55%4.07%3.61%4.13%4.22%4.14%

Drawdowns

AFTEX vs. VKMMX - Drawdown Comparison

The maximum AFTEX drawdown since its inception was -14.37%, smaller than the maximum VKMMX drawdown of -21.20%. Use the drawdown chart below to compare losses from any high point for AFTEX and VKMMX. For additional features, visit the drawdowns tool.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%OctoberNovemberDecember2025FebruaryMarch
-0.81%
-3.07%
AFTEX
VKMMX

Volatility

AFTEX vs. VKMMX - Volatility Comparison

The current volatility for American Funds Tax Exempt Bond Fund (AFTEX) is 0.90%, while Invesco Municipal Income Fund (VKMMX) has a volatility of 1.12%. This indicates that AFTEX experiences smaller price fluctuations and is considered to be less risky than VKMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%OctoberNovemberDecember2025FebruaryMarch
0.90%
1.12%
AFTEX
VKMMX