AFTEX vs. VKMMX
Compare and contrast key facts about American Funds Tax Exempt Bond Fund (AFTEX) and Invesco Municipal Income Fund (VKMMX).
AFTEX is managed by American Funds. It was launched on Oct 2, 1979. VKMMX is managed by Invesco. It was launched on Jul 31, 1990.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AFTEX or VKMMX.
Performance
AFTEX vs. VKMMX - Performance Comparison
Returns By Period
In the year-to-date period, AFTEX achieves a 2.56% return, which is significantly lower than VKMMX's 3.04% return. Over the past 10 years, AFTEX has underperformed VKMMX with an annualized return of 2.31%, while VKMMX has yielded a comparatively higher 2.45% annualized return.
AFTEX
2.56%
0.02%
3.19%
6.96%
1.17%
2.31%
VKMMX
3.04%
-0.03%
3.16%
8.00%
1.10%
2.45%
Key characteristics
| AFTEX | VKMMX | |
|---|---|---|
| Sharpe Ratio | 2.20 | 2.13 |
| Sortino Ratio | 3.30 | 3.17 |
| Omega Ratio | 1.51 | 1.48 |
| Calmar Ratio | 0.89 | 0.77 |
| Martin Ratio | 9.03 | 10.06 |
| Ulcer Index | 0.79% | 0.82% |
| Daily Std Dev | 3.25% | 3.89% |
| Max Drawdown | -14.38% | -21.20% |
| Current Drawdown | -1.59% | -3.61% |
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AFTEX vs. VKMMX - Expense Ratio Comparison
AFTEX has a 0.50% expense ratio, which is lower than VKMMX's 0.81% expense ratio.
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.
Risk-Adjusted Performance
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.
Dividends
AFTEX vs. VKMMX - Dividend Comparison
AFTEX's dividend yield for the trailing twelve months is around 2.86%, less than VKMMX's 3.77% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFTEX American Funds Tax Exempt Bond Fund | 2.86% | 2.69% | 2.33% | 1.95% | 2.27% | 2.63% | 2.88% | 3.05% | 3.17% | 3.21% | 3.38% | 3.52% |
VKMMX Invesco Municipal Income Fund | 3.77% | 3.75% | 3.42% | 3.04% | 2.84% | 3.55% | 4.07% | 3.61% | 4.13% | 4.22% | 4.14% | 4.38% |
Drawdowns
AFTEX vs. VKMMX - Drawdown Comparison
The maximum AFTEX drawdown since its inception was -14.38%, 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.
Volatility
AFTEX vs. VKMMX - Volatility Comparison
The current volatility for American Funds Tax Exempt Bond Fund (AFTEX) is 1.58%, while Invesco Municipal Income Fund (VKMMX) has a volatility of 1.83%. 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.