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AITFX vs. JGRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AITFX vs. JGRO

Last updated Jun 26, 2026

AITFX (Invesco Limited Term Municipal Income Fund) and JGRO (JPMorgan Active Growth ETF) are both funds - AITFX is a Municipal Bonds fund managed by Invesco, while JGRO is a Large Cap Growth Equities fund actively managed by JPMorgan. Over the past 3 years, AITFX returned 3.99%/yr vs 20.85%/yr for JGRO. At a 0.10 correlation, their price movements are largely independent. AITFX charges 0.33%/yr vs 0.44%/yr for JGRO.

Performance

AITFX vs. JGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Limited Term Municipal Income Fund (AITFX) and JPMorgan Active Growth ETF (JGRO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AITFX achieves a 1.43% return, which is significantly lower than JGRO's 2.40% return.

AITFX

1D
0.09%
1M
0.67%
YTD
1.43%
6M
1.83%
1Y
4.95%
3Y*
3.99%
5Y*
2.14%
10Y*
2.09%

JGRO

1D
0.12%
1M
-2.96%
YTD
2.40%
6M
0.71%
1Y
13.12%
3Y*
20.85%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AITFX vs. JGRO - Yearly Performance Comparison

2026 (YTD)2025202420232022
AITFX
Invesco Limited Term Municipal Income Fund		1.43%5.47%2.88%3.67%-0.42%
JGRO
JPMorgan Active Growth ETF		2.40%14.71%32.77%37.74%-10.43%

Correlation

The correlation between AITFX and JGRO is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (All Time)
Calculated using the full available price history since Aug 9, 2022

0.10

The correlation between AITFX and JGRO shifts across timeframes, from 0.10 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Invesco Limited Term Municipal Income Fund

JPMorgan Active Growth ETF

Often compared with AITFX:
AITFX vs. NVGAITFX vs. VMLTXAITFX vs. NMIAITFX vs. VADAXAITFX vs. NRKAITFX vs. VADDXAITFX vs. BMN
Often compared with JGRO:
JGRO vs. OLGAXJGRO vs. JTEKJGRO vs. VUGJGRO vs. SCHGJGRO vs. VOOGJGRO vs. QQQJGRO vs. JAVA

Return for Risk

AITFX vs. JGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AITFX
AITFX Risk / Return Rank: 8989
Overall Rank
AITFX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
AITFX Sortino Ratio Rank: 9898
Sortino Ratio Rank
AITFX Omega Ratio Rank: 9898
Omega Ratio Rank
AITFX Calmar Ratio Rank: 7979
Calmar Ratio Rank
AITFX Martin Ratio Rank: 7575
Martin Ratio Rank
JGRO
JGRO Risk / Return Rank: 2222
Overall Rank
JGRO Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
JGRO Sortino Ratio Rank: 2323
Sortino Ratio Rank
JGRO Omega Ratio Rank: 2323
Omega Ratio Rank
JGRO Calmar Ratio Rank: 2020
Calmar Ratio Rank
JGRO Martin Ratio Rank: 2121
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AITFX vs. JGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Limited Term Municipal Income Fund (AITFX) and JPMorgan Active Growth ETF (JGRO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

AITFXJGRODifference
Sharpe ratioReturn per unit of total volatility
3.04
0.81

+2.23

Sortino ratioReturn per unit of downside risk
5.73
1.18

+4.55

Omega ratioGain probability vs. loss probability

2.00

1.15

+0.85

Calmar ratioReturn relative to maximum drawdown

3.08

0.80

+2.27

Martin ratioReturn relative to average drawdown

11.64

2.38

+9.26

AITFX vs. JGRO - Sharpe Ratio Comparison

The current AITFX Sharpe Ratio is 3.04, which is higher than the JGRO Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of AITFX and JGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AITFX vs. JGRO - Drawdown Comparison

The maximum AITFX drawdown since its inception was -7.17%, smaller than the maximum JGRO drawdown of -22.70%. Use the drawdown chart below to compare losses from any high point for AITFX and JGRO.

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Drawdown Indicators

AITFXJGRODifference

Max Drawdown

Largest peak-to-trough decline

-7.17%

-22.70%

+15.53%

Max Drawdown (1Y)

Largest decline over 1 year

-1.62%

-16.44%

+14.82%

Max Drawdown (3Y)

Largest decline over 3 years

-2.63%

-22.70%

+20.07%

Max Drawdown (5Y)

Largest decline over 5 years

-5.62%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-7.17%

—

—

Current Drawdown

Current decline from peak

-0.09%

-4.49%

+4.40%

Average Drawdown

Average peak-to-trough decline

-0.73%

-4.83%

+4.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

5.52%

-5.09%

Volatility

AITFX vs. JGRO - Volatility Comparison

The current volatility for Invesco Limited Term Municipal Income Fund (AITFX) is 0.49%, while JPMorgan Active Growth ETF (JGRO) has a volatility of 6.34%. This indicates that AITFX experiences smaller price fluctuations and is considered to be less risky than JGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AITFXJGRODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.49%

6.34%

-5.85%

Volatility (6M)

Calculated over the trailing 6-month period

1.28%

12.51%

-11.23%

Volatility (1Y)

Calculated over the trailing 1-year period

1.64%

16.33%

-14.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.09%

19.97%

-17.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.18%

19.97%

-17.79%

AITFX vs. JGRO - Expense Ratio Comparison

AITFX has a 0.33% expense ratio, which is lower than JGRO's 0.44% expense ratio.

Dividends

AITFX vs. JGRO - Dividend Comparison

AITFX's dividend yield for the trailing twelve months is around 3.63%, more than JGRO's 0.15% yield.

PositionTTM20252024202320222021202020192018201720162015
AITFX
Invesco Limited Term Municipal Income Fund		3.63%4.82%3.93%2.67%1.80%1.44%2.07%2.48%2.28%1.95%1.93%2.51%
JGRO
JPMorgan Active Growth ETF		0.15%0.16%0.10%0.17%0.16%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

AITFX and JGRO have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JGRO has higher volatility (6.34%) compared to AITFX (0.49%). In terms of maximum drawdown, AITFX dropped -7.17% vs JGRO's -22.70%.

AITFX currently has the higher Sharpe Ratio (3.04 vs 0.81), 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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