BAB vs. GBAB
Compare and contrast key facts about Invesco Taxable Municipal Bond ETF (BAB) and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB).
BAB is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Build America Bond Index. It was launched on Nov 17, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BAB or GBAB.
Key characteristics
| BAB | GBAB | |
|---|---|---|
| YTD Return | 1.81% | 6.45% |
| 1Y Return | 8.36% | 13.07% |
| 3Y Return (Ann) | -3.57% | -4.30% |
| 5Y Return (Ann) | -0.40% | 0.05% |
| 10Y Return (Ann) | 2.59% | 4.37% |
| Sharpe Ratio | 0.99 | 0.98 |
| Sortino Ratio | 1.48 | 1.54 |
| Omega Ratio | 1.18 | 1.17 |
| Calmar Ratio | 0.40 | 0.49 |
| Martin Ratio | 3.39 | 2.84 |
| Ulcer Index | 2.26% | 4.59% |
| Daily Std Dev | 7.73% | 13.32% |
| Max Drawdown | -27.80% | -35.81% |
| Current Drawdown | -12.31% | -17.33% |
Correlation
The correlation between BAB and GBAB is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BAB vs. GBAB - Performance Comparison
In the year-to-date period, BAB achieves a 1.81% return, which is significantly lower than GBAB's 6.45% return. Over the past 10 years, BAB has underperformed GBAB with an annualized return of 2.59%, while GBAB has yielded a comparatively higher 4.37% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
BAB vs. GBAB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Taxable Municipal Bond ETF (BAB) and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB). 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
BAB vs. GBAB - Dividend Comparison
BAB's dividend yield for the trailing twelve months is around 3.88%, less than GBAB's 9.46% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAB Invesco Taxable Municipal Bond ETF | 3.88% | 3.66% | 3.40% | 2.63% | 2.96% | 3.77% | 4.20% | 3.96% | 4.27% | 4.71% | 4.59% | 5.19% |
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust | 9.46% | 9.34% | 9.24% | 6.37% | 5.93% | 6.39% | 6.89% | 6.65% | 7.51% | 7.77% | 7.47% | 8.31% |
Drawdowns
BAB vs. GBAB - Drawdown Comparison
The maximum BAB drawdown since its inception was -27.80%, smaller than the maximum GBAB drawdown of -35.81%. Use the drawdown chart below to compare losses from any high point for BAB and GBAB. For additional features, visit the drawdowns tool.
Volatility
BAB vs. GBAB - Volatility Comparison
The current volatility for Invesco Taxable Municipal Bond ETF (BAB) is 1.78%, while Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) has a volatility of 3.44%. This indicates that BAB experiences smaller price fluctuations and is considered to be less risky than GBAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.