BCHYX vs. OPCAX
Compare and contrast key facts about American Century California High Yield Municipal Fund (BCHYX) and Invesco California Municipal Fund (OPCAX).
BCHYX is managed by American Century. It was launched on Dec 29, 1986. OPCAX is managed by Invesco. It was launched on Nov 2, 1988.
Performance
BCHYX vs. OPCAX - Performance Comparison
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BCHYX vs. OPCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | -0.38% | 3.48% | 4.07% | 6.69% | -12.77% | 3.82% | 3.95% | 9.92% | 0.65% | 8.50% |
OPCAX Invesco California Municipal Fund | -1.27% | 2.59% | 2.86% | 6.86% | -12.10% | 3.56% | 6.07% | 10.31% | 6.59% | 4.47% |
Returns By Period
In the year-to-date period, BCHYX achieves a -0.38% return, which is significantly higher than OPCAX's -1.27% return. Over the past 10 years, BCHYX has underperformed OPCAX with an annualized return of 2.39%, while OPCAX has yielded a comparatively higher 2.95% annualized return.
BCHYX
- 1D
- 0.42%
- 1M
- -2.05%
- YTD
- -0.38%
- 6M
- 1.36%
- 1Y
- 3.49%
- 3Y*
- 3.71%
- 5Y*
- 0.66%
- 10Y*
- 2.39%
OPCAX
- 1D
- 0.39%
- 1M
- -2.38%
- YTD
- -1.27%
- 6M
- -0.54%
- 1Y
- 1.04%
- 3Y*
- 2.60%
- 5Y*
- 0.21%
- 10Y*
- 2.95%
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BCHYX vs. OPCAX - Expense Ratio Comparison
BCHYX has a 0.49% expense ratio, which is lower than OPCAX's 0.75% expense ratio.
Return for Risk
BCHYX vs. OPCAX — Risk / Return Rank
BCHYX
OPCAX
BCHYX vs. OPCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century California High Yield Municipal Fund (BCHYX) and Invesco California Municipal Fund (OPCAX). 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.
| BCHYX | OPCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 0.25 | +0.41 |
Sortino ratioReturn per unit of downside risk | 0.93 | 0.38 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.07 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.78 | 0.11 | +0.67 |
Martin ratioReturn relative to average drawdown | 2.32 | 0.27 | +2.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCHYX | OPCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.25 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.04 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.59 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.19 | 0.95 | +0.23 |
Correlation
The correlation between BCHYX and OPCAX is 0.75, 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.
Dividends
BCHYX vs. OPCAX - Dividend Comparison
BCHYX's dividend yield for the trailing twelve months is around 4.34%, more than OPCAX's 2.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCHYX American Century California High Yield Municipal Fund | 4.34% | 4.58% | 4.41% | 3.67% | 2.55% | 2.57% | 3.07% | 3.50% | 3.52% | 3.50% | 3.59% | 3.67% |
OPCAX Invesco California Municipal Fund | 2.78% | 4.76% | 4.19% | 3.06% | 2.86% | 3.05% | 3.15% | 3.64% | 3.71% | 4.59% | 4.92% | 5.48% |
Drawdowns
BCHYX vs. OPCAX - Drawdown Comparison
The maximum BCHYX drawdown since its inception was -18.35%, smaller than the maximum OPCAX drawdown of -47.36%. Use the drawdown chart below to compare losses from any high point for BCHYX and OPCAX.
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Drawdown Indicators
| BCHYX | OPCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.35% | -47.36% | +29.01% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -6.37% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -18.35% | -18.53% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -18.35% | -18.53% | +0.18% |
Current DrawdownCurrent decline from peak | -2.35% | -2.63% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -4.32% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.81% | -0.88% |
Volatility
BCHYX vs. OPCAX - Volatility Comparison
The current volatility for American Century California High Yield Municipal Fund (BCHYX) is 1.24%, while Invesco California Municipal Fund (OPCAX) has a volatility of 1.49%. This indicates that BCHYX experiences smaller price fluctuations and is considered to be less risky than OPCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCHYX | OPCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.49% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 2.66% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 6.95% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 5.40% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 5.10% | -0.31% |