CHTRX vs. MUHLX
CHTRX (Invesco Charter Fund) and MUHLX (Muhlenkamp Fund) are both Large Cap Blend Equities funds. Over the past 10 years, CHTRX returned 11.28%/yr vs 10.89%/yr for MUHLX. Their correlation of 0.82 means they have usually moved in the same direction. CHTRX charges 1.03%/yr vs 1.14%/yr for MUHLX.
Performance
CHTRX vs. MUHLX - Performance Comparison
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Returns By Period
In the year-to-date period, CHTRX achieves a 9.32% return, which is significantly lower than MUHLX's 12.83% return. Both investments have delivered pretty close results over the past 10 years, with CHTRX having a 11.28% annualized return and MUHLX not far behind at 10.89%.
CHTRX
- 1D
- 1.26%
- 1M
- 3.41%
- 6M
- 9.53%
- YTD
- 9.32%
- 1Y
- 17.55%
- 3Y*
- 18.61%
- 5Y*
- 10.65%
- 10Y*
- 11.28%
- ALL TIME*
- 7.75%
MUHLX
- 1D
- 1.18%
- 1M
- 3.54%
- 6M
- 3.31%
- YTD
- 12.83%
- 1Y
- 23.04%
- 3Y*
- 11.88%
- 5Y*
- 11.85%
- 10Y*
- 10.89%
- ALL TIME*
- 9.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CHTRX Invesco Charter Fund | $0.00 | $0.00 | $0.00 |
MUHLX Muhlenkamp Fund | $0.00 | $0.00 | $0.00 |
CHTRX vs. MUHLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHTRX Invesco Charter Fund | 9.32% | 16.02% | 25.31% | 23.03% | -20.75% | 27.21% | 13.53% | 27.95% | -9.82% | 13.24% |
MUHLX Muhlenkamp Fund | 12.83% | 17.82% | 3.38% | 13.92% | 2.89% | 28.98% | 11.96% | 14.39% | -13.29% | 18.78% |
Correlation
The correlation between CHTRX and MUHLX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 1988 | 0.82 |
Over the past year, the correlation between CHTRX and MUHLX has dropped to 0.59 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
CHTRX vs. MUHLX — Risk / Return Rank
CHTRX
MUHLX
CHTRX vs. MUHLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Charter Fund (CHTRX) and Muhlenkamp Fund (MUHLX). 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.
| CHTRX | MUHLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.38 | -0.81 |
| Martin ratioReturn relative to average drawdown | 6.42 | 7.00 | -0.58 |
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Drawdowns
CHTRX vs. MUHLX - Drawdown Comparison
The maximum CHTRX drawdown since its inception was -56.30%, smaller than the maximum MUHLX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for CHTRX and MUHLX.
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Drawdown Indicators
| CHTRX | MUHLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.30% | -62.05% | +5.75% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -10.23% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -18.50% | -18.63% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.77% | -18.63% | -8.14% |
Max Drawdown (10Y)Largest decline over 10 years | -41.18% | -40.85% | -0.33% |
Current DrawdownCurrent decline from peak | 0.00% | -2.43% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -13.24% | -10.75% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 3.47% | -0.85% |
Volatility
CHTRX vs. MUHLX - Volatility Comparison
Invesco Charter Fund (CHTRX) has a higher volatility of 4.15% compared to Muhlenkamp Fund (MUHLX) at 2.86%. This indicates that CHTRX's price experiences larger fluctuations and is considered to be riskier than MUHLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHTRX | MUHLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 2.86% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 10.52% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.15% | 14.45% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 14.48% | +2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 17.05% | +2.13% |
CHTRX vs. MUHLX - Expense Ratio Comparison
CHTRX has a 1.03% expense ratio, which is lower than MUHLX's 1.14% expense ratio.
Dividends
CHTRX vs. MUHLX - Dividend Comparison
CHTRX's dividend yield for the trailing twelve months is around 6.61%, more than MUHLX's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHTRX Invesco Charter Fund | 6.61% | 7.22% | 7.91% | 6.24% | 4.25% | 16.30% | 2.35% | 17.60% | 11.71% | 6.92% | 10.39% | 14.54% |
MUHLX Muhlenkamp Fund | 2.96% | 3.34% | 0.58% | 0.89% | 6.80% | 7.77% | 10.28% | 1.26% | 14.70% | 4.30% | 0.00% | 11.02% |
Frequently Asked Questions
CHTRX and MUHLX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHTRX has higher volatility (4.15%) compared to MUHLX (2.86%). In terms of maximum drawdown, CHTRX dropped -56.30% vs MUHLX's -62.05%.
MUHLX currently has the higher Sharpe Ratio (1.69 vs 1.29), 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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