DTF vs. VCV
DTF (DTF Tax-Free Income 2028 Term Fund Inc.) and VCV (Invesco California Value Municipal Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, DTF returned 0.15%/yr vs 2.19%/yr for VCV. At a 0.24 correlation, their price movements are largely independent.
Performance
DTF vs. VCV - Performance Comparison
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Returns By Period
In the year-to-date period, DTF achieves a 1.89% return, which is significantly higher than VCV's -0.29% return. Over the past 10 years, DTF has underperformed VCV with an annualized return of 0.15%, while VCV has yielded a comparatively higher 2.19% annualized return.
DTF
- 1D
- 0.00%
- 1M
- 1.08%
- YTD
- 1.89%
- 6M
- 2.52%
- 1Y
- 5.98%
- 3Y*
- 5.83%
- 5Y*
- -1.70%
- 10Y*
- 0.15%
VCV
- 1D
- 0.47%
- 1M
- 2.62%
- YTD
- -0.29%
- 6M
- 3.14%
- 1Y
- 13.49%
- 3Y*
- 10.75%
- 5Y*
- 0.69%
- 10Y*
- 2.19%
DTF vs. VCV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DTF DTF Tax-Free Income 2028 Term Fund Inc. | 1.89% | 5.41% | 8.07% | 2.12% | -21.17% | 0.09% | 4.11% | 23.44% | -7.25% | 2.16% |
VCV Invesco California Value Municipal Income Trust | -0.29% | 9.44% | 18.62% | 7.91% | -28.40% | 9.65% | 7.85% | 18.63% | -5.27% | 9.01% |
Correlation
The correlation between DTF and VCV is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.24 |
The correlation between DTF and VCV shifts across timeframes, from 0.23 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
DTF:
$80.42M
VCV:
$515.35M
DTF:
$0.93
VCV:
$0.62
DTF:
12.24
VCV:
17.23
DTF:
14.39
VCV:
7.94
DTF:
0.94
VCV:
1.01
DTF:
$5.59M
VCV:
$64.85M
DTF:
$5.07M
VCV:
$46.46M
DTF:
$5.07M
VCV:
$58.08M
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Return for Risk
DTF vs. VCV — Risk / Return Rank
DTF
VCV
DTF vs. VCV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and Invesco California Value Municipal Income Trust (VCV). 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.
| DTF | VCV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 1.63 | +1.30 |
| Martin ratioReturn relative to average drawdown | 8.51 | 3.86 | +4.64 |
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Drawdowns
DTF vs. VCV - Drawdown Comparison
The maximum DTF drawdown since its inception was -37.49%, smaller than the maximum VCV drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for DTF and VCV.
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Drawdown Indicators
| DTF | VCV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.49% | -59.02% | +21.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -8.29% | +6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.42% | -16.99% | +11.57% |
Max Drawdown (5Y)Largest decline over 5 years | -25.73% | -38.55% | +12.82% |
Max Drawdown (10Y)Largest decline over 10 years | -25.73% | -38.55% | +12.82% |
Current DrawdownCurrent decline from peak | -9.27% | -3.08% | -6.19% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -8.56% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 3.50% | -2.79% |
Volatility
DTF vs. VCV - Volatility Comparison
DTF Tax-Free Income 2028 Term Fund Inc. (DTF) has a higher volatility of 1.71% compared to Invesco California Value Municipal Income Trust (VCV) at 1.38%. This indicates that DTF's price experiences larger fluctuations and is considered to be riskier than VCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DTF | VCV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 1.38% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 6.32% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.36% | 10.44% | -5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.08% | 12.91% | -4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.56% | 13.78% | -4.22% |
Dividends
DTF vs. VCV - Dividend Comparison
DTF's dividend yield for the trailing twelve months is around 3.41%, less than VCV's 7.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DTF DTF Tax-Free Income 2028 Term Fund Inc. | 3.41% | 3.42% | 3.48% | 3.63% | 3.57% | 4.35% | 3.22% | 2.98% | 5.48% | 4.95% | 6.53% | 5.81% |
VCV Invesco California Value Municipal Income Trust | 7.24% | 6.96% | 5.76% | 4.16% | 5.46% | 4.09% | 4.07% | 4.43% | 5.46% | 5.10% | 5.86% | 5.98% |
Financials
DTF vs. VCV - Financials Comparison
This section allows you to compare key financial metrics between DTF Tax-Free Income 2028 Term Fund Inc. and Invesco California Value Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
DTF and VCV have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DTF has higher volatility (1.71%) compared to VCV (1.38%). In terms of maximum drawdown, DTF dropped -37.49% vs VCV's -59.02%.
VCV currently has the higher Sharpe Ratio (1.30 vs 1.12), 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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