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FLMB vs. ACTHX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

Performance

FLMB vs. ACTHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty Federal Tax-Free Bond ETF (FLMB) and Invesco High Yield Municipal Fund (ACTHX). The values are adjusted to include any dividend payments, if applicable.

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FLMB vs. ACTHX - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
FLMB
Franklin Liberty Federal Tax-Free Bond ETF
-0.26%3.93%2.47%7.72%-12.16%0.80%7.39%8.90%0.43%0.63%
ACTHX
Invesco High Yield Municipal Fund
-0.69%4.38%5.54%4.34%-13.94%6.29%3.25%10.12%1.44%1.77%

Returns By Period

In the year-to-date period, FLMB achieves a -0.26% return, which is significantly higher than ACTHX's -0.69% return.


FLMB

1D
0.29%
1M
-2.56%
YTD
-0.26%
6M
1.58%
1Y
4.42%
3Y*
3.41%
5Y*
0.52%
10Y*

ACTHX

1D
0.37%
1M
-2.63%
YTD
-0.69%
6M
0.53%
1Y
2.42%
3Y*
3.60%
5Y*
0.51%
10Y*
2.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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FLMB vs. ACTHX - Expense Ratio Comparison

FLMB has a 0.30% expense ratio, which is lower than ACTHX's 1.39% expense ratio.


Return for Risk

FLMB vs. ACTHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLMB
FLMB Risk / Return Rank: 4040
Overall Rank
FLMB Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
FLMB Sortino Ratio Rank: 3737
Sortino Ratio Rank
FLMB Omega Ratio Rank: 4848
Omega Ratio Rank
FLMB Calmar Ratio Rank: 3838
Calmar Ratio Rank
FLMB Martin Ratio Rank: 3030
Martin Ratio Rank

ACTHX
ACTHX Risk / Return Rank: 2323
Overall Rank
ACTHX Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
ACTHX Sortino Ratio Rank: 2020
Sortino Ratio Rank
ACTHX Omega Ratio Rank: 3232
Omega Ratio Rank
ACTHX Calmar Ratio Rank: 2121
Calmar Ratio Rank
ACTHX Martin Ratio Rank: 1717
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.

FLMB vs. ACTHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Federal Tax-Free Bond ETF (FLMB) and Invesco High Yield Municipal Fund (ACTHX). 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.


FLMBACTHXDifference

Sharpe ratio

Return per unit of total volatility

0.82

0.56

+0.26

Sortino ratio

Return per unit of downside risk

1.07

0.82

+0.25

Omega ratio

Gain probability vs. loss probability

1.18

1.16

+0.02

Calmar ratio

Return relative to maximum drawdown

0.99

0.61

+0.37

Martin ratio

Return relative to average drawdown

2.57

1.70

+0.86

FLMB vs. ACTHX - Sharpe Ratio Comparison

The current FLMB Sharpe Ratio is 0.82, which is higher than the ACTHX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of FLMB and ACTHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


FLMBACTHXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.82

0.56

+0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.10

0.09

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

1.09

-0.71

Correlation

The correlation between FLMB and ACTHX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


Dividends

FLMB vs. ACTHX - Dividend Comparison

FLMB's dividend yield for the trailing twelve months is around 3.76%, less than ACTHX's 5.44% yield.


TTM20252024202320222021202020192018201720162015
FLMB
Franklin Liberty Federal Tax-Free Bond ETF
3.76%3.86%3.79%3.49%2.80%1.66%2.07%2.40%2.68%0.54%0.00%0.00%
ACTHX
Invesco High Yield Municipal Fund
5.44%7.14%5.64%4.22%4.72%3.95%4.33%4.70%4.78%4.71%5.11%4.93%

Drawdowns

FLMB vs. ACTHX - Drawdown Comparison

The maximum FLMB drawdown since its inception was -17.90%, smaller than the maximum ACTHX drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for FLMB and ACTHX.


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Drawdown Indicators


FLMBACTHXDifference

Max Drawdown

Largest peak-to-trough decline

-17.90%

-27.29%

+9.39%

Max Drawdown (1Y)

Largest decline over 1 year

-4.75%

-6.45%

+1.70%

Max Drawdown (5Y)

Largest decline over 5 years

-17.90%

-19.83%

+1.93%

Max Drawdown (10Y)

Largest decline over 10 years

-19.83%

Current Drawdown

Current decline from peak

-2.56%

-2.63%

+0.07%

Average Drawdown

Average peak-to-trough decline

-4.23%

-3.57%

-0.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

2.32%

-0.49%

Volatility

FLMB vs. ACTHX - Volatility Comparison

Franklin Liberty Federal Tax-Free Bond ETF (FLMB) has a higher volatility of 1.60% compared to Invesco High Yield Municipal Fund (ACTHX) at 1.24%. This indicates that FLMB's price experiences larger fluctuations and is considered to be riskier than ACTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


FLMBACTHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.60%

1.24%

+0.36%

Volatility (6M)

Calculated over the trailing 6-month period

2.16%

2.21%

-0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

5.39%

6.89%

-1.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.08%

5.67%

-0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.61%

5.36%

+0.25%