FMHI vs. IMSI
Compare and contrast key facts about First Trust Municipal High Income ETF (FMHI) and Invesco Municipal Strategic Income ETF (IMSI).
FMHI and IMSI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMHI is an actively managed fund by First Trust. It was launched on Nov 1, 2017. IMSI is an actively managed fund by Invesco. It was launched on Dec 5, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMHI or IMSI.
Key characteristics
| FMHI | IMSI | |
|---|---|---|
| YTD Return | 5.86% | 4.59% |
| 1Y Return | 12.87% | 10.13% |
| Sharpe Ratio | 2.74 | 3.14 |
| Sortino Ratio | 4.05 | 4.81 |
| Omega Ratio | 1.59 | 1.67 |
| Calmar Ratio | 0.85 | 3.72 |
| Martin Ratio | 19.66 | 23.38 |
| Ulcer Index | 0.62% | 0.43% |
| Daily Std Dev | 4.42% | 3.17% |
| Max Drawdown | -18.83% | -4.79% |
| Current Drawdown | -3.17% | -0.57% |
Correlation
The correlation between FMHI and IMSI is 0.83, 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.
Performance
FMHI vs. IMSI - Performance Comparison
In the year-to-date period, FMHI achieves a 5.86% return, which is significantly higher than IMSI's 4.59% 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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FMHI vs. IMSI - Expense Ratio Comparison
FMHI has a 0.55% expense ratio, which is higher than IMSI's 0.39% expense ratio.
Risk-Adjusted Performance
FMHI vs. IMSI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Municipal High Income ETF (FMHI) and Invesco Municipal Strategic Income ETF (IMSI). 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
FMHI vs. IMSI - Dividend Comparison
FMHI's dividend yield for the trailing twelve months is around 3.94%, less than IMSI's 4.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FMHI First Trust Municipal High Income ETF | 3.94% | 3.90% | 3.58% | 2.87% | 3.13% | 3.33% | 3.46% | 0.30% |
IMSI Invesco Municipal Strategic Income ETF | 4.05% | 4.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMHI vs. IMSI - Drawdown Comparison
The maximum FMHI drawdown since its inception was -18.83%, which is greater than IMSI's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for FMHI and IMSI. For additional features, visit the drawdowns tool.
Volatility
FMHI vs. IMSI - Volatility Comparison
First Trust Municipal High Income ETF (FMHI) has a higher volatility of 2.00% compared to Invesco Municipal Strategic Income ETF (IMSI) at 1.42%. This indicates that FMHI's price experiences larger fluctuations and is considered to be riskier than IMSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.