IIM vs. VMO
IIM (Invesco Value Municipal Income Trust) and VMO (Invesco Municipal Opportunity Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, IIM returned 2.22%/yr vs 1.68%/yr for VMO. At a 0.39 correlation, their price movements are largely independent.
Performance
IIM vs. VMO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IIM having a 6.36% return and VMO slightly higher at 6.41%. Over the past 10 years, IIM has outperformed VMO with an annualized return of 2.22%, while VMO has yielded a comparatively lower 1.68% annualized return.
IIM
- 1D
- 0.56%
- 1M
- 5.37%
- YTD
- 6.36%
- 6M
- 8.03%
- 1Y
- 17.54%
- 3Y*
- 9.76%
- 5Y*
- 0.80%
- 10Y*
- 2.22%
VMO
- 1D
- 0.00%
- 1M
- 3.39%
- YTD
- 6.41%
- 6M
- 6.52%
- 1Y
- 17.07%
- 3Y*
- 8.53%
- 5Y*
- -0.47%
- 10Y*
- 1.68%
IIM vs. VMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIM Invesco Value Municipal Income Trust | 6.36% | 11.88% | 8.04% | 2.05% | -25.41% | 14.13% | 7.07% | 18.79% | -4.40% | 7.05% |
VMO Invesco Municipal Opportunity Trust | 6.41% | 6.57% | 7.73% | 1.54% | -24.29% | 12.95% | 8.89% | 16.23% | -4.54% | 3.05% |
Correlation
The correlation between IIM and VMO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.39 |
The correlation between IIM and VMO shifts across timeframes, from 0.39 (all time) to 0.68 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
IIM:
$594.55M
VMO:
$660.92M
IIM:
$0.85
VMO:
$0.64
IIM:
14.85
VMO:
15.39
IIM:
0.08
VMO:
0.16
IIM:
8.14
VMO:
7.98
IIM:
1.00
VMO:
0.96
IIM:
$73.01M
VMO:
$82.85M
IIM:
$54.83M
VMO:
$58.54M
IIM:
$51.93M
VMO:
$58.61M
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Return for Risk
IIM vs. VMO — Risk / Return Rank
IIM
VMO
IIM vs. VMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Value Municipal Income Trust (IIM) and Invesco Municipal Opportunity Trust (VMO). 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.
| IIM | VMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.36 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.60 | -0.69 |
| Martin ratioReturn relative to average drawdown | 5.80 | 9.97 | -4.17 |
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Drawdowns
IIM vs. VMO - Drawdown Comparison
The maximum IIM drawdown since its inception was -40.17%, smaller than the maximum VMO drawdown of -50.11%. Use the drawdown chart below to compare losses from any high point for IIM and VMO.
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Drawdown Indicators
| IIM | VMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.17% | -50.11% | +9.94% |
Max Drawdown (1Y)Largest decline over 1 year | -9.19% | -6.59% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -16.20% | -16.51% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -37.70% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -35.75% | -37.70% | +1.95% |
Current DrawdownCurrent decline from peak | -2.13% | -6.48% | +4.35% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -9.86% | +2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 1.72% | +1.31% |
Volatility
IIM vs. VMO - Volatility Comparison
The current volatility for Invesco Value Municipal Income Trust (IIM) is 2.42%, while Invesco Municipal Opportunity Trust (VMO) has a volatility of 2.80%. This indicates that IIM experiences smaller price fluctuations and is considered to be less risky than VMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIM | VMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 2.80% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 6.99% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 8.95% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.48% | 11.56% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 12.69% | +0.16% |
Dividends
IIM vs. VMO - Dividend Comparison
IIM's dividend yield for the trailing twelve months is around 7.33%, less than VMO's 7.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIM Invesco Value Municipal Income Trust | 7.33% | 7.51% | 6.58% | 4.72% | 5.87% | 4.51% | 4.48% | 4.61% | 5.43% | 4.99% | 5.52% | 5.20% |
VMO Invesco Municipal Opportunity Trust | 7.65% | 7.84% | 6.44% | 4.47% | 5.69% | 4.64% | 4.66% | 4.94% | 5.95% | 5.98% | 6.73% | 6.33% |
Financials
IIM vs. VMO - Financials Comparison
This section allows you to compare key financial metrics between Invesco Value Municipal Income Trust and Invesco Municipal Opportunity 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
IIM and VMO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMO has higher volatility (2.80%) compared to IIM (2.42%). In terms of maximum drawdown, IIM dropped -40.17% vs VMO's -50.11%.
VMO currently has the higher Sharpe Ratio (1.91 vs 1.66), 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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