IMSI vs. FLMI
Compare and contrast key facts about Invesco Municipal Strategic Income ETF (IMSI) and Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI).
IMSI and FLMI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMSI is an actively managed fund by Invesco. It was launched on Dec 5, 2022. FLMI is an actively managed fund by Franklin Templeton. It was launched on Aug 31, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IMSI or FLMI.
Key characteristics
| IMSI | FLMI | |
|---|---|---|
| YTD Return | 4.59% | 5.09% |
| 1Y Return | 10.13% | 11.56% |
| Sharpe Ratio | 3.14 | 2.63 |
| Sortino Ratio | 4.81 | 3.98 |
| Omega Ratio | 1.67 | 1.57 |
| Calmar Ratio | 3.72 | 1.27 |
| Martin Ratio | 23.38 | 20.14 |
| Ulcer Index | 0.43% | 0.57% |
| Daily Std Dev | 3.17% | 4.40% |
| Max Drawdown | -4.79% | -14.66% |
| Current Drawdown | -0.57% | -1.07% |
Correlation
The correlation between IMSI and FLMI is 0.76, 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
IMSI vs. FLMI - Performance Comparison
In the year-to-date period, IMSI achieves a 4.59% return, which is significantly lower than FLMI's 5.09% 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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IMSI vs. FLMI - Expense Ratio Comparison
IMSI has a 0.39% expense ratio, which is higher than FLMI's 0.30% expense ratio.
Risk-Adjusted Performance
IMSI vs. FLMI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Strategic Income ETF (IMSI) and Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI). 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
IMSI vs. FLMI - Dividend Comparison
IMSI's dividend yield for the trailing twelve months is around 4.05%, which matches FLMI's 4.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
IMSI Invesco Municipal Strategic Income ETF | 4.05% | 4.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 4.04% | 3.71% | 3.09% | 2.22% | 2.09% | 2.71% | 2.41% | 0.00% |
Drawdowns
IMSI vs. FLMI - Drawdown Comparison
The maximum IMSI drawdown since its inception was -4.79%, smaller than the maximum FLMI drawdown of -14.66%. Use the drawdown chart below to compare losses from any high point for IMSI and FLMI. For additional features, visit the drawdowns tool.
Volatility
IMSI vs. FLMI - Volatility Comparison
The current volatility for Invesco Municipal Strategic Income ETF (IMSI) is 1.42%, while Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) has a volatility of 1.93%. This indicates that IMSI experiences smaller price fluctuations and is considered to be less risky than FLMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.