ISHYX vs. NVHIX
Compare and contrast key facts about Invesco Short Duration High Yield Municipal Fund (ISHYX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX).
ISHYX is managed by Invesco. It was launched on Sep 29, 2015. NVHIX is managed by Nuveen. It was launched on Jan 31, 2013.
Performance
ISHYX vs. NVHIX - Performance Comparison
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ISHYX vs. NVHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHYX Invesco Short Duration High Yield Municipal Fund | 0.13% | 3.92% | 6.43% | 3.58% | -8.99% | 5.96% | -0.31% | 7.84% | 2.27% | 8.04% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | -0.04% | 2.43% | 6.88% | 3.54% | -6.73% | 8.44% | -0.10% | 8.27% | 3.47% | 8.17% |
Returns By Period
In the year-to-date period, ISHYX achieves a 0.13% return, which is significantly higher than NVHIX's -0.04% return. Over the past 10 years, ISHYX has underperformed NVHIX with an annualized return of 2.84%, while NVHIX has yielded a comparatively higher 3.17% annualized return.
ISHYX
- 1D
- 0.11%
- 1M
- -1.79%
- YTD
- 0.13%
- 6M
- 1.85%
- 1Y
- 3.51%
- 3Y*
- 4.15%
- 5Y*
- 1.66%
- 10Y*
- 2.84%
NVHIX
- 1D
- 0.00%
- 1M
- -1.79%
- YTD
- -0.04%
- 6M
- 0.91%
- 1Y
- 1.94%
- 3Y*
- 3.86%
- 5Y*
- 2.17%
- 10Y*
- 3.17%
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ISHYX vs. NVHIX - Expense Ratio Comparison
ISHYX has a 0.59% expense ratio, which is higher than NVHIX's 0.55% expense ratio.
Return for Risk
ISHYX vs. NVHIX — Risk / Return Rank
ISHYX
NVHIX
ISHYX vs. NVHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration High Yield Municipal Fund (ISHYX) and Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX). 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.
| ISHYX | NVHIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 0.67 | +0.43 |
Sortino ratioReturn per unit of downside risk | 1.49 | 0.92 | +0.57 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.19 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.68 | +0.44 |
Martin ratioReturn relative to average drawdown | 3.57 | 2.00 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ISHYX | NVHIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.67 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.66 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.92 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 1.08 | -0.18 |
Correlation
The correlation between ISHYX and NVHIX is 0.69, 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
ISHYX vs. NVHIX - Dividend Comparison
ISHYX's dividend yield for the trailing twelve months is around 4.29%, less than NVHIX's 4.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHYX Invesco Short Duration High Yield Municipal Fund | 4.29% | 4.65% | 4.40% | 3.38% | 3.99% | 3.58% | 3.58% | 3.45% | 3.59% | 3.51% | 3.60% | 0.00% |
NVHIX Nuveen Short Duration High Yield Municipal Bond Fund | 4.70% | 5.15% | 4.36% | 4.41% | 3.84% | 3.43% | 3.90% | 4.03% | 3.90% | 3.78% | 3.62% | 3.55% |
Drawdowns
ISHYX vs. NVHIX - Drawdown Comparison
The maximum ISHYX drawdown since its inception was -13.64%, roughly equal to the maximum NVHIX drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for ISHYX and NVHIX.
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Drawdown Indicators
| ISHYX | NVHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.64% | -13.54% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -3.63% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -12.03% | -10.54% | -1.49% |
Max Drawdown (10Y)Largest decline over 10 years | -13.64% | -13.54% | -0.10% |
Current DrawdownCurrent decline from peak | -1.79% | -1.79% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -2.06% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.25% | -0.06% |
Volatility
ISHYX vs. NVHIX - Volatility Comparison
Invesco Short Duration High Yield Municipal Fund (ISHYX) has a higher volatility of 0.68% compared to Nuveen Short Duration High Yield Municipal Bond Fund (NVHIX) at 0.63%. This indicates that ISHYX's price experiences larger fluctuations and is considered to be riskier than NVHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISHYX | NVHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.63% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.40% | 1.43% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.77% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 3.32% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.33% | 3.47% | -0.14% |