ISHYX vs. VAFAX
Compare and contrast key facts about Invesco Short Duration High Yield Municipal Fund (ISHYX) and Invesco American Franchise Fund Class A (VAFAX).
ISHYX is managed by Invesco. It was launched on Sep 29, 2015. VAFAX is managed by Invesco. It was launched on Jun 23, 2005.
Performance
ISHYX vs. VAFAX - Performance Comparison
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ISHYX vs. VAFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHYX Invesco Short Duration High Yield Municipal Fund | 0.35% | 3.92% | 6.43% | 3.58% | -8.99% | 5.96% | -0.31% | 7.84% | 2.27% | 8.04% |
VAFAX Invesco American Franchise Fund Class A | -9.70% | 11.86% | 34.78% | 40.91% | -31.20% | 11.13% | 42.15% | 36.55% | -3.99% | 27.11% |
Returns By Period
In the year-to-date period, ISHYX achieves a 0.35% return, which is significantly higher than VAFAX's -9.70% return. Over the past 10 years, ISHYX has underperformed VAFAX with an annualized return of 2.86%, while VAFAX has yielded a comparatively higher 13.99% annualized return.
ISHYX
- 1D
- 0.21%
- 1M
- -1.37%
- YTD
- 0.35%
- 6M
- 2.07%
- 1Y
- 3.52%
- 3Y*
- 4.22%
- 5Y*
- 1.70%
- 10Y*
- 2.86%
VAFAX
- 1D
- 4.44%
- 1M
- -5.93%
- YTD
- -9.70%
- 6M
- -12.22%
- 1Y
- 14.68%
- 3Y*
- 19.34%
- 5Y*
- 7.06%
- 10Y*
- 13.99%
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ISHYX vs. VAFAX - Expense Ratio Comparison
ISHYX has a 0.59% expense ratio, which is lower than VAFAX's 0.95% expense ratio.
Return for Risk
ISHYX vs. VAFAX — Risk / Return Rank
ISHYX
VAFAX
ISHYX vs. VAFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration High Yield Municipal Fund (ISHYX) and Invesco American Franchise Fund Class A (VAFAX). 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 | VAFAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.63 | +0.36 |
Sortino ratioReturn per unit of downside risk | 1.35 | 1.06 | +0.30 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.15 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 0.65 | +0.59 |
Martin ratioReturn relative to average drawdown | 3.93 | 2.03 | +1.90 |
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 | VAFAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 0.63 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.31 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.63 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.53 | +0.38 |
Correlation
The correlation between ISHYX and VAFAX is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ISHYX vs. VAFAX - Dividend Comparison
ISHYX's dividend yield for the trailing twelve months is around 4.29%, less than VAFAX's 15.61% 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% |
VAFAX Invesco American Franchise Fund Class A | 15.61% | 14.09% | 3.74% | 0.00% | 8.32% | 26.50% | 8.78% | 6.85% | 10.42% | 5.37% | 4.08% | 4.90% |
Drawdowns
ISHYX vs. VAFAX - Drawdown Comparison
The maximum ISHYX drawdown since its inception was -13.64%, smaller than the maximum VAFAX drawdown of -48.48%. Use the drawdown chart below to compare losses from any high point for ISHYX and VAFAX.
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Drawdown Indicators
| ISHYX | VAFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.64% | -48.48% | +34.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -19.27% | +15.48% |
Max Drawdown (5Y)Largest decline over 5 years | -12.03% | -38.86% | +26.83% |
Max Drawdown (10Y)Largest decline over 10 years | -13.64% | -38.86% | +25.22% |
Current DrawdownCurrent decline from peak | -1.58% | -15.69% | +14.11% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -8.16% | +5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 6.14% | -4.94% |
Volatility
ISHYX vs. VAFAX - Volatility Comparison
The current volatility for Invesco Short Duration High Yield Municipal Fund (ISHYX) is 0.73%, while Invesco American Franchise Fund Class A (VAFAX) has a volatility of 8.31%. This indicates that ISHYX experiences smaller price fluctuations and is considered to be less risky than VAFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISHYX | VAFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 8.31% | -7.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 15.69% | -14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 25.39% | -21.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.06% | 23.03% | -19.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 22.23% | -18.91% |