IVRA vs. SMMU
Compare and contrast key facts about Invesco Real Assets ESG ETF (IVRA) and PIMCO Short Term Municipal Bond Active ETF (SMMU).
IVRA and SMMU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVRA is an actively managed fund by Invesco. It was launched on Dec 22, 2020. SMMU is an actively managed fund by PIMCO. It was launched on Feb 1, 2010.
Performance
IVRA vs. SMMU - Performance Comparison
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IVRA vs. SMMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IVRA Invesco Real Assets ESG ETF | 11.70% | 10.20% | 13.07% | 9.13% | -10.00% | 32.74% | 1.58% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 0.49% | 4.06% | 2.68% | 4.39% | -2.45% | 0.17% | 0.23% |
Returns By Period
In the year-to-date period, IVRA achieves a 11.70% return, which is significantly higher than SMMU's 0.49% return.
IVRA
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 11.70%
- 6M
- 10.98%
- 1Y
- 16.21%
- 3Y*
- 14.07%
- 5Y*
- 9.85%
- 10Y*
- —
SMMU
- 1D
- 0.08%
- 1M
- -0.63%
- YTD
- 0.49%
- 6M
- 1.19%
- 1Y
- 3.72%
- 3Y*
- 3.41%
- 5Y*
- 1.85%
- 10Y*
- 1.80%
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IVRA vs. SMMU - Expense Ratio Comparison
IVRA has a 0.59% expense ratio, which is higher than SMMU's 0.35% expense ratio.
Return for Risk
IVRA vs. SMMU — Risk / Return Rank
IVRA
SMMU
IVRA vs. SMMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Real Assets ESG ETF (IVRA) and PIMCO Short Term Municipal Bond Active ETF (SMMU). 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.
| IVRA | SMMU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 2.10 | -0.94 |
Sortino ratioReturn per unit of downside risk | 1.65 | 2.53 | -0.87 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.59 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.03 | -0.68 |
Martin ratioReturn relative to average drawdown | 7.55 | 10.49 | -2.94 |
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
| IVRA | SMMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 2.10 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 1.11 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.59 | +0.15 |
Correlation
The correlation between IVRA and SMMU is 0.20, 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
IVRA vs. SMMU - Dividend Comparison
IVRA's dividend yield for the trailing twelve months is around 17.39%, more than SMMU's 2.79% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVRA Invesco Real Assets ESG ETF | 17.39% | 5.68% | 3.71% | 2.47% | 2.30% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.79% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
Drawdowns
IVRA vs. SMMU - Drawdown Comparison
The maximum IVRA drawdown since its inception was -25.99%, which is greater than SMMU's maximum drawdown of -5.09%. Use the drawdown chart below to compare losses from any high point for IVRA and SMMU.
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Drawdown Indicators
| IVRA | SMMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.99% | -5.09% | -20.90% |
Max Drawdown (1Y)Largest decline over 1 year | -12.39% | -1.95% | -10.44% |
Max Drawdown (5Y)Largest decline over 5 years | -25.99% | -4.76% | -21.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.09% | — |
Current DrawdownCurrent decline from peak | -0.92% | -0.63% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -0.55% | -6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 0.38% | +1.85% |
Volatility
IVRA vs. SMMU - Volatility Comparison
The current volatility for Invesco Real Assets ESG ETF (IVRA) is 0.00%, while PIMCO Short Term Municipal Bond Active ETF (SMMU) has a volatility of 0.53%. This indicates that IVRA experiences smaller price fluctuations and is considered to be less risky than SMMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVRA | SMMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.53% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.18% | 0.74% | +6.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.14% | 1.79% | +12.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.73% | 1.67% | +15.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.66% | 2.75% | +13.91% |