LTNYX vs. VADDX
LTNYX (Invesco Rochester Limited Term New York Municipal Fund) and VADDX (Invesco Equally-Weighted S&P 500 Fund) are both mutual funds - LTNYX is a Municipal Bonds fund managed by Invesco, while VADDX is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 10 years, LTNYX returned 2.15%/yr vs 11.61%/yr for VADDX. Their -0.03 correlation means they have often moved in opposite directions in the past. LTNYX charges 0.75%/yr vs 0.27%/yr for VADDX.
Performance
LTNYX vs. VADDX - Performance Comparison
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Returns By Period
In the year-to-date period, LTNYX achieves a 0.15% return, which is significantly lower than VADDX's 13.28% return. Over the past 10 years, LTNYX has underperformed VADDX with an annualized return of 2.15%, while VADDX has yielded a comparatively higher 11.61% annualized return.
LTNYX
- 1D
- 0.00%
- 1M
- -1.42%
- 6M
- -0.56%
- YTD
- 0.15%
- 1Y
- 2.89%
- 3Y*
- 3.10%
- 5Y*
- 0.76%
- 10Y*
- 2.15%
- ALL TIME*
- 3.58%
VADDX
- 1D
- -0.19%
- 1M
- 0.16%
- 6M
- 9.58%
- YTD
- 13.28%
- 1Y
- 20.46%
- 3Y*
- 13.37%
- 5Y*
- 8.79%
- 10Y*
- 11.61%
- ALL TIME*
- 9.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LTNYX vs. VADDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTNYX Invesco Rochester Limited Term New York Municipal Fund | 0.15% | 4.23% | 3.40% | 3.70% | -7.40% | 2.67% | 3.32% | 7.28% | 10.39% | -3.51% |
VADDX Invesco Equally-Weighted S&P 500 Fund | 13.28% | 11.16% | 12.68% | 13.58% | -11.86% | 29.27% | 12.56% | 28.92% | -7.96% | 18.55% |
Correlation
The correlation between LTNYX and VADDX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 1997 | -0.03 |
The correlation between LTNYX and VADDX shifts across timeframes, from -0.03 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LTNYX vs. VADDX — Risk / Return Rank
LTNYX
VADDX
LTNYX vs. VADDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester Limited Term New York Municipal Fund (LTNYX) and Invesco Equally-Weighted S&P 500 Fund (VADDX). 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.
| LTNYX | VADDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.27 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.31 | -0.06 |
| Martin ratioReturn relative to average drawdown | 7.56 | 8.94 | -1.38 |
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Drawdowns
LTNYX vs. VADDX - Drawdown Comparison
The maximum LTNYX drawdown since its inception was -13.78%, smaller than the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for LTNYX and VADDX.
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Drawdown Indicators
| LTNYX | VADDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.78% | -60.12% | +46.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.77% | -7.88% | +6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -3.36% | -17.86% | +14.50% |
Max Drawdown (5Y)Largest decline over 5 years | -10.76% | -21.58% | +10.82% |
Max Drawdown (10Y)Largest decline over 10 years | -10.76% | -39.39% | +28.63% |
Current DrawdownCurrent decline from peak | -1.42% | -1.06% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -6.97% | +5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 2.06% | -1.55% |
Volatility
LTNYX vs. VADDX - Volatility Comparison
The current volatility for Invesco Rochester Limited Term New York Municipal Fund (LTNYX) is 0.84%, while Invesco Equally-Weighted S&P 500 Fund (VADDX) has a volatility of 2.88%. This indicates that LTNYX experiences smaller price fluctuations and is considered to be less risky than VADDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTNYX | VADDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 2.88% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 8.56% | -6.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 11.79% | -8.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.49% | 16.25% | -12.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.57% | 18.46% | -14.89% |
LTNYX vs. VADDX - Expense Ratio Comparison
LTNYX has a 0.75% expense ratio, which is higher than VADDX's 0.27% expense ratio.
Dividends
LTNYX vs. VADDX - Dividend Comparison
LTNYX's dividend yield for the trailing twelve months is around 2.14%, less than VADDX's 8.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTNYX Invesco Rochester Limited Term New York Municipal Fund | 2.14% | 3.74% | 3.71% | 2.54% | 2.31% | 2.96% | 2.89% | 3.35% | 3.16% | 3.24% | 3.71% | 3.94% |
VADDX Invesco Equally-Weighted S&P 500 Fund | 8.91% | 10.09% | 8.88% | 4.86% | 8.45% | 9.92% | 6.38% | 4.68% | 7.13% | 2.97% | 0.30% | 2.98% |
Frequently Asked Questions
LTNYX and VADDX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VADDX has higher volatility (2.88%) compared to LTNYX (0.84%). In terms of maximum drawdown, LTNYX dropped -13.78% vs VADDX's -60.12%.
VADDX currently has the higher Sharpe Ratio (1.55 vs 1.41), 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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