OOSAX vs. MTUM
OOSAX (Invesco Senior Floating Rate Fund) and MTUM (iShares MSCI USA Momentum Factor ETF) are both funds - OOSAX is a Bank Loan fund managed by Invesco, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. Over the past 10 years, OOSAX returned 3.67%/yr vs 17.49%/yr for MTUM. At a 0.18 correlation, their price movements are largely independent. OOSAX charges 1.04%/yr vs 0.15%/yr for MTUM.
Performance
OOSAX vs. MTUM - Performance Comparison
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Returns By Period
In the year-to-date period, OOSAX achieves a -0.83% return, which is significantly lower than MTUM's 32.00% return. Over the past 10 years, OOSAX has underperformed MTUM with an annualized return of 3.67%, while MTUM has yielded a comparatively higher 17.49% annualized return.
OOSAX
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- -0.83%
- 6M
- -0.19%
- 1Y
- 1.63%
- 3Y*
- 5.66%
- 5Y*
- 4.85%
- 10Y*
- 3.67%
MTUM
- 1D
- -4.48%
- 1M
- 8.74%
- YTD
- 32.00%
- 6M
- 29.92%
- 1Y
- 41.78%
- 3Y*
- 33.87%
- 5Y*
- 15.18%
- 10Y*
- 17.49%
OOSAX vs. MTUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OOSAX Invesco Senior Floating Rate Fund | -0.83% | 3.78% | 7.76% | 10.67% | -0.94% | 8.66% | -4.46% | 2.36% | -0.86% | 3.79% |
MTUM iShares MSCI USA Momentum Factor ETF | 32.00% | 22.15% | 32.89% | 9.15% | -18.27% | 13.36% | 29.86% | 27.25% | -1.67% | 37.50% |
Correlation
The correlation between OOSAX and MTUM is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.18 |
The correlation between OOSAX and MTUM shifts across timeframes, from 0.09 (1 year) to 0.20 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
OOSAX vs. MTUM — Risk / Return Rank
OOSAX
MTUM
OOSAX vs. MTUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Floating Rate Fund (OOSAX) and iShares MSCI USA Momentum Factor ETF (MTUM). 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.
| OOSAX | MTUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 3.64 | -3.08 |
| Martin ratioReturn relative to average drawdown | 1.21 | 13.91 | -12.71 |
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Drawdowns
OOSAX vs. MTUM - Drawdown Comparison
The maximum OOSAX drawdown since its inception was -32.12%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for OOSAX and MTUM.
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Drawdown Indicators
| OOSAX | MTUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.12% | -34.08% | +1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -11.54% | +8.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.23% | -20.99% | +17.76% |
Max Drawdown (5Y)Largest decline over 5 years | -6.52% | -32.28% | +25.76% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | -34.08% | +10.55% |
Current DrawdownCurrent decline from peak | -1.57% | -4.48% | +2.91% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -6.19% | +4.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 3.01% | -1.59% |
Volatility
OOSAX vs. MTUM - Volatility Comparison
The current volatility for Invesco Senior Floating Rate Fund (OOSAX) is 0.84%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 12.20%. This indicates that OOSAX experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OOSAX | MTUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 12.20% | -11.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 19.44% | -17.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 21.93% | -18.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 21.15% | -17.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.13% | 21.31% | -17.18% |
OOSAX vs. MTUM - Expense Ratio Comparison
OOSAX has a 1.04% expense ratio, which is higher than MTUM's 0.15% expense ratio.
Dividends
OOSAX vs. MTUM - Dividend Comparison
OOSAX's dividend yield for the trailing twelve months is around 5.18%, more than MTUM's 0.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTUM iShares MSCI USA Momentum Factor ETF | 0.56% | 0.91% | 0.75% | 1.35% | 1.80% | 0.55% | 0.83% | 1.48% | 1.27% | 1.02% | 1.43% | 1.12% |
OOSAX Invesco Senior Floating Rate Fund | 5.18% | 6.68% | 8.38% | 7.76% | 7.42% | 4.37% | 4.84% | 5.24% | 4.65% | 4.08% | 4.78% | 4.65% |
Frequently Asked Questions
OOSAX and MTUM have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUM has higher volatility (12.20%) compared to OOSAX (0.84%). In terms of maximum drawdown, OOSAX dropped -32.12% vs MTUM's -34.08%.
MTUM currently has the higher Sharpe Ratio (1.92 vs 0.60), 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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