OPATX vs. ONJAX
OPATX (Invesco Pennsylvania Municipal Fund) and ONJAX (Invesco New Jersey Municipal Fund) are both Municipal Bonds funds from Invesco. Over the past 10 years, OPATX returned 3.24%/yr vs 2.74%/yr for ONJAX. Their correlation of 0.84 suggests significant overlap in exposure. OPATX charges 0.89%/yr vs 1.08%/yr for ONJAX.
Performance
OPATX vs. ONJAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPATX achieves a 1.26% return, which is significantly lower than ONJAX's 1.63% return. Over the past 10 years, OPATX has outperformed ONJAX with an annualized return of 3.24%, while ONJAX has yielded a comparatively lower 2.74% annualized return.
OPATX
- 1D
- -0.10%
- 1M
- 2.21%
- YTD
- 1.26%
- 6M
- 1.74%
- 1Y
- 5.62%
- 3Y*
- 3.43%
- 5Y*
- 0.67%
- 10Y*
- 3.24%
ONJAX
- 1D
- 0.00%
- 1M
- 1.91%
- YTD
- 1.63%
- 6M
- 2.06%
- 1Y
- 6.12%
- 3Y*
- 3.49%
- 5Y*
- 0.94%
- 10Y*
- 2.74%
OPATX vs. ONJAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPATX Invesco Pennsylvania Municipal Fund | 1.26% | 2.66% | 3.25% | 5.69% | -10.34% | 4.40% | 5.23% | 11.84% | 11.32% | 0.14% |
ONJAX Invesco New Jersey Municipal Fund | 1.63% | 3.35% | 3.02% | 6.33% | -10.45% | 5.34% | 4.12% | 10.84% | 14.13% | -6.45% |
Correlation
The correlation between OPATX and ONJAX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 1994 | 0.84 |
The correlation between OPATX and ONJAX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OPATX vs. ONJAX — Risk / Return Rank
OPATX
ONJAX
OPATX vs. ONJAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Pennsylvania Municipal Fund (OPATX) and Invesco New Jersey Municipal Fund (ONJAX). 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.
| OPATX | ONJAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.49 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 2.59 | -0.57 |
| Martin ratioReturn relative to average drawdown | 6.63 | 9.11 | -2.48 |
Loading charts...
Drawdowns
OPATX vs. ONJAX - Drawdown Comparison
The maximum OPATX drawdown since its inception was -38.22%, smaller than the maximum ONJAX drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for OPATX and ONJAX.
Loading charts...
Drawdown Indicators
| OPATX | ONJAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.22% | -40.71% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -2.67% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -7.75% | -6.58% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.53% | -14.76% | -0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -15.53% | -14.76% | -0.77% |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -3.66% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.75% | +0.27% |
Volatility
OPATX vs. ONJAX - Volatility Comparison
Invesco Pennsylvania Municipal Fund (OPATX) has a higher volatility of 1.06% compared to Invesco New Jersey Municipal Fund (ONJAX) at 0.83%. This indicates that OPATX's price experiences larger fluctuations and is considered to be riskier than ONJAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OPATX | ONJAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.83% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 2.33% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 3.26% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.14% | 4.33% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 4.51% | +0.27% |
OPATX vs. ONJAX - Expense Ratio Comparison
OPATX has a 0.89% expense ratio, which is lower than ONJAX's 1.08% expense ratio.
Dividends
OPATX vs. ONJAX - Dividend Comparison
OPATX's dividend yield for the trailing twelve months is around 2.90%, more than ONJAX's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONJAX Invesco New Jersey Municipal Fund | 2.36% | 3.91% | 3.53% | 3.14% | 3.59% | 3.60% | 4.19% | 3.04% | 2.79% | 4.30% | 4.78% | 5.20% |
OPATX Invesco Pennsylvania Municipal Fund | 2.90% | 4.85% | 4.27% | 3.04% | 2.69% | 3.08% | 3.25% | 3.47% | 3.59% | 5.21% | 5.68% | 5.83% |
Frequently Asked Questions
OPATX and ONJAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPATX has higher volatility (1.06%) compared to ONJAX (0.83%). In terms of maximum drawdown, OPATX dropped -38.22% vs ONJAX's -40.71%.
ONJAX currently has the higher Sharpe Ratio (2.13 vs 1.68), 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.
Find the right allocation for OPATX and ONJAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer