OPATX vs. VPV
OPATX (Invesco Pennsylvania Municipal Fund) is Municipal Bonds fund managed by Invesco, while VPV (Invesco Pennsylvania Value Municipal Income Trust) is a stock. Over the past 10 years, OPATX returned 3.34%/yr vs 3.00%/yr for VPV. At a 0.22 correlation, their price movements are largely independent.
Performance
OPATX vs. VPV - Performance Comparison
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Returns By Period
In the year-to-date period, OPATX achieves a 1.36% return, which is significantly lower than VPV's 10.77% return. Over the past 10 years, OPATX has outperformed VPV with an annualized return of 3.34%, while VPV has yielded a comparatively lower 3.00% annualized return.
OPATX
- 1D
- 0.10%
- 1M
- 2.31%
- YTD
- 1.36%
- 6M
- 1.84%
- 1Y
- 5.83%
- 3Y*
- 3.60%
- 5Y*
- 0.67%
- 10Y*
- 3.34%
VPV
- 1D
- -0.27%
- 1M
- 3.46%
- YTD
- 10.77%
- 6M
- 11.78%
- 1Y
- 21.91%
- 3Y*
- 11.39%
- 5Y*
- 2.16%
- 10Y*
- 3.00%
OPATX vs. VPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPATX Invesco Pennsylvania Municipal Fund | 1.36% | 2.66% | 3.25% | 5.69% | -10.34% | 4.40% | 5.23% | 11.84% | 11.32% | 0.14% |
VPV Invesco Pennsylvania Value Municipal Income Trust | 10.77% | 9.96% | 9.04% | 6.10% | -26.32% | 14.57% | 1.46% | 19.47% | 1.31% | 5.14% |
Correlation
The correlation between OPATX and VPV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.22 |
The correlation between OPATX and VPV shifts across timeframes, from 0.22 (all time) to 0.45 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
OPATX vs. VPV — Risk / Return Rank
OPATX
VPV
OPATX vs. VPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Pennsylvania Municipal Fund (OPATX) and Invesco Pennsylvania Value Municipal Income Trust (VPV). 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 | VPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.41 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.06 | -1.00 |
| Martin ratioReturn relative to average drawdown | 6.75 | 10.45 | -3.70 |
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Drawdowns
OPATX vs. VPV - Drawdown Comparison
The maximum OPATX drawdown since its inception was -38.22%, smaller than the maximum VPV drawdown of -45.21%. Use the drawdown chart below to compare losses from any high point for OPATX and VPV.
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Drawdown Indicators
| OPATX | VPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.22% | -45.21% | +6.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -7.19% | +4.05% |
Max Drawdown (3Y)Largest decline over 3 years | -7.75% | -12.46% | +4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -15.53% | -33.08% | +17.55% |
Max Drawdown (10Y)Largest decline over 10 years | -15.53% | -33.08% | +17.55% |
Current DrawdownCurrent decline from peak | 0.00% | -2.30% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -8.46% | +5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 2.10% | -1.08% |
Volatility
OPATX vs. VPV - Volatility Comparison
The current volatility for Invesco Pennsylvania Municipal Fund (OPATX) is 1.04%, while Invesco Pennsylvania Value Municipal Income Trust (VPV) has a volatility of 3.91%. This indicates that OPATX experiences smaller price fluctuations and is considered to be less risky than VPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPATX | VPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 3.91% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 8.79% | -6.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 10.35% | -6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.14% | 10.40% | -5.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.78% | 12.04% | -7.26% |
Dividends
OPATX vs. VPV - Dividend Comparison
OPATX's dividend yield for the trailing twelve months is around 2.90%, less than VPV's 7.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VPV Invesco Pennsylvania Value Municipal Income Trust | 7.17% | 7.65% | 6.07% | 3.81% | 5.48% | 4.29% | 4.61% | 4.85% | 5.94% | 5.15% | 6.00% | 6.09% |
Frequently Asked Questions
OPATX and VPV 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.
VPV has higher volatility (3.91%) compared to OPATX (1.04%). In terms of maximum drawdown, OPATX dropped -38.22% vs VPV's -45.21%.
VPV currently has the higher Sharpe Ratio (2.13 vs 1.71), 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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