OPCAX vs. SCMB
Compare and contrast key facts about Invesco California Municipal Fund (OPCAX) and Schwab Municipal Bond ETF (SCMB).
OPCAX is managed by Invesco. It was launched on Nov 2, 1988. SCMB is a passively managed fund by Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OPCAX or SCMB.
Correlation
The correlation between OPCAX and SCMB is 0.11, 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.
Performance
OPCAX vs. SCMB - Performance Comparison
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Key characteristics
OPCAX:
-0.09
SCMB:
0.05
OPCAX:
-0.07
SCMB:
0.11
OPCAX:
0.99
SCMB:
1.02
OPCAX:
-0.07
SCMB:
0.06
OPCAX:
-0.28
SCMB:
0.20
OPCAX:
2.15%
SCMB:
1.49%
OPCAX:
6.84%
SCMB:
4.85%
OPCAX:
-47.36%
SCMB:
-6.13%
OPCAX:
-5.31%
SCMB:
-2.83%
Returns By Period
In the year-to-date period, OPCAX achieves a -2.88% return, which is significantly lower than SCMB's -1.25% return.
OPCAX
-2.88%
3.47%
-2.85%
-0.60%
1.27%
3.22%
SCMB
-1.25%
1.07%
-1.40%
0.25%
N/A
N/A
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OPCAX vs. SCMB - Expense Ratio Comparison
OPCAX has a 0.75% expense ratio, which is higher than SCMB's 0.03% expense ratio.
Risk-Adjusted Performance
OPCAX vs. SCMB — Risk-Adjusted Performance Rank
OPCAX
SCMB
OPCAX vs. SCMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco California Municipal Fund (OPCAX) and Schwab Municipal Bond ETF (SCMB). 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.
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Dividends
OPCAX vs. SCMB - Dividend Comparison
OPCAX's dividend yield for the trailing twelve months is around 3.69%, more than SCMB's 3.27% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPCAX Invesco California Municipal Fund | 3.69% | 3.83% | 3.71% | 3.50% | 3.06% | 3.12% | 3.44% | 3.71% | 4.59% | 5.37% | 5.48% | 6.17% |
SCMB Schwab Municipal Bond ETF | 3.27% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
OPCAX vs. SCMB - Drawdown Comparison
The maximum OPCAX drawdown since its inception was -47.36%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for OPCAX and SCMB. For additional features, visit the drawdowns tool.
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Volatility
OPCAX vs. SCMB - Volatility Comparison
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