OPCAX vs. SPY
Compare and contrast key facts about Invesco California Municipal Fund (OPCAX) and SPDR S&P 500 ETF (SPY).
OPCAX is managed by Invesco. It was launched on Nov 2, 1988. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OPCAX or SPY.
Correlation
The correlation between OPCAX and SPY is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
OPCAX vs. SPY - Performance Comparison
Key characteristics
OPCAX:
0.45
SPY:
2.12
OPCAX:
0.63
SPY:
2.83
OPCAX:
1.10
SPY:
1.40
OPCAX:
0.29
SPY:
3.15
OPCAX:
1.79
SPY:
13.87
OPCAX:
1.02%
SPY:
1.91%
OPCAX:
4.01%
SPY:
12.51%
OPCAX:
-47.36%
SPY:
-55.19%
OPCAX:
-3.49%
SPY:
-1.78%
Returns By Period
In the year-to-date period, OPCAX achieves a 1.50% return, which is significantly lower than SPY's 26.79% return. Over the past 10 years, OPCAX has underperformed SPY with an annualized return of 3.44%, while SPY has yielded a comparatively higher 13.08% annualized return.
OPCAX
1.50%
-1.83%
0.53%
1.82%
1.22%
3.44%
SPY
26.79%
-0.30%
10.04%
26.42%
14.75%
13.08%
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OPCAX vs. SPY - Expense Ratio Comparison
OPCAX has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
OPCAX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco California Municipal Fund (OPCAX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
OPCAX vs. SPY - Dividend Comparison
OPCAX's dividend yield for the trailing twelve months is around 3.56%, more than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPCAX Invesco California Municipal Fund | 3.24% | 3.67% | 3.45% | 3.06% | 3.12% | 3.44% | 3.71% | 4.59% | 5.37% | 5.48% | 6.17% | 6.56% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
OPCAX vs. SPY - Drawdown Comparison
The maximum OPCAX drawdown since its inception was -47.36%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for OPCAX and SPY. For additional features, visit the drawdowns tool.
Volatility
OPCAX vs. SPY - Volatility Comparison
The current volatility for Invesco California Municipal Fund (OPCAX) is 1.51%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.07%. This indicates that OPCAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.