OPNYX vs. VVOAX
OPNYX (Invesco Rochester AMT-Free New York Municipal Fund) and VVOAX (Invesco Value Opportunities Fund) are both mutual funds - OPNYX is a Municipal Bonds fund managed by Invesco, while VVOAX is a Mid Cap Value Equities fund managed by Invesco. Over the past 10 years, OPNYX returned 2.02%/yr vs 15.48%/yr for VVOAX. Their -0.10 correlation means they have often moved in opposite directions in the past. OPNYX charges 0.84%/yr vs 1.22%/yr for VVOAX.
Performance
OPNYX vs. VVOAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPNYX achieves a 0.35% return, which is significantly lower than VVOAX's 14.48% return. Over the past 10 years, OPNYX has underperformed VVOAX with an annualized return of 2.02%, while VVOAX has yielded a comparatively higher 15.48% annualized return.
OPNYX
- 1D
- -0.30%
- 1M
- -2.44%
- 6M
- 0.45%
- YTD
- 0.35%
- 1Y
- 5.03%
- 3Y*
- 2.28%
- 5Y*
- -0.68%
- 10Y*
- 2.02%
- ALL TIME*
- 4.49%
VVOAX
- 1D
- 2.06%
- 1M
- -4.29%
- 6M
- 7.37%
- YTD
- 14.48%
- 1Y
- 35.01%
- 3Y*
- 23.74%
- 5Y*
- 17.90%
- 10Y*
- 15.48%
- ALL TIME*
- 8.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
OPNYX vs. VVOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPNYX Invesco Rochester AMT-Free New York Municipal Fund | 0.35% | 2.09% | 2.10% | 7.23% | -13.74% | 4.88% | 3.75% | 10.28% | 6.62% | 1.45% |
VVOAX Invesco Value Opportunities Fund | 14.48% | 20.24% | 30.01% | 15.20% | 1.33% | 35.60% | 5.49% | 29.84% | -19.92% | 17.07% |
Correlation
The correlation between OPNYX and VVOAX is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2001 | -0.10 |
The correlation between OPNYX and VVOAX shifts across timeframes, from -0.10 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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
OPNYX vs. VVOAX — Risk / Return Rank
OPNYX
VVOAX
OPNYX vs. VVOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester AMT-Free New York Municipal Fund (OPNYX) and Invesco Value Opportunities Fund (VVOAX). 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.
| OPNYX | VVOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 3.15 | -0.86 |
| Martin ratioReturn relative to average drawdown | 7.50 | 10.09 | -2.58 |
Loading charts...
Drawdowns
OPNYX vs. VVOAX - Drawdown Comparison
The maximum OPNYX drawdown since its inception was -34.59%, smaller than the maximum VVOAX drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for OPNYX and VVOAX.
Loading charts...
Drawdown Indicators
| OPNYX | VVOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.59% | -62.08% | +27.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -10.22% | +7.20% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -24.05% | +16.16% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -24.05% | +4.54% |
Max Drawdown (10Y)Largest decline over 10 years | -19.51% | -51.80% | +32.29% |
Current DrawdownCurrent decline from peak | -3.33% | -8.38% | +5.05% |
Average DrawdownAverage peak-to-trough decline | -3.65% | -11.68% | +8.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 3.19% | -2.19% |
Volatility
OPNYX vs. VVOAX - Volatility Comparison
The current volatility for Invesco Rochester AMT-Free New York Municipal Fund (OPNYX) is 1.23%, while Invesco Value Opportunities Fund (VVOAX) has a volatility of 5.79%. This indicates that OPNYX experiences smaller price fluctuations and is considered to be less risky than VVOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OPNYX | VVOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 5.79% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 15.89% | -12.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 20.05% | -16.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.72% | 21.34% | -15.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 24.12% | -18.80% |
OPNYX vs. VVOAX - Expense Ratio Comparison
OPNYX has a 0.84% expense ratio, which is lower than VVOAX's 1.22% expense ratio.
Dividends
OPNYX vs. VVOAX - Dividend Comparison
OPNYX's dividend yield for the trailing twelve months is around 2.70%, less than VVOAX's 9.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPNYX Invesco Rochester AMT-Free New York Municipal Fund | 2.70% | 4.85% | 4.59% | 3.18% | 2.84% | 2.85% | 3.00% | 2.98% | 2.92% | 3.56% | 4.85% | 5.38% |
VVOAX Invesco Value Opportunities Fund | 9.11% | 10.43% | 7.79% | 2.27% | 9.79% | 8.82% | 0.25% | 1.95% | 15.44% | 5.11% | 1.10% | 15.87% |
Frequently Asked Questions
OPNYX and VVOAX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VVOAX has higher volatility (5.79%) compared to OPNYX (1.23%). In terms of maximum drawdown, OPNYX dropped -34.59% vs VVOAX's -62.08%.
OPNYX currently has the higher Sharpe Ratio (1.70 vs 1.61), 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 OPNYX and VVOAX
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