OPTAX vs. BND
Compare and contrast key facts about Invesco AMT-Free Municipal Fund (OPTAX) and Vanguard Total Bond Market ETF (BND).
OPTAX is managed by Invesco. It was launched on Oct 26, 1976. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OPTAX or BND.
Key characteristics
| OPTAX | BND | |
|---|---|---|
| YTD Return | 1.91% | 1.59% |
| 1Y Return | 8.94% | 7.87% |
| 3Y Return (Ann) | -0.88% | -2.37% |
| 5Y Return (Ann) | 1.94% | -0.27% |
| 10Y Return (Ann) | 4.29% | 1.41% |
| Sharpe Ratio | 2.02 | 1.34 |
| Sortino Ratio | 3.00 | 1.98 |
| Omega Ratio | 1.48 | 1.24 |
| Calmar Ratio | 0.77 | 0.50 |
| Martin Ratio | 8.99 | 4.75 |
| Ulcer Index | 0.98% | 1.65% |
| Daily Std Dev | 4.33% | 5.84% |
| Max Drawdown | -48.54% | -18.84% |
| Current Drawdown | -3.48% | -9.17% |
Correlation
The correlation between OPTAX and BND is 0.37, 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
OPTAX vs. BND - Performance Comparison
In the year-to-date period, OPTAX achieves a 1.91% return, which is significantly higher than BND's 1.59% return. Over the past 10 years, OPTAX has outperformed BND with an annualized return of 4.29%, while BND has yielded a comparatively lower 1.41% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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OPTAX vs. BND - Expense Ratio Comparison
OPTAX has a 0.75% expense ratio, which is higher than BND's 0.03% expense ratio.
Risk-Adjusted Performance
OPTAX vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AMT-Free Municipal Fund (OPTAX) and Vanguard Total Bond Market ETF (BND). 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
OPTAX vs. BND - Dividend Comparison
OPTAX's dividend yield for the trailing twelve months is around 3.81%, more than BND's 3.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPTAX Invesco AMT-Free Municipal Fund | 3.81% | 3.62% | 3.58% | 3.43% | 3.76% | 3.52% | 3.82% | 4.71% | 5.77% | 6.05% | 6.35% | 6.02% |
BND Vanguard Total Bond Market ETF | 3.58% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
OPTAX vs. BND - Drawdown Comparison
The maximum OPTAX drawdown since its inception was -48.54%, which is greater than BND's maximum drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for OPTAX and BND. For additional features, visit the drawdowns tool.
Volatility
OPTAX vs. BND - Volatility Comparison
Invesco AMT-Free Municipal Fund (OPTAX) has a higher volatility of 2.12% compared to Vanguard Total Bond Market ETF (BND) at 1.77%. This indicates that OPTAX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.