Correlation
The correlation between OPTAX and ORNAX is -0.01. 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.
OPTAX vs. ORNAX
Compare and contrast key facts about Invesco AMT-Free Municipal Fund (OPTAX) and Invesco Rochester Municipal Opportunities Fund (ORNAX).
OPTAX is managed by Invesco. It was launched on Oct 26, 1976. ORNAX is managed by Invesco. It was launched on Sep 30, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OPTAX or ORNAX.
Performance
OPTAX vs. ORNAX - Performance Comparison
Loading data...
Key characteristics
OPTAX:
0.09
ORNAX:
0.25
OPTAX:
0.07
ORNAX:
0.26
OPTAX:
1.01
ORNAX:
1.04
OPTAX:
0.01
ORNAX:
0.14
OPTAX:
0.06
ORNAX:
0.53
OPTAX:
2.18%
ORNAX:
2.23%
OPTAX:
6.53%
ORNAX:
7.24%
OPTAX:
-48.55%
ORNAX:
-55.48%
OPTAX:
-6.28%
ORNAX:
-5.70%
Returns By Period
The year-to-date returns for both stocks are quite close, with OPTAX having a -2.83% return and ORNAX slightly lower at -2.97%. Over the past 10 years, OPTAX has underperformed ORNAX with an annualized return of 3.68%, while ORNAX has yielded a comparatively higher 4.38% annualized return.
OPTAX
-2.83%
-1.05%
-4.33%
0.24%
0.88%
0.97%
3.68%
ORNAX
-2.97%
-1.06%
-4.51%
1.19%
1.40%
2.27%
4.38%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
OPTAX vs. ORNAX - Expense Ratio Comparison
OPTAX has a 0.75% expense ratio, which is higher than ORNAX's 0.72% expense ratio.
Risk-Adjusted Performance
OPTAX vs. ORNAX — Risk-Adjusted Performance Rank
OPTAX
ORNAX
OPTAX vs. ORNAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AMT-Free Municipal Fund (OPTAX) and Invesco Rochester Municipal Opportunities Fund (ORNAX). 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.
Loading data...
Dividends
OPTAX vs. ORNAX - Dividend Comparison
OPTAX's dividend yield for the trailing twelve months is around 3.68%, less than ORNAX's 5.07% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPTAX Invesco AMT-Free Municipal Fund | 3.68% | 3.85% | 3.62% | 3.58% | 3.43% | 3.76% | 3.52% | 3.82% | 4.71% | 5.77% | 6.05% | 6.35% |
ORNAX Invesco Rochester Municipal Opportunities Fund | 5.07% | 5.27% | 5.06% | 4.81% | 4.25% | 4.81% | 4.24% | 4.80% | 5.78% | 6.56% | 6.67% | 7.51% |
Drawdowns
OPTAX vs. ORNAX - Drawdown Comparison
The maximum OPTAX drawdown since its inception was -48.55%, smaller than the maximum ORNAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for OPTAX and ORNAX.
Loading data...
Volatility
OPTAX vs. ORNAX - Volatility Comparison
The current volatility for Invesco AMT-Free Municipal Fund (OPTAX) is 0.89%, while Invesco Rochester Municipal Opportunities Fund (ORNAX) has a volatility of 1.05%. This indicates that OPTAX experiences smaller price fluctuations and is considered to be less risky than ORNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading data...