Correlation
The correlation between OPTAX and VWALX is -0.11. 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. VWALX
Compare and contrast key facts about Invesco AMT-Free Municipal Fund (OPTAX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX).
OPTAX is managed by Invesco. It was launched on Oct 26, 1976. VWALX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OPTAX or VWALX.
Performance
OPTAX vs. VWALX - Performance Comparison
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Key characteristics
OPTAX:
0.09
VWALX:
0.29
OPTAX:
0.07
VWALX:
0.31
OPTAX:
1.01
VWALX:
1.05
OPTAX:
0.01
VWALX:
0.20
OPTAX:
0.06
VWALX:
0.62
OPTAX:
2.18%
VWALX:
2.08%
OPTAX:
6.53%
VWALX:
6.25%
OPTAX:
-48.55%
VWALX:
-17.24%
OPTAX:
-6.28%
VWALX:
-4.21%
Returns By Period
In the year-to-date period, OPTAX achieves a -2.83% return, which is significantly lower than VWALX's -2.28% return. Over the past 10 years, OPTAX has outperformed VWALX with an annualized return of 3.68%, while VWALX has yielded a comparatively lower 2.92% annualized return.
OPTAX
-2.83%
-1.05%
-4.33%
0.24%
0.88%
0.97%
3.68%
VWALX
-2.28%
-0.96%
-3.77%
1.35%
1.98%
1.63%
2.92%
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OPTAX vs. VWALX - Expense Ratio Comparison
OPTAX has a 0.75% expense ratio, which is higher than VWALX's 0.09% expense ratio.
Risk-Adjusted Performance
OPTAX vs. VWALX — Risk-Adjusted Performance Rank
OPTAX
VWALX
OPTAX vs. VWALX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AMT-Free Municipal Fund (OPTAX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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
OPTAX vs. VWALX - Dividend Comparison
OPTAX's dividend yield for the trailing twelve months is around 3.68%, which matches VWALX's 3.69% 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% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 3.69% | 3.82% | 3.59% | 3.44% | 3.55% | 3.39% | 3.76% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% |
Drawdowns
OPTAX vs. VWALX - Drawdown Comparison
The maximum OPTAX drawdown since its inception was -48.55%, which is greater than VWALX's maximum drawdown of -17.24%. Use the drawdown chart below to compare losses from any high point for OPTAX and VWALX.
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Volatility
OPTAX vs. VWALX - Volatility Comparison
Invesco AMT-Free Municipal Fund (OPTAX) has a higher volatility of 0.89% compared to Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) at 0.83%. This indicates that OPTAX's price experiences larger fluctuations and is considered to be riskier than VWALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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