ORNAX vs. VADAX
Compare and contrast key facts about Invesco Rochester Municipal Opportunities Fund (ORNAX) and Invesco Equally-Weighted S&P 500 Fund Class A (VADAX).
ORNAX is managed by Invesco. It was launched on Sep 30, 1993. VADAX is managed by Invesco.
Performance
ORNAX vs. VADAX - Performance Comparison
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ORNAX vs. VADAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | -1.52% | 2.32% | 4.76% | 7.66% | -14.80% | 6.73% | 5.89% | 14.25% | 9.16% | 6.88% |
VADAX Invesco Equally-Weighted S&P 500 Fund Class A | -1.47% | 10.89% | 12.40% | 13.29% | -12.07% | 28.93% | 12.30% | 28.59% | -8.19% | 18.26% |
Returns By Period
The year-to-date returns for both investments are quite close, with ORNAX having a -1.52% return and VADAX slightly higher at -1.47%. Over the past 10 years, ORNAX has underperformed VADAX with an annualized return of 4.06%, while VADAX has yielded a comparatively higher 10.47% annualized return.
ORNAX
- 1D
- 0.31%
- 1M
- -2.55%
- YTD
- -1.52%
- 6M
- -1.07%
- 1Y
- 0.48%
- 3Y*
- 3.05%
- 5Y*
- 0.31%
- 10Y*
- 4.06%
VADAX
- 1D
- -0.23%
- 1M
- -7.89%
- YTD
- -1.47%
- 6M
- -0.21%
- 1Y
- 10.07%
- 3Y*
- 10.61%
- 5Y*
- 7.23%
- 10Y*
- 10.47%
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ORNAX vs. VADAX - Expense Ratio Comparison
ORNAX has a 0.72% expense ratio, which is higher than VADAX's 0.52% expense ratio.
Return for Risk
ORNAX vs. VADAX — Risk / Return Rank
ORNAX
VADAX
ORNAX vs. VADAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester Municipal Opportunities Fund (ORNAX) and Invesco Equally-Weighted S&P 500 Fund Class A (VADAX). 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.
| ORNAX | VADAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.26 | 0.64 | -0.38 |
Sortino ratioReturn per unit of downside risk | 0.40 | 1.02 | -0.62 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.14 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.05 | 0.71 | -0.66 |
Martin ratioReturn relative to average drawdown | 0.12 | 3.23 | -3.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ORNAX | VADAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.64 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.45 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.57 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.44 | +0.32 |
Correlation
The correlation between ORNAX and VADAX 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.
Dividends
ORNAX vs. VADAX - Dividend Comparison
ORNAX's dividend yield for the trailing twelve months is around 3.66%, less than VADAX's 10.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | 3.66% | 5.86% | 5.68% | 4.21% | 4.04% | 4.26% | 4.86% | 4.50% | 4.80% | 5.78% | 6.50% | 6.67% |
VADAX Invesco Equally-Weighted S&P 500 Fund Class A | 10.36% | 10.21% | 8.77% | 4.69% | 8.49% | 9.80% | 6.21% | 4.49% | 6.90% | 2.76% | 0.30% | 2.77% |
Drawdowns
ORNAX vs. VADAX - Drawdown Comparison
The maximum ORNAX drawdown since its inception was -55.48%, smaller than the maximum VADAX drawdown of -60.27%. Use the drawdown chart below to compare losses from any high point for ORNAX and VADAX.
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Drawdown Indicators
| ORNAX | VADAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -60.27% | +4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -12.61% | +6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.16% | -21.74% | +0.58% |
Max Drawdown (10Y)Largest decline over 10 years | -21.16% | -39.32% | +18.16% |
Current DrawdownCurrent decline from peak | -3.17% | -7.89% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -7.13% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.78% | -0.17% |
Volatility
ORNAX vs. VADAX - Volatility Comparison
The current volatility for Invesco Rochester Municipal Opportunities Fund (ORNAX) is 1.38%, while Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) has a volatility of 3.76%. This indicates that ORNAX experiences smaller price fluctuations and is considered to be less risky than VADAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ORNAX | VADAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 3.76% | -2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 8.70% | -6.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.13% | 17.17% | -10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.00% | 16.27% | -10.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 18.53% | -12.55% |