ORNAX vs. VADDX
Compare and contrast key facts about Invesco Rochester Municipal Opportunities Fund (ORNAX) and Invesco Equally-Weighted S&P 500 Fund (VADDX).
ORNAX is managed by Invesco. It was launched on Sep 30, 1993. VADDX is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Jul 28, 1997.
Performance
ORNAX vs. VADDX - Performance Comparison
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ORNAX vs. VADDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | -1.21% | 2.32% | 4.76% | 7.66% | -14.80% | 6.73% | 5.89% | 14.25% | 9.16% | 6.88% |
VADDX Invesco Equally-Weighted S&P 500 Fund | 0.61% | 11.16% | 12.68% | 13.58% | -11.86% | 29.27% | 12.56% | 28.92% | -7.96% | 18.55% |
Returns By Period
In the year-to-date period, ORNAX achieves a -1.21% return, which is significantly lower than VADDX's 0.61% return. Over the past 10 years, ORNAX has underperformed VADDX with an annualized return of 4.09%, while VADDX has yielded a comparatively higher 10.94% annualized return.
ORNAX
- 1D
- 0.31%
- 1M
- -2.11%
- YTD
- -1.21%
- 6M
- -0.77%
- 1Y
- 0.34%
- 3Y*
- 3.16%
- 5Y*
- 0.37%
- 10Y*
- 4.09%
VADDX
- 1D
- 2.06%
- 1M
- -5.82%
- YTD
- 0.61%
- 6M
- 1.75%
- 1Y
- 12.48%
- 3Y*
- 11.64%
- 5Y*
- 7.70%
- 10Y*
- 10.94%
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ORNAX vs. VADDX - Expense Ratio Comparison
ORNAX has a 0.72% expense ratio, which is higher than VADDX's 0.27% expense ratio.
Return for Risk
ORNAX vs. VADDX — Risk / Return Rank
ORNAX
VADDX
ORNAX vs. VADDX - 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 (VADDX). 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 | VADDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.13 | 0.74 | -0.61 |
Sortino ratioReturn per unit of downside risk | 0.21 | 1.15 | -0.94 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.16 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.07 | 0.93 | -0.86 |
Martin ratioReturn relative to average drawdown | 0.19 | 4.21 | -4.02 |
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 | VADDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | 0.74 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.48 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.59 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.46 | +0.31 |
Correlation
The correlation between ORNAX and VADDX 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. VADDX - Dividend Comparison
ORNAX's dividend yield for the trailing twelve months is around 3.65%, less than VADDX's 10.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ORNAX Invesco Rochester Municipal Opportunities Fund | 3.65% | 5.86% | 5.68% | 4.21% | 4.04% | 4.26% | 4.86% | 4.50% | 4.80% | 5.78% | 6.50% | 6.67% |
VADDX Invesco Equally-Weighted S&P 500 Fund | 10.03% | 10.09% | 8.88% | 4.86% | 8.45% | 9.92% | 6.38% | 4.68% | 7.13% | 2.97% | 0.30% | 2.98% |
Drawdowns
ORNAX vs. VADDX - Drawdown Comparison
The maximum ORNAX drawdown since its inception was -55.48%, smaller than the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for ORNAX and VADDX.
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Drawdown Indicators
| ORNAX | VADDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -60.12% | +4.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -12.61% | +6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.16% | -21.58% | +0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -21.16% | -39.39% | +18.23% |
Current DrawdownCurrent decline from peak | -2.87% | -5.99% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -7.03% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.80% | -0.19% |
Volatility
ORNAX vs. VADDX - Volatility Comparison
The current volatility for Invesco Rochester Municipal Opportunities Fund (ORNAX) is 1.42%, while Invesco Equally-Weighted S&P 500 Fund (VADDX) has a volatility of 4.48%. This indicates that ORNAX experiences smaller price fluctuations and is considered to be less risky than VADDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ORNAX | VADDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 4.48% | -3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 8.88% | -6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.12% | 17.25% | -10.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.00% | 16.30% | -10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 18.54% | -12.56% |