ORNYX vs. IVNQX
ORNYX (Invesco Rochester Municipal Opportunities Fund Class Y) and IVNQX (Invesco Nasdaq 100 Index Fund) are both mutual funds - ORNYX is a Municipal Bonds fund actively managed by Invesco, while IVNQX is a Large Cap Growth Equities fund tracking the Nasdaq-100 Index. ORNYX is actively managed, while IVNQX is passively managed. Over the past 5 years, ORNYX returned 0.15%/yr vs 14.15%/yr for IVNQX. Their 0.11 correlation means their historical movements had little consistent relationship. ORNYX charges 0.92%/yr vs 0.29%/yr for IVNQX.
Performance
ORNYX vs. IVNQX - Performance Comparison
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Returns By Period
In the year-to-date period, ORNYX achieves a 0.67% return, which is significantly lower than IVNQX's 11.50% return.
ORNYX
- 1D
- -0.46%
- 1M
- -2.26%
- 6M
- 0.52%
- YTD
- 0.67%
- 1Y
- 5.16%
- 3Y*
- 3.88%
- 5Y*
- 0.15%
- 10Y*
- 3.93%
- ALL TIME*
- 5.61%
IVNQX
- 1D
- 3.35%
- 1M
- -4.16%
- 6M
- 10.20%
- YTD
- 11.50%
- 1Y
- 23.89%
- 3Y*
- 21.84%
- 5Y*
- 14.15%
- 10Y*
- —
- ALL TIME*
- 16.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ORNYX vs. IVNQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ORNYX Invesco Rochester Municipal Opportunities Fund Class Y | 0.67% | 2.60% | 5.48% | 7.70% | -14.45% | 7.02% | 5.12% |
IVNQX Invesco Nasdaq 100 Index Fund | 11.50% | 20.77% | 25.43% | 54.62% | -32.05% | 26.75% | 8.46% |
Correlation
The correlation between ORNYX and IVNQX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.11 |
The correlation between ORNYX and IVNQX shifts across timeframes, from 0.11 (3 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ORNYX vs. IVNQX — Risk / Return Rank
ORNYX
IVNQX
ORNYX vs. IVNQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester Municipal Opportunities Fund Class Y (ORNYX) and Invesco Nasdaq 100 Index Fund (IVNQX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ORNYX | IVNQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.19 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 1.76 | +0.94 |
| Martin ratioReturn relative to average drawdown | 9.31 | 5.65 | +3.66 |
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Drawdowns
ORNYX vs. IVNQX - Drawdown Comparison
The maximum ORNYX drawdown since its inception was -21.03%, smaller than the maximum IVNQX drawdown of -34.83%. Use the drawdown chart below to compare losses from any high point for ORNYX and IVNQX.
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Drawdown Indicators
| ORNYX | IVNQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.03% | -34.83% | +13.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -11.95% | +9.24% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -22.70% | +14.67% |
Max Drawdown (5Y)Largest decline over 5 years | -21.03% | -34.83% | +13.80% |
Max Drawdown (10Y)Largest decline over 10 years | -21.03% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -8.28% | +6.02% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -8.12% | +4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 3.70% | -2.70% |
Volatility
ORNYX vs. IVNQX - Volatility Comparison
The current volatility for Invesco Rochester Municipal Opportunities Fund Class Y (ORNYX) is 1.09%, while Invesco Nasdaq 100 Index Fund (IVNQX) has a volatility of 6.87%. This indicates that ORNYX experiences smaller price fluctuations and is considered to be less risky than IVNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ORNYX | IVNQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 6.87% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 15.96% | -13.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 19.38% | -15.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 22.99% | -16.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 22.61% | -16.49% |
ORNYX vs. IVNQX - Expense Ratio Comparison
ORNYX has a 0.92% expense ratio, which is higher than IVNQX's 0.29% expense ratio.
Dividends
ORNYX vs. IVNQX - Dividend Comparison
ORNYX's dividend yield for the trailing twelve months is around 3.34%, more than IVNQX's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVNQX Invesco Nasdaq 100 Index Fund | 1.17% | 1.31% | 0.72% | 0.54% | 0.73% | 0.84% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ORNYX Invesco Rochester Municipal Opportunities Fund Class Y | 3.34% | 6.14% | 6.37% | 4.37% | 4.33% | 4.53% | 5.15% | 4.48% | 5.05% | 6.02% | 6.72% | 6.83% |
Frequently Asked Questions
ORNYX and IVNQX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVNQX has higher volatility (6.87%) compared to ORNYX (1.09%). In terms of maximum drawdown, ORNYX dropped -21.03% vs IVNQX's -34.83%.
ORNYX currently has the higher Sharpe Ratio (1.90 vs 1.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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