ORSYX vs. ACEIX
ORSYX (Invesco Short Term Municipal Fund) and ACEIX (Invesco Equity and Income Fund) are both mutual funds - ORSYX is a Municipal Bonds fund managed by Invesco, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, ORSYX returned 2.00%/yr vs 8.77%/yr for ACEIX. Their -0.00 correlation means they have often moved in opposite directions in the past. ORSYX charges 0.50%/yr vs 0.78%/yr for ACEIX.
Performance
ORSYX vs. ACEIX - Performance Comparison
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Returns By Period
In the year-to-date period, ORSYX achieves a 0.20% return, which is significantly lower than ACEIX's 7.11% return. Over the past 10 years, ORSYX has underperformed ACEIX with an annualized return of 2.00%, while ACEIX has yielded a comparatively higher 8.77% annualized return.
ORSYX
- 1D
- 0.00%
- 1M
- -0.54%
- 6M
- -0.07%
- YTD
- 0.20%
- 1Y
- 1.28%
- 3Y*
- 3.00%
- 5Y*
- 1.96%
- 10Y*
- 2.00%
- ALL TIME*
- 2.21%
ACEIX
- 1D
- 0.78%
- 1M
- 0.17%
- 6M
- 4.45%
- YTD
- 7.11%
- 1Y
- 15.01%
- 3Y*
- 11.87%
- 5Y*
- 7.42%
- 10Y*
- 8.77%
- ALL TIME*
- 8.96%
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 |
ORSYX vs. ACEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ORSYX Invesco Short Term Municipal Fund | 0.20% | 3.99% | 3.36% | 2.87% | -0.55% | 0.52% | 3.03% | 2.95% | 1.66% | 2.61% |
ACEIX Invesco Equity and Income Fund | 7.11% | 12.85% | 11.77% | 10.08% | -7.75% | 18.02% | 9.96% | 19.17% | -9.74% | 10.86% |
Correlation
The correlation between ORSYX and ACEIX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011 | -0.00 |
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Return for Risk
ORSYX vs. ACEIX — Risk / Return Rank
ORSYX
ACEIX
ORSYX vs. ACEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Term Municipal Fund (ORSYX) and Invesco Equity and Income Fund (ACEIX). 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.
| ORSYX | ACEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.29 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 2.46 | +0.09 |
| Martin ratioReturn relative to average drawdown | 9.69 | 10.19 | -0.51 |
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Drawdowns
ORSYX vs. ACEIX - Drawdown Comparison
The maximum ORSYX drawdown since its inception was -3.18%, smaller than the maximum ACEIX drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for ORSYX and ACEIX.
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Drawdown Indicators
| ORSYX | ACEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.18% | -40.08% | +36.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -5.50% | +4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | -12.40% | +11.32% |
Max Drawdown (5Y)Largest decline over 5 years | -1.78% | -16.73% | +14.95% |
Max Drawdown (10Y)Largest decline over 10 years | -3.18% | -30.80% | +27.62% |
Current DrawdownCurrent decline from peak | -0.54% | -0.51% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -4.59% | +4.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 1.34% | -1.13% |
Volatility
ORSYX vs. ACEIX - Volatility Comparison
The current volatility for Invesco Short Term Municipal Fund (ORSYX) is 0.37%, while Invesco Equity and Income Fund (ACEIX) has a volatility of 2.18%. This indicates that ORSYX experiences smaller price fluctuations and is considered to be less risky than ACEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ORSYX | ACEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 2.18% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 0.99% | 6.24% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.41% | 8.32% | -6.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.74% | 11.06% | -9.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.65% | 12.76% | -11.11% |
ORSYX vs. ACEIX - Expense Ratio Comparison
ORSYX has a 0.50% expense ratio, which is lower than ACEIX's 0.78% expense ratio.
Dividends
ORSYX vs. ACEIX - Dividend Comparison
ORSYX's dividend yield for the trailing twelve months is around 1.82%, less than ACEIX's 6.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACEIX Invesco Equity and Income Fund | 6.47% | 6.87% | 8.28% | 6.91% | 6.65% | 13.74% | 2.94% | 5.53% | 8.91% | 6.73% | 3.94% | 5.17% |
ORSYX Invesco Short Term Municipal Fund | 1.82% | 3.62% | 4.12% | 2.55% | 1.05% | 0.78% | 1.65% | 2.10% | 2.18% | 1.77% | 1.98% | 2.17% |
Frequently Asked Questions
ORSYX and ACEIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACEIX has higher volatility (2.18%) compared to ORSYX (0.37%). In terms of maximum drawdown, ORSYX dropped -3.18% vs ACEIX's -40.08%.
ACEIX currently has the higher Sharpe Ratio (1.63 vs 1.46), 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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