Correlation
The correlation between OVM and ACTHX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
OVM vs. ACTHX
Compare and contrast key facts about Overlay Shares Municipal Bond ETF (OVM) and Invesco High Yield Municipal Fund (ACTHX).
OVM is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019. ACTHX is managed by Invesco. It was launched on Jan 1, 1986.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OVM or ACTHX.
Performance
OVM vs. ACTHX - Performance Comparison
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Key characteristics
OVM:
0.10
ACTHX:
0.45
OVM:
0.07
ACTHX:
0.56
OVM:
1.01
ACTHX:
1.10
OVM:
0.02
ACTHX:
0.29
OVM:
0.05
ACTHX:
1.32
OVM:
2.93%
ACTHX:
2.16%
OVM:
6.12%
ACTHX:
7.42%
OVM:
-15.58%
ACTHX:
-27.29%
OVM:
-5.63%
ACTHX:
-6.86%
Returns By Period
In the year-to-date period, OVM achieves a -3.00% return, which is significantly lower than ACTHX's -2.16% return.
OVM
-3.00%
-0.13%
-5.26%
0.37%
1.55%
0.98%
N/A
ACTHX
-2.16%
-0.85%
-3.88%
2.75%
0.76%
1.89%
2.83%
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OVM vs. ACTHX - Expense Ratio Comparison
OVM has a 0.82% expense ratio, which is lower than ACTHX's 1.39% expense ratio.
Risk-Adjusted Performance
OVM vs. ACTHX — Risk-Adjusted Performance Rank
OVM
ACTHX
OVM vs. ACTHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Municipal Bond ETF (OVM) and Invesco High Yield Municipal Fund (ACTHX). 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
OVM vs. ACTHX - Dividend Comparison
OVM's dividend yield for the trailing twelve months is around 5.37%, more than ACTHX's 4.96% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OVM Overlay Shares Municipal Bond ETF | 5.37% | 4.91% | 4.66% | 4.21% | 6.10% | 3.97% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ACTHX Invesco High Yield Municipal Fund | 4.96% | 5.21% | 5.03% | 4.72% | 3.95% | 4.33% | 4.34% | 4.78% | 4.71% | 5.17% | 4.99% | 5.21% |
Drawdowns
OVM vs. ACTHX - Drawdown Comparison
The maximum OVM drawdown since its inception was -15.58%, smaller than the maximum ACTHX drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for OVM and ACTHX.
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Volatility
OVM vs. ACTHX - Volatility Comparison
Overlay Shares Municipal Bond ETF (OVM) has a higher volatility of 1.40% compared to Invesco High Yield Municipal Fund (ACTHX) at 0.97%. This indicates that OVM's price experiences larger fluctuations and is considered to be riskier than ACTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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