PMO vs. IIM
PMO (Putnam Municipal Opportunities Trust) and IIM (Invesco Value Municipal Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, PMO returned 2.26%/yr vs 2.41%/yr for IIM. Their 0.32 correlation means their historical movements had little consistent relationship.
Performance
PMO vs. IIM - Performance Comparison
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Returns By Period
In the year-to-date period, PMO achieves a -1.61% return, which is significantly lower than IIM's 5.90% return. Over the past 10 years, PMO has underperformed IIM with an annualized return of 2.26%, while IIM has yielded a comparatively higher 2.41% annualized return.
PMO
- 1D
- 0.10%
- 1M
- -4.09%
- 6M
- -1.75%
- YTD
- -1.61%
- 1Y
- 9.27%
- 3Y*
- 4.78%
- 5Y*
- -2.23%
- 10Y*
- 2.26%
- ALL TIME*
- 4.46%
IIM
- 1D
- -0.24%
- 1M
- -2.75%
- 6M
- 4.49%
- YTD
- 5.90%
- 1Y
- 17.36%
- 3Y*
- 8.78%
- 5Y*
- 0.03%
- 10Y*
- 2.41%
- ALL TIME*
- 5.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.23M | $1.26M | $1.31M | |
| $672.73K | $658.41K | $646.85K |
PMO vs. IIM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMO Putnam Municipal Opportunities Trust | -1.61% | 10.45% | 3.15% | -1.31% | -20.32% | 10.08% | 9.38% | 23.13% | -4.05% | 8.89% |
IIM Invesco Value Municipal Income Trust | 5.90% | 11.88% | 8.04% | 2.05% | -25.41% | 14.13% | 7.07% | 18.79% | -4.40% | 7.05% |
Correlation
The correlation between PMO and IIM is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.32 |
Over the past year, PMO and IIM have become more correlated (0.59) than their long-term average of 0.32, meaning their price movements have been converging.
Fundamentals
PMO:
$280.46M
IIM:
$588.36M
PMO:
$1.47
IIM:
$0.85
PMO:
6.98
IIM:
14.70
PMO:
0.05
IIM:
0.08
PMO:
10.14
IIM:
8.06
PMO:
0.90
IIM:
0.99
PMO:
$27.64M
IIM:
$73.01M
PMO:
$24.85M
IIM:
$54.83M
PMO:
$41.22M
IIM:
$51.93M
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Return for Risk
PMO vs. IIM — Risk / Return Rank
PMO
IIM
PMO vs. IIM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Municipal Opportunities Trust (PMO) and Invesco Value Municipal Income Trust (IIM). 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.
| PMO | IIM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.98 | -0.60 |
| Martin ratioReturn relative to average drawdown | 4.25 | 5.95 | -1.69 |
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Drawdowns
PMO vs. IIM - Drawdown Comparison
The maximum PMO drawdown since its inception was -36.46%, smaller than the maximum IIM drawdown of -40.17%. Use the drawdown chart below to compare losses from any high point for PMO and IIM.
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Drawdown Indicators
| PMO | IIM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.46% | -40.17% | +3.71% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -9.19% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -13.72% | -13.49% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -36.46% | -35.75% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -36.46% | -35.75% | -0.71% |
Current DrawdownCurrent decline from peak | -14.71% | -3.27% | -11.44% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -7.33% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 3.05% | -0.74% |
Volatility
PMO vs. IIM - Volatility Comparison
Putnam Municipal Opportunities Trust (PMO) and Invesco Value Municipal Income Trust (IIM) have volatilities of 2.44% and 2.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMO | IIM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 2.39% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 8.20% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 10.83% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.09% | 12.49% | +2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.25% | 12.79% | +1.46% |
Dividends
PMO vs. IIM - Dividend Comparison
PMO's dividend yield for the trailing twelve months is around 4.86%, less than IIM's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIM Invesco Value Municipal Income Trust | 7.40% | 7.51% | 6.58% | 4.72% | 5.87% | 4.51% | 4.48% | 4.61% | 5.43% | 4.99% | 5.52% | 5.20% |
PMO Putnam Municipal Opportunities Trust | 4.86% | 4.25% | 4.15% | 4.64% | 5.87% | 4.42% | 4.65% | 4.85% | 5.55% | 5.26% | 5.89% | 5.81% |
Financials
PMO vs. IIM - Financials Comparison
This section allows you to compare key financial metrics between Putnam Municipal Opportunities Trust and Invesco Value Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
PMO and IIM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMO has higher volatility (2.44%) compared to IIM (2.39%). In terms of maximum drawdown, PMO dropped -36.46% vs IIM's -40.17%.
IIM currently has the higher Sharpe Ratio (1.68 vs 1.07), 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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