PVI vs. FXAIX
Compare and contrast key facts about Invesco VRDO Tax-Free ETF (PVI) and Fidelity 500 Index Fund (FXAIX).
PVI is a passively managed fund by Invesco that tracks the performance of the ICE US Municipal AMT-Free VRDO Constrained Index. It was launched on Nov 15, 2007. FXAIX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PVI or FXAIX.
Correlation
The correlation between PVI and FXAIX is 0.02, 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.
Performance
PVI vs. FXAIX - Performance Comparison
Key characteristics
PVI:
0.92
FXAIX:
1.82
PVI:
1.35
FXAIX:
2.45
PVI:
1.21
FXAIX:
1.33
PVI:
2.14
FXAIX:
2.78
PVI:
7.19
FXAIX:
11.50
PVI:
0.35%
FXAIX:
2.04%
PVI:
2.72%
FXAIX:
12.82%
PVI:
-4.10%
FXAIX:
-33.79%
PVI:
-0.08%
FXAIX:
0.00%
Returns By Period
In the year-to-date period, PVI achieves a 0.64% return, which is significantly lower than FXAIX's 4.09% return. Over the past 10 years, PVI has underperformed FXAIX with an annualized return of 0.98%, while FXAIX has yielded a comparatively higher 13.15% annualized return.
PVI
0.64%
0.05%
1.20%
2.74%
1.35%
0.98%
FXAIX
4.09%
4.74%
11.02%
23.93%
14.40%
13.15%
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PVI vs. FXAIX - Expense Ratio Comparison
PVI has a 0.25% expense ratio, which is higher than FXAIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
PVI vs. FXAIX — Risk-Adjusted Performance Rank
PVI
FXAIX
PVI vs. FXAIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco VRDO Tax-Free ETF (PVI) and Fidelity 500 Index Fund (FXAIX). 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.
Dividends
PVI vs. FXAIX - Dividend Comparison
PVI's dividend yield for the trailing twelve months is around 2.70%, more than FXAIX's 1.20% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PVI Invesco VRDO Tax-Free ETF | 2.70% | 2.72% | 3.36% | 0.56% | 0.00% | 0.36% | 1.15% | 1.14% | 0.57% | 0.13% | 0.00% | 0.00% |
FXAIX Fidelity 500 Index Fund | 1.20% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 1.95% | 2.07% | 1.81% | 2.01% | 2.56% | 2.63% |
Drawdowns
PVI vs. FXAIX - Drawdown Comparison
The maximum PVI drawdown since its inception was -4.10%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for PVI and FXAIX. For additional features, visit the drawdowns tool.
Volatility
PVI vs. FXAIX - Volatility Comparison
The current volatility for Invesco VRDO Tax-Free ETF (PVI) is 0.39%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 3.62%. This indicates that PVI experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.