Correlation
The correlation between PZT and MINO is 0.14, 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.
PZT vs. MINO
Compare and contrast key facts about Invesco New York AMT-Free Municipal Bond ETF (PZT) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO).
PZT and MINO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PZT is a passively managed fund by Invesco that tracks the performance of the ICE BofA New York Long-Term Core Plus Muni. It was launched on Oct 11, 2007. MINO is an actively managed fund by PIMCO. It was launched on Sep 8, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PZT or MINO.
Performance
PZT vs. MINO - Performance Comparison
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Key characteristics
PZT:
-0.22
MINO:
0.26
PZT:
-0.26
MINO:
0.33
PZT:
0.97
MINO:
1.05
PZT:
-0.17
MINO:
0.27
PZT:
-0.67
MINO:
0.80
PZT:
2.99%
MINO:
1.59%
PZT:
8.48%
MINO:
5.62%
PZT:
-22.72%
MINO:
-15.24%
PZT:
-9.51%
MINO:
-3.24%
Returns By Period
In the year-to-date period, PZT achieves a -3.91% return, which is significantly lower than MINO's -1.31% return.
PZT
-3.91%
-1.60%
-6.01%
-1.87%
0.26%
-0.42%
1.87%
MINO
-1.31%
-0.86%
-2.69%
1.45%
2.78%
N/A
N/A
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PZT vs. MINO - Expense Ratio Comparison
PZT has a 0.28% expense ratio, which is lower than MINO's 0.39% expense ratio.
Risk-Adjusted Performance
PZT vs. MINO — Risk-Adjusted Performance Rank
PZT
MINO
PZT vs. MINO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco New York AMT-Free Municipal Bond ETF (PZT) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO). 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
PZT vs. MINO - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 3.36%, less than MINO's 3.84% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 3.36% | 3.04% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.36% | 3.40% | 3.75% |
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 3.84% | 3.91% | 3.78% | 2.87% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PZT vs. MINO - Drawdown Comparison
The maximum PZT drawdown since its inception was -22.72%, which is greater than MINO's maximum drawdown of -15.24%. Use the drawdown chart below to compare losses from any high point for PZT and MINO.
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Volatility
PZT vs. MINO - Volatility Comparison
Invesco New York AMT-Free Municipal Bond ETF (PZT) has a higher volatility of 1.66% compared to PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) at 1.22%. This indicates that PZT's price experiences larger fluctuations and is considered to be riskier than MINO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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