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.
Key characteristics
| PZT | MINO | |
|---|---|---|
| YTD Return | 1.83% | 3.25% |
| 1Y Return | 9.50% | 9.24% |
| 3Y Return (Ann) | -1.28% | 0.28% |
| Sharpe Ratio | 1.47 | 2.22 |
| Sortino Ratio | 2.21 | 3.18 |
| Omega Ratio | 1.28 | 1.45 |
| Calmar Ratio | 0.72 | 1.13 |
| Martin Ratio | 7.38 | 14.39 |
| Ulcer Index | 1.32% | 0.64% |
| Daily Std Dev | 6.60% | 4.16% |
| Max Drawdown | -22.73% | -15.24% |
| Current Drawdown | -5.22% | -1.15% |
Correlation
The correlation between PZT and MINO is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PZT vs. MINO - Performance Comparison
In the year-to-date period, PZT achieves a 1.83% return, which is significantly lower than MINO's 3.25% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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.
Dividends
PZT vs. MINO - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 2.96%, less than MINO's 3.93% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 2.96% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.37% | 3.40% | 3.75% | 4.17% |
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 3.93% | 3.78% | 2.87% | 0.29% | 0.00% | 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 -22.73%, 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. For additional features, visit the drawdowns tool.
Volatility
PZT vs. MINO - Volatility Comparison
Invesco New York AMT-Free Municipal Bond ETF (PZT) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) have volatilities of 2.10% and 2.03%, 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.