RMUNX vs. AGG

Last updated Jun 3, 2026

RMUNX (Invesco Rochester New York Municipals Fund) and AGG (iShares Core U.S. Aggregate Bond ETF) are both funds - RMUNX is a Municipal Bonds fund managed by Invesco, while AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index. Over the past 10 years, RMUNX returned 3.73%/yr vs 1.59%/yr for AGG. At a 0.43 correlation, their price movements are largely independent. RMUNX charges 0.78%/yr vs 0.03%/yr for AGG.

Performance

RMUNX vs. AGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Rochester New York Municipals Fund (RMUNX) and iShares Core U.S. Aggregate Bond ETF (AGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMUNX achieves a 1.50% return, which is significantly higher than AGG's 0.47% return. Over the past 10 years, RMUNX has outperformed AGG with an annualized return of 3.73%, while AGG has yielded a comparatively lower 1.59% annualized return.

RMUNX

• 1D: 0.00%
• 1M: 0.75%
• YTD: 1.50%
• 6M: 1.76%
• 1Y: 6.04%
• 3Y*: 3.30%
• 5Y*: 0.01%
• 10Y*: 3.73%

AGG

• 1D: 0.03%
• 1M: 0.14%
• YTD: 0.47%
• 6M: 0.49%
• 1Y: 5.29%
• 3Y*: 4.02%
• 5Y*: 0.23%
• 10Y*: 1.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RMUNX vs. AGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMUNX Invesco Rochester New York Municipals Fund	1.50%	0.82%	2.37%	9.85%	-15.09%	6.83%	5.84%	13.22%	8.89%	3.69%
AGG iShares Core U.S. Aggregate Bond ETF	0.47%	7.19%	1.31%	5.65%	-13.02%	-1.77%	7.48%	8.46%	0.09%	3.55%

Correlation

The correlation between RMUNX and AGG is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 29, 2003	0.43

The correlation between RMUNX and AGG shifts across timeframes, from 0.43 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

RMUNX vs. AGG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RMUNX

RMUNX Risk / Return Rank: 19
RMUNX Sharpe Ratio Rank: 21
RMUNX Sortino Ratio Rank: 24
RMUNX Omega Ratio Rank: 28
RMUNX Calmar Ratio Rank: 13
RMUNX Martin Ratio Rank: 11

AGG

AGG Risk / Return Rank: 37
AGG Sharpe Ratio Rank: 38
AGG Sortino Ratio Rank: 40
AGG Omega Ratio Rank: 37
AGG Calmar Ratio Rank: 36
AGG Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RMUNX vs. AGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Rochester New York Municipals Fund (RMUNX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.

	RMUNX	AGG	Difference
Sharpe ratio Return per unit of total volatility	1.36	1.38	-0.02
Sortino ratio Return per unit of downside risk	2.09	2.06	+0.03
Omega ratio Gain probability vs. loss probability	1.28	1.25	+0.04
Calmar ratio Return relative to maximum drawdown	1.25	1.81	-0.56
Martin ratio Return relative to average drawdown	3.30	5.61	-2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMUNX vs. AGG - Sharpe Ratio Comparison

The current RMUNX Sharpe Ratio is 1.36, which is comparable to the AGG Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of RMUNX and AGG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RMUNX	AGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	1.38	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.04	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.30	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.59	+0.44

Drawdowns

RMUNX vs. AGG - Drawdown Comparison

The maximum RMUNX drawdown since its inception was -36.55%, which is greater than AGG's maximum drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for RMUNX and AGG.

Drawdown Indicators

	RMUNX	AGG	Difference
Max Drawdown Largest peak-to-trough decline	-36.55%	-18.43%	-18.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.29%	-2.76%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-10.10%	-6.11%	-3.99%
Max Drawdown (5Y) Largest decline over 5 years	-21.81%	-17.82%	-3.99%
Max Drawdown (10Y) Largest decline over 10 years	-21.81%	-18.43%	-3.38%
Current Drawdown Current decline from peak	-2.35%	-1.93%	-0.42%
Average Drawdown Average peak-to-trough decline	-3.25%	-2.71%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	0.89%	+0.80%

Volatility

RMUNX vs. AGG - Volatility Comparison

Invesco Rochester New York Municipals Fund (RMUNX) has a higher volatility of 1.68% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.32%. This indicates that RMUNX's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMUNX	AGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	1.32%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	2.76%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	4.51%	3.85%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.64%	6.09%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.00%	5.41%	+0.59%

RMUNX vs. AGG - Expense Ratio Comparison

RMUNX has a 0.78% expense ratio, which is higher than AGG's 0.03% expense ratio.

Dividends

RMUNX vs. AGG - Dividend Comparison

RMUNX's dividend yield for the trailing twelve months is around 3.14%, less than AGG's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGG iShares Core U.S. Aggregate Bond ETF	3.98%	3.89%	3.74%	3.13%	2.39%	1.77%	2.14%	2.70%	2.72%	2.32%	2.39%	2.45%
RMUNX Invesco Rochester New York Municipals Fund	3.14%	5.30%	4.81%	3.77%	3.03%	3.24%	3.32%	3.43%	3.40%	4.34%	6.01%	6.55%

Frequently Asked Questions

Can I hold both RMUNX and AGG in my portfolio?

RMUNX and AGG have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMUNX or AGG?

RMUNX has higher volatility (1.68%) compared to AGG (1.32%). In terms of maximum drawdown, RMUNX dropped -36.55% vs AGG's -18.43%.

Which has better risk-adjusted returns?

AGG currently has the higher Sharpe Ratio (1.38 vs 1.36), 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.