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TAFTX vs. ACTHX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between TAFTX and ACTHX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.00.8

Performance

TAFTX vs. ACTHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Tax-Exempt Fund of California (TAFTX) and Invesco High Yield Municipal Fund (ACTHX). The values are adjusted to include any dividend payments, if applicable.

250.00%300.00%350.00%400.00%450.00%500.00%JulyAugustSeptemberOctoberNovemberDecember
508.91%
251.65%
TAFTX
ACTHX

Key characteristics

Sharpe Ratio

TAFTX:

0.76

ACTHX:

0.89

Sortino Ratio

TAFTX:

1.03

ACTHX:

1.26

Omega Ratio

TAFTX:

1.16

ACTHX:

1.20

Calmar Ratio

TAFTX:

0.51

ACTHX:

0.39

Martin Ratio

TAFTX:

2.96

ACTHX:

3.78

Ulcer Index

TAFTX:

0.84%

ACTHX:

1.13%

Daily Std Dev

TAFTX:

3.28%

ACTHX:

4.78%

Max Drawdown

TAFTX:

-16.03%

ACTHX:

-27.29%

Current Drawdown

TAFTX:

-2.12%

ACTHX:

-5.92%

Returns By Period

In the year-to-date period, TAFTX achieves a 1.96% return, which is significantly lower than ACTHX's 3.82% return. Over the past 10 years, TAFTX has underperformed ACTHX with an annualized return of 2.21%, while ACTHX has yielded a comparatively higher 3.14% annualized return.


TAFTX

YTD

1.96%

1M

-0.72%

6M

1.06%

1Y

2.42%

5Y*

0.96%

10Y*

2.21%

ACTHX

YTD

3.82%

1M

-1.62%

6M

0.98%

1Y

4.27%

5Y*

0.71%

10Y*

3.14%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


TAFTX vs. ACTHX - Expense Ratio Comparison

TAFTX has a 0.57% expense ratio, which is lower than ACTHX's 1.39% expense ratio.


ACTHX
Invesco High Yield Municipal Fund
Expense ratio chart for ACTHX: current value at 1.39% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.39%
Expense ratio chart for TAFTX: current value at 0.57% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.57%

Risk-Adjusted Performance

TAFTX vs. ACTHX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Tax-Exempt Fund of California (TAFTX) and Invesco High Yield Municipal Fund (ACTHX). 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.


Sharpe ratio
The chart of Sharpe ratio for TAFTX, currently valued at 0.76, compared to the broader market-1.000.001.002.003.004.000.760.89
The chart of Sortino ratio for TAFTX, currently valued at 1.03, compared to the broader market-2.000.002.004.006.008.0010.001.031.26
The chart of Omega ratio for TAFTX, currently valued at 1.16, compared to the broader market0.501.001.502.002.503.003.501.161.20
The chart of Calmar ratio for TAFTX, currently valued at 0.51, compared to the broader market0.002.004.006.008.0010.0012.0014.000.510.39
The chart of Martin ratio for TAFTX, currently valued at 2.96, compared to the broader market0.0020.0040.0060.002.963.78
TAFTX
ACTHX

The current TAFTX Sharpe Ratio is 0.76, which is comparable to the ACTHX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of TAFTX and ACTHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
0.76
0.89
TAFTX
ACTHX

Dividends

TAFTX vs. ACTHX - Dividend Comparison

TAFTX's dividend yield for the trailing twelve months is around 2.87%, less than ACTHX's 4.79% yield.


TTM20232022202120202019201820172016201520142013
TAFTX
American Funds Tax-Exempt Fund of California
2.87%2.67%2.42%2.01%2.27%2.65%2.93%2.95%3.13%3.32%3.43%3.84%
ACTHX
Invesco High Yield Municipal Fund
4.79%5.06%4.73%3.95%4.30%4.32%4.75%4.72%5.17%4.99%5.21%5.91%

Drawdowns

TAFTX vs. ACTHX - Drawdown Comparison

The maximum TAFTX drawdown since its inception was -16.03%, smaller than the maximum ACTHX drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for TAFTX and ACTHX. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-2.12%
-5.92%
TAFTX
ACTHX

Volatility

TAFTX vs. ACTHX - Volatility Comparison

The current volatility for American Funds Tax-Exempt Fund of California (TAFTX) is 1.25%, while Invesco High Yield Municipal Fund (ACTHX) has a volatility of 1.51%. This indicates that TAFTX experiences smaller price fluctuations and is considered to be less risky than ACTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.50%1.00%1.50%2.00%JulyAugustSeptemberOctoberNovemberDecember
1.25%
1.51%
TAFTX
ACTHX
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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