VBMFX vs. ACTHX
Compare and contrast key facts about Vanguard Total Bond Market Index Fund (VBMFX) and Invesco High Yield Municipal Fund (ACTHX).
VBMFX is managed by Vanguard. It was launched on Dec 11, 1986. ACTHX is managed by Invesco. It was launched on Jan 1, 1986.
Performance
VBMFX vs. ACTHX - Performance Comparison
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VBMFX vs. ACTHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund | -0.51% | 7.05% | 1.15% | 5.62% | -13.25% | -2.04% | 7.63% | 8.61% | -0.34% | 3.45% |
ACTHX Invesco High Yield Municipal Fund | -0.69% | 4.38% | 5.54% | 4.34% | -13.94% | 6.29% | 3.25% | 10.12% | 1.44% | 9.10% |
Returns By Period
In the year-to-date period, VBMFX achieves a -0.51% return, which is significantly higher than ACTHX's -0.69% return. Over the past 10 years, VBMFX has underperformed ACTHX with an annualized return of 1.48%, while ACTHX has yielded a comparatively higher 2.70% annualized return.
VBMFX
- 1D
- 0.52%
- 1M
- -2.23%
- YTD
- -0.51%
- 6M
- 0.45%
- 1Y
- 3.66%
- 3Y*
- 3.33%
- 5Y*
- 0.13%
- 10Y*
- 1.48%
ACTHX
- 1D
- 0.37%
- 1M
- -2.63%
- YTD
- -0.69%
- 6M
- 0.53%
- 1Y
- 2.42%
- 3Y*
- 3.60%
- 5Y*
- 0.51%
- 10Y*
- 2.70%
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VBMFX vs. ACTHX - Expense Ratio Comparison
VBMFX has a 0.15% expense ratio, which is lower than ACTHX's 1.39% expense ratio.
Return for Risk
VBMFX vs. ACTHX — Risk / Return Rank
VBMFX
ACTHX
VBMFX vs. ACTHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund (VBMFX) 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.
| VBMFX | ACTHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.97 | 0.56 | +0.41 |
Sortino ratioReturn per unit of downside risk | 1.41 | 0.82 | +0.59 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | 0.61 | +1.13 |
Martin ratioReturn relative to average drawdown | 4.94 | 1.70 | +3.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBMFX | ACTHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.56 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.09 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.51 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.96 | 1.09 | -0.12 |
Correlation
The correlation between VBMFX and ACTHX is 0.52, 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.
Dividends
VBMFX vs. ACTHX - Dividend Comparison
VBMFX's dividend yield for the trailing twelve months is around 3.51%, less than ACTHX's 5.44% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund | 3.51% | 3.76% | 3.57% | 2.99% | 2.49% | 1.72% | 2.31% | 2.63% | 2.47% | 2.45% | 2.43% | 2.71% |
ACTHX Invesco High Yield Municipal Fund | 5.44% | 7.14% | 5.64% | 4.22% | 4.72% | 3.95% | 4.33% | 4.70% | 4.78% | 4.71% | 5.11% | 4.93% |
Drawdowns
VBMFX vs. ACTHX - Drawdown Comparison
The maximum VBMFX drawdown since its inception was -19.08%, smaller than the maximum ACTHX drawdown of -27.29%. Use the drawdown chart below to compare losses from any high point for VBMFX and ACTHX.
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Drawdown Indicators
| VBMFX | ACTHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.08% | -27.29% | +8.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -6.45% | +3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -18.24% | -19.83% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -19.08% | -19.83% | +0.75% |
Current DrawdownCurrent decline from peak | -3.76% | -2.63% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -3.57% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 2.32% | -1.36% |
Volatility
VBMFX vs. ACTHX - Volatility Comparison
Vanguard Total Bond Market Index Fund (VBMFX) has a higher volatility of 1.55% compared to Invesco High Yield Municipal Fund (ACTHX) at 1.24%. This indicates that VBMFX's price experiences larger fluctuations and is considered to be riskier than ACTHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBMFX | ACTHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.24% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 2.21% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 6.89% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 5.67% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 5.36% | -0.40% |