VCV vs. DTF
VCV (Invesco California Value Municipal Income Trust) and DTF (DTF Tax-Free Income 2028 Term Fund Inc.) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, VCV returned 2.17%/yr vs 0.16%/yr for DTF. At a 0.24 correlation, their price movements are largely independent.
Performance
VCV vs. DTF - Performance Comparison
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Returns By Period
In the year-to-date period, VCV achieves a -0.47% return, which is significantly lower than DTF's 1.98% return. Over the past 10 years, VCV has outperformed DTF with an annualized return of 2.17%, while DTF has yielded a comparatively lower 0.16% annualized return.
VCV
- 1D
- -0.19%
- 1M
- 2.43%
- YTD
- -0.47%
- 6M
- 3.72%
- 1Y
- 13.06%
- 3Y*
- 10.68%
- 5Y*
- 0.52%
- 10Y*
- 2.17%
DTF
- 1D
- 0.09%
- 1M
- 1.17%
- YTD
- 1.98%
- 6M
- 2.88%
- 1Y
- 5.98%
- 3Y*
- 5.86%
- 5Y*
- -1.67%
- 10Y*
- 0.16%
VCV vs. DTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCV Invesco California Value Municipal Income Trust | -0.47% | 9.44% | 18.62% | 7.91% | -28.40% | 9.65% | 7.85% | 18.63% | -5.27% | 9.01% |
DTF DTF Tax-Free Income 2028 Term Fund Inc. | 1.98% | 5.41% | 8.07% | 2.12% | -21.17% | 0.09% | 4.11% | 23.44% | -7.25% | 2.16% |
Correlation
The correlation between VCV and DTF is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.24 |
The correlation between VCV and DTF shifts across timeframes, from 0.22 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
VCV:
$514.39M
DTF:
$80.49M
VCV:
$0.62
DTF:
$0.93
VCV:
17.20
DTF:
12.25
VCV:
7.92
DTF:
14.40
VCV:
1.01
DTF:
0.94
VCV:
$64.85M
DTF:
$5.59M
VCV:
$46.46M
DTF:
$5.07M
VCV:
$58.08M
DTF:
$5.07M
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Return for Risk
VCV vs. DTF — Risk / Return Rank
VCV
DTF
VCV vs. DTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco California Value Municipal Income Trust (VCV) and DTF Tax-Free Income 2028 Term Fund Inc. (DTF). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VCV | DTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 2.93 | -1.35 |
| Martin ratioReturn relative to average drawdown | 3.73 | 8.50 | -4.77 |
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Drawdowns
VCV vs. DTF - Drawdown Comparison
The maximum VCV drawdown since its inception was -59.02%, which is greater than DTF's maximum drawdown of -37.49%. Use the drawdown chart below to compare losses from any high point for VCV and DTF.
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Drawdown Indicators
| VCV | DTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.02% | -37.49% | -21.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.29% | -2.05% | -6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -16.99% | -5.42% | -11.57% |
Max Drawdown (5Y)Largest decline over 5 years | -38.55% | -25.73% | -12.82% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | -25.73% | -12.82% |
Current DrawdownCurrent decline from peak | -3.26% | -9.19% | +5.93% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -9.22% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 0.71% | +2.80% |
Volatility
VCV vs. DTF - Volatility Comparison
The current volatility for Invesco California Value Municipal Income Trust (VCV) is 1.41%, while DTF Tax-Free Income 2028 Term Fund Inc. (DTF) has a volatility of 1.70%. This indicates that VCV experiences smaller price fluctuations and is considered to be less risky than DTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCV | DTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.70% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 6.08% | 3.99% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 5.35% | +5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 8.08% | +4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.78% | 9.56% | +4.22% |
Dividends
VCV vs. DTF - Dividend Comparison
VCV's dividend yield for the trailing twelve months is around 7.25%, more than DTF's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DTF DTF Tax-Free Income 2028 Term Fund Inc. | 3.41% | 3.42% | 3.48% | 3.63% | 3.57% | 4.35% | 3.22% | 2.98% | 5.48% | 4.95% | 6.53% | 5.81% |
VCV Invesco California Value Municipal Income Trust | 7.25% | 6.96% | 5.76% | 4.16% | 5.46% | 4.09% | 4.07% | 4.43% | 5.46% | 5.10% | 5.86% | 5.98% |
Financials
VCV vs. DTF - Financials Comparison
This section allows you to compare key financial metrics between Invesco California Value Municipal Income Trust and DTF Tax-Free Income 2028 Term Fund Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
VCV and DTF have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DTF has higher volatility (1.70%) compared to VCV (1.41%). In terms of maximum drawdown, VCV dropped -59.02% vs DTF's -37.49%.
VCV currently has the higher Sharpe Ratio (1.26 vs 1.12), 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.
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