VGM vs. GBAB
VGM (Invesco Trust for Investment Grade Municipals) and GBAB (Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, VGM returned 1.99%/yr vs 2.95%/yr for GBAB. At a 0.33 correlation, their price movements are largely independent.
Performance
VGM vs. GBAB - Performance Comparison
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Returns By Period
In the year-to-date period, VGM achieves a 0.07% return, which is significantly higher than GBAB's -1.76% return. Over the past 10 years, VGM has underperformed GBAB with an annualized return of 1.99%, while GBAB has yielded a comparatively higher 2.95% annualized return.
VGM
- 1D
- -1.08%
- 1M
- 0.63%
- YTD
- 0.07%
- 6M
- 1.38%
- 1Y
- 13.50%
- 3Y*
- 8.27%
- 5Y*
- -0.64%
- 10Y*
- 1.99%
GBAB
- 1D
- -0.21%
- 1M
- -0.73%
- YTD
- -1.76%
- 6M
- -4.71%
- 1Y
- 4.92%
- 3Y*
- 4.63%
- 5Y*
- -2.24%
- 10Y*
- 2.95%
VGM vs. GBAB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGM Invesco Trust for Investment Grade Municipals | 0.07% | 11.03% | 8.77% | 2.99% | -24.15% | 10.88% | 7.97% | 17.59% | -7.86% | 9.51% |
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust | -1.76% | 8.38% | 2.86% | 8.57% | -25.10% | -0.92% | 14.69% | 15.16% | 3.50% | 13.55% |
Correlation
The correlation between VGM and GBAB is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010 | 0.33 |
The correlation between VGM and GBAB shifts across timeframes, from 0.30 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
VGM:
$545.57M
GBAB:
$382.29M
VGM:
$0.69
GBAB:
$2.68
VGM:
14.62
GBAB:
5.24
VGM:
0.15
GBAB:
0.47
VGM:
7.70
GBAB:
9.75
VGM:
0.95
GBAB:
0.92
VGM:
$70.86M
GBAB:
$39.21M
VGM:
$52.49M
GBAB:
$20.27M
VGM:
$49.62M
GBAB:
$108.83M
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Return for Risk
VGM vs. GBAB — Risk / Return Rank
VGM
GBAB
VGM vs. GBAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Trust for Investment Grade Municipals (VGM) and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB). 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.
| VGM | GBAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.09 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 0.50 | +1.12 |
| Martin ratioReturn relative to average drawdown | 7.35 | 1.52 | +5.83 |
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
| VGM | GBAB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.43 | +0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | -0.15 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.20 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.39 | -0.10 |
Drawdowns
VGM vs. GBAB - Drawdown Comparison
The maximum VGM drawdown since its inception was -49.40%, which is greater than GBAB's maximum drawdown of -35.81%. Use the drawdown chart below to compare losses from any high point for VGM and GBAB.
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Drawdown Indicators
| VGM | GBAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.40% | -35.81% | -13.59% |
Max Drawdown (1Y)Largest decline over 1 year | -8.42% | -9.98% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -15.65% | -17.29% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -36.61% | -35.81% | -0.80% |
Max Drawdown (10Y)Largest decline over 10 years | -36.61% | -35.81% | -0.80% |
Current DrawdownCurrent decline from peak | -6.68% | -14.95% | +8.27% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -8.28% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 3.24% | -1.40% |
Volatility
VGM vs. GBAB - Volatility Comparison
Invesco Trust for Investment Grade Municipals (VGM) has a higher volatility of 4.57% compared to Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) at 3.02%. This indicates that VGM's price experiences larger fluctuations and is considered to be riskier than GBAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGM | GBAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 3.02% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 8.90% | 8.65% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 11.48% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.55% | 14.63% | -3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.41% | 14.96% | -2.55% |
Dividends
VGM vs. GBAB - Dividend Comparison
VGM's dividend yield for the trailing twelve months is around 7.71%, less than GBAB's 10.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust | 10.74% | 10.11% | 9.93% | 9.32% | 9.22% | 6.36% | 5.92% | 6.37% | 6.88% | 6.64% | 7.51% | 7.78% |
VGM Invesco Trust for Investment Grade Municipals | 7.71% | 7.48% | 6.35% | 4.42% | 5.67% | 4.65% | 4.65% | 4.82% | 5.97% | 5.79% | 6.50% | 6.62% |
Financials
VGM vs. GBAB - Financials Comparison
This section allows you to compare key financial metrics between Invesco Trust for Investment Grade Municipals and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust. 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
VGM and GBAB have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGM has higher volatility (4.57%) compared to GBAB (3.02%). In terms of maximum drawdown, VGM dropped -49.40% vs GBAB's -35.81%.
VGM currently has the higher Sharpe Ratio (1.32 vs 0.43), 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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