VGM vs. ONEQ
Compare and contrast key facts about Invesco Trust for Investment Grade Municipals (VGM) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VGM or ONEQ.
Key characteristics
| VGM | ONEQ | |
|---|---|---|
| YTD Return | 9.35% | 27.76% |
| 1Y Return | 19.26% | 36.18% |
| 3Y Return (Ann) | -4.41% | 7.73% |
| 5Y Return (Ann) | 0.88% | 18.66% |
| 10Y Return (Ann) | 3.08% | 16.32% |
| Sharpe Ratio | 1.96 | 2.11 |
| Sortino Ratio | 3.09 | 2.76 |
| Omega Ratio | 1.37 | 1.38 |
| Calmar Ratio | 0.69 | 2.74 |
| Martin Ratio | 10.94 | 10.42 |
| Ulcer Index | 1.76% | 3.48% |
| Daily Std Dev | 9.85% | 17.16% |
| Max Drawdown | -49.37% | -55.09% |
| Current Drawdown | -15.59% | -1.06% |
Correlation
The correlation between VGM and ONEQ is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
VGM vs. ONEQ - Performance Comparison
In the year-to-date period, VGM achieves a 9.35% return, which is significantly lower than ONEQ's 27.76% return. Over the past 10 years, VGM has underperformed ONEQ with an annualized return of 3.08%, while ONEQ has yielded a comparatively higher 16.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
VGM vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Trust for Investment Grade Municipals (VGM) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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.
Dividends
VGM vs. ONEQ - Dividend Comparison
VGM's dividend yield for the trailing twelve months is around 5.97%, more than ONEQ's 0.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGM Invesco Trust for Investment Grade Municipals | 5.97% | 4.40% | 5.66% | 4.66% | 4.66% | 4.86% | 5.99% | 5.83% | 6.52% | 6.62% | 6.64% | 7.68% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.61% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% | 0.84% |
Drawdowns
VGM vs. ONEQ - Drawdown Comparison
The maximum VGM drawdown since its inception was -49.37%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for VGM and ONEQ. For additional features, visit the drawdowns tool.
Volatility
VGM vs. ONEQ - Volatility Comparison
The current volatility for Invesco Trust for Investment Grade Municipals (VGM) is 3.33%, while Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) has a volatility of 5.44%. This indicates that VGM experiences smaller price fluctuations and is considered to be less risky than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.