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.
Performance
VGM vs. ONEQ - Performance Comparison
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VGM vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGM Invesco Trust for Investment Grade Municipals | -0.88% | 11.03% | 8.77% | 2.99% | -24.15% | 10.88% | 7.97% | 17.59% | -7.86% | 9.51% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | -5.66% | 20.89% | 29.30% | 45.73% | -32.12% | 22.11% | 44.87% | 38.01% | -3.18% | 29.29% |
Returns By Period
In the year-to-date period, VGM achieves a -0.88% return, which is significantly higher than ONEQ's -5.66% return. Over the past 10 years, VGM has underperformed ONEQ with an annualized return of 2.34%, while ONEQ has yielded a comparatively higher 17.32% annualized return.
VGM
- 1D
- 2.23%
- 1M
- -3.12%
- YTD
- -0.88%
- 6M
- 2.50%
- 1Y
- 8.61%
- 3Y*
- 7.20%
- 5Y*
- -0.01%
- 10Y*
- 2.34%
ONEQ
- 1D
- 1.19%
- 1M
- -3.69%
- YTD
- -5.66%
- 6M
- -3.52%
- 1Y
- 26.29%
- 3Y*
- 22.37%
- 5Y*
- 11.29%
- 10Y*
- 17.32%
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Return for Risk
VGM vs. ONEQ — Risk / Return Rank
VGM
ONEQ
VGM vs. ONEQ - Risk-Adjusted Trends 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.
| VGM | ONEQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 1.14 | -0.31 |
Sortino ratioReturn per unit of downside risk | 1.17 | 1.75 | -0.58 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.08 | -0.95 |
Martin ratioReturn relative to average drawdown | 3.25 | 7.64 | -4.39 |
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 | ONEQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.14 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 0.51 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.80 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.61 | -0.31 |
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.
Dividends
VGM vs. ONEQ - Dividend Comparison
VGM's dividend yield for the trailing twelve months is around 7.68%, more than ONEQ's 0.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGM Invesco Trust for Investment Grade Municipals | 7.68% | 7.48% | 6.35% | 4.42% | 5.67% | 4.65% | 4.65% | 4.82% | 5.97% | 5.79% | 6.50% | 6.62% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.82% | 0.54% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 2.51% | 1.08% | 0.84% | 1.12% | 1.04% |
Drawdowns
VGM vs. ONEQ - Drawdown Comparison
The maximum VGM drawdown since its inception was -49.40%, 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.
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Drawdown Indicators
| VGM | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.40% | -55.09% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.42% | -13.13% | +4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -36.61% | -35.23% | -1.38% |
Max Drawdown (10Y)Largest decline over 10 years | -36.61% | -35.23% | -1.38% |
Current DrawdownCurrent decline from peak | -7.57% | -8.26% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -8.01% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 3.57% | -0.65% |
Volatility
VGM vs. ONEQ - Volatility Comparison
The current volatility for Invesco Trust for Investment Grade Municipals (VGM) is 5.53%, while Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) has a volatility of 7.03%. 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.
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Volatility by Period
| VGM | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 7.03% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 12.96% | -5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 23.24% | -12.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.29% | 22.16% | -10.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.32% | 21.67% | -9.35% |