VKI vs. VLT
VKI (Invesco Advantage Municipal Income Trust II) and VLT (Invesco High Income Trust II) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, VKI returned 1.91%/yr vs 6.47%/yr for VLT. At a 0.17 correlation, their price movements are largely independent.
Performance
VKI vs. VLT - Performance Comparison
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Returns By Period
In the year-to-date period, VKI achieves a 0.05% return, which is significantly higher than VLT's -2.21% return. Over the past 10 years, VKI has underperformed VLT with an annualized return of 1.91%, while VLT has yielded a comparatively higher 6.47% annualized return.
VKI
- 1D
- -0.56%
- 1M
- 2.95%
- YTD
- 0.05%
- 6M
- 5.48%
- 1Y
- 16.44%
- 3Y*
- 8.95%
- 5Y*
- -0.52%
- 10Y*
- 1.91%
VLT
- 1D
- -0.29%
- 1M
- 0.95%
- YTD
- -2.21%
- 6M
- -0.98%
- 1Y
- 8.60%
- 3Y*
- 11.91%
- 5Y*
- 3.82%
- 10Y*
- 6.47%
VKI vs. VLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VKI Invesco Advantage Municipal Income Trust II | 0.05% | 12.79% | 10.19% | 3.06% | -25.51% | 12.59% | 6.75% | 18.99% | -8.07% | 7.82% |
VLT Invesco High Income Trust II | -2.21% | 13.22% | 17.38% | 13.12% | -20.82% | 14.53% | 4.46% | 23.60% | -7.97% | 10.68% |
Correlation
The correlation between VKI and VLT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 1995 | 0.17 |
Over the past year, VKI and VLT have become more correlated (0.38) than their long-term average of 0.17, meaning their price movements have been converging.
Fundamentals
VKI:
$393.01M
VLT:
$68.11M
VKI:
$0.57
VLT:
$1.84
VKI:
15.43
VLT:
5.67
VKI:
0.22
VLT:
0.02
VKI:
7.61
VLT:
4.11
VKI:
0.97
VLT:
0.95
VKI:
$51.65M
VLT:
$16.55M
VKI:
$37.27M
VLT:
$13.85M
VKI:
$34.88M
VLT:
$16.82M
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Return for Risk
VKI vs. VLT — Risk / Return Rank
VKI
VLT
VKI vs. VLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Advantage Municipal Income Trust II (VKI) and Invesco High Income Trust II (VLT). 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.
| VKI | VLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 0.82 | +0.51 |
| Martin ratioReturn relative to average drawdown | 4.75 | 2.92 | +1.83 |
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
| VKI | VLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 1.07 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.33 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.47 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.14 | +0.17 |
Drawdowns
VKI vs. VLT - Drawdown Comparison
The maximum VKI drawdown since its inception was -52.22%, smaller than the maximum VLT drawdown of -75.78%. Use the drawdown chart below to compare losses from any high point for VKI and VLT.
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Drawdown Indicators
| VKI | VLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.22% | -75.78% | +23.56% |
Max Drawdown (1Y)Largest decline over 1 year | -12.39% | -10.55% | -1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.37% | -13.41% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -38.36% | -30.46% | -7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | -42.02% | +3.66% |
Current DrawdownCurrent decline from peak | -8.58% | -3.42% | -5.16% |
Average DrawdownAverage peak-to-trough decline | -8.82% | -16.95% | +8.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.95% | +0.52% |
Volatility
VKI vs. VLT - Volatility Comparison
Invesco Advantage Municipal Income Trust II (VKI) has a higher volatility of 4.35% compared to Invesco High Income Trust II (VLT) at 3.42%. This indicates that VKI's price experiences larger fluctuations and is considered to be riskier than VLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VKI | VLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 3.42% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 10.79% | 6.57% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.37% | 8.05% | +4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.05% | 11.72% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.10% | 13.93% | -0.83% |
Dividends
VKI vs. VLT - Dividend Comparison
VKI's dividend yield for the trailing twelve months is around 7.58%, less than VLT's 10.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VKI Invesco Advantage Municipal Income Trust II | 7.58% | 7.36% | 6.43% | 4.61% | 6.04% | 4.77% | 4.72% | 4.91% | 6.25% | 5.77% | 6.61% | 6.62% |
VLT Invesco High Income Trust II | 10.78% | 10.27% | 10.55% | 11.13% | 11.27% | 8.06% | 8.51% | 8.10% | 8.44% | 7.00% | 8.06% | 9.71% |
Financials
VKI vs. VLT - Financials Comparison
This section allows you to compare key financial metrics between Invesco Advantage Municipal Income Trust II and Invesco High Income Trust II. 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
VKI and VLT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VKI has higher volatility (4.35%) compared to VLT (3.42%). In terms of maximum drawdown, VKI dropped -52.22% vs VLT's -75.78%.
VKI currently has the higher Sharpe Ratio (1.34 vs 1.07), 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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