VKMMX vs. AFTEX
Compare and contrast key facts about Invesco Municipal Income Fund (VKMMX) and American Funds Tax Exempt Bond Fund (AFTEX).
VKMMX is managed by Invesco. It was launched on Jul 31, 1990. AFTEX is managed by American Funds. It was launched on Oct 2, 1979.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VKMMX or AFTEX.
Performance
VKMMX vs. AFTEX - Performance Comparison
Returns By Period
In the year-to-date period, VKMMX achieves a 3.04% return, which is significantly higher than AFTEX's 2.56% return. Over the past 10 years, VKMMX has outperformed AFTEX with an annualized return of 2.45%, while AFTEX has yielded a comparatively lower 2.31% annualized return.
VKMMX
3.04%
-0.03%
3.16%
8.00%
1.10%
2.45%
AFTEX
2.56%
0.02%
3.19%
6.96%
1.17%
2.31%
Key characteristics
| VKMMX | AFTEX | |
|---|---|---|
| Sharpe Ratio | 2.13 | 2.20 |
| Sortino Ratio | 3.17 | 3.30 |
| Omega Ratio | 1.48 | 1.51 |
| Calmar Ratio | 0.77 | 0.89 |
| Martin Ratio | 10.06 | 9.03 |
| Ulcer Index | 0.82% | 0.79% |
| Daily Std Dev | 3.89% | 3.25% |
| Max Drawdown | -21.20% | -14.38% |
| Current Drawdown | -3.61% | -1.59% |
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VKMMX vs. AFTEX - Expense Ratio Comparison
VKMMX has a 0.81% expense ratio, which is higher than AFTEX's 0.50% expense ratio.
Correlation
The correlation between VKMMX and AFTEX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
VKMMX vs. AFTEX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Income Fund (VKMMX) and American Funds Tax Exempt Bond Fund (AFTEX). 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
VKMMX vs. AFTEX - Dividend Comparison
VKMMX's dividend yield for the trailing twelve months is around 3.77%, more than AFTEX's 2.86% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VKMMX Invesco Municipal Income Fund | 3.77% | 3.75% | 3.42% | 3.04% | 2.84% | 3.55% | 4.07% | 3.61% | 4.13% | 4.22% | 4.14% | 4.38% |
AFTEX American Funds Tax Exempt Bond Fund | 2.86% | 2.69% | 2.33% | 1.95% | 2.27% | 2.63% | 2.88% | 3.05% | 3.17% | 3.21% | 3.38% | 3.52% |
Drawdowns
VKMMX vs. AFTEX - Drawdown Comparison
The maximum VKMMX drawdown since its inception was -21.20%, which is greater than AFTEX's maximum drawdown of -14.38%. Use the drawdown chart below to compare losses from any high point for VKMMX and AFTEX. For additional features, visit the drawdowns tool.
Volatility
VKMMX vs. AFTEX - Volatility Comparison
Invesco Municipal Income Fund (VKMMX) has a higher volatility of 1.83% compared to American Funds Tax Exempt Bond Fund (AFTEX) at 1.58%. This indicates that VKMMX's price experiences larger fluctuations and is considered to be riskier than AFTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.