VKMMX vs. IVNQX

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Municipal Income Fund (VKMMX) and Invesco Nasdaq 100 Index Fund (IVNQX).

VKMMX is managed by Invesco. It was launched on Jul 31, 1990. IVNQX is managed by Invesco. It was launched on Oct 13, 2020.

Performance

VKMMX vs. IVNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Municipal Income Fund (VKMMX) and Invesco Nasdaq 100 Index Fund (IVNQX). The values are adjusted to include any dividend payments, if applicable.

VKMMX vs. IVNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VKMMX Invesco Municipal Income Fund	-0.17%	3.03%	3.01%	6.50%	-12.49%	3.63%	3.61%
IVNQX Invesco Nasdaq 100 Index Fund	-5.88%	20.77%	25.43%	54.62%	-32.05%	26.75%	8.46%

Returns By Period

In the year-to-date period, VKMMX achieves a -0.17% return, which is significantly higher than IVNQX's -5.88% return.

VKMMX

• 1D: 0.43%
• 1M: -2.03%
• YTD: -0.17%
• 6M: 0.93%
• 1Y: 2.25%
• 3Y*: 3.08%
• 5Y*: 0.38%
• 10Y*: 1.99%

IVNQX

• 1D: 3.42%
• 1M: -4.94%
• YTD: -5.88%
• 6M: -4.11%
• 1Y: 22.78%
• 3Y*: 22.26%
• 5Y*: 12.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VKMMX vs. IVNQX - Expense Ratio Comparison

VKMMX has a 0.81% expense ratio, which is higher than IVNQX's 0.29% expense ratio.

VKMMX

Invesco Municipal Income Fund

IVNQX

Invesco Nasdaq 100 Index Fund

Return for Risk

VKMMX vs. IVNQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VKMMX

VKMMX Risk / Return Rank: 15
VKMMX Sharpe Ratio Rank: 13
VKMMX Sortino Ratio Rank: 11
VKMMX Omega Ratio Rank: 17
VKMMX Calmar Ratio Rank: 19
VKMMX Martin Ratio Rank: 14

IVNQX

IVNQX Risk / Return Rank: 61
IVNQX Sharpe Ratio Rank: 55
IVNQX Sortino Ratio Rank: 62
IVNQX Omega Ratio Rank: 57
IVNQX Calmar Ratio Rank: 68
IVNQX Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VKMMX vs. IVNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Income Fund (VKMMX) and Invesco Nasdaq 100 Index Fund (IVNQX). 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.

	VKMMX	IVNQX	Difference
Sharpe ratio Return per unit of total volatility	0.44	1.06	-0.63
Sortino ratio Return per unit of downside risk	0.63	1.65	-1.02
Omega ratio Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio Return relative to maximum drawdown	0.67	1.63	-0.96
Martin ratio Return relative to average drawdown	1.77	6.05	-4.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VKMMX vs. IVNQX - Sharpe Ratio Comparison

The current VKMMX Sharpe Ratio is 0.44, which is lower than the IVNQX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of VKMMX and IVNQX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VKMMX	IVNQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	1.06	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.58	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.63	+0.40

Correlation

The correlation between VKMMX and IVNQX is 0.09, 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

VKMMX vs. IVNQX - Dividend Comparison

VKMMX's dividend yield for the trailing twelve months is around 4.01%, more than IVNQX's 1.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VKMMX Invesco Municipal Income Fund	4.01%	5.16%	4.06%	3.12%	3.42%	3.05%	2.86%	3.80%	4.07%	3.62%	4.14%	4.22%
IVNQX Invesco Nasdaq 100 Index Fund	1.39%	1.31%	0.72%	0.54%	0.73%	0.84%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VKMMX vs. IVNQX - Drawdown Comparison

The maximum VKMMX drawdown since its inception was -21.20%, smaller than the maximum IVNQX drawdown of -34.83%. Use the drawdown chart below to compare losses from any high point for VKMMX and IVNQX.

Drawdown Indicators

	VKMMX	IVNQX	Difference
Max Drawdown Largest peak-to-trough decline	-21.20%	-34.83%	+13.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	-12.56%	+6.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.97%	-34.83%	+16.86%
Max Drawdown (10Y) Largest decline over 10 years	-17.97%	—	—
Current Drawdown Current decline from peak	-2.28%	-8.94%	+6.66%
Average Drawdown Average peak-to-trough decline	-2.62%	-8.45%	+5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	3.39%	-1.15%

Volatility

VKMMX vs. IVNQX - Volatility Comparison

The current volatility for Invesco Municipal Income Fund (VKMMX) is 1.36%, while Invesco Nasdaq 100 Index Fund (IVNQX) has a volatility of 6.55%. This indicates that VKMMX experiences smaller price fluctuations and is considered to be less risky than IVNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VKMMX	IVNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	6.55%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	12.88%	-10.84%
Volatility (1Y) Calculated over the trailing 1-year period	6.27%	22.53%	-16.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.91%	22.51%	-17.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	22.56%	-17.79%