VKQ vs. HYD
Compare and contrast key facts about Invesco Municipal Trust (VKQ) and VanEck Vectors High-Yield Municipal Index ETF (HYD).
HYD is a passively managed fund by VanEck that tracks the performance of the Bloomberg Barclays Municipal Custom High Yield Composite Index. It was launched on Feb 4, 2009.
Performance
VKQ vs. HYD - Performance Comparison
Loading graphics...
VKQ vs. HYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VKQ Invesco Municipal Trust | 1.52% | 6.47% | 9.70% | 0.87% | -22.25% | 9.82% | 8.91% | 16.66% | -5.65% | 7.97% |
HYD VanEck Vectors High-Yield Municipal Index ETF | -0.34% | 2.83% | 4.94% | 6.52% | -15.97% | 5.05% | 0.17% | 9.34% | 2.19% | 9.78% |
Returns By Period
In the year-to-date period, VKQ achieves a 1.52% return, which is significantly higher than HYD's -0.34% return. Over the past 10 years, VKQ has outperformed HYD with an annualized return of 2.42%, while HYD has yielded a comparatively lower 2.06% annualized return.
VKQ
- 1D
- 0.95%
- 1M
- -2.98%
- YTD
- 1.52%
- 6M
- 3.19%
- 1Y
- 6.59%
- 3Y*
- 5.66%
- 5Y*
- -0.38%
- 10Y*
- 2.42%
HYD
- 1D
- 0.90%
- 1M
- -1.26%
- YTD
- -0.34%
- 6M
- 1.38%
- 1Y
- 2.70%
- 3Y*
- 3.60%
- 5Y*
- -0.11%
- 10Y*
- 2.06%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VKQ vs. HYD — Risk / Return Rank
VKQ
HYD
VKQ vs. HYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Trust (VKQ) and VanEck Vectors High-Yield Municipal Index ETF (HYD). 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.
| VKQ | HYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.65 | 0.46 | +0.19 |
Sortino ratioReturn per unit of downside risk | 0.95 | 0.59 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.11 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.73 | +0.39 |
Martin ratioReturn relative to average drawdown | 2.61 | 1.76 | +0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VKQ | HYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.46 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | -0.02 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.16 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.44 | -0.19 |
Correlation
The correlation between VKQ and HYD is 0.32, 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
VKQ vs. HYD - Dividend Comparison
VKQ's dividend yield for the trailing twelve months is around 7.84%, more than HYD's 4.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VKQ Invesco Municipal Trust | 7.84% | 7.81% | 6.43% | 4.60% | 5.63% | 4.71% | 4.65% | 4.96% | 5.98% | 5.78% | 6.44% | 6.39% |
HYD VanEck Vectors High-Yield Municipal Index ETF | 4.38% | 4.29% | 4.29% | 4.13% | 3.96% | 3.50% | 4.01% | 4.08% | 4.43% | 4.29% | 4.58% | 4.82% |
Drawdowns
VKQ vs. HYD - Drawdown Comparison
The maximum VKQ drawdown since its inception was -51.05%, which is greater than HYD's maximum drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for VKQ and HYD.
Loading graphics...
Drawdown Indicators
| VKQ | HYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.05% | -35.61% | -15.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -4.42% | -2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -37.29% | -20.72% | -16.57% |
Max Drawdown (10Y)Largest decline over 10 years | -37.29% | -35.61% | -1.68% |
Current DrawdownCurrent decline from peak | -10.17% | -4.40% | -5.77% |
Average DrawdownAverage peak-to-trough decline | -9.86% | -4.34% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 1.83% | +1.16% |
Volatility
VKQ vs. HYD - Volatility Comparison
Invesco Municipal Trust (VKQ) has a higher volatility of 3.53% compared to VanEck Vectors High-Yield Municipal Index ETF (HYD) at 2.22%. This indicates that VKQ's price experiences larger fluctuations and is considered to be riskier than HYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| VKQ | HYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 2.22% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 2.83% | +2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.17% | 5.90% | +4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.60% | 6.44% | +5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.75% | 12.60% | +0.15% |