VKQ vs. HYMU

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Municipal Trust (VKQ) and BlackRock High Yield Muni Income Bond ETF (HYMU).

HYMU is an actively managed fund by BlackRock. It was launched on Mar 16, 2021.

Performance

VKQ vs. HYMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Municipal Trust (VKQ) and BlackRock High Yield Muni Income Bond ETF (HYMU). The values are adjusted to include any dividend payments, if applicable.

VKQ vs. HYMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VKQ Invesco Municipal Trust	1.52%	6.47%	9.70%	0.87%	-22.25%	7.65%
HYMU BlackRock High Yield Muni Income Bond ETF	0.29%	2.58%	6.99%	9.67%	-15.96%	6.71%

Returns By Period

In the year-to-date period, VKQ achieves a 1.52% return, which is significantly higher than HYMU's 0.29% 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%

HYMU

• 1D: 0.50%
• 1M: -1.14%
• YTD: 0.29%
• 6M: 1.40%
• 1Y: 1.57%
• 3Y*: 5.45%
• 5Y*: 1.45%
• 10Y*: —

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

Return for Risk

VKQ vs. HYMU — Risk / Return Rank

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

VKQ

VKQ Risk / Return Rank: 60
VKQ Sharpe Ratio Rank: 64
VKQ Sortino Ratio Rank: 54
VKQ Omega Ratio Rank: 53
VKQ Calmar Ratio Rank: 64
VKQ Martin Ratio Rank: 64

HYMU

HYMU Risk / Return Rank: 18
HYMU Sharpe Ratio Rank: 16
HYMU Sortino Ratio Rank: 14
HYMU Omega Ratio Rank: 18
HYMU Calmar Ratio Rank: 18
HYMU Martin Ratio Rank: 22

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.

VKQ vs. HYMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Trust (VKQ) and BlackRock High Yield Muni Income Bond ETF (HYMU). 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	HYMU	Difference
Sharpe ratio Return per unit of total volatility	0.65	0.20	+0.46
Sortino ratio Return per unit of downside risk	0.95	0.30	+0.65
Omega ratio Gain probability vs. loss probability	1.13	1.07	+0.06
Calmar ratio Return relative to maximum drawdown	1.12	0.31	+0.81
Martin ratio Return relative to average drawdown	2.61	1.53	+1.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VKQ vs. HYMU - Sharpe Ratio Comparison

The current VKQ Sharpe Ratio is 0.65, which is higher than the HYMU Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of VKQ and HYMU, 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

	VKQ	HYMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	0.20	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.21	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.23	+0.02

Correlation

The correlation between VKQ and HYMU is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VKQ vs. HYMU - Dividend Comparison

VKQ's dividend yield for the trailing twelve months is around 7.84%, more than HYMU's 4.51% 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%
HYMU BlackRock High Yield Muni Income Bond ETF	4.51%	4.55%	4.35%	4.35%	4.01%	2.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VKQ vs. HYMU - Drawdown Comparison

The maximum VKQ drawdown since its inception was -51.05%, which is greater than HYMU's maximum drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for VKQ and HYMU.

Drawdown Indicators

	VKQ	HYMU	Difference
Max Drawdown Largest peak-to-trough decline	-51.05%	-22.55%	-28.50%
Max Drawdown (1Y) Largest decline over 1 year	-6.49%	-6.54%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-37.29%	-22.55%	-14.74%
Max Drawdown (10Y) Largest decline over 10 years	-37.29%	—	—
Current Drawdown Current decline from peak	-10.17%	-1.39%	-8.78%
Average Drawdown Average peak-to-trough decline	-9.86%	-6.97%	-2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.37%	+1.62%

Volatility

VKQ vs. HYMU - Volatility Comparison

Invesco Municipal Trust (VKQ) has a higher volatility of 3.53% compared to BlackRock High Yield Muni Income Bond ETF (HYMU) at 1.29%. This indicates that VKQ's price experiences larger fluctuations and is considered to be riskier than HYMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VKQ	HYMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	1.29%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	1.81%	+3.95%
Volatility (1Y) Calculated over the trailing 1-year period	10.17%	7.95%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.60%	7.08%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.75%	7.05%	+5.70%