VKQ vs. VWAHX
Compare and contrast key facts about Invesco Municipal Trust (VKQ) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Performance
VKQ vs. VWAHX - Performance Comparison
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VKQ vs. VWAHX - 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | -0.27% | 4.96% | 3.98% | 8.39% | -11.76% | 3.36% | 5.39% | 9.48% | 1.31% | 7.86% |
Returns By Period
In the year-to-date period, VKQ achieves a 1.52% return, which is significantly higher than VWAHX's -0.27% return. Over the past 10 years, VKQ has underperformed VWAHX with an annualized return of 2.42%, while VWAHX has yielded a comparatively higher 2.99% 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%
VWAHX
- 1D
- 0.38%
- 1M
- -2.23%
- YTD
- -0.27%
- 6M
- 1.32%
- 1Y
- 3.98%
- 3Y*
- 4.54%
- 5Y*
- 1.48%
- 10Y*
- 2.99%
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Return for Risk
VKQ vs. VWAHX — Risk / Return Rank
VKQ
VWAHX
VKQ vs. VWAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Trust (VKQ) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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 | VWAHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.65 | 0.78 | -0.13 |
Sortino ratioReturn per unit of downside risk | 0.95 | 1.06 | -0.11 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.22 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.95 | +0.17 |
Martin ratioReturn relative to average drawdown | 2.61 | 2.94 | -0.33 |
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
| VKQ | VWAHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.78 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.31 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.65 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.64 | -0.39 |
Correlation
The correlation between VKQ and VWAHX is 0.27, 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. VWAHX - Dividend Comparison
VKQ's dividend yield for the trailing twelve months is around 7.84%, more than VWAHX's 4.06% 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% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 4.06% | 4.95% | 4.38% | 3.53% | 3.36% | 2.98% | 3.31% | 3.94% | 3.78% | 3.68% | 3.75% | 3.67% |
Drawdowns
VKQ vs. VWAHX - Drawdown Comparison
The maximum VKQ drawdown since its inception was -51.05%, which is greater than VWAHX's maximum drawdown of -40.26%. Use the drawdown chart below to compare losses from any high point for VKQ and VWAHX.
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Drawdown Indicators
| VKQ | VWAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.05% | -40.26% | -10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -5.63% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -37.29% | -17.32% | -19.97% |
Max Drawdown (10Y)Largest decline over 10 years | -37.29% | -17.32% | -19.97% |
Current DrawdownCurrent decline from peak | -10.17% | -2.50% | -7.67% |
Average DrawdownAverage peak-to-trough decline | -9.86% | -6.95% | -2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 1.82% | +1.17% |
Volatility
VKQ vs. VWAHX - Volatility Comparison
Invesco Municipal Trust (VKQ) has a higher volatility of 3.53% compared to Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) at 1.29%. This indicates that VKQ's price experiences larger fluctuations and is considered to be riskier than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VKQ | VWAHX | 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% | 1.99% | +3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.17% | 5.70% | +4.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.60% | 4.75% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.75% | 4.61% | +8.14% |