VLT vs. VPV
VLT (Invesco High Income Trust II) and VPV (Invesco Pennsylvania Value Municipal Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, VLT returned 6.52%/yr vs 3.00%/yr for VPV. At a 0.14 correlation, their price movements are largely independent.
Performance
VLT vs. VPV - Performance Comparison
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Returns By Period
In the year-to-date period, VLT achieves a -2.57% return, which is significantly lower than VPV's 10.77% return. Over the past 10 years, VLT has outperformed VPV with an annualized return of 6.52%, while VPV has yielded a comparatively lower 3.00% annualized return.
VLT
- 1D
- 0.19%
- 1M
- -0.28%
- YTD
- -2.57%
- 6M
- -1.78%
- 1Y
- 6.92%
- 3Y*
- 11.14%
- 5Y*
- 3.35%
- 10Y*
- 6.52%
VPV
- 1D
- 0.00%
- 1M
- 3.46%
- YTD
- 10.77%
- 6M
- 11.51%
- 1Y
- 21.42%
- 3Y*
- 11.39%
- 5Y*
- 2.17%
- 10Y*
- 3.00%
VLT vs. VPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLT Invesco High Income Trust II | -2.57% | 13.22% | 17.38% | 13.12% | -20.82% | 14.53% | 4.46% | 23.60% | -7.97% | 10.68% |
VPV Invesco Pennsylvania Value Municipal Income Trust | 10.77% | 9.96% | 9.04% | 6.10% | -26.32% | 14.57% | 1.46% | 19.47% | 1.31% | 5.14% |
Correlation
The correlation between VLT and VPV is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 1994 | 0.14 |
The correlation between VLT and VPV shifts across timeframes, from 0.14 (all time) to 0.35 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
VLT:
$67.26M
VPV:
$199.63M
VLT:
$1.84
VPV:
$1.01
VLT:
5.60
VPV:
11.03
VLT:
0.02
VPV:
0.12
VLT:
4.06
VPV:
6.10
VLT:
0.94
VPV:
1.01
VLT:
$16.55M
VPV:
$32.74M
VLT:
$13.85M
VPV:
$24.84M
VLT:
$16.82M
VPV:
$22.21M
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Return for Risk
VLT vs. VPV — Risk / Return Rank
VLT
VPV
VLT vs. VPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco High Income Trust II (VLT) and Invesco Pennsylvania Value Municipal Income Trust (VPV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VLT | VPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.99 | -2.33 |
| Martin ratioReturn relative to average drawdown | 2.27 | 10.20 | -7.93 |
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Drawdowns
VLT vs. VPV - Drawdown Comparison
The maximum VLT drawdown since its inception was -75.78%, which is greater than VPV's maximum drawdown of -45.21%. Use the drawdown chart below to compare losses from any high point for VLT and VPV.
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Drawdown Indicators
| VLT | VPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.78% | -45.21% | -30.57% |
Max Drawdown (1Y)Largest decline over 1 year | -10.55% | -7.19% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -12.46% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -30.46% | -33.08% | +2.62% |
Max Drawdown (10Y)Largest decline over 10 years | -42.02% | -33.08% | -8.94% |
Current DrawdownCurrent decline from peak | -3.78% | -2.30% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -16.93% | -8.46% | -8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 2.11% | +0.95% |
Volatility
VLT vs. VPV - Volatility Comparison
The current volatility for Invesco High Income Trust II (VLT) is 1.99%, while Invesco Pennsylvania Value Municipal Income Trust (VPV) has a volatility of 3.91%. This indicates that VLT experiences smaller price fluctuations and is considered to be less risky than VPV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLT | VPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 3.91% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 8.79% | -2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 10.33% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.67% | 10.40% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.93% | 12.04% | +1.89% |
Dividends
VLT vs. VPV - Dividend Comparison
VLT's dividend yield for the trailing twelve months is around 10.87%, more than VPV's 7.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VLT Invesco High Income Trust II | 10.87% | 10.27% | 10.55% | 11.13% | 11.27% | 8.06% | 8.51% | 8.10% | 8.44% | 7.00% | 8.06% | 9.71% |
VPV Invesco Pennsylvania Value Municipal Income Trust | 7.17% | 7.65% | 6.07% | 3.81% | 5.48% | 4.29% | 4.61% | 4.85% | 5.94% | 5.15% | 6.00% | 6.09% |
Financials
VLT vs. VPV - Financials Comparison
This section allows you to compare key financial metrics between Invesco High Income Trust II and Invesco Pennsylvania Value Municipal Income Trust. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
VLT and VPV have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPV has higher volatility (3.91%) compared to VLT (1.99%). In terms of maximum drawdown, VLT dropped -75.78% vs VPV's -45.21%.
VPV currently has the higher Sharpe Ratio (2.08 vs 0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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