VMFXX vs. ICLO
Compare and contrast key facts about Vanguard Federal Money Market Fund (VMFXX) and Invesco Aaa Clo Floating Rate Note ETF (ICLO).
VMFXX is managed by Vanguard. It was launched on Sep 1, 2010. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMFXX or ICLO.
Key characteristics
| VMFXX | ICLO | |
|---|---|---|
| YTD Return | 3.59% | 5.01% |
| 1Y Return | 5.45% | 7.81% |
| Sharpe Ratio | 3.63 | 5.97 |
| Daily Std Dev | 1.49% | 1.30% |
| Max Drawdown | 0.00% | -0.83% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between VMFXX and ICLO is 0.00, 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.
Performance
VMFXX vs. ICLO - Performance Comparison
In the year-to-date period, VMFXX achieves a 3.59% return, which is significantly lower than ICLO's 5.01% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VMFXX vs. ICLO - Expense Ratio Comparison
VMFXX has a 0.00% expense ratio, which is lower than ICLO's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
VMFXX vs. ICLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Federal Money Market Fund (VMFXX) and Invesco Aaa Clo Floating Rate Note ETF (ICLO). 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.
Dividends
VMFXX vs. ICLO - Dividend Comparison
VMFXX's dividend yield for the trailing twelve months is around 5.30%, less than ICLO's 7.30% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMFXX Vanguard Federal Money Market Fund | 5.30% | 4.97% | 1.54% | 0.01% | 0.45% | 2.12% | 1.61% | 0.50% | 0.00% | 0.00% | 0.00% | 0.01% |
ICLO Invesco Aaa Clo Floating Rate Note ETF | 7.30% | 7.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMFXX vs. ICLO - Drawdown Comparison
The maximum VMFXX drawdown since its inception was 0.00%, smaller than the maximum ICLO drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for VMFXX and ICLO. For additional features, visit the drawdowns tool.
Volatility
VMFXX vs. ICLO - Volatility Comparison
The current volatility for Vanguard Federal Money Market Fund (VMFXX) is 0.45%, while Invesco Aaa Clo Floating Rate Note ETF (ICLO) has a volatility of 0.64%. This indicates that VMFXX experiences smaller price fluctuations and is considered to be less risky than ICLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.