VMO vs. VEA
Compare and contrast key facts about Invesco Municipal Opportunity Trust (VMO) and Vanguard FTSE Developed Markets ETF (VEA).
VEA is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed All Cap ex US Index. It was launched on Jul 20, 2007.
Performance
VMO vs. VEA - Performance Comparison
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VMO vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMO Invesco Municipal Opportunity Trust | 1.72% | 6.57% | 7.73% | 1.54% | -24.29% | 12.95% | 8.89% | 16.23% | -4.54% | 3.05% |
VEA Vanguard FTSE Developed Markets ETF | 4.45% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
Returns By Period
In the year-to-date period, VMO achieves a 1.72% return, which is significantly lower than VEA's 4.45% return. Over the past 10 years, VMO has underperformed VEA with an annualized return of 1.84%, while VEA has yielded a comparatively higher 9.55% annualized return.
VMO
- 1D
- 0.42%
- 1M
- -3.79%
- YTD
- 1.72%
- 6M
- 2.53%
- 1Y
- 8.33%
- 3Y*
- 5.79%
- 5Y*
- -0.59%
- 10Y*
- 1.84%
VEA
- 1D
- 1.65%
- 1M
- -5.45%
- YTD
- 4.45%
- 6M
- 9.91%
- 1Y
- 31.74%
- 3Y*
- 16.71%
- 5Y*
- 8.93%
- 10Y*
- 9.55%
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Return for Risk
VMO vs. VEA — Risk / Return Rank
VMO
VEA
VMO vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Municipal Opportunity Trust (VMO) and Vanguard FTSE Developed Markets ETF (VEA). 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.
| VMO | VEA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.81 | -0.97 |
Sortino ratioReturn per unit of downside risk | 1.25 | 2.46 | -1.21 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.36 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.77 | -1.42 |
Martin ratioReturn relative to average drawdown | 4.14 | 10.77 | -6.63 |
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
| VMO | VEA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.81 | -0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.55 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.55 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.22 | +0.03 |
Correlation
The correlation between VMO and VEA is 0.16, 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
VMO vs. VEA - Dividend Comparison
VMO's dividend yield for the trailing twelve months is around 7.85%, more than VEA's 2.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMO Invesco Municipal Opportunity Trust | 7.85% | 7.84% | 6.44% | 4.47% | 5.69% | 4.64% | 4.66% | 4.94% | 5.95% | 5.98% | 6.73% | 6.33% |
VEA Vanguard FTSE Developed Markets ETF | 2.88% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Drawdowns
VMO vs. VEA - Drawdown Comparison
The maximum VMO drawdown since its inception was -50.11%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for VMO and VEA.
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Drawdown Indicators
| VMO | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.11% | -60.68% | +10.57% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -11.63% | +5.04% |
Max Drawdown (5Y)Largest decline over 5 years | -37.70% | -29.71% | -7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -37.70% | -35.73% | -1.97% |
Current DrawdownCurrent decline from peak | -10.60% | -7.20% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -9.88% | -13.39% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.99% | -0.84% |
Volatility
VMO vs. VEA - Volatility Comparison
The current volatility for Invesco Municipal Opportunity Trust (VMO) is 4.02%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 7.92%. This indicates that VMO experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMO | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 7.92% | -3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 11.68% | -5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.01% | 17.67% | -7.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.43% | 16.30% | -4.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.65% | 17.26% | -4.61% |