VPV vs. SPSK

Last updated Jun 24, 2026

VPV (Invesco Pennsylvania Value Municipal Income Trust) is a stock, while SPSK (SP Funds Dow Jones Global Sukuk ETF) is Global Bonds fund tracking the Dow Jones Sukuk Total Return (No Coupon Reinvestment). Over the past 5 years, VPV returned 2.17%/yr vs 0.89%/yr for SPSK. At a 0.23 correlation, their price movements are largely independent.

Performance

VPV vs. SPSK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Pennsylvania Value Municipal Income Trust (VPV) and SP Funds Dow Jones Global Sukuk ETF (SPSK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPV achieves a 10.77% return, which is significantly higher than SPSK's 0.14% return.

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%

SPSK

• 1D: 0.11%
• 1M: 0.48%
• YTD: 0.14%
• 6M: 0.23%
• 1Y: 3.45%
• 3Y*: 4.06%
• 5Y*: 0.89%
• 10Y*: —

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

VPV vs. SPSK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VPV Invesco Pennsylvania Value Municipal Income Trust	10.77%	9.96%	9.04%	6.10%	-26.32%	14.57%	1.46%	0.15%
SPSK SP Funds Dow Jones Global Sukuk ETF	0.14%	6.16%	2.95%	3.95%	-7.75%	-1.30%	3.67%	0.25%

Correlation

The correlation between VPV and SPSK is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019	0.23

Return for Risk

VPV vs. SPSK — Risk / Return Rank

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

VPV

VPV Risk / Return Rank: 88
VPV Sharpe Ratio Rank: 89
VPV Sortino Ratio Rank: 90
VPV Omega Ratio Rank: 89
VPV Calmar Ratio Rank: 83
VPV Martin Ratio Rank: 88

SPSK

SPSK Risk / Return Rank: 26
SPSK Sharpe Ratio Rank: 26
SPSK Sortino Ratio Rank: 25
SPSK Omega Ratio Rank: 23
SPSK Calmar Ratio Rank: 26
SPSK Martin Ratio Rank: 29

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.

VPV vs. SPSK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Pennsylvania Value Municipal Income Trust (VPV) and SP Funds Dow Jones Global Sukuk ETF (SPSK). 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.

	VPV	SPSK	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.91	+1.17
Sortino ratio: Return per unit of downside risk	3.12	1.33	+1.79
Omega ratio: Gain probability vs. loss probability	1.40	1.16	+0.24
Calmar ratio: Return relative to maximum drawdown	2.99	1.22	+1.78
Martin ratio: Return relative to average drawdown	10.20	3.96	+6.23

VPV vs. SPSK - Sharpe Ratio Comparison

The current VPV Sharpe Ratio is 2.08, which is higher than the SPSK Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of VPV and SPSK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VPV vs. SPSK - Drawdown Comparison

The maximum VPV drawdown since its inception was -45.21%, which is greater than SPSK's maximum drawdown of -12.83%. Use the drawdown chart below to compare losses from any high point for VPV and SPSK.

Drawdown Indicators

	VPV	SPSK	Difference
Max Drawdown Largest peak-to-trough decline	-45.21%	-12.83%	-32.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.19%	-2.85%	-4.34%
Max Drawdown (3Y) Largest decline over 3 years	-12.46%	-3.17%	-9.29%
Max Drawdown (5Y) Largest decline over 5 years	-33.08%	-12.45%	-20.63%
Max Drawdown (10Y) Largest decline over 10 years	-33.08%	—	—
Current Drawdown Current decline from peak	-2.30%	-0.92%	-1.38%
Average Drawdown Average peak-to-trough decline	-8.46%	-3.80%	-4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	0.87%	+1.24%

Volatility

VPV vs. SPSK - Volatility Comparison

Invesco Pennsylvania Value Municipal Income Trust (VPV) has a higher volatility of 3.91% compared to SP Funds Dow Jones Global Sukuk ETF (SPSK) at 0.91%. This indicates that VPV's price experiences larger fluctuations and is considered to be riskier than SPSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPV	SPSK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	0.91%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	8.79%	2.50%	+6.29%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	3.84%	+6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.40%	5.28%	+5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.04%	5.45%	+6.59%

Dividends

VPV vs. SPSK - Dividend Comparison

VPV's dividend yield for the trailing twelve months is around 7.17%, more than SPSK's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPSK SP Funds Dow Jones Global Sukuk ETF	4.23%	3.63%	3.53%	2.95%	2.22%	2.56%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both VPV and SPSK in my portfolio?

VPV and SPSK have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPV or SPSK?

VPV has higher volatility (3.91%) compared to SPSK (0.91%). In terms of maximum drawdown, VPV dropped -45.21% vs SPSK's -12.83%.

Which has better risk-adjusted returns?

VPV currently has the higher Sharpe Ratio (2.08 vs 0.91), 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.