VPV vs. VLT
VPV (Invesco Pennsylvania Value Municipal Income Trust) and VLT (Invesco High Income Trust II) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, VPV returned 3.00%/yr vs 6.52%/yr for VLT. At a 0.14 correlation, their price movements are largely independent.
Performance
VPV vs. VLT - Performance Comparison
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Returns By Period
In the year-to-date period, VPV achieves a 10.77% return, which is significantly higher than VLT's -2.57% return. Over the past 10 years, VPV has underperformed VLT with an annualized return of 3.00%, while VLT has yielded a comparatively higher 6.52% annualized 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%
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 vs. VLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between VPV and VLT 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 VPV and VLT shifts across timeframes, from 0.14 (all time) to 0.35 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
VPV:
$199.63M
VLT:
$67.26M
VPV:
$1.01
VLT:
$1.84
VPV:
11.03
VLT:
5.60
VPV:
0.12
VLT:
0.02
VPV:
6.10
VLT:
4.06
VPV:
1.01
VLT:
0.94
VPV:
$32.74M
VLT:
$16.55M
VPV:
$24.84M
VLT:
$13.85M
VPV:
$22.21M
VLT:
$16.82M
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Return for Risk
VPV vs. VLT — Risk / Return Rank
VPV
VLT
VPV vs. VLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Pennsylvania Value Municipal Income Trust (VPV) and Invesco High Income Trust II (VLT). 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 | VLT | 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 | 1.40 | 1.17 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 0.66 | +2.33 |
| Martin ratioReturn relative to average drawdown | 10.20 | 2.27 | +7.93 |
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Drawdowns
VPV vs. VLT - Drawdown Comparison
The maximum VPV drawdown since its inception was -45.21%, smaller than the maximum VLT drawdown of -75.78%. Use the drawdown chart below to compare losses from any high point for VPV and VLT.
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Drawdown Indicators
| VPV | VLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -75.78% | +30.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -10.55% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -12.46% | -13.41% | +0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -33.08% | -30.46% | -2.62% |
Max Drawdown (10Y)Largest decline over 10 years | -33.08% | -42.02% | +8.94% |
Current DrawdownCurrent decline from peak | -2.30% | -3.78% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -8.46% | -16.93% | +8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 3.06% | -0.95% |
Volatility
VPV vs. VLT - Volatility Comparison
Invesco Pennsylvania Value Municipal Income Trust (VPV) has a higher volatility of 3.91% compared to Invesco High Income Trust II (VLT) at 1.99%. This indicates that VPV's price experiences larger fluctuations and is considered to be riskier than VLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPV | VLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 1.99% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 6.72% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.33% | 8.14% | +2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.40% | 11.67% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.04% | 13.93% | -1.89% |
Dividends
VPV vs. VLT - Dividend Comparison
VPV's dividend yield for the trailing twelve months is around 7.17%, less than VLT's 10.87% 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
VPV vs. VLT - Financials Comparison
This section allows you to compare key financial metrics between Invesco Pennsylvania Value Municipal Income Trust and Invesco High Income Trust II. 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
VPV and VLT 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, VPV dropped -45.21% vs VLT's -75.78%.
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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