AFOS vs OIA

Comparison between ARS FOCUSED OPPORTUNITIES STRATEGY ETF (AFOS, ETF) and Invesco Municipal Income Opportunities Trust (OIA, ETF).

AFOS vs OIA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AFOS(ETF)	OIA(ETF)
Net Assets	$301M	$301M
Expense Ratio	0.45%	N/A
Max Drawdown	11.52%	58.71%
Sharpe Ratio	2.29	1.21
5Y Beta	1.46	0.17
P/E Ratio	44.80	N/A
Forward P/E	19.04	N/A
PEG Ratio	0.19	N/A
5Y Dividends CAGR	N/A	-1.63%
5Y EPS CAGR	35.53%	N/A
Debt to Equity	78.65%	N/A
P/S Ratio	3.79	N/A
P/B Ratio	7.06	N/A

Net Assets

AFOS

$301M

Winner

OIA

$301M

Expense Ratio

AFOS

0.45%

OIA

N/A

Max Drawdown

Winner

AFOS

11.52%

OIA

58.71%

Sharpe Ratio

Winner

AFOS

2.29

OIA

1.21

5Y Beta

AFOS

1.46

Winner

OIA

0.17

P/E Ratio

AFOS

44.80

OIA

N/A

Forward P/E

AFOS

19.04

OIA

N/A

PEG Ratio

AFOS

0.19

OIA

N/A

5Y Dividends CAGR

AFOS

N/A

OIA

-1.63%

5Y EPS CAGR

AFOS

35.53%

OIA

N/A

Debt to Equity

AFOS

78.65%

OIA

N/A

P/S Ratio

AFOS

3.79

OIA

N/A

P/B Ratio

AFOS

7.06

OIA

N/A

AFOS vs OIA - Historical Returns

Returns include dividend reinvestment.

Period	AFOS	OIA
1 month	-4.97%	+2.95%
3 months	+11.07%	+3.77%
6 months	+19.31%	+4.22%
1 year	+69.11%	+18.04%
5 years(CAGR)	N/A	+0.31%
10 years(CAGR)	N/A	+2.73%
Max(CAGR)	+70.68%	+4.93%

AFOS

-4.97%

Winner

OIA

+2.95%

Winner

AFOS

+11.07%

OIA

+3.77%

Winner

AFOS

+19.31%

OIA

+4.22%

Winner

AFOS

+69.11%

OIA

+18.04%

5Y(CAGR)

AFOS

N/A

OIA

+0.31%

10Y(CAGR)

AFOS

N/A

OIA

+2.73%

Max(CAGR)

Winner

AFOS

+70.68%

OIA

+4.93%

AFOS vs OIA - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	AFOS	OIA
2026	+26.73%	+7.50%
2025	+36.15%	+6.44%
2024	N/A	-4.20%
2023	N/A	+7.17%
2022	N/A	-17.71%
2021	N/A	+6.09%
2020	N/A	+4.68%
2019	N/A	+17.64%
2018	N/A	-8.99%
2017	N/A	+17.32%
2016	N/A	+3.43%
2015	N/A	+10.72%
2014	N/A	+18.25%
2013	N/A	-12.44%
2012	N/A	+16.13%
2011	N/A	+16.63%
2010	N/A	+6.34%
2009	N/A	+37.16%
2008	N/A	-32.05%
2007	N/A	-21.12%
2006	N/A	+20.62%
2005	N/A	+21.06%
2004	N/A	+12.12%
2003	N/A	+3.36%
2002	N/A	-0.03%
2001	N/A	-0.47%
2000	N/A	+8.10%
1999	N/A	-5.35%

AFOS vs OIA Drawdown Comparison

The maximum drawdown for AFOS was -11.52%, occurring on Mar 30, 2026. Recovery took 32 trading sessions.

The maximum drawdown for OIA was -55.23%, occurring on Oct 10, 2008. Recovery took 1283 trading sessions.

The current AFOS drawdown is -4.97%. The current OIA drawdown is -4.08%.

Rank	AFOS	OIA
#1	-11.52% Feb 25, 2026 - Apr 13, 2026	-55.23% May 11, 2007 - Jun 13, 2012
#2	-7.26% Jun 22, 2026 - Jul 20, 2026	-34.85% Aug 30, 2021 - Oct 27, 2023
#3	-6.99% Jun 2, 2026 - Jun 15, 2026	-31.78% Feb 24, 2020 - Dec 31, 2020
#4	-6.05% Nov 10, 2025 - Nov 28, 2025	-22.39% Nov 26, 2012 - Jan 12, 2015
#5	-5.74% Jan 28, 2026 - Feb 25, 2026	-19.90% Sep 6, 2000 - Feb 12, 2001
#6	-5.32% May 11, 2026 - May 26, 2026	-14.09% Sep 30, 2016 - May 31, 2017
#7	-4.71% Dec 11, 2025 - Dec 22, 2025	-13.06% Sep 10, 2018 - Mar 21, 2019
#8	-3.60% Oct 8, 2025 - Oct 23, 2025	-11.94% Oct 7, 2002 - Jun 11, 2003
#9	-2.77% Sep 22, 2025 - Sep 30, 2025	-11.02% Nov 5, 1999 - Jul 19, 2000
#10	-2.31% Nov 3, 2025 - Nov 10, 2025	-11.02% Mar 9, 2004 - Oct 6, 2004
#11	-2.23% Apr 24, 2026 - Apr 30, 2026	-10.80% Aug 31, 2001 - Sep 3, 2002
#12	-2.23% Jan 6, 2026 - Jan 12, 2026	-9.53% Nov 7, 2005 - Jan 5, 2006
#13	-1.95% Aug 12, 2025 - Aug 26, 2025	-9.10% Jun 16, 2003 - Mar 8, 2004
#14	-1.78% May 6, 2026 - May 11, 2026	-8.65% Dec 27, 2017 - Aug 29, 2018
#15	-1.61% Dec 26, 2025 - Jan 2, 2026	-7.54% Apr 12, 2019 - Aug 6, 2019

Correlation

Correlation between AFOS and OIA is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.

0.92

-101

Dividend Comparison (2000 - 2026)

AFOS vs OIA dividend yield comparison.

Year	AFOS	OIA
2026	0.00%	3.27%
2025	0.30%	5.81%
2024	0.00%	5.87%
2023	0.00%	5.09%
2022	0.00%	5.68%
2021	0.00%	4.69%
2020	0.00%	4.81%
2019	0.00%	4.88%
2018	0.00%	5.84%
2017	0.00%	5.16%
2016	0.00%	5.58%
2015	0.00%	5.40%
2014	0.00%	5.85%
2013	0.00%	6.77%
2012	0.00%	5.74%
2011	0.00%	6.31%
2010	0.00%	6.80%
2009	0.00%	6.98%
2008	0.00%	10.17%
2007	0.00%	7.22%
2006	0.00%	5.61%
2005	0.00%	6.07%
2004	0.00%	6.46%
2003	0.00%	7.31%
2002	0.00%	7.50%
2001	0.00%	7.31%
2000	0.00%	3.07%