PWZ vs OXLC

Comparison between INVESCO CALIFORNIA AMT-FREE MUNICIPAL BOND ETF (PWZ, ETF) and Oxford Lane Capital Corp (OXLC, ETF).

5-Year PerformancePWZ has outperformed OXLC, delivering a return of +0.1% compared to -5.1%

PWZ vs OXLC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PWZ(ETF)	OXLC(ETF)
Net Assets	$1.10B	$1.10B
Expense Ratio	0.28%	N/A
Max Drawdown	24.70%	91.93%
Sharpe Ratio	0.78	-1.43
5Y Beta	0.11	0.69
5Y Dividends CAGR	5.92%	2.32%

Net Assets

PWZ

$1.10B

OXLC

$1.10B

Expense Ratio

PWZ

0.28%

OXLC

N/A

Max Drawdown

Winner

PWZ

24.70%

OXLC

91.93%

Sharpe Ratio

Winner

PWZ

0.78

OXLC

-1.43

5Y Beta

Winner

PWZ

0.11

OXLC

0.69

5Y Dividends CAGR

Winner

PWZ

5.92%

OXLC

2.32%

PWZ vs OXLC - Historical Returns

Returns include dividend reinvestment.

Period	PWZ	OXLC
1 month	+0.65%	+5.20%
3 months	+0.79%	+3.19%
6 months	+1.95%	-18.59%
1 year	+7.35%	-40.28%
5 years(CAGR)	+0.10%	-5.14%
10 years(CAGR)	+1.88%	+4.50%
Max(CAGR)	+3.23%	+3.08%

PWZ

+0.65%

Winner

OXLC

+5.20%

PWZ

+0.79%

Winner

OXLC

+3.19%

Winner

PWZ

+1.95%

OXLC

-18.59%

Winner

PWZ

+7.35%

OXLC

-40.28%

5Y(CAGR)

Winner

PWZ

+0.10%

OXLC

-5.14%

10Y(CAGR)

PWZ

+1.88%

Winner

OXLC

+4.50%

Max(CAGR)

Winner

PWZ

+3.23%

OXLC

+3.08%

PWZ vs OXLC - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	PWZ	OXLC
2026	+1.57%	-22.66%
2025	+1.55%	-24.65%
2024	+2.03%	+23.84%
2023	+6.20%	+14.29%
2022	-11.22%	-27.46%
2021	+1.80%	+57.30%
2020	+4.94%	-15.25%
2019	+8.51%	-2.92%
2018	+0.63%	+10.99%
2017	+6.56%	+11.56%
2016	+0.51%	+35.17%
2015	+3.23%	-20.64%
2014	+15.24%	-0.72%
2013	-4.57%	+26.27%
2012	+8.85%	+30.32%
2011	+12.31%	-25.72%
2010	+0.40%	N/A
2009	+14.61%	N/A
2008	-10.62%	N/A
2007	+0.63%	N/A

PWZ vs OXLC Drawdown Comparison

The maximum drawdown for PWZ was -21.49%, occurring on Dec 16, 2008. Recovery took 414 trading sessions.

The maximum drawdown for OXLC was -74.42%, occurring on Mar 18, 2020. Recovery took 469 trading sessions.

The current PWZ drawdown is -1.21%. The current OXLC drawdown is -43.05%.

Rank	PWZ	OXLC
#1	-21.49% Jan 15, 2008 - Sep 4, 2009	-74.42% Jul 24, 2019 - Jun 3, 2021
#2	-17.56% Jul 19, 2021 - Oct 24, 2022	-57.10% May 16, 2025 - Mar 13, 2026
#3	-13.10% Mar 9, 2020 - Aug 11, 2020	-56.97% Jun 3, 2015 - Nov 16, 2016
#4	-11.55% Sep 29, 2010 - Aug 4, 2011	-36.81% Feb 2, 2022 - Jun 7, 2024
#5	-11.26% May 2, 2013 - Apr 11, 2014	-33.15% May 11, 2011 - Nov 6, 2012
#6	-7.29% Jul 7, 2016 - Aug 30, 2017	-24.62% Aug 9, 2018 - Apr 8, 2019
#7	-4.89% Oct 5, 2009 - Apr 30, 2010	-14.40% Feb 18, 2025 - May 14, 2025
#8	-3.28% Feb 2, 2015 - Nov 18, 2015	-13.23% Feb 19, 2014 - May 28, 2015
#9	-3.02% Dec 6, 2017 - Dec 28, 2018	-12.86% Feb 2, 2011 - May 11, 2011
#10	-2.81% Feb 11, 2021 - Jun 3, 2021	-12.83% Nov 1, 2017 - Feb 8, 2018
#11	-2.24% Aug 11, 2020 - Nov 20, 2020	-12.01% Nov 2, 2021 - Jan 11, 2022
#12	-2.20% Oct 22, 2007 - Jan 8, 2008	-10.64% Apr 5, 2017 - Aug 21, 2017
#13	-2.04% Sep 22, 2011 - Dec 12, 2011	-9.60% May 21, 2013 - Nov 27, 2013
#14	-1.99% Nov 28, 2012 - May 1, 2013	-9.24% Jun 4, 2021 - Oct 11, 2021
#15	-1.81% Aug 28, 2019 - Jan 6, 2020	-8.40% May 18, 2018 - Aug 1, 2018

Correlation

Correlation between PWZ and OXLC is 0.75 which considered as a strong positive correlation - the stocks tend to move together.

0.75

-101

Dividend Comparison (2007 - 2026)

PWZ vs OXLC dividend yield comparison.

Year	PWZ	OXLC
2026	1.27%	13.75%
2025	3.41%	35.86%
2024	3.28%	20.12%
2023	2.85%	18.83%
2022	2.49%	17.75%
2021	2.28%	10.51%
2020	2.34%	22.46%
2019	2.51%	19.85%
2018	2.53%	16.70%
2017	2.48%	17.91%
2016	2.86%	22.84%
2015	3.16%	24.10%
2014	3.80%	16.72%
2013	3.97%	12.69%
2012	3.94%	14.30%
2011	4.29%	13.14%
2010	4.74%	0.00%
2009	4.65%	0.00%
2008	4.88%	0.00%
2007	0.94%	0.00%