VCV vs KIO

Comparison between Invesco California Value Municipal Income Trust (VCV, ETF) and KKR Income Opportunities Fund (KIO, ETF).

5-Year PerformanceKIO has outperformed VCV, delivering a return of +3.3% compared to +0.6%

VCV vs KIO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VCV(ETF)	KIO(ETF)
Net Assets	$495M	$493M
Max Drawdown	63.94%	54.47%
Sharpe Ratio	0.75	0.14
5Y Beta	0.12	0.43
5Y Dividends CAGR	6.81%	2.74%

Net Assets

Winner

VCV

$495M

KIO

$493M

Max Drawdown

VCV

63.94%

Winner

KIO

54.47%

Sharpe Ratio

Winner

VCV

0.75

KIO

0.14

5Y Beta

Winner

VCV

0.12

KIO

0.43

5Y Dividends CAGR

Winner

VCV

6.81%

KIO

2.74%

VCV vs KIO - Historical Returns

Returns include dividend reinvestment.

Period	VCV	KIO
1 month	+1.46%	+0.90%
3 months	-1.77%	+2.53%
6 months	+2.84%	+2.62%
1 year	+11.72%	+4.58%
5 years(CAGR)	+0.58%	+3.30%
10 years(CAGR)	+2.46%	+7.63%
Max(CAGR)	+5.14%	+5.83%

Winner

VCV

+1.46%

KIO

+0.90%

VCV

-1.77%

Winner

KIO

+2.53%

Winner

VCV

+2.84%

KIO

+2.62%

Winner

VCV

+11.72%

KIO

+4.58%

5Y(CAGR)

VCV

+0.58%

Winner

KIO

+3.30%

10Y(CAGR)

VCV

+2.46%

Winner

KIO

+7.63%

Max(CAGR)

VCV

+5.14%

Winner

KIO

+5.83%

VCV vs KIO - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	VCV	KIO
2026	-1.62%	+2.61%
2025	+7.58%	-2.83%
2024	+18.51%	+17.41%
2023	+6.44%	+29.09%
2022	-28.13%	-27.27%
2021	+10.23%	+27.26%
2020	+7.95%	+1.34%
2019	+16.48%	+20.28%
2018	-5.26%	-2.51%
2017	+8.65%	+9.90%
2016	-3.54%	+29.34%
2015	+8.92%	-5.77%
2014	+20.40%	-1.42%
2013	-12.87%	-7.01%
2012	+12.78%	N/A
2011	+23.63%	N/A
2010	+1.94%	N/A
2009	+55.43%	N/A
2008	-45.40%	N/A
2007	+1.50%	N/A
2006	+11.44%	N/A
2005	+7.67%	N/A
2004	-6.37%	N/A
2003	+14.77%	N/A
2002	+10.83%	N/A
2001	+8.40%	N/A
2000	+10.38%	N/A
1999	-0.87%	N/A

VCV vs KIO Drawdown Comparison

The maximum drawdown for VCV was -58.93%, occurring on Dec 15, 2008. Recovery took 829 trading sessions.

The maximum drawdown for KIO was -43.82%, occurring on Mar 18, 2020. Recovery took 234 trading sessions.

The current VCV drawdown is -4.03%. The current KIO drawdown is -8.70%.

Rank	VCV	KIO
#1	-58.93% May 11, 2007 - Aug 25, 2010	-43.82% Feb 20, 2020 - Jan 25, 2021
#2	-38.54% Nov 12, 2021 - Feb 27, 2026	-31.84% Dec 31, 2021 - Feb 29, 2024
#3	-31.73% Feb 21, 2020 - Dec 18, 2020	-22.85% Oct 9, 2024 - Apr 7, 2025
#4	-21.75% Aug 17, 2012 - Dec 2, 2014	-22.05% Jun 30, 2014 - Jun 17, 2016
#5	-18.38% Sep 8, 2010 - Oct 31, 2011	-18.47% Aug 27, 2018 - Apr 11, 2019
#6	-18.02% Jul 8, 2016 - Jun 20, 2019	-13.68% Oct 12, 2017 - Aug 3, 2018
#7	-17.84% Mar 17, 2004 - Jul 29, 2005	-12.61% Jul 26, 2013 - Jun 30, 2014
#8	-10.15% Mar 2, 2012 - May 4, 2012	-6.92% Oct 25, 2016 - Dec 16, 2016
#9	-8.93% Nov 8, 1999 - Apr 6, 2000	-6.55% Nov 11, 2021 - Dec 31, 2021
#10	-8.45% Sep 3, 2019 - Feb 6, 2020	-5.66% May 6, 2019 - Jun 21, 2019
#11	-8.29% Feb 27, 2026 - Apr 6, 2026	-3.69% Jun 23, 2016 - Jul 15, 2016
#12	-8.25% Feb 2, 2015 - Oct 30, 2015	-3.48% Mar 28, 2024 - May 3, 2024
#13	-8.00% Apr 11, 2000 - Jun 20, 2000	-3.46% Aug 2, 2019 - Sep 24, 2019
#14	-7.94% Sep 15, 2021 - Nov 8, 2021	-3.41% Jul 31, 2024 - Aug 19, 2024
#15	-7.93% Feb 15, 2001 - Jul 24, 2001	-3.11% Sep 10, 2021 - Oct 22, 2021

Correlation

Correlation between VCV and KIO is 0.79 which considered as a strong positive correlation - the stocks tend to move together.

0.79

-101

Dividend Comparison (2000 - 2026)

VCV vs KIO dividend yield comparison.

Year	VCV	KIO
2026	3.03%	5.40%
2025	6.96%	12.58%
2024	5.76%	10.90%
2023	4.16%	11.34%
2022	5.46%	11.44%
2021	4.09%	7.45%
2020	4.07%	10.12%
2019	4.43%	9.51%
2018	5.46%	10.53%
2017	5.10%	9.66%
2016	5.86%	9.92%
2015	5.98%	10.81%
2014	6.16%	10.19%
2013	6.95%	3.00%
2012	6.42%	0.00%
2011	7.09%	0.00%
2010	8.09%	0.00%
2009	7.46%	0.00%
2008	11.06%	0.00%
2007	5.32%	0.00%
2006	5.55%	0.00%
2005	7.45%	0.00%
2004	7.40%	0.00%
2003	8.70%	0.00%
2002	6.74%	0.00%
2001	5.92%	0.00%
2000	2.37%	0.00%