VCV vs UTWO

Comparison between Invesco California Value Municipal Income Trust (VCV, ETF) and F/M US TREASURY 2 YEAR NOTE ETF (UTWO, ETF).

VCV vs UTWO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VCV(ETF)	UTWO(ETF)
Net Assets	$483M	$482M
Expense Ratio	N/A	0.15%
Max Drawdown	63.94%	4.63%
Sharpe Ratio	0.63	-1.07
5Y Beta	0.12	-0.01
5Y Dividends CAGR	8.06%	N/A

Net Assets

Winner

VCV

$483M

UTWO

$482M

Expense Ratio

VCV

N/A

UTWO

0.15%

Max Drawdown

VCV

63.94%

Winner

UTWO

4.63%

Sharpe Ratio

Winner

VCV

0.63

UTWO

-1.07

5Y Beta

VCV

0.12

Winner

UTWO

-0.01

5Y Dividends CAGR

VCV

8.06%

UTWO

N/A

VCV vs UTWO - Historical Returns

Returns include dividend reinvestment.

Period	VCV	UTWO
1 month	+0.71%	+0.51%
3 months	+1.05%	+0.65%
6 months	-3.74%	+0.26%
1 year	+10.45%	+2.42%
5 years(CAGR)	-0.07%	+2.97%
10 years(CAGR)	+2.42%	N/A
Max(CAGR)	+5.11%	+2.97%

Winner

VCV

+0.71%

UTWO

+0.51%

Winner

VCV

+1.05%

UTWO

+0.65%

VCV

-3.74%

Winner

UTWO

+0.26%

Winner

VCV

+10.45%

UTWO

+2.42%

5Y(CAGR)

VCV

-0.07%

Winner

UTWO

+2.97%

10Y(CAGR)

VCV

+2.42%

UTWO

N/A

Max(CAGR)

Winner

VCV

+5.11%

UTWO

+2.97%

VCV vs UTWO - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	VCV	UTWO
2026	-1.32%	+0.93%
2025	+7.58%	+4.82%
2024	+18.51%	+3.83%
2023	+6.44%	+3.41%
2022	-28.13%	-0.81%
2021	+10.23%	N/A
2020	+7.95%	N/A
2019	+16.48%	N/A
2018	-5.26%	N/A
2017	+8.65%	N/A
2016	-3.54%	N/A
2015	+8.92%	N/A
2014	+20.40%	N/A
2013	-12.87%	N/A
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 UTWO Drawdown Comparison

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

The maximum drawdown for UTWO was -2.04%, occurring on Nov 7, 2022. Recovery took 144 trading sessions.

The current VCV drawdown is -3.74%. The current UTWO drawdown is -0.07%.

Rank	VCV	UTWO
#1	-58.93% May 11, 2007 - Aug 25, 2010	-2.04% Aug 15, 2022 - Mar 13, 2023
#2	-38.54% Nov 12, 2021 - Feb 27, 2026	-1.82% May 4, 2023 - Nov 28, 2023
#3	-31.73% Feb 21, 2020 - Dec 18, 2020	-1.08% Sep 24, 2024 - Jan 31, 2025
#4	-21.75% Aug 17, 2012 - Dec 2, 2014	-0.90% Feb 27, 2026 - Aug 4, 2026
#5	-18.38% Sep 8, 2010 - Oct 31, 2011	-0.77% Apr 30, 2025 - Jun 24, 2025
#6	-18.02% Jul 8, 2016 - Jun 20, 2019	-0.75% Apr 5, 2023 - May 3, 2023
#7	-17.84% Mar 17, 2004 - Jul 29, 2005	-0.75% Feb 1, 2024 - May 15, 2024
#8	-10.15% Mar 2, 2012 - May 4, 2012	-0.64% Mar 24, 2023 - Apr 5, 2023
#9	-8.93% Nov 8, 1999 - Apr 6, 2000	-0.58% Mar 17, 2023 - Mar 23, 2023
#10	-8.45% Sep 3, 2019 - Feb 6, 2020	-0.47% Apr 4, 2025 - Apr 28, 2025
#11	-8.29% Feb 27, 2026 - Apr 6, 2026	-0.45% Mar 15, 2023 - Mar 17, 2023
#12	-8.25% Feb 2, 2015 - Oct 30, 2015	-0.39% Jan 12, 2024 - Jan 31, 2024
#13	-8.00% Apr 11, 2000 - Jun 20, 2000	-0.39% Mar 13, 2023 - Mar 15, 2023
#14	-7.94% Sep 15, 2021 - Nov 8, 2021	-0.32% May 15, 2024 - Jun 3, 2024
#15	-7.93% Feb 15, 2001 - Jul 24, 2001	-0.32% Jun 30, 2025 - Aug 1, 2025

Correlation

Correlation between VCV and UTWO is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (2000 - 2026)

VCV vs UTWO dividend yield comparison.

Year	VCV	UTWO
2026	4.92%	2.45%
2025	6.96%	3.63%
2024	5.76%	4.22%
2023	4.16%	4.39%
2022	5.46%	1.22%
2021	4.09%	0.00%
2020	4.07%	0.00%
2019	4.43%	0.00%
2018	5.46%	0.00%
2017	5.10%	0.00%
2016	5.86%	0.00%
2015	5.98%	0.00%
2014	6.16%	0.00%
2013	6.95%	0.00%
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%