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VGM vs SPY

Comparison between Invesco Trust for Investment Grade Municipals (VGM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed VGM, delivering a return of +13.3% compared to -0.7%

VGM vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
VGM
$561M
Winner
SPY
$735B
Expense Ratio
VGM
N/A
SPY
0.09%
Max Drawdown
VGM
56.97%
Winner
SPY
56.47%
Sharpe Ratio
VGM
0.90
Winner
SPY
1.62
5Y Beta
Winner
VGM
0.21
SPY
1.00
P/E Ratio
VGM
N/A
SPY
28.99
Forward P/E
VGM
N/A
SPY
22.37
5Y Dividends CAGR
VGM
4.04%
Winner
SPY
5.43%
5Y EPS CAGR
VGM
N/A
SPY
26.05%
Debt to Equity
VGM
N/A
SPY
32.40%
P/S Ratio
VGM
N/A
SPY
3.74
P/B Ratio
VGM
N/A
SPY
5.61

VGM vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
VGM
-2.20%
Winner
SPY
+1.90%
3M
VGM
-1.45%
Winner
SPY
+8.55%
6M
VGM
+0.59%
Winner
SPY
+8.18%
1Y
VGM
+13.27%
Winner
SPY
+25.79%
5Y(CAGR)
VGM
-0.67%
Winner
SPY
+13.32%
10Y(CAGR)
VGM
+1.98%
Winner
SPY
+15.19%
Max(CAGR)
VGM
+5.22%
Winner
SPY
+8.47%

VGM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearVGMSPY
2026-0.61%+8.26%
2025+10.26%+18.00%
2024+9.33%+25.59%
2023+4.12%+26.72%
2022-24.02%-18.64%
2021+11.38%+30.52%
2020+7.57%+17.28%
2019+15.89%+31.09%
2018-7.78%-5.24%
2017+9.59%+20.78%
2016+0.84%+13.59%
2015+6.74%+1.31%
2014+16.53%+14.56%
2013-16.11%+29.00%
2012+9.31%+14.17%
2011+21.70%+0.85%
2010+3.53%+13.14%
2009+55.64%+22.67%
2008-32.30%-36.25%
2007-6.33%+5.32%
2006+11.93%+13.85%
2005+4.42%+5.32%
2004+1.63%+10.75%
2003+7.57%+24.18%
2002+16.03%-22.42%
2001+8.58%-10.13%
2000+10.93%-8.84%
1999-6.34%+8.61%

VGM vs SPY Drawdown Comparison

The maximum drawdown for VGM was -49.32%, occurring on Dec 16, 2008. Recovery took 581 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current VGM drawdown is -6.87%. The current SPY drawdown is -2.90%.

RankVGMSPY
#1-49.32%
May 16, 2007 - Sep 3, 2009		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-36.59%
Sep 22, 2021 - Oct 25, 2023		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-24.75%
Feb 11, 2020 - Nov 30, 2020		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-23.11%
Jan 25, 2013 - Feb 2, 2015		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-17.26%
Nov 5, 2010 - Sep 7, 2011		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-15.75%
Mar 11, 2004 - Aug 25, 2005		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-15.16%
Jul 8, 2016 - Jun 28, 2019		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-12.53%
Nov 5, 1999 - Aug 21, 2000		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-10.76%
Oct 6, 2009 - Mar 8, 2010		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-10.20%
Jun 16, 2003 - Jan 14, 2004		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-9.87%
Sep 30, 2002 - Apr 10, 2003		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-7.48%
Feb 2, 2015 - Nov 23, 2015		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-7.01%
Nov 13, 2001 - Jan 18, 2002		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-6.40%
Sep 27, 2012 - Jan 25, 2013		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-6.33%
Aug 21, 2000 - Dec 28, 2000		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between VGM and SPY is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81
-101

Dividend Comparison (1999 - 2026)

VGM vs SPY dividend yield comparison.

YearVGMSPY
20263.22%0.24%
20257.48%1.07%
20246.35%1.21%
20234.42%1.40%
20225.67%1.65%
20214.65%1.20%
20204.65%1.52%
20194.82%1.75%
20185.97%2.04%
20175.79%1.80%
20166.50%2.03%
20156.62%2.06%
20146.64%1.87%
20137.68%1.81%
20126.91%2.18%
20117.05%2.05%
20107.91%1.80%
20096.61%1.95%
20089.50%3.02%
20075.80%1.85%
20065.33%1.73%
20057.95%1.73%
20046.67%1.82%
20037.36%1.47%
20028.71%1.70%
20017.55%1.25%
20002.67%1.15%
19990.00%0.24%

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