VMO vs SPY
Comparison between Invesco Municipal Opportunity Trust (VMO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed VMO, delivering a return of +13.3% compared to -1.1%
VMO vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
VMO
$673M
Winner
SPY
$735B
Expense Ratio
VMO
N/A
SPY
0.09%
Max Drawdown
VMO
59.97%
Winner
SPY
56.47%
Sharpe Ratio
VMO
1.17
Winner
SPY
1.62
5Y Beta
Winner
VMO
0.19
SPY
1.00
P/E Ratio
VMO
N/A
SPY
28.99
Forward P/E
VMO
N/A
SPY
22.37
5Y Dividends CAGR
VMO
3.83%
Winner
SPY
5.43%
5Y EPS CAGR
VMO
N/A
SPY
26.05%
Debt to Equity
VMO
N/A
SPY
32.40%
P/S Ratio
VMO
N/A
SPY
3.74
P/B Ratio
VMO
N/A
SPY
5.61
VMO vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
VMO
+0.23%
Winner
SPY
+1.90%
3M
VMO
-0.53%
Winner
SPY
+8.55%
6M
VMO
+4.46%
Winner
SPY
+8.18%
1Y
VMO
+14.68%
Winner
SPY
+25.79%
5Y(CAGR)
VMO
-1.09%
Winner
SPY
+13.32%
10Y(CAGR)
VMO
+1.75%
Winner
SPY
+15.19%
Max(CAGR)
VMO
+5.25%
Winner
SPY
+8.47%
VMO vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | VMO | SPY |
|---|---|---|
| 2026 | +4.00% | +8.26% |
| 2025 | +5.81% | +18.00% |
| 2024 | +7.97% | +25.59% |
| 2023 | +2.47% | +26.72% |
| 2022 | -24.59% | -18.64% |
| 2021 | +12.34% | +30.52% |
| 2020 | +8.49% | +17.28% |
| 2019 | +13.99% | +31.09% |
| 2018 | -4.38% | -5.24% |
| 2017 | +2.74% | +20.78% |
| 2016 | +2.27% | +13.59% |
| 2015 | +9.28% | +1.31% |
| 2014 | +16.12% | +14.56% |
| 2013 | -15.83% | +29.00% |
| 2012 | +7.92% | +14.17% |
| 2011 | +21.08% | +0.85% |
| 2010 | +4.57% | +13.14% |
| 2009 | +45.00% | +22.67% |
| 2008 | -28.05% | -36.25% |
| 2007 | -3.14% | +5.32% |
| 2006 | +12.22% | +13.85% |
| 2005 | +7.50% | +5.32% |
| 2004 | -5.69% | +10.75% |
| 2003 | +13.75% | +24.18% |
| 2002 | +13.87% | -22.42% |
| 2001 | +13.09% | -10.13% |
| 2000 | +13.93% | -8.84% |
| 1999 | -4.09% | +8.61% |
VMO vs SPY Drawdown Comparison
The maximum drawdown for VMO was -50.02%, occurring on Dec 16, 2008. Recovery took 599 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current VMO drawdown is -8.37%. The current SPY drawdown is -2.90%.
| Rank | VMO | SPY |
|---|---|---|
| #1 | -50.02% Apr 23, 2007 - Sep 4, 2009 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -37.68% Jan 3, 2022 - Oct 25, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -26.16% Oct 8, 2012 - Dec 10, 2015 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -25.48% Feb 20, 2020 - Aug 17, 2020 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -19.84% Dec 3, 2010 - Nov 15, 2011 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -19.20% Mar 8, 2004 - Mar 24, 2006 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -17.50% Jul 8, 2016 - Jul 31, 2019 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -11.93% Nov 5, 2010 - Dec 3, 2010 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -11.09% Jun 13, 2003 - Jan 6, 2004 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -10.05% Oct 6, 2009 - Mar 5, 2010 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.94% Feb 1, 2012 - Jul 5, 2012 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -9.79% Nov 5, 1999 - Jul 26, 2000 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -9.37% Oct 3, 2002 - Feb 21, 2003 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.51% Apr 28, 2006 - Dec 4, 2006 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -7.13% Feb 15, 2002 - Jun 4, 2002 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between VMO 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)
VMO vs SPY dividend yield comparison.
| Year | VMO | SPY |
|---|---|---|
| 2026 | 3.23% | 0.24% |
| 2025 | 7.84% | 1.07% |
| 2024 | 6.44% | 1.21% |
| 2023 | 4.47% | 1.40% |
| 2022 | 5.69% | 1.65% |
| 2021 | 4.64% | 1.20% |
| 2020 | 4.66% | 1.52% |
| 2019 | 4.94% | 1.75% |
| 2018 | 5.95% | 2.04% |
| 2017 | 5.98% | 1.80% |
| 2016 | 6.73% | 2.03% |
| 2015 | 6.33% | 2.06% |
| 2014 | 6.12% | 1.87% |
| 2013 | 7.43% | 1.81% |
| 2012 | 7.03% | 2.18% |
| 2011 | 7.13% | 2.05% |
| 2010 | 7.91% | 1.80% |
| 2009 | 6.78% | 1.95% |
| 2008 | 8.60% | 3.02% |
| 2007 | 5.55% | 1.85% |
| 2006 | 5.17% | 1.73% |
| 2005 | 8.69% | 1.73% |
| 2004 | 7.20% | 1.82% |
| 2003 | 8.66% | 1.47% |
| 2002 | 9.81% | 1.70% |
| 2001 | 7.59% | 1.25% |
| 2000 | 2.56% | 1.15% |
| 1999 | 0.00% | 0.24% |
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