OIA vs VYM
Invesco Municipal Income Opportunities Trust vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | OIA | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 2.41% | 0.04% | |
| AUM | $1,753.44 | $79.0B | |
| Dividend Yield | 5.55% | 2.86% | |
| Holdings | 239 | 568 | |
| YTD Return | +4.06% | +16.53% | |
| 1Y Return | +13.64% | +25.03% | |
| 3Y Return (annualized) | +4.81% | +18.54% | |
| 5Y Return (annualized) | -0.69% | +12.25% | |
| Volatility (annualized) | 15.0% | 14.6% | |
| Max Drawdown | -58.7% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 19, 1988 | Nov 10, 2006 |
OIA vs VYM Performance
Invesco Municipal Income Opportunities Trust (OIA) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year OIA returned +13.64% while VYM returned +25.03%. Year to date, OIA is up 4.06% versus a gain of 16.53% for VYM.
Over three years, OIA compounded at +4.81% per year against +18.54% for VYM; over five years the annualized figures are -0.69% and +12.25% respectively. Across the full 20-year window we track, VYM has the edge at +7.10% annualized vs -0.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OIA has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.6% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -58.7% for OIA and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OIA charges 2.41% per year while VYM charges 0.04%. On a $10,000 position that is $241 vs $4 annually, a gap of $237 per year that compounds over a long holding period. On income, OIA currently yields 5.55% against 2.86% for VYM.
Holdings Overlap
OIA and VYM share 0 holdings out of 634 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OIA or VYM?
OIA has an expense ratio of 2.41% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $237 per year of difference.
Which performed better, OIA or VYM?
Over the past year OIA returned +13.64% vs +25.03% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), OIA annualized -0.16% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, OIA or VYM?
OIA has been the more volatile fund at 15.0% annualized versus 14.6% for VYM. Worst drawdown: OIA -58.7% vs VYM -58.8%.
Should I hold both OIA and VYM?
OIA and VYM have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OIA and VYM?
OIA and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 634 unique securities.
Which pays a higher dividend, OIA or VYM?
OIA yields 5.55% while VYM yields 2.86%, so OIA currently pays the higher dividend yield.
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