ABRZX vs. GUG

Last updated Jun 23, 2026

ABRZX (Invesco Balanced-Risk Allocation Fund Class A) and GUG (Guggenheim Active Allocation Fund) are both Tactical Allocation funds. Both are actively managed. Over the past 3 years, ABRZX returned 10.68%/yr vs 13.62%/yr for GUG. At a 0.29 correlation, their price movements are largely independent. ABRZX charges 1.41%/yr vs 3.86%/yr for GUG.

Performance

ABRZX vs. GUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Balanced-Risk Allocation Fund Class A (ABRZX) and Guggenheim Active Allocation Fund (GUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABRZX achieves a 18.14% return, which is significantly higher than GUG's 7.06% return.

ABRZX

• 1D: 0.00%
• 1M: -1.13%
• YTD: 18.14%
• 6M: 18.72%
• 1Y: 24.94%
• 3Y*: 10.68%
• 5Y*: 4.19%
• 10Y*: 4.61%

GUG

• 1D: 0.06%
• 1M: -1.21%
• YTD: 7.06%
• 6M: 7.34%
• 1Y: 11.48%
• 3Y*: 13.62%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABRZX vs. GUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ABRZX Invesco Balanced-Risk Allocation Fund Class A	18.14%	8.20%	3.14%	5.97%	-14.96%	0.07%
GUG Guggenheim Active Allocation Fund	7.06%	13.12%	11.46%	20.68%	-26.55%	-0.20%

Correlation

The correlation between ABRZX and GUG is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 24, 2021	0.29

Return for Risk

ABRZX vs. GUG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABRZX

ABRZX Risk / Return Rank: 89
ABRZX Sharpe Ratio Rank: 89
ABRZX Sortino Ratio Rank: 82
ABRZX Omega Ratio Rank: 84
ABRZX Calmar Ratio Rank: 96
ABRZX Martin Ratio Rank: 94

GUG

GUG Risk / Return Rank: 16
GUG Sharpe Ratio Rank: 14
GUG Sortino Ratio Rank: 16
GUG Omega Ratio Rank: 13
GUG Calmar Ratio Rank: 19
GUG Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABRZX vs. GUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Balanced-Risk Allocation Fund Class A (ABRZX) and Guggenheim Active Allocation Fund (GUG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ABRZX	GUG	Difference
Sharpe ratio: Return per unit of total volatility	2.71	1.00	+1.72
Sortino ratio: Return per unit of downside risk	3.58	1.53	+2.05
Omega ratio: Gain probability vs. loss probability	1.52	1.17	+0.35
Calmar ratio: Return relative to maximum drawdown	5.92	1.48	+4.45
Martin ratio: Return relative to average drawdown	19.45	4.28	+15.17

ABRZX vs. GUG - Sharpe Ratio Comparison

The current ABRZX Sharpe Ratio is 2.71, which is higher than the GUG Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of ABRZX and GUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ABRZX vs. GUG - Drawdown Comparison

The maximum ABRZX drawdown since its inception was -26.62%, smaller than the maximum GUG drawdown of -32.78%. Use the drawdown chart below to compare losses from any high point for ABRZX and GUG.

Drawdown Indicators

	ABRZX	GUG	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-32.78%	+6.16%
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	-7.80%	+3.55%
Max Drawdown (3Y) Largest decline over 3 years	-18.28%	-12.10%	-6.18%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.62%	—	—
Current Drawdown Current decline from peak	-2.53%	-3.09%	+0.56%
Average Drawdown Average peak-to-trough decline	-4.74%	-11.51%	+6.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	2.69%	-1.40%

Volatility

ABRZX vs. GUG - Volatility Comparison

The current volatility for Invesco Balanced-Risk Allocation Fund Class A (ABRZX) is 3.04%, while Guggenheim Active Allocation Fund (GUG) has a volatility of 4.04%. This indicates that ABRZX experiences smaller price fluctuations and is considered to be less risky than GUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABRZX	GUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	4.04%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.18%	8.27%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.27%	11.60%	-2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.25%	17.48%	-5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.92%	17.48%	-6.56%

ABRZX vs. GUG - Expense Ratio Comparison

ABRZX has a 1.41% expense ratio, which is lower than GUG's 3.86% expense ratio.

Dividends

ABRZX vs. GUG - Dividend Comparison

ABRZX's dividend yield for the trailing twelve months is around 2.86%, less than GUG's 9.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABRZX Invesco Balanced-Risk Allocation Fund Class A	2.86%	3.38%	13.28%	2.21%	0.00%	26.02%	1.18%	6.49%	0.00%	6.43%	4.41%	6.91%
GUG Guggenheim Active Allocation Fund	9.08%	9.30%	9.58%	9.72%	9.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ABRZX and GUG in my portfolio?

ABRZX and GUG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABRZX or GUG?

GUG has higher volatility (4.04%) compared to ABRZX (3.04%). In terms of maximum drawdown, ABRZX dropped -26.62% vs GUG's -32.78%.

Which has better risk-adjusted returns?

ABRZX currently has the higher Sharpe Ratio (2.71 vs 1.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.