AFRAX vs. ACEIX

Last updated Jun 5, 2026

AFRAX (Invesco Floating Rate ESG Fund) and ACEIX (Invesco Equity and Income Fund) are both mutual funds - AFRAX is a Bank Loan fund managed by Invesco, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, AFRAX returned 4.48%/yr vs 8.84%/yr for ACEIX. At a 0.16 correlation, their price movements are largely independent. AFRAX charges 1.04%/yr vs 0.78%/yr for ACEIX.

Performance

AFRAX vs. ACEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Floating Rate ESG Fund (AFRAX) and Invesco Equity and Income Fund (ACEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFRAX achieves a 0.42% return, which is significantly lower than ACEIX's 5.74% return. Over the past 10 years, AFRAX has underperformed ACEIX with an annualized return of 4.48%, while ACEIX has yielded a comparatively higher 8.84% annualized return.

AFRAX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 0.42%
• 6M: 0.76%
• 1Y: 3.60%
• 3Y*: 6.02%
• 5Y*: 4.38%
• 10Y*: 4.48%

ACEIX

• 1D: -0.26%
• 1M: 0.35%
• YTD: 5.74%
• 6M: 6.75%
• 1Y: 17.42%
• 3Y*: 13.39%
• 5Y*: 6.92%
• 10Y*: 8.84%

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

AFRAX vs. ACEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFRAX Invesco Floating Rate ESG Fund	0.42%	4.57%	6.80%	10.86%	-2.26%	6.24%	1.53%	7.25%	-0.19%	3.99%
ACEIX Invesco Equity and Income Fund	5.74%	12.85%	11.77%	10.08%	-7.75%	18.02%	9.96%	19.17%	-9.74%	10.86%

Correlation

The correlation between AFRAX and ACEIX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 5, 1998	0.16

The correlation between AFRAX and ACEIX shifts across timeframes, from 0.07 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

AFRAX vs. ACEIX — Risk / Return Rank

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

AFRAX

AFRAX Risk / Return Rank: 43
AFRAX Sharpe Ratio Rank: 21
AFRAX Sortino Ratio Rank: 53
AFRAX Omega Ratio Rank: 64
AFRAX Calmar Ratio Rank: 46
AFRAX Martin Ratio Rank: 33

ACEIX

ACEIX Risk / Return Rank: 61
ACEIX Sharpe Ratio Rank: 55
ACEIX Sortino Ratio Rank: 57
ACEIX Omega Ratio Rank: 54
ACEIX Calmar Ratio Rank: 70
ACEIX Martin Ratio Rank: 70

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.

AFRAX vs. ACEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Floating Rate ESG Fund (AFRAX) and Invesco Equity and Income Fund (ACEIX). 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.

	AFRAX	ACEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.21	-0.90
Sortino ratio: Return per unit of downside risk	3.03	3.16	-0.13
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.04
Calmar ratio: Return relative to maximum drawdown	2.57	3.21	-0.64
Martin ratio: Return relative to average drawdown	7.46	13.31	-5.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFRAX vs. ACEIX - Sharpe Ratio Comparison

The current AFRAX Sharpe Ratio is 1.31, which is lower than the ACEIX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of AFRAX and ACEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AFRAX	ACEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	2.21	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.37	0.63	+0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.20	0.69	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.72	+0.02

Drawdowns

AFRAX vs. ACEIX - Drawdown Comparison

The maximum AFRAX drawdown since its inception was -37.60%, smaller than the maximum ACEIX drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for AFRAX and ACEIX.

Drawdown Indicators

	AFRAX	ACEIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.60%	-40.08%	+2.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.41%	-5.50%	+4.09%
Max Drawdown (3Y) Largest decline over 3 years	-2.62%	-12.40%	+9.78%
Max Drawdown (5Y) Largest decline over 5 years	-6.29%	-16.73%	+10.44%
Max Drawdown (10Y) Largest decline over 10 years	-18.91%	-30.80%	+11.89%
Current Drawdown Current decline from peak	-0.01%	-0.43%	+0.42%
Average Drawdown Average peak-to-trough decline	-4.39%	-4.61%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	1.32%	-0.84%

Volatility

AFRAX vs. ACEIX - Volatility Comparison

The current volatility for Invesco Floating Rate ESG Fund (AFRAX) is 1.06%, while Invesco Equity and Income Fund (ACEIX) has a volatility of 2.01%. This indicates that AFRAX experiences smaller price fluctuations and is considered to be less risky than ACEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFRAX	ACEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	2.01%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	2.01%	6.13%	-4.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	8.04%	-5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.22%	11.11%	-7.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.74%	12.83%	-9.09%

AFRAX vs. ACEIX - Expense Ratio Comparison

AFRAX has a 1.04% expense ratio, which is higher than ACEIX's 0.78% expense ratio.

Dividends

AFRAX vs. ACEIX - Dividend Comparison

AFRAX's dividend yield for the trailing twelve months is around 7.75%, more than ACEIX's 6.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACEIX Invesco Equity and Income Fund	6.52%	6.87%	8.28%	6.91%	6.65%	13.74%	2.94%	5.53%	8.91%	6.73%	3.94%	5.17%
AFRAX Invesco Floating Rate ESG Fund	7.75%	8.06%	8.39%	7.85%	7.03%	3.84%	4.13%	5.52%	4.59%	4.04%	4.01%	5.23%

Frequently Asked Questions

Can I hold both AFRAX and ACEIX in my portfolio?

AFRAX and ACEIX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFRAX or ACEIX?

ACEIX has higher volatility (2.01%) compared to AFRAX (1.06%). In terms of maximum drawdown, AFRAX dropped -37.60% vs ACEIX's -40.08%.

Which has better risk-adjusted returns?

ACEIX currently has the higher Sharpe Ratio (2.21 vs 1.31), 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.