AFRAX vs. VADDX

Last updated Aug 1, 2026

AFRAX (Invesco Floating Rate ESG Fund) and VADDX (Invesco Equally-Weighted S&P 500 Fund) are both mutual funds - AFRAX is a Bank Loan fund managed by Invesco, while VADDX is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Over the past 10 years, AFRAX returned 4.34%/yr vs 11.61%/yr for VADDX. Their 0.15 correlation means their historical movements had little consistent relationship. AFRAX charges 1.04%/yr vs 0.27%/yr for VADDX.

Performance

AFRAX vs. VADDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Floating Rate ESG Fund (AFRAX) and Invesco Equally-Weighted S&P 500 Fund (VADDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFRAX achieves a 0.73% return, which is significantly lower than VADDX's 13.28% return. Over the past 10 years, AFRAX has underperformed VADDX with an annualized return of 4.34%, while VADDX has yielded a comparatively higher 11.61% annualized return.

AFRAX

• 1D: 0.16%
• 1M: 0.00%
• 6M: 1.06%
• YTD: 0.73%
• 1Y: 2.11%
• 3Y*: 5.20%
• 5Y*: 4.41%
• 10Y*: 4.34%
• ALL TIME*: 2.45%

VADDX

• 1D: -0.19%
• 1M: 0.16%
• 6M: 9.58%
• YTD: 13.28%
• 1Y: 20.46%
• 3Y*: 13.37%
• 5Y*: 8.79%
• 10Y*: 11.61%
• ALL TIME*: 9.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AFRAX Invesco Floating Rate ESG Fund	$0.00	$0.00	$0.00
VADDX Invesco Equally-Weighted S&P 500 Fund	$0.00	$0.00	$0.00

AFRAX vs. VADDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFRAX Invesco Floating Rate ESG Fund	0.73%	4.57%	6.80%	10.86%	-2.26%	6.24%	1.53%	7.25%	-0.19%	3.99%
VADDX Invesco Equally-Weighted S&P 500 Fund	13.28%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%

Correlation

The correlation between AFRAX and VADDX is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (5Y) Shows whether the relationship held over a longer period.	0.23
Correlation (10Y) Provides a long-term view across more market conditions.	0.24
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.15

The correlation between AFRAX and VADDX shifts across timeframes, from 0.05 (1 year) to 0.24 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

AFRAX vs. VADDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AFRAX

AFRAX Risk / Return Rank: 61
AFRAX Sharpe Ratio Rank: 36
AFRAX Sortino Ratio Rank: 75
AFRAX Omega Ratio Rank: 80
AFRAX Calmar Ratio Rank: 68
AFRAX Martin Ratio Rank: 45

VADDX

VADDX Risk / Return Rank: 69
VADDX Sharpe Ratio Rank: 67
VADDX Sortino Ratio Rank: 68
VADDX Omega Ratio Rank: 63
VADDX Calmar Ratio Rank: 72
VADDX Martin Ratio Rank: 75

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AFRAX vs. VADDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Floating Rate ESG Fund (AFRAX) and Invesco Equally-Weighted S&P 500 Fund (VADDX). 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.

	AFRAX	VADDX	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.55	-0.44
Sortino ratio: Return per unit of downside risk	2.55	2.26	+0.28
Omega ratio: Gain probability vs. loss probability	1.36	1.27	+0.09
Calmar ratio: Return relative to maximum drawdown	2.21	2.31	-0.10
Martin ratio: Return relative to average drawdown	6.36	8.94	-2.58

AFRAX vs. VADDX - Sharpe Ratio Comparison

The current AFRAX Sharpe Ratio is 1.10, which is comparable to the VADDX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of AFRAX and VADDX, 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

AFRAX vs. VADDX - Drawdown Comparison

The maximum AFRAX drawdown since its inception was -37.60%, smaller than the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for AFRAX and VADDX.

Drawdown Indicators

	AFRAX	VADDX	Difference
Max Drawdown Largest peak-to-trough decline	-37.60%	-60.12%	+22.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.41%	-7.88%	+6.47%
Max Drawdown (3Y) Largest decline over 3 years	-2.62%	-17.86%	+15.24%
Max Drawdown (5Y) Largest decline over 5 years	-6.29%	-21.58%	+15.29%
Max Drawdown (10Y) Largest decline over 10 years	-18.91%	-39.39%	+20.48%
Current Drawdown Current decline from peak	-0.16%	-1.06%	+0.90%
Average Drawdown Average peak-to-trough decline	-4.37%	-6.97%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	2.06%	-1.57%

Volatility

AFRAX vs. VADDX - Volatility Comparison

The current volatility for Invesco Floating Rate ESG Fund (AFRAX) is 0.40%, while Invesco Equally-Weighted S&P 500 Fund (VADDX) has a volatility of 2.88%. This indicates that AFRAX experiences smaller price fluctuations and is considered to be less risky than VADDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFRAX	VADDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	2.88%	-2.48%
Volatility (6M) Calculated over the trailing 6-month period	2.05%	8.56%	-6.51%
Volatility (1Y) Calculated over the trailing 1-year period	2.83%	11.79%	-8.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.24%	16.25%	-13.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	18.46%	-14.73%

AFRAX vs. VADDX - Expense Ratio Comparison

AFRAX has a 1.04% expense ratio, which is higher than VADDX's 0.27% expense ratio.

Dividends

AFRAX vs. VADDX - Dividend Comparison

AFRAX's dividend yield for the trailing twelve months is around 7.04%, less than VADDX's 8.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFRAX Invesco Floating Rate ESG Fund	7.04%	8.06%	8.39%	7.85%	7.03%	3.84%	4.13%	5.52%	4.59%	4.04%	4.01%	5.23%
VADDX Invesco Equally-Weighted S&P 500 Fund	8.91%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Frequently Asked Questions

Can I hold both AFRAX and VADDX in my portfolio?

AFRAX and VADDX have a correlation of 0.05, 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 VADDX?

VADDX has higher volatility (2.88%) compared to AFRAX (0.40%). In terms of maximum drawdown, AFRAX dropped -37.60% vs VADDX's -60.12%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.55 vs 1.10), 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.