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AGOVX vs. RPIDX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AGOVX vs. RPIDX

Last updated Jun 26, 2026

AGOVX (Invesco Income Fund) and RPIDX (T. Rowe Price Dynamic Credit Fund) are both Nontraditional Bonds funds. Over the past 5 years, AGOVX returned 1.66%/yr vs 4.60%/yr for RPIDX. At a 0.11 correlation, their price movements are largely independent. AGOVX charges 0.96%/yr vs 0.63%/yr for RPIDX.

Performance

AGOVX vs. RPIDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Income Fund (AGOVX) and T. Rowe Price Dynamic Credit Fund (RPIDX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AGOVX achieves a 0.77% return, which is significantly lower than RPIDX's 1.03% return.

AGOVX

1D
0.29%
1M
0.69%
YTD
0.77%
6M
1.04%
1Y
4.10%
3Y*
5.55%
5Y*
1.66%
10Y*
1.10%

RPIDX

1D
0.00%
1M
0.41%
YTD
1.03%
6M
2.44%
1Y
7.58%
3Y*
8.47%
5Y*
4.60%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AGOVX vs. RPIDX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
AGOVX
Invesco Income Fund		0.77%6.61%7.01%4.57%-10.05%3.90%-6.66%9.12%
RPIDX
T. Rowe Price Dynamic Credit Fund		1.03%9.74%9.92%4.72%-0.76%6.21%2.71%6.87%

Correlation

The correlation between AGOVX and RPIDX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Jan 14, 2019

0.11

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Income Fund

T. Rowe Price Dynamic Credit Fund

Often compared with AGOVX:
AGOVX vs. QQQMAGOVX vs. APFPXAGOVX vs. ACEIXAGOVX vs. PMOTXAGOVX vs. WAVLXAGOVX vs. DFLEXAGOVX vs. DCAIX
Often compared with RPIDX:
RPIDX vs. TMSRXRPIDX vs. APFPXRPIDX vs. PDIRPIDX vs. JBBBRPIDX vs. QQQRPIDX vs. SCHDRPIDX vs. FNDX

Return for Risk

AGOVX vs. RPIDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AGOVX
AGOVX Risk / Return Rank: 3232
Overall Rank
AGOVX Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
AGOVX Sortino Ratio Rank: 3939
Sortino Ratio Rank
AGOVX Omega Ratio Rank: 4242
Omega Ratio Rank
AGOVX Calmar Ratio Rank: 2525
Calmar Ratio Rank
AGOVX Martin Ratio Rank: 2323
Martin Ratio Rank
RPIDX
RPIDX Risk / Return Rank: 8989
Overall Rank
RPIDX Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
RPIDX Sortino Ratio Rank: 9494
Sortino Ratio Rank
RPIDX Omega Ratio Rank: 8888
Omega Ratio Rank
RPIDX Calmar Ratio Rank: 9696
Calmar Ratio Rank
RPIDX Martin Ratio Rank: 8787
Martin Ratio Rank
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.

AGOVX vs. RPIDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Income Fund (AGOVX) and T. Rowe Price Dynamic Credit Fund (RPIDX). 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.

AGOVXRPIDXDifference
Sharpe ratioReturn per unit of total volatility
1.35
2.21

-0.86

Sortino ratioReturn per unit of downside risk
2.13
4.39

-2.25

Omega ratioGain probability vs. loss probability

1.29

1.54

-0.25

Calmar ratioReturn relative to maximum drawdown

1.55

5.67

-4.12

Martin ratioReturn relative to average drawdown

4.58

14.12

-9.53

AGOVX vs. RPIDX - Sharpe Ratio Comparison

The current AGOVX Sharpe Ratio is 1.35, which is lower than the RPIDX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of AGOVX and RPIDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AGOVX vs. RPIDX - Drawdown Comparison

The maximum AGOVX drawdown since its inception was -33.41%, which is greater than RPIDX's maximum drawdown of -19.95%. Use the drawdown chart below to compare losses from any high point for AGOVX and RPIDX.

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Drawdown Indicators

AGOVXRPIDXDifference

Max Drawdown

Largest peak-to-trough decline

-33.41%

-19.95%

-13.46%

Max Drawdown (1Y)

Largest decline over 1 year

-2.67%

-1.34%

-1.33%

Max Drawdown (3Y)

Largest decline over 3 years

-3.60%

-3.17%

-0.43%

Max Drawdown (5Y)

Largest decline over 5 years

-11.79%

-7.31%

-4.48%

Max Drawdown (10Y)

Largest decline over 10 years

-33.41%

—

—

Current Drawdown

Current decline from peak

-1.04%

-0.86%

-0.18%

Average Drawdown

Average peak-to-trough decline

-2.39%

-1.86%

-0.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.90%

0.54%

+0.36%

Volatility

AGOVX vs. RPIDX - Volatility Comparison

Invesco Income Fund (AGOVX) has a higher volatility of 1.02% compared to T. Rowe Price Dynamic Credit Fund (RPIDX) at 0.60%. This indicates that AGOVX's price experiences larger fluctuations and is considered to be riskier than RPIDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AGOVXRPIDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.02%

0.60%

+0.42%

Volatility (6M)

Calculated over the trailing 6-month period

2.58%

2.68%

-0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

3.07%

3.44%

-0.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.44%

3.84%

-0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.33%

4.79%

+0.54%

AGOVX vs. RPIDX - Expense Ratio Comparison

AGOVX has a 0.96% expense ratio, which is higher than RPIDX's 0.63% expense ratio.

Dividends

AGOVX vs. RPIDX - Dividend Comparison

AGOVX's dividend yield for the trailing twelve months is around 5.07%, less than RPIDX's 10.81% yield.

PositionTTM20252024202320222021202020192018201720162015
AGOVX
Invesco Income Fund		5.07%5.09%5.12%4.61%3.45%2.96%4.14%4.69%2.76%1.89%1.72%1.55%
RPIDX
T. Rowe Price Dynamic Credit Fund		10.81%9.91%9.20%6.64%7.97%5.34%7.14%4.41%0.00%0.00%0.00%0.00%

Frequently Asked Questions

AGOVX and RPIDX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AGOVX has higher volatility (1.02%) compared to RPIDX (0.60%). In terms of maximum drawdown, AGOVX dropped -33.41% vs RPIDX's -19.95%.

RPIDX currently has the higher Sharpe Ratio (2.21 vs 1.35), 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.

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