AGOVX vs. VADDX

Last updated Jun 5, 2026

AGOVX (Invesco Income Fund) and VADDX (Invesco Equally-Weighted S&P 500 Fund) are both mutual funds - AGOVX is a Nontraditional Bonds 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, AGOVX returned 1.12%/yr vs 11.61%/yr for VADDX. At a correlation of -0.13, they often move in opposite directions. AGOVX charges 0.96%/yr vs 0.27%/yr for VADDX.

Performance

AGOVX vs. VADDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Income Fund (AGOVX) 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, AGOVX achieves a 0.48% return, which is significantly lower than VADDX's 9.59% return. Over the past 10 years, AGOVX has underperformed VADDX with an annualized return of 1.12%, while VADDX has yielded a comparatively higher 11.61% annualized return.

AGOVX

• 1D: -0.14%
• 1M: 0.11%
• YTD: 0.48%
• 6M: 0.75%
• 1Y: 4.10%
• 3Y*: 5.40%
• 5Y*: 1.57%
• 10Y*: 1.12%

VADDX

• 1D: -0.42%
• 1M: 2.87%
• YTD: 9.59%
• 6M: 10.02%
• 1Y: 19.62%
• 3Y*: 15.10%
• 5Y*: 8.20%
• 10Y*: 11.61%

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

AGOVX vs. VADDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGOVX Invesco Income Fund	0.48%	6.61%	7.01%	4.57%	-10.05%	3.90%	-6.66%	10.04%	-2.86%	1.68%
VADDX Invesco Equally-Weighted S&P 500 Fund	9.59%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%

Correlation

The correlation between AGOVX and VADDX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jul 29, 1997	-0.13

The correlation between AGOVX and VADDX shifts across timeframes, from -0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AGOVX vs. VADDX — Risk / Return Rank

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

AGOVX

AGOVX Risk / Return Rank: 27
AGOVX Sharpe Ratio Rank: 27
AGOVX Sortino Ratio Rank: 32
AGOVX Omega Ratio Rank: 36
AGOVX Calmar Ratio Rank: 21
AGOVX Martin Ratio Rank: 20

VADDX

VADDX Risk / Return Rank: 37
VADDX Sharpe Ratio Rank: 34
VADDX Sortino Ratio Rank: 34
VADDX Omega Ratio Rank: 32
VADDX Calmar Ratio Rank: 43
VADDX Martin Ratio Rank: 45

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. VADDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Income Fund (AGOVX) 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.

	AGOVX	VADDX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.68	-0.24
Sortino ratio: Return per unit of downside risk	2.28	2.44	-0.16
Omega ratio: Gain probability vs. loss probability	1.31	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	1.60	2.47	-0.87
Martin ratio: Return relative to average drawdown	5.06	9.36	-4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGOVX vs. VADDX - Sharpe Ratio Comparison

The current AGOVX Sharpe Ratio is 1.43, which is comparable to the VADDX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of AGOVX 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.

Sharpe Ratios by Period

	AGOVX	VADDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.68	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.51	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.63	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.47	+0.31

Drawdowns

AGOVX vs. VADDX - Drawdown Comparison

The maximum AGOVX drawdown since its inception was -33.41%, smaller than the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for AGOVX and VADDX.

Drawdown Indicators

	AGOVX	VADDX	Difference
Max Drawdown Largest peak-to-trough decline	-33.41%	-60.12%	+26.71%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	-7.88%	+5.21%
Max Drawdown (3Y) Largest decline over 3 years	-3.60%	-17.86%	+14.26%
Max Drawdown (5Y) Largest decline over 5 years	-11.79%	-21.58%	+9.79%
Max Drawdown (10Y) Largest decline over 10 years	-33.41%	-39.39%	+5.98%
Current Drawdown Current decline from peak	-1.33%	-0.42%	-0.91%
Average Drawdown Average peak-to-trough decline	-2.39%	-7.00%	+4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	2.07%	-1.23%

Volatility

AGOVX vs. VADDX - Volatility Comparison

The current volatility for Invesco Income Fund (AGOVX) is 1.21%, while Invesco Equally-Weighted S&P 500 Fund (VADDX) has a volatility of 2.60%. This indicates that AGOVX 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

	AGOVX	VADDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	2.60%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	8.39%	-5.89%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	11.65%	-8.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.42%	16.27%	-12.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	18.54%	-13.21%

AGOVX vs. VADDX - Expense Ratio Comparison

AGOVX has a 0.96% expense ratio, which is higher than VADDX's 0.27% expense ratio.

Dividends

AGOVX vs. VADDX - Dividend Comparison

AGOVX's dividend yield for the trailing twelve months is around 5.08%, less than VADDX's 9.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGOVX Invesco Income Fund	5.08%	5.09%	5.12%	4.61%	3.45%	2.96%	4.14%	4.69%	2.76%	1.89%	1.72%	1.55%
VADDX Invesco Equally-Weighted S&P 500 Fund	9.20%	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 AGOVX and VADDX in my portfolio?

AGOVX and VADDX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGOVX or VADDX?

VADDX has higher volatility (2.60%) compared to AGOVX (1.21%). In terms of maximum drawdown, AGOVX dropped -33.41% vs VADDX's -60.12%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.68 vs 1.43), 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.