AMAEX vs. SMVSX

Last updated Jun 23, 2026

AMAEX (American Century Small Cap Dividend Fund) and SMVSX (Invesco Small Cap Value Fund Class R6) are both Small Cap Value Equities funds. Over the past 3 years, AMAEX returned 11.44%/yr vs 31.50%/yr for SMVSX. Their correlation of 0.86 suggests significant overlap in exposure. AMAEX charges 1.13%/yr vs 0.72%/yr for SMVSX.

Performance

AMAEX vs. SMVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Small Cap Dividend Fund (AMAEX) and Invesco Small Cap Value Fund Class R6 (SMVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMAEX achieves a 22.65% return, which is significantly lower than SMVSX's 31.61% return.

AMAEX

• 1D: 1.65%
• 1M: 5.04%
• YTD: 22.65%
• 6M: 20.49%
• 1Y: 29.27%
• 3Y*: 11.44%
• 5Y*: —
• 10Y*: —

SMVSX

• 1D: 2.24%
• 1M: 4.88%
• YTD: 31.61%
• 6M: 29.38%
• 1Y: 60.61%
• 3Y*: 31.50%
• 5Y*: 21.66%
• 10Y*: —

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

AMAEX vs. SMVSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AMAEX American Century Small Cap Dividend Fund	22.65%	-4.42%	11.05%	8.86%	-2.96%
SMVSX Invesco Small Cap Value Fund Class R6	31.61%	18.12%	25.01%	23.40%	4.29%

Correlation

The correlation between AMAEX and SMVSX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 28, 2022	0.86

The correlation between AMAEX and SMVSX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

Return for Risk

AMAEX vs. SMVSX — Risk / Return Rank

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

AMAEX

AMAEX Risk / Return Rank: 42
AMAEX Sharpe Ratio Rank: 41
AMAEX Sortino Ratio Rank: 42
AMAEX Omega Ratio Rank: 38
AMAEX Calmar Ratio Rank: 56
AMAEX Martin Ratio Rank: 33

SMVSX

SMVSX Risk / Return Rank: 87
SMVSX Sharpe Ratio Rank: 91
SMVSX Sortino Ratio Rank: 80
SMVSX Omega Ratio Rank: 78
SMVSX Calmar Ratio Rank: 95
SMVSX Martin Ratio Rank: 93

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.

AMAEX vs. SMVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Small Cap Dividend Fund (AMAEX) and Invesco Small Cap Value Fund Class R6 (SMVSX). 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.

	AMAEX	SMVSX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.80	-1.06
Sortino ratio: Return per unit of downside risk	2.50	3.47	-0.97
Omega ratio: Gain probability vs. loss probability	1.31	1.46	-0.16
Calmar ratio: Return relative to maximum drawdown	2.74	5.33	-2.59
Martin ratio: Return relative to average drawdown	7.07	18.58	-11.51

AMAEX vs. SMVSX - Sharpe Ratio Comparison

The current AMAEX Sharpe Ratio is 1.74, which is lower than the SMVSX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of AMAEX and SMVSX, 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

AMAEX vs. SMVSX - Drawdown Comparison

The maximum AMAEX drawdown since its inception was -23.97%, smaller than the maximum SMVSX drawdown of -57.41%. Use the drawdown chart below to compare losses from any high point for AMAEX and SMVSX.

Drawdown Indicators

	AMAEX	SMVSX	Difference
Max Drawdown Largest peak-to-trough decline	-23.97%	-57.41%	+33.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	-11.39%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-23.97%	-25.23%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.23%	—
Current Drawdown Current decline from peak	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-7.37%	-8.54%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	3.25%	+0.88%

Volatility

AMAEX vs. SMVSX - Volatility Comparison

The current volatility for American Century Small Cap Dividend Fund (AMAEX) is 4.32%, while Invesco Small Cap Value Fund Class R6 (SMVSX) has a volatility of 8.92%. This indicates that AMAEX experiences smaller price fluctuations and is considered to be less risky than SMVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMAEX	SMVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	8.92%	-4.60%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	17.02%	-6.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.82%	21.71%	-4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.63%	23.33%	-3.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	27.09%	-7.46%

AMAEX vs. SMVSX - Expense Ratio Comparison

AMAEX has a 1.13% expense ratio, which is higher than SMVSX's 0.72% expense ratio.

Dividends

AMAEX vs. SMVSX - Dividend Comparison

AMAEX's dividend yield for the trailing twelve months is around 1.76%, less than SMVSX's 6.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMAEX American Century Small Cap Dividend Fund	1.76%	2.57%	1.37%	1.99%	2.56%	0.00%	0.00%	0.00%	0.00%	0.00%
SMVSX Invesco Small Cap Value Fund Class R6	6.49%	8.54%	7.42%	4.78%	9.57%	15.80%	0.48%	2.36%	26.72%	15.91%

Frequently Asked Questions

Can I hold both AMAEX and SMVSX in my portfolio?

AMAEX and SMVSX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMAEX or SMVSX?

SMVSX has higher volatility (8.92%) compared to AMAEX (4.32%). In terms of maximum drawdown, AMAEX dropped -23.97% vs SMVSX's -57.41%.

Which has better risk-adjusted returns?

SMVSX currently has the higher Sharpe Ratio (2.80 vs 1.74), 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.