ANCFX vs. OPTFX

Last updated Jun 5, 2026

ANCFX (American Funds Fundamental Investors Class A) and OPTFX (Invesco Capital Appreciation Fund) are both mutual funds - ANCFX is a Large Cap Blend Equities fund managed by American Funds, while OPTFX is a Large Cap Growth Equities fund managed by Invesco. Over the past 10 years, ANCFX returned 14.82%/yr vs 15.73%/yr for OPTFX. Their correlation of 0.86 suggests significant overlap in exposure. ANCFX charges 0.59%/yr vs 0.95%/yr for OPTFX.

Performance

ANCFX vs. OPTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Fundamental Investors Class A (ANCFX) and Invesco Capital Appreciation Fund (OPTFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANCFX achieves a 14.34% return, which is significantly higher than OPTFX's 10.57% return. Over the past 10 years, ANCFX has underperformed OPTFX with an annualized return of 14.82%, while OPTFX has yielded a comparatively higher 15.73% annualized return.

ANCFX

• 1D: -0.69%
• 1M: 4.25%
• YTD: 14.34%
• 6M: 15.35%
• 1Y: 33.32%
• 3Y*: 25.80%
• 5Y*: 14.56%
• 10Y*: 14.82%

OPTFX

• 1D: -0.58%
• 1M: 4.30%
• YTD: 10.57%
• 6M: 9.78%
• 1Y: 23.89%
• 3Y*: 23.72%
• 5Y*: 12.07%
• 10Y*: 15.73%

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

ANCFX vs. OPTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANCFX American Funds Fundamental Investors Class A	14.34%	24.21%	22.73%	25.86%	-16.66%	22.43%	14.92%	27.07%	-8.13%	22.80%
OPTFX Invesco Capital Appreciation Fund	10.57%	12.84%	34.05%	35.51%	-31.10%	21.42%	36.33%	36.22%	-5.96%	26.50%

Correlation

The correlation between ANCFX and OPTFX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 8, 1981	0.86

The correlation between ANCFX and OPTFX has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.

Return for Risk

ANCFX vs. OPTFX — Risk / Return Rank

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

ANCFX

ANCFX Risk / Return Rank: 68
ANCFX Sharpe Ratio Rank: 70
ANCFX Sortino Ratio Rank: 62
ANCFX Omega Ratio Rank: 63
ANCFX Calmar Ratio Rank: 68
ANCFX Martin Ratio Rank: 78

OPTFX

OPTFX Risk / Return Rank: 23
OPTFX Sharpe Ratio Rank: 26
OPTFX Sortino Ratio Rank: 24
OPTFX Omega Ratio Rank: 24
OPTFX Calmar Ratio Rank: 20
OPTFX Martin Ratio Rank: 21

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.

ANCFX vs. OPTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Fundamental Investors Class A (ANCFX) and Invesco Capital Appreciation Fund (OPTFX). 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.

	ANCFX	OPTFX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.45	+1.01
Sortino ratio: Return per unit of downside risk	3.32	2.06	+1.25
Omega ratio: Gain probability vs. loss probability	1.44	1.26	+0.18
Calmar ratio: Return relative to maximum drawdown	3.17	1.64	+1.53
Martin ratio: Return relative to average drawdown	14.66	5.26	+9.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ANCFX vs. OPTFX - Sharpe Ratio Comparison

The current ANCFX Sharpe Ratio is 2.46, which is higher than the OPTFX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of ANCFX and OPTFX, 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

	ANCFX	OPTFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.45	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.56	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.74	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.52	+0.12

Drawdowns

ANCFX vs. OPTFX - Drawdown Comparison

The maximum ANCFX drawdown since its inception was -53.29%, smaller than the maximum OPTFX drawdown of -57.95%. Use the drawdown chart below to compare losses from any high point for ANCFX and OPTFX.

Drawdown Indicators

	ANCFX	OPTFX	Difference
Max Drawdown Largest peak-to-trough decline	-53.29%	-57.95%	+4.66%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-16.85%	+6.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.97%	-26.46%	+8.49%
Max Drawdown (5Y) Largest decline over 5 years	-25.07%	-35.89%	+10.82%
Max Drawdown (10Y) Largest decline over 10 years	-33.93%	-35.89%	+1.96%
Current Drawdown Current decline from peak	-0.69%	-0.58%	-0.11%
Average Drawdown Average peak-to-trough decline	-7.32%	-13.99%	+6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	4.99%	-2.69%

Volatility

ANCFX vs. OPTFX - Volatility Comparison

The current volatility for American Funds Fundamental Investors Class A (ANCFX) is 3.81%, while Invesco Capital Appreciation Fund (OPTFX) has a volatility of 5.28%. This indicates that ANCFX experiences smaller price fluctuations and is considered to be less risky than OPTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANCFX	OPTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	5.28%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	15.45%	-4.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.76%	19.02%	-5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	22.27%	-5.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	21.46%	-3.73%

ANCFX vs. OPTFX - Expense Ratio Comparison

ANCFX has a 0.59% expense ratio, which is lower than OPTFX's 0.95% expense ratio.

Dividends

ANCFX vs. OPTFX - Dividend Comparison

ANCFX's dividend yield for the trailing twelve months is around 7.48%, less than OPTFX's 9.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANCFX American Funds Fundamental Investors Class A	7.48%	8.54%	8.90%	5.80%	4.98%	10.97%	2.61%	6.91%	9.31%	7.28%	4.71%	6.08%
OPTFX Invesco Capital Appreciation Fund	9.88%	10.93%	2.92%	0.00%	0.88%	28.43%	3.20%	23.53%	9.18%	9.34%	4.29%	13.78%

Frequently Asked Questions

Can I hold both ANCFX and OPTFX in my portfolio?

ANCFX and OPTFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANCFX or OPTFX?

OPTFX has higher volatility (5.28%) compared to ANCFX (3.81%). In terms of maximum drawdown, ANCFX dropped -53.29% vs OPTFX's -57.95%.

Which has better risk-adjusted returns?

ANCFX currently has the higher Sharpe Ratio (2.46 vs 1.45), 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.