AVPEX vs. VTWAX
AVPEX (ALPS/Red Rocks Global Opportunity Portfolio) and VTWAX (Vanguard Total World Stock Index Fund Admiral Shares) are both Global Equities funds. Over the past 5 years, AVPEX returned 1.55%/yr vs 10.50%/yr for VTWAX. Their correlation of 0.86 means they have usually moved in the same direction. AVPEX charges 1.45%/yr vs 0.09%/yr for VTWAX.
Performance
AVPEX vs. VTWAX - Performance Comparison
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Returns By Period
In the year-to-date period, AVPEX achieves a -6.46% return, which is significantly lower than VTWAX's 10.81% return.
AVPEX
- 1D
- 1.49%
- 1M
- 3.02%
- 6M
- -5.24%
- YTD
- -6.46%
- 1Y
- -7.13%
- 3Y*
- 7.54%
- 5Y*
- 1.55%
- 10Y*
- 8.65%
- ALL TIME*
- 7.84%
VTWAX
- 1D
- 2.04%
- 1M
- -0.42%
- 6M
- 7.48%
- YTD
- 10.81%
- 1Y
- 23.20%
- 3Y*
- 17.83%
- 5Y*
- 10.50%
- 10Y*
- —
- ALL TIME*
- 13.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AVPEX vs. VTWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AVPEX ALPS/Red Rocks Global Opportunity Portfolio | -6.46% | 1.46% | 18.06% | 28.80% | -28.96% | 24.03% | 9.25% | 29.82% |
VTWAX Vanguard Total World Stock Index Fund Admiral Shares | 10.81% | 22.43% | 16.43% | 21.85% | -18.02% | 18.17% | 16.67% | 17.53% |
Correlation
The correlation between AVPEX and VTWAX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.86 |
The correlation between AVPEX and VTWAX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
AVPEX vs. VTWAX — Risk / Return Rank
AVPEX
VTWAX
AVPEX vs. VTWAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) and Vanguard Total World Stock Index Fund Admiral Shares (VTWAX). 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.
| AVPEX | VTWAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.28 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.20 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.89 | 9.18 | -10.07 |
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Drawdowns
AVPEX vs. VTWAX - Drawdown Comparison
The maximum AVPEX drawdown since its inception was -46.42%, which is greater than VTWAX's maximum drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for AVPEX and VTWAX.
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Drawdown Indicators
| AVPEX | VTWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.42% | -34.20% | -12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -21.97% | -9.64% | -12.33% |
Max Drawdown (3Y)Largest decline over 3 years | -22.41% | -16.43% | -5.98% |
Max Drawdown (5Y)Largest decline over 5 years | -37.50% | -26.40% | -11.10% |
Max Drawdown (10Y)Largest decline over 10 years | -46.42% | — | — |
Current DrawdownCurrent decline from peak | -11.12% | -2.07% | -9.05% |
Average DrawdownAverage peak-to-trough decline | -8.67% | -5.23% | -3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.60% | 2.30% | +8.30% |
Volatility
AVPEX vs. VTWAX - Volatility Comparison
ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) has a higher volatility of 4.93% compared to Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) at 4.00%. This indicates that AVPEX's price experiences larger fluctuations and is considered to be riskier than VTWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVPEX | VTWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 4.00% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 11.36% | +3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.52% | 13.65% | +4.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 15.89% | +3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.99% | 18.17% | +0.82% |
AVPEX vs. VTWAX - Expense Ratio Comparison
AVPEX has a 1.45% expense ratio, which is higher than VTWAX's 0.09% expense ratio.
Dividends
AVPEX vs. VTWAX - Dividend Comparison
AVPEX's dividend yield for the trailing twelve months is around 9.09%, more than VTWAX's 1.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVPEX ALPS/Red Rocks Global Opportunity Portfolio | 9.09% | 8.50% | 8.83% | 0.00% | 31.03% | 4.24% | 13.52% | 3.02% | 6.79% | 2.33% | 0.75% | 0.11% |
VTWAX Vanguard Total World Stock Index Fund Admiral Shares | 1.57% | 1.80% | 1.92% | 2.06% | 2.17% | 1.79% | 1.64% | 2.28% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVPEX and VTWAX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVPEX has higher volatility (4.93%) compared to VTWAX (4.00%). In terms of maximum drawdown, AVPEX dropped -46.42% vs VTWAX's -34.20%.
VTWAX currently has the higher Sharpe Ratio (1.55 vs -0.51), 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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