FSTEX vs. VENAX

Last updated Jun 4, 2026

FSTEX (Invesco Energy Fund) and VENAX (Vanguard Energy Index Fund Admiral Shares) are both Energy Equities funds. Over the past 10 years, FSTEX returned 6.99%/yr vs 9.50%/yr for VENAX. With a 0.97 correlation, they move nearly in lockstep. FSTEX charges 1.36%/yr vs 0.10%/yr for VENAX.

Performance

FSTEX vs. VENAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Energy Fund (FSTEX) and Vanguard Energy Index Fund Admiral Shares (VENAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FSTEX having a 31.93% return and VENAX slightly lower at 30.74%. Over the past 10 years, FSTEX has underperformed VENAX with an annualized return of 6.99%, while VENAX has yielded a comparatively higher 9.50% annualized return.

FSTEX

• 1D: 1.18%
• 1M: -3.08%
• YTD: 31.93%
• 6M: 29.06%
• 1Y: 45.47%
• 3Y*: 19.59%
• 5Y*: 21.23%
• 10Y*: 6.99%

VENAX

• 1D: 1.15%
• 1M: -3.23%
• YTD: 30.74%
• 6M: 27.90%
• 1Y: 43.96%
• 3Y*: 17.52%
• 5Y*: 20.23%
• 10Y*: 9.50%

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

FSTEX vs. VENAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSTEX Invesco Energy Fund	31.93%	12.31%	6.00%	0.28%	52.85%	55.99%	-32.13%	4.78%	-26.82%	-8.26%
VENAX Vanguard Energy Index Fund Admiral Shares	30.74%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%

Correlation

The correlation between FSTEX and VENAX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 30, 2004	0.97

The correlation between FSTEX and VENAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FSTEX vs. VENAX — Risk / Return Rank

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

FSTEX

FSTEX Risk / Return Rank: 70
FSTEX Sharpe Ratio Rank: 74
FSTEX Sortino Ratio Rank: 55
FSTEX Omega Ratio Rank: 54
FSTEX Calmar Ratio Rank: 89
FSTEX Martin Ratio Rank: 78

VENAX

VENAX Risk / Return Rank: 58
VENAX Sharpe Ratio Rank: 59
VENAX Sortino Ratio Rank: 48
VENAX Omega Ratio Rank: 45
VENAX Calmar Ratio Rank: 84
VENAX Martin Ratio Rank: 57

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.

FSTEX vs. VENAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Energy Fund (FSTEX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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.

	FSTEX	VENAX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.26	+0.23
Sortino ratio: Return per unit of downside risk	3.13	2.90	+0.23
Omega ratio: Gain probability vs. loss probability	1.40	1.36	+0.04
Calmar ratio: Return relative to maximum drawdown	4.59	3.91	+0.68
Martin ratio: Return relative to average drawdown	14.62	11.54	+3.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSTEX vs. VENAX - Sharpe Ratio Comparison

The current FSTEX Sharpe Ratio is 2.50, which is comparable to the VENAX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FSTEX and VENAX, 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

	FSTEX	VENAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.26	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.77	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.32	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.27	-0.01

Drawdowns

FSTEX vs. VENAX - Drawdown Comparison

The maximum FSTEX drawdown since its inception was -83.31%, which is greater than VENAX's maximum drawdown of -74.42%. Use the drawdown chart below to compare losses from any high point for FSTEX and VENAX.

Drawdown Indicators

	FSTEX	VENAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.31%	-74.42%	-8.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-11.79%	+1.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.58%	-21.44%	+2.86%
Max Drawdown (5Y) Largest decline over 5 years	-26.88%	-26.59%	-0.29%
Max Drawdown (10Y) Largest decline over 10 years	-73.41%	-69.58%	-3.83%
Current Drawdown Current decline from peak	-5.51%	-7.50%	+1.99%
Average Drawdown Average peak-to-trough decline	-25.20%	-19.98%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.99%	-0.77%

Volatility

FSTEX vs. VENAX - Volatility Comparison

Invesco Energy Fund (FSTEX) and Vanguard Energy Index Fund Admiral Shares (VENAX) have volatilities of 7.70% and 7.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTEX	VENAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	7.91%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	16.29%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	20.40%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.15%	26.43%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.73%	30.24%	-0.51%

FSTEX vs. VENAX - Expense Ratio Comparison

FSTEX has a 1.36% expense ratio, which is higher than VENAX's 0.10% expense ratio.

Dividends

FSTEX vs. VENAX - Dividend Comparison

FSTEX's dividend yield for the trailing twelve months is around 1.68%, less than VENAX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSTEX Invesco Energy Fund	1.68%	2.22%	4.03%	2.11%	0.89%	1.80%	2.21%	1.53%	3.05%	2.22%	1.10%	1.58%
VENAX Vanguard Energy Index Fund Admiral Shares	2.40%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both FSTEX and VENAX in my portfolio?

With a correlation of 0.97, FSTEX and VENAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSTEX or VENAX?

VENAX has higher volatility (7.91%) compared to FSTEX (7.70%). In terms of maximum drawdown, FSTEX dropped -83.31% vs VENAX's -74.42%.

Which has better risk-adjusted returns?

FSTEX currently has the higher Sharpe Ratio (2.50 vs 2.26), 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.