GOGFX vs. ODMAX

Last updated Aug 5, 2026

GOGFX (Victory Sycamore Small Company Opportunity Fund) and ODMAX (Invesco Developing Markets Fund) are both mutual funds - GOGFX is a Small Cap Value Equities fund managed by Victory, while ODMAX is a Emerging Markets Equities fund managed by Invesco. Over the past 10 years, GOGFX returned 9.84%/yr vs 6.85%/yr for ODMAX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. GOGFX charges 1.42%/yr vs 1.24%/yr for ODMAX.

Performance

GOGFX vs. ODMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Sycamore Small Company Opportunity Fund (GOGFX) and Invesco Developing Markets Fund (ODMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOGFX achieves a 20.50% return, which is significantly higher than ODMAX's 17.53% return. Over the past 10 years, GOGFX has outperformed ODMAX with an annualized return of 9.84%, while ODMAX has yielded a comparatively lower 6.85% annualized return.

GOGFX

• 1D: 1.20%
• 1M: 0.73%
• 6M: 11.47%
• YTD: 20.50%
• 1Y: 28.43%
• 3Y*: 9.87%
• 5Y*: 7.39%
• 10Y*: 9.84%
• ALL TIME*: 9.68%

ODMAX

• 1D: 0.10%
• 1M: 3.39%
• 6M: 7.72%
• YTD: 17.53%
• 1Y: 36.13%
• 3Y*: 13.61%
• 5Y*: 2.96%
• 10Y*: 6.85%
• ALL TIME*: 10.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GOGFX Victory Sycamore Small Company Opportunity Fund	$0.00	$0.00	$0.00
ODMAX Invesco Developing Markets Fund	$0.00	$0.00	$0.00

GOGFX vs. ODMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOGFX Victory Sycamore Small Company Opportunity Fund	20.50%	1.16%	4.87%	11.10%	-7.11%	24.78%	4.21%	26.31%	-8.99%	11.27%
ODMAX Invesco Developing Markets Fund	17.53%	28.34%	-1.39%	11.17%	-25.16%	-7.54%	17.22%	24.02%	-12.14%	34.77%

Correlation

The correlation between GOGFX and ODMAX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.54
Correlation (All Time) Calculated using the full available price history since Nov 18, 1996	0.59

The correlation between GOGFX and ODMAX shifts across timeframes, from 0.47 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GOGFX vs. ODMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GOGFX

GOGFX Risk / Return Rank: 69
GOGFX Sharpe Ratio Rank: 67
GOGFX Sortino Ratio Rank: 75
GOGFX Omega Ratio Rank: 62
GOGFX Calmar Ratio Rank: 76
GOGFX Martin Ratio Rank: 66

ODMAX

ODMAX Risk / Return Rank: 77
ODMAX Sharpe Ratio Rank: 80
ODMAX Sortino Ratio Rank: 72
ODMAX Omega Ratio Rank: 77
ODMAX Calmar Ratio Rank: 85
ODMAX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GOGFX vs. ODMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Sycamore Small Company Opportunity Fund (GOGFX) and Invesco Developing Markets Fund (ODMAX). 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.

	GOGFX	ODMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.97	-0.18
Sortino ratio: Return per unit of downside risk	2.73	2.60	+0.13
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	2.73	3.17	-0.44
Martin ratio: Return relative to average drawdown	9.38	9.47	-0.09

GOGFX vs. ODMAX - Sharpe Ratio Comparison

The current GOGFX Sharpe Ratio is 1.79, which is comparable to the ODMAX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of GOGFX and ODMAX, 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

GOGFX vs. ODMAX - Drawdown Comparison

The maximum GOGFX drawdown since its inception was -55.84%, smaller than the maximum ODMAX drawdown of -61.63%. Use the drawdown chart below to compare losses from any high point for GOGFX and ODMAX.

Drawdown Indicators

	GOGFX	ODMAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.84%	-61.63%	+5.79%
Max Drawdown (1Y) Largest decline over 1 year	-11.05%	-12.08%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-26.25%	-18.26%	-7.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.25%	-41.66%	+15.41%
Max Drawdown (10Y) Largest decline over 10 years	-39.72%	-46.23%	+6.51%
Current Drawdown Current decline from peak	-0.08%	-5.05%	+4.97%
Average Drawdown Average peak-to-trough decline	-7.67%	-14.54%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	4.02%	-0.81%

Volatility

GOGFX vs. ODMAX - Volatility Comparison

The current volatility for Victory Sycamore Small Company Opportunity Fund (GOGFX) is 3.90%, while Invesco Developing Markets Fund (ODMAX) has a volatility of 6.51%. This indicates that GOGFX experiences smaller price fluctuations and is considered to be less risky than ODMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOGFX	ODMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	6.51%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	16.93%	-5.27%
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	19.47%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.45%	18.23%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.34%	18.08%	+4.26%

GOGFX vs. ODMAX - Expense Ratio Comparison

GOGFX has a 1.42% expense ratio, which is higher than ODMAX's 1.24% expense ratio.

Dividends

GOGFX vs. ODMAX - Dividend Comparison

GOGFX's dividend yield for the trailing twelve months is around 4.97%, less than ODMAX's 35.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOGFX Victory Sycamore Small Company Opportunity Fund	4.97%	5.99%	9.29%	6.87%	6.10%	13.49%	0.60%	5.30%	14.65%	5.37%	4.66%	9.99%
ODMAX Invesco Developing Markets Fund	35.35%	41.55%	0.01%	0.53%	0.57%	5.01%	0.00%	2.12%	0.28%	0.30%	0.23%	0.43%

Frequently Asked Questions

Can I hold both GOGFX and ODMAX in my portfolio?

GOGFX and ODMAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOGFX or ODMAX?

ODMAX has higher volatility (6.51%) compared to GOGFX (3.90%). In terms of maximum drawdown, GOGFX dropped -55.84% vs ODMAX's -61.63%.

Which has better risk-adjusted returns?

ODMAX currently has the higher Sharpe Ratio (1.97 vs 1.79), 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.