ICSFX vs. FELV

Last updated Jun 24, 2026

ICSFX (Invesco Comstock Fund Class R6) and FELV (Fidelity Enhanced Large Cap Value ETF) are both Large Cap Value Equities funds. ICSFX is passively managed, while FELV is actively managed. Over the past year, ICSFX returned 23.15% vs 29.92% for FELV. Their correlation of 0.93 suggests significant overlap in exposure. ICSFX charges 0.44%/yr vs 0.18%/yr for FELV.

Performance

ICSFX vs. FELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Comstock Fund Class R6 (ICSFX) and Fidelity Enhanced Large Cap Value ETF (FELV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICSFX achieves a 10.58% return, which is significantly lower than FELV's 15.89% return.

ICSFX

• 1D: 0.45%
• 1M: 0.99%
• YTD: 10.58%
• 6M: 10.11%
• 1Y: 23.15%
• 3Y*: 18.66%
• 5Y*: 13.31%
• 10Y*: 19.39%

FELV

• 1D: -1.07%
• 1M: 2.65%
• YTD: 15.89%
• 6M: 15.09%
• 1Y: 29.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICSFX vs. FELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ICSFX Invesco Comstock Fund Class R6	10.58%	17.60%	15.45%	6.75%
FELV Fidelity Enhanced Large Cap Value ETF	15.89%	15.80%	15.89%	7.49%

Correlation

The correlation between ICSFX and FELV is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.93

The correlation between ICSFX and FELV has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

ICSFX vs. FELV — Risk / Return Rank

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

ICSFX

ICSFX Risk / Return Rank: 65
ICSFX Sharpe Ratio Rank: 67
ICSFX Sortino Ratio Rank: 69
ICSFX Omega Ratio Rank: 60
ICSFX Calmar Ratio Rank: 68
ICSFX Martin Ratio Rank: 63

FELV

FELV Risk / Return Rank: 86
FELV Sharpe Ratio Rank: 87
FELV Sortino Ratio Rank: 87
FELV Omega Ratio Rank: 85
FELV Calmar Ratio Rank: 85
FELV Martin Ratio Rank: 89

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.

ICSFX vs. FELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Comstock Fund Class R6 (ICSFX) and Fidelity Enhanced Large Cap Value ETF (FELV). 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.

	ICSFX	FELV	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.69	-0.49
Sortino ratio: Return per unit of downside risk	3.17	3.72	-0.55
Omega ratio: Gain probability vs. loss probability	1.39	1.49	-0.09
Calmar ratio: Return relative to maximum drawdown	3.05	4.39	-1.34
Martin ratio: Return relative to average drawdown	11.57	18.74	-7.16

ICSFX vs. FELV - Sharpe Ratio Comparison

The current ICSFX Sharpe Ratio is 2.20, which is comparable to the FELV Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of ICSFX and FELV, 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

ICSFX vs. FELV - Drawdown Comparison

The maximum ICSFX drawdown since its inception was -44.77%, which is greater than FELV's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for ICSFX and FELV.

Drawdown Indicators

	ICSFX	FELV	Difference
Max Drawdown Largest peak-to-trough decline	-44.77%	-16.08%	-28.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-6.85%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-15.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.77%	—	—
Current Drawdown Current decline from peak	-0.79%	-1.07%	+0.28%
Average Drawdown Average peak-to-trough decline	-5.17%	-2.04%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.60%	+0.49%

Volatility

ICSFX vs. FELV - Volatility Comparison

The current volatility for Invesco Comstock Fund Class R6 (ICSFX) is 3.26%, while Fidelity Enhanced Large Cap Value ETF (FELV) has a volatility of 4.19%. This indicates that ICSFX experiences smaller price fluctuations and is considered to be less risky than FELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSFX	FELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	4.19%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	8.57%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	11.22%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.35%	13.47%	+1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.54%	13.47%	+8.07%

ICSFX vs. FELV - Expense Ratio Comparison

ICSFX has a 0.44% expense ratio, which is higher than FELV's 0.18% expense ratio.

Dividends

ICSFX vs. FELV - Dividend Comparison

ICSFX's dividend yield for the trailing twelve months is around 8.35%, more than FELV's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELV Fidelity Enhanced Large Cap Value ETF	1.49%	1.67%	2.02%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ICSFX Invesco Comstock Fund Class R6	8.35%	9.17%	10.57%	8.82%	13.45%	9.06%	2.42%	51.25%	10.53%	4.00%	7.30%	1.48%

Frequently Asked Questions

Can I hold both ICSFX and FELV in my portfolio?

With a correlation of 0.91, ICSFX and FELV 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, ICSFX or FELV?

FELV has higher volatility (4.19%) compared to ICSFX (3.26%). In terms of maximum drawdown, ICSFX dropped -44.77% vs FELV's -16.08%.

Which has better risk-adjusted returns?

FELV currently has the higher Sharpe Ratio (2.69 vs 2.20), 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.