IEGAX vs. OPGIX

Last updated Jun 25, 2026

IEGAX (Invesco EQV International Small Company Fund) and OPGIX (Invesco Global Opportunities Fund Class A) are both Foreign Small & Mid Cap Equities funds from Invesco. Over the past 10 years, IEGAX returned 8.91%/yr vs 6.84%/yr for OPGIX. A 0.68 correlation means they provide meaningful diversification when combined. IEGAX charges 1.49%/yr vs 1.04%/yr for OPGIX.

Performance

IEGAX vs. OPGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco EQV International Small Company Fund (IEGAX) and Invesco Global Opportunities Fund Class A (OPGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEGAX achieves a 6.99% return, which is significantly lower than OPGIX's 12.17% return. Over the past 10 years, IEGAX has outperformed OPGIX with an annualized return of 8.91%, while OPGIX has yielded a comparatively lower 6.84% annualized return.

IEGAX

• 1D: -2.50%
• 1M: -3.29%
• YTD: 6.99%
• 6M: 6.64%
• 1Y: 10.27%
• 3Y*: 12.55%
• 5Y*: 6.24%
• 10Y*: 8.91%

OPGIX

• 1D: -2.24%
• 1M: 0.23%
• YTD: 12.17%
• 6M: 10.30%
• 1Y: 14.69%
• 3Y*: 4.69%
• 5Y*: -6.22%
• 10Y*: 6.84%

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

IEGAX vs. OPGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEGAX Invesco EQV International Small Company Fund	6.99%	25.92%	-2.63%	14.10%	-11.28%	18.40%	10.18%	18.54%	-18.70%	33.43%
OPGIX Invesco Global Opportunities Fund Class A	12.17%	7.12%	-7.47%	17.34%	-41.63%	0.02%	39.82%	27.74%	-18.26%	52.59%

Correlation

The correlation between IEGAX and OPGIX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 31, 2000	0.68

The correlation between IEGAX and OPGIX has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

Return for Risk

IEGAX vs. OPGIX — Risk / Return Rank

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

IEGAX

IEGAX Risk / Return Rank: 12
IEGAX Sharpe Ratio Rank: 11
IEGAX Sortino Ratio Rank: 11
IEGAX Omega Ratio Rank: 12
IEGAX Calmar Ratio Rank: 12
IEGAX Martin Ratio Rank: 15

OPGIX

OPGIX Risk / Return Rank: 22
OPGIX Sharpe Ratio Rank: 16
OPGIX Sortino Ratio Rank: 18
OPGIX Omega Ratio Rank: 16
OPGIX Calmar Ratio Rank: 27
OPGIX Martin Ratio Rank: 30

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.

IEGAX vs. OPGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EQV International Small Company Fund (IEGAX) and Invesco Global Opportunities Fund Class A (OPGIX). 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.

	IEGAX	OPGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.01	-0.24
Sortino ratio: Return per unit of downside risk	1.19	1.54	-0.35
Omega ratio: Gain probability vs. loss probability	1.15	1.19	-0.03
Calmar ratio: Return relative to maximum drawdown	0.97	1.76	-0.79
Martin ratio: Return relative to average drawdown	3.57	6.28	-2.71

IEGAX vs. OPGIX - Sharpe Ratio Comparison

The current IEGAX Sharpe Ratio is 0.77, which is comparable to the OPGIX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of IEGAX and OPGIX, 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

IEGAX vs. OPGIX - Drawdown Comparison

The maximum IEGAX drawdown since its inception was -65.36%, roughly equal to the maximum OPGIX drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for IEGAX and OPGIX.

Drawdown Indicators

	IEGAX	OPGIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.36%	-62.57%	-2.79%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-10.08%	-2.33%
Max Drawdown (3Y) Largest decline over 3 years	-12.41%	-25.17%	+12.76%
Max Drawdown (5Y) Largest decline over 5 years	-23.64%	-52.49%	+28.85%
Max Drawdown (10Y) Largest decline over 10 years	-43.09%	-54.65%	+11.56%
Current Drawdown Current decline from peak	-5.07%	-33.58%	+28.51%
Average Drawdown Average peak-to-trough decline	-13.22%	-15.76%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.70%	+0.66%

Volatility

IEGAX vs. OPGIX - Volatility Comparison

Invesco EQV International Small Company Fund (IEGAX) and Invesco Global Opportunities Fund Class A (OPGIX) have volatilities of 6.34% and 6.25%, 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

	IEGAX	OPGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	6.25%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	14.24%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	15.66%	17.66%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	22.69%	-9.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.99%	22.50%	-8.51%

IEGAX vs. OPGIX - Expense Ratio Comparison

IEGAX has a 1.49% expense ratio, which is higher than OPGIX's 1.04% expense ratio.

Dividends

IEGAX vs. OPGIX - Dividend Comparison

IEGAX's dividend yield for the trailing twelve months is around 13.04%, more than OPGIX's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEGAX Invesco EQV International Small Company Fund	13.04%	13.95%	3.17%	2.26%	2.98%	4.22%	1.11%	4.55%	3.87%	6.32%	6.29%	8.20%
OPGIX Invesco Global Opportunities Fund Class A	0.10%	0.11%	0.01%	0.00%	0.00%	5.29%	8.95%	6.16%	10.87%	2.32%	7.86%	0.66%

Frequently Asked Questions

Can I hold both IEGAX and OPGIX in my portfolio?

IEGAX and OPGIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEGAX or OPGIX?

IEGAX has higher volatility (6.34%) compared to OPGIX (6.25%). In terms of maximum drawdown, IEGAX dropped -65.36% vs OPGIX's -62.57%.

Which has better risk-adjusted returns?

OPGIX currently has the higher Sharpe Ratio (1.01 vs 0.77), 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.