IEGAX vs. RAIIX
IEGAX (Invesco EQV International Small Company Fund) and RAIIX (Manning & Napier Rainier International Discovery Series) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, IEGAX returned 8.58%/yr vs 8.68%/yr for RAIIX. A 0.77 correlation means they provide meaningful diversification when combined. IEGAX charges 1.49%/yr vs 1.12%/yr for RAIIX.
Performance
IEGAX vs. RAIIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IEGAX having a 11.06% return and RAIIX slightly higher at 11.51%. Both investments have delivered pretty close results over the past 10 years, with IEGAX having a 8.58% annualized return and RAIIX not far ahead at 8.68%.
IEGAX
- 1D
- -0.68%
- 1M
- 2.00%
- YTD
- 11.06%
- 6M
- 13.35%
- 1Y
- 17.06%
- 3Y*
- 14.22%
- 5Y*
- 7.09%
- 10Y*
- 8.58%
RAIIX
- 1D
- 0.13%
- 1M
- 1.12%
- YTD
- 11.51%
- 6M
- 13.19%
- 1Y
- 21.22%
- 3Y*
- 13.34%
- 5Y*
- 2.08%
- 10Y*
- 8.68%
IEGAX vs. RAIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEGAX Invesco EQV International Small Company Fund | 11.06% | 25.92% | -2.63% | 14.10% | -11.28% | 18.40% | 10.18% | 18.54% | -18.70% | 33.43% |
RAIIX Manning & Napier Rainier International Discovery Series | 11.51% | 27.00% | 0.62% | 6.55% | -30.41% | 14.09% | 41.45% | 24.94% | -18.03% | 42.04% |
Correlation
The correlation between IEGAX and RAIIX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.77 |
The correlation between IEGAX and RAIIX shifts across timeframes, from 0.77 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEGAX vs. RAIIX — Risk / Return Rank
IEGAX
RAIIX
IEGAX vs. RAIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco EQV International Small Company Fund (IEGAX) and Manning & Napier Rainier International Discovery Series (RAIIX). 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.
| IEGAX | RAIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.69 | -0.37 |
| Martin ratioReturn relative to average drawdown | 5.02 | 6.54 | -1.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEGAX | RAIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 1.41 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.12 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.51 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.62 | -0.07 |
Drawdowns
IEGAX vs. RAIIX - Drawdown Comparison
The maximum IEGAX drawdown since its inception was -65.36%, which is greater than RAIIX's maximum drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for IEGAX and RAIIX.
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Drawdown Indicators
| IEGAX | RAIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.36% | -39.87% | -25.49% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -12.00% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -12.41% | -14.68% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -23.64% | -39.87% | +16.23% |
Max Drawdown (10Y)Largest decline over 10 years | -43.09% | -39.87% | -3.22% |
Current DrawdownCurrent decline from peak | -1.47% | -1.50% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -13.24% | -11.11% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.10% | +0.15% |
Volatility
IEGAX vs. RAIIX - Volatility Comparison
Invesco EQV International Small Company Fund (IEGAX) and Manning & Napier Rainier International Discovery Series (RAIIX) have volatilities of 4.18% and 4.13%, 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.
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Volatility by Period
| IEGAX | RAIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 4.13% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 11.80% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.81% | 14.45% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.34% | 16.88% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.12% | 16.99% | -2.87% |
IEGAX vs. RAIIX - Expense Ratio Comparison
IEGAX has a 1.49% expense ratio, which is higher than RAIIX's 1.12% expense ratio.
Dividends
IEGAX vs. RAIIX - Dividend Comparison
IEGAX's dividend yield for the trailing twelve months is around 12.56%, more than RAIIX's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEGAX Invesco EQV International Small Company Fund | 12.56% | 13.95% | 3.17% | 2.26% | 2.98% | 4.22% | 1.11% | 4.55% | 3.87% | 6.32% | 6.29% | 8.20% |
RAIIX Manning & Napier Rainier International Discovery Series | 2.53% | 2.83% | 0.14% | 1.31% | 0.00% | 11.60% | 1.67% | 0.28% | 0.38% | 0.13% | 0.00% | 0.05% |
Frequently Asked Questions
IEGAX and RAIIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEGAX has higher volatility (4.18%) compared to RAIIX (4.13%). In terms of maximum drawdown, IEGAX dropped -65.36% vs RAIIX's -39.87%.
RAIIX currently has the higher Sharpe Ratio (1.41 vs 1.11), 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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