IMCB vs. OEGYX

Last updated Jun 3, 2026

IMCB (iShares Morningstar Mid-Cap ETF) and OEGYX (Invesco Discovery Mid Cap Growth Fund) are both funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index, while OEGYX is a Mid Cap Growth Equities fund managed by Invesco. Over the past 10 years, IMCB returned 11.35%/yr vs 13.53%/yr for OEGYX. Their correlation of 0.87 suggests significant overlap in exposure. IMCB charges 0.04%/yr vs 0.78%/yr for OEGYX.

Performance

IMCB vs. OEGYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Mid-Cap ETF (IMCB) and Invesco Discovery Mid Cap Growth Fund (OEGYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCB achieves a 15.00% return, which is significantly lower than OEGYX's 23.19% return. Over the past 10 years, IMCB has underperformed OEGYX with an annualized return of 11.35%, while OEGYX has yielded a comparatively higher 13.53% annualized return.

IMCB

• 1D: 1.17%
• 1M: 4.93%
• YTD: 15.00%
• 6M: 15.90%
• 1Y: 24.63%
• 3Y*: 17.94%
• 5Y*: 9.00%
• 10Y*: 11.35%

OEGYX

• 1D: 0.07%
• 1M: 3.67%
• YTD: 23.19%
• 6M: 20.86%
• 1Y: 31.57%
• 3Y*: 20.17%
• 5Y*: 7.60%
• 10Y*: 13.53%

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

IMCB vs. OEGYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCB iShares Morningstar Mid-Cap ETF	15.00%	10.25%	15.10%	16.37%	-16.09%	22.81%	13.35%	31.49%	-11.53%	19.70%
OEGYX Invesco Discovery Mid Cap Growth Fund	23.19%	5.08%	24.38%	13.24%	-30.92%	18.76%	40.53%	39.33%	-6.50%	28.34%

Correlation

The correlation between IMCB and OEGYX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 6, 2004	0.87

The correlation between IMCB and OEGYX has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

Return for Risk

IMCB vs. OEGYX — Risk / Return Rank

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

IMCB

IMCB Risk / Return Rank: 59
IMCB Sharpe Ratio Rank: 56
IMCB Sortino Ratio Rank: 57
IMCB Omega Ratio Rank: 54
IMCB Calmar Ratio Rank: 61
IMCB Martin Ratio Rank: 66

OEGYX

OEGYX Risk / Return Rank: 43
OEGYX Sharpe Ratio Rank: 31
OEGYX Sortino Ratio Rank: 28
OEGYX Omega Ratio Rank: 28
OEGYX Calmar Ratio Rank: 70
OEGYX Martin Ratio Rank: 59

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.

IMCB vs. OEGYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) and Invesco Discovery Mid Cap Growth Fund (OEGYX). 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.

	IMCB	OEGYX	Difference
Sharpe ratio Return per unit of total volatility	1.94	1.62	+0.32
Sortino ratio Return per unit of downside risk	2.75	2.23	+0.52
Omega ratio Gain probability vs. loss probability	1.34	1.28	+0.06
Calmar ratio Return relative to maximum drawdown	3.08	3.26	-0.18
Martin ratio Return relative to average drawdown	12.25	11.86	+0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMCB vs. OEGYX - Sharpe Ratio Comparison

The current IMCB Sharpe Ratio is 1.94, which is comparable to the OEGYX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of IMCB and OEGYX, 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

	IMCB	OEGYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.62	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.35	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.62	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.39	+0.11

Drawdowns

IMCB vs. OEGYX - Drawdown Comparison

The maximum IMCB drawdown since its inception was -58.80%, which is greater than OEGYX's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for IMCB and OEGYX.

Drawdown Indicators

	IMCB	OEGYX	Difference
Max Drawdown Largest peak-to-trough decline	-58.80%	-53.44%	-5.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-10.14%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.80%	-28.58%	+8.78%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-39.25%	+14.10%
Max Drawdown (10Y) Largest decline over 10 years	-40.99%	-39.25%	-1.74%
Current Drawdown Current decline from peak	0.00%	-0.91%	+0.91%
Average Drawdown Average peak-to-trough decline	-7.73%	-12.50%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.79%	-0.76%

Volatility

IMCB vs. OEGYX - Volatility Comparison

The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 3.37%, while Invesco Discovery Mid Cap Growth Fund (OEGYX) has a volatility of 6.09%. This indicates that IMCB experiences smaller price fluctuations and is considered to be less risky than OEGYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCB	OEGYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	6.09%	-2.72%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	16.50%	-6.89%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	20.24%	-7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	22.07%	-4.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.65%	22.03%	-2.38%

IMCB vs. OEGYX - Expense Ratio Comparison

IMCB has a 0.04% expense ratio, which is lower than OEGYX's 0.78% expense ratio.

Dividends

IMCB vs. OEGYX - Dividend Comparison

IMCB's dividend yield for the trailing twelve months is around 1.21%, less than OEGYX's 6.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%
OEGYX Invesco Discovery Mid Cap Growth Fund	6.05%	7.45%	4.13%	0.00%	0.00%	16.02%	3.08%	3.85%	9.31%	8.34%	0.81%	3.88%

Frequently Asked Questions

Can I hold both IMCB and OEGYX in my portfolio?

IMCB and OEGYX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCB or OEGYX?

OEGYX has higher volatility (6.09%) compared to IMCB (3.37%). In terms of maximum drawdown, IMCB dropped -58.80% vs OEGYX's -53.44%.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.94 vs 1.62), 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.