MLPAX vs. VAFAX
Compare and contrast key facts about Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Invesco American Franchise Fund Class A (VAFAX).
MLPAX is an actively managed fund by Invesco. It was launched on Mar 31, 2010. VAFAX is managed by Invesco. It was launched on Jun 23, 2005.
Performance
MLPAX vs. VAFAX - Performance Comparison
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MLPAX vs. VAFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 16.11% | 4.31% | 40.77% | 20.43% | 29.07% | 39.45% | -30.58% | 5.60% | -15.05% | -7.22% |
VAFAX Invesco American Franchise Fund Class A | -9.70% | 11.86% | 34.78% | 40.91% | -31.20% | 11.13% | 42.15% | 36.55% | -3.99% | 27.11% |
Returns By Period
In the year-to-date period, MLPAX achieves a 16.11% return, which is significantly higher than VAFAX's -9.70% return. Over the past 10 years, MLPAX has underperformed VAFAX with an annualized return of 10.74%, while VAFAX has yielded a comparatively higher 13.99% annualized return.
MLPAX
- 1D
- -0.93%
- 1M
- 0.74%
- YTD
- 16.11%
- 6M
- 19.00%
- 1Y
- 12.97%
- 3Y*
- 25.98%
- 5Y*
- 25.34%
- 10Y*
- 10.74%
VAFAX
- 1D
- 4.44%
- 1M
- -5.93%
- YTD
- -9.70%
- 6M
- -12.22%
- 1Y
- 14.68%
- 3Y*
- 19.34%
- 5Y*
- 7.06%
- 10Y*
- 13.99%
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MLPAX vs. VAFAX - Expense Ratio Comparison
MLPAX has a 1.54% expense ratio, which is higher than VAFAX's 0.95% expense ratio.
Return for Risk
MLPAX vs. VAFAX — Risk / Return Rank
MLPAX
VAFAX
MLPAX vs. VAFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Invesco American Franchise Fund Class A (VAFAX). 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.
| MLPAX | VAFAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 0.63 | +0.18 |
Sortino ratioReturn per unit of downside risk | 1.12 | 1.06 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.65 | +0.26 |
Martin ratioReturn relative to average drawdown | 2.49 | 2.03 | +0.46 |
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
| MLPAX | VAFAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 0.63 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.31 | 0.31 | +1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.63 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.53 | -0.23 |
Correlation
The correlation between MLPAX and VAFAX is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MLPAX vs. VAFAX - Dividend Comparison
MLPAX's dividend yield for the trailing twelve months is around 5.11%, less than VAFAX's 15.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 5.11% | 5.72% | 5.00% | 5.91% | 6.56% | 7.91% | 14.02% | 9.91% | 10.40% | 8.21% | 7.34% | 7.99% |
VAFAX Invesco American Franchise Fund Class A | 15.61% | 14.09% | 3.74% | 0.00% | 8.32% | 26.50% | 8.78% | 6.85% | 10.42% | 5.37% | 4.08% | 4.90% |
Drawdowns
MLPAX vs. VAFAX - Drawdown Comparison
The maximum MLPAX drawdown since its inception was -77.51%, which is greater than VAFAX's maximum drawdown of -48.48%. Use the drawdown chart below to compare losses from any high point for MLPAX and VAFAX.
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Drawdown Indicators
| MLPAX | VAFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.51% | -48.48% | -29.03% |
Max Drawdown (1Y)Largest decline over 1 year | -14.80% | -19.27% | +4.47% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -38.86% | +17.82% |
Max Drawdown (10Y)Largest decline over 10 years | -72.85% | -38.86% | -33.99% |
Current DrawdownCurrent decline from peak | -1.54% | -15.69% | +14.15% |
Average DrawdownAverage peak-to-trough decline | -17.21% | -8.16% | -9.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 6.14% | -0.79% |
Volatility
MLPAX vs. VAFAX - Volatility Comparison
The current volatility for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) is 2.97%, while Invesco American Franchise Fund Class A (VAFAX) has a volatility of 8.31%. This indicates that MLPAX experiences smaller price fluctuations and is considered to be less risky than VAFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPAX | VAFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 8.31% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 7.74% | 15.69% | -7.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.70% | 25.39% | -8.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.57% | 23.03% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.11% | 22.23% | +3.88% |