MLPFX vs. VADDX

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Invesco Equally-Weighted S&P 500 Fund (VADDX).

MLPFX is an actively managed fund by Invesco. It was launched on Mar 31, 2010. VADDX is a passively managed fund by Invesco that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Jul 28, 1997.

Performance

MLPFX vs. VADDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Invesco Equally-Weighted S&P 500 Fund (VADDX). The values are adjusted to include any dividend payments, if applicable.

MLPFX vs. VADDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPFX Invesco SteelPath MLP Select 40 Fund Class A	20.14%	8.22%	29.99%	22.47%	21.84%	39.44%	-25.43%	6.90%	-9.63%	-4.02%
VADDX Invesco Equally-Weighted S&P 500 Fund	-1.41%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%

Returns By Period

In the year-to-date period, MLPFX achieves a 20.14% return, which is significantly higher than VADDX's -1.41% return. Over the past 10 years, MLPFX has outperformed VADDX with an annualized return of 11.36%, while VADDX has yielded a comparatively lower 10.72% annualized return.

MLPFX

• 1D: -0.93%
• 1M: 2.56%
• YTD: 20.14%
• 6M: 22.49%
• 1Y: 19.91%
• 3Y*: 26.35%
• 5Y*: 24.42%
• 10Y*: 11.36%

VADDX

• 1D: -0.23%
• 1M: -7.88%
• YTD: -1.41%
• 6M: -0.10%
• 1Y: 10.33%
• 3Y*: 10.89%
• 5Y*: 7.50%
• 10Y*: 10.72%

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

MLPFX vs. VADDX - Expense Ratio Comparison

MLPFX has a 10.29% expense ratio, which is higher than VADDX's 0.27% expense ratio.

MLPFX

Invesco SteelPath MLP Select 40 Fund Class A

VADDX

Invesco Equally-Weighted S&P 500 Fund

Return for Risk

MLPFX vs. VADDX — Risk / Return Rank

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

MLPFX

MLPFX Risk / Return Rank: 54
MLPFX Sharpe Ratio Rank: 65
MLPFX Sortino Ratio Rank: 56
MLPFX Omega Ratio Rank: 60
MLPFX Calmar Ratio Rank: 53
MLPFX Martin Ratio Rank: 36

VADDX

VADDX Risk / Return Rank: 29
VADDX Sharpe Ratio Rank: 29
VADDX Sortino Ratio Rank: 30
VADDX Omega Ratio Rank: 29
VADDX Calmar Ratio Rank: 25
VADDX Martin Ratio Rank: 31

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.

MLPFX vs. VADDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Invesco Equally-Weighted S&P 500 Fund (VADDX). 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.

	MLPFX	VADDX	Difference
Sharpe ratio Return per unit of total volatility	1.17	0.66	+0.51
Sortino ratio Return per unit of downside risk	1.53	1.04	+0.49
Omega ratio Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio Return relative to maximum drawdown	1.31	0.73	+0.58
Martin ratio Return relative to average drawdown	3.91	3.33	+0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPFX vs. VADDX - Sharpe Ratio Comparison

The current MLPFX Sharpe Ratio is 1.17, which is higher than the VADDX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of MLPFX and VADDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MLPFX	VADDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.66	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.37	0.46	+0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.58	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.46	-0.08

Correlation

The correlation between MLPFX and VADDX is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MLPFX vs. VADDX - Dividend Comparison

MLPFX's dividend yield for the trailing twelve months is around 5.25%, less than VADDX's 10.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPFX Invesco SteelPath MLP Select 40 Fund Class A	5.25%	6.11%	5.29%	6.54%	7.34%	8.29%	13.36%	10.42%	10.09%	8.35%	7.41%	7.84%
VADDX Invesco Equally-Weighted S&P 500 Fund	10.23%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Drawdowns

MLPFX vs. VADDX - Drawdown Comparison

The maximum MLPFX drawdown since its inception was -76.01%, which is greater than VADDX's maximum drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for MLPFX and VADDX.

Drawdown Indicators

	MLPFX	VADDX	Difference
Max Drawdown Largest peak-to-trough decline	-76.01%	-60.12%	-15.89%
Max Drawdown (1Y) Largest decline over 1 year	-14.55%	-12.61%	-1.94%
Max Drawdown (5Y) Largest decline over 5 years	-18.81%	-21.58%	+2.77%
Max Drawdown (10Y) Largest decline over 10 years	-72.18%	-39.39%	-32.79%
Current Drawdown Current decline from peak	-1.39%	-7.88%	+6.49%
Average Drawdown Average peak-to-trough decline	-13.20%	-7.04%	-6.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	2.77%	+2.09%

Volatility

MLPFX vs. VADDX - Volatility Comparison

Invesco SteelPath MLP Select 40 Fund Class A (MLPFX) and Invesco Equally-Weighted S&P 500 Fund (VADDX) have volatilities of 3.71% and 3.77%, 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

	MLPFX	VADDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.77%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	8.70%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	17.17%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	16.27%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.08%	18.53%	+6.55%