NCLEX vs. ODIIX
NCLEX (Nicholas Limited Edition Fund) and ODIIX (Invesco Discovery Fund Class R6) are both Small Cap Growth Equities funds. Over the past 10 years, NCLEX returned 7.50%/yr vs 15.49%/yr for ODIIX. Their correlation of 0.88 means they have usually moved in the same direction. NCLEX charges 0.85%/yr vs 0.65%/yr for ODIIX.
Performance
NCLEX vs. ODIIX - Performance Comparison
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Returns By Period
Over the past 10 years, NCLEX has underperformed ODIIX with an annualized return of 7.50%, while ODIIX has yielded a comparatively higher 15.49% annualized return.
NCLEX
- 1D
- -1.13%
- 1M
- 0.20%
- 6M
- 0.08%
- YTD
- 0.00%
- 1Y
- -2.29%
- 3Y*
- 0.57%
- 5Y*
- -0.61%
- 10Y*
- 7.50%
- ALL TIME*
- 9.15%
ODIIX
- 1D
- 4.83%
- 1M
- -7.27%
- 6M
- 10.85%
- YTD
- 21.59%
- 1Y
- 39.02%
- 3Y*
- 21.26%
- 5Y*
- 8.28%
- 10Y*
- 15.49%
- ALL TIME*
- 14.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NCLEX vs. ODIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | 0.00% | -10.41% | 11.91% | 17.17% | -23.71% | 19.07% | 22.67% | 27.36% | -0.94% | 19.93% |
ODIIX Invesco Discovery Fund Class R6 | 21.59% | 17.14% | 23.04% | 17.46% | -31.00% | 15.37% | 50.87% | 37.36% | -3.68% | 29.58% |
Correlation
The correlation between NCLEX and ODIIX is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2012 | 0.88 |
Over the past year, the correlation between NCLEX and ODIIX has dropped to 0.42 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
NCLEX vs. ODIIX — Risk / Return Rank
NCLEX
ODIIX
NCLEX vs. ODIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Invesco Discovery Fund Class R6 (ODIIX). 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.
| NCLEX | ODIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.24 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 2.39 | -2.65 |
| Martin ratioReturn relative to average drawdown | -0.51 | 9.93 | -10.44 |
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Drawdowns
NCLEX vs. ODIIX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, which is greater than ODIIX's maximum drawdown of -43.06%. Use the drawdown chart below to compare losses from any high point for NCLEX and ODIIX.
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Drawdown Indicators
| NCLEX | ODIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -43.06% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -20.88% | -16.66% | -4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -28.50% | -28.52% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -43.06% | +14.56% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -43.06% | +7.27% |
Current DrawdownCurrent decline from peak | -16.34% | -12.64% | -3.70% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -10.11% | +1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.65% | 3.82% | +6.83% |
Volatility
NCLEX vs. ODIIX - Volatility Comparison
The current volatility for Nicholas Limited Edition Fund (NCLEX) is 4.95%, while Invesco Discovery Fund Class R6 (ODIIX) has a volatility of 10.43%. This indicates that NCLEX experiences smaller price fluctuations and is considered to be less risky than ODIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLEX | ODIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 10.43% | -5.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 22.76% | -9.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 28.71% | -11.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 26.14% | -6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.22% | 25.20% | -5.98% |
NCLEX vs. ODIIX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is higher than ODIIX's 0.65% expense ratio.
Dividends
NCLEX vs. ODIIX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 7.53%, less than ODIIX's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | 7.53% | 7.53% | 2.51% | 2.43% | 6.22% | 16.44% | 5.10% | 5.66% | 10.72% | 7.97% | 10.68% | 8.05% |
ODIIX Invesco Discovery Fund Class R6 | 8.17% | 9.94% | 5.27% | 0.00% | 0.00% | 16.15% | 9.22% | 5.40% | 16.05% | 10.90% | 3.86% | 6.15% |
Frequently Asked Questions
NCLEX and ODIIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ODIIX has higher volatility (10.43%) compared to NCLEX (4.95%). In terms of maximum drawdown, NCLEX dropped -48.68% vs ODIIX's -43.06%.
ODIIX currently has the higher Sharpe Ratio (1.39 vs -0.32), 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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