OAAYX vs. PALDX

Last updated Jun 4, 2026

OAAYX (Invesco Active Allocation Fund) and PALDX (PGIM 60/40 Allocation Fund) are both Diversified Portfolio funds. Over the past 5 years, OAAYX returned 6.63%/yr vs 9.57%/yr for PALDX. Their correlation of 0.91 suggests significant overlap in exposure. OAAYX charges 0.23%/yr vs 0.03%/yr for PALDX.

Performance

OAAYX vs. PALDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Active Allocation Fund (OAAYX) and PGIM 60/40 Allocation Fund (PALDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAAYX achieves a 11.63% return, which is significantly higher than PALDX's 7.89% return.

OAAYX

• 1D: 0.41%
• 1M: 5.01%
• YTD: 11.63%
• 6M: 11.62%
• 1Y: 23.56%
• 3Y*: 15.14%
• 5Y*: 6.63%
• 10Y*: 8.86%

PALDX

• 1D: 0.00%
• 1M: 3.48%
• YTD: 7.89%
• 6M: 8.39%
• 1Y: 20.92%
• 3Y*: 17.10%
• 5Y*: 9.57%
• 10Y*: —

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

OAAYX vs. PALDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OAAYX Invesco Active Allocation Fund	11.63%	15.81%	9.98%	13.83%	-19.11%	14.38%	13.12%	23.65%	-9.42%	4.74%
PALDX PGIM 60/40 Allocation Fund	7.89%	13.62%	18.96%	18.90%	-15.65%	16.30%	10.68%	22.27%	-4.12%	5.95%

Correlation

The correlation between OAAYX and PALDX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017	0.91

The correlation between OAAYX and PALDX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

OAAYX vs. PALDX — Risk / Return Rank

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

OAAYX

OAAYX Risk / Return Rank: 61
OAAYX Sharpe Ratio Rank: 59
OAAYX Sortino Ratio Rank: 56
OAAYX Omega Ratio Rank: 55
OAAYX Calmar Ratio Rank: 63
OAAYX Martin Ratio Rank: 70

PALDX

PALDX Risk / Return Rank: 83
PALDX Sharpe Ratio Rank: 84
PALDX Sortino Ratio Rank: 83
PALDX Omega Ratio Rank: 79
PALDX Calmar Ratio Rank: 80
PALDX Martin Ratio Rank: 88

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.

OAAYX vs. PALDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Active Allocation Fund (OAAYX) and PGIM 60/40 Allocation Fund (PALDX). 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.

	OAAYX	PALDX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.73	-0.47
Sortino ratio: Return per unit of downside risk	3.17	3.92	-0.75
Omega ratio: Gain probability vs. loss probability	1.41	1.52	-0.11
Calmar ratio: Return relative to maximum drawdown	3.06	3.62	-0.55
Martin ratio: Return relative to average drawdown	13.40	17.16	-3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OAAYX vs. PALDX - Sharpe Ratio Comparison

The current OAAYX Sharpe Ratio is 2.26, which is comparable to the PALDX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of OAAYX and PALDX, 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

	OAAYX	PALDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.73	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.79	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.81	-0.39

Drawdowns

OAAYX vs. PALDX - Drawdown Comparison

The maximum OAAYX drawdown since its inception was -54.70%, which is greater than PALDX's maximum drawdown of -26.16%. Use the drawdown chart below to compare losses from any high point for OAAYX and PALDX.

Drawdown Indicators

	OAAYX	PALDX	Difference
Max Drawdown Largest peak-to-trough decline	-54.70%	-26.16%	-28.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.87%	-5.96%	-1.91%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	-16.06%	+2.75%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-20.47%	-6.13%
Max Drawdown (10Y) Largest decline over 10 years	-31.18%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.39%	-4.09%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.25%	+0.54%

Volatility

OAAYX vs. PALDX - Volatility Comparison

Invesco Active Allocation Fund (OAAYX) has a higher volatility of 3.06% compared to PGIM 60/40 Allocation Fund (PALDX) at 2.30%. This indicates that OAAYX's price experiences larger fluctuations and is considered to be riskier than PALDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAAYX	PALDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.30%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	6.18%	+2.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	7.89%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.77%	12.11%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.26%	12.69%	+0.57%

OAAYX vs. PALDX - Expense Ratio Comparison

OAAYX has a 0.23% expense ratio, which is higher than PALDX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

OAAYX vs. PALDX - Dividend Comparison

OAAYX's dividend yield for the trailing twelve months is around 4.76%, less than PALDX's 5.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAAYX Invesco Active Allocation Fund	4.76%	5.31%	5.94%	3.31%	4.85%	8.53%	12.58%	8.88%	1.84%	1.32%	1.26%	1.81%
PALDX PGIM 60/40 Allocation Fund	5.02%	5.42%	10.40%	2.94%	6.19%	6.87%	2.58%	4.58%	3.65%	1.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OAAYX and PALDX in my portfolio?

With a correlation of 0.94, OAAYX and PALDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OAAYX or PALDX?

OAAYX has higher volatility (3.06%) compared to PALDX (2.30%). In terms of maximum drawdown, OAAYX dropped -54.70% vs PALDX's -26.16%.

Which has better risk-adjusted returns?

PALDX currently has the higher Sharpe Ratio (2.73 vs 2.26), 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.