ODVIX vs. ^GSPC
ODVIX (Invesco Developing Markets Fund Class R6) is Emerging Markets Equities fund managed by Invesco, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, ODVIX returned 7.17%/yr vs 13.26%/yr for ^GSPC. Their 0.68 correlation means they have sometimes moved together and sometimes differently.
Performance
ODVIX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, ODVIX achieves a 15.60% return, which is significantly higher than ^GSPC's 9.41% return. Over the past 10 years, ODVIX has underperformed ^GSPC with an annualized return of 7.17%, while ^GSPC has yielded a comparatively higher 13.26% annualized return.
ODVIX
- 1D
- 3.15%
- 1M
- 1.47%
- 6M
- 7.27%
- YTD
- 15.60%
- 1Y
- 35.83%
- 3Y*
- 12.15%
- 5Y*
- 3.23%
- 10Y*
- 7.17%
- ALL TIME*
- 6.06%
^GSPC
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $37.98T | $37.61T | $41.48T |
| $0.00 | $0.00 | $0.00 |
ODVIX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ODVIX Invesco Developing Markets Fund Class R6 | 15.60% | 28.84% | -0.98% | 11.55% | -24.85% | -7.17% | 17.66% | 24.58% | -11.78% | 35.33% |
^GSPC S&P 500 Index | 9.41% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between ODVIX and ^GSPC is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011 | 0.68 |
The correlation between ODVIX and ^GSPC has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
ODVIX vs. ^GSPC — Risk / Return Rank
ODVIX
^GSPC
ODVIX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund Class R6 (ODVIX) and S&P 500 Index (^GSPC). 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.
| ODVIX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 2.00 | +0.76 |
| Martin ratioReturn relative to average drawdown | 8.34 | 8.49 | -0.15 |
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Drawdowns
ODVIX vs. ^GSPC - Drawdown Comparison
The maximum ODVIX drawdown since its inception was -45.88%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ODVIX and ^GSPC.
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Drawdown Indicators
| ODVIX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.88% | -56.78% | +10.90% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -9.10% | -2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -18.10% | -18.90% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -41.42% | -25.43% | -15.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.88% | -33.92% | -11.96% |
Current DrawdownCurrent decline from peak | -6.77% | -1.58% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -14.48% | -10.70% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 2.14% | +1.85% |
Volatility
ODVIX vs. ^GSPC - Volatility Comparison
Invesco Developing Markets Fund Class R6 (ODVIX) has a higher volatility of 6.53% compared to S&P 500 Index (^GSPC) at 3.51%. This indicates that ODVIX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ODVIX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.53% | 3.51% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.97% | 10.11% | +6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 12.87% | +6.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 17.01% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 18.07% | +0.01% |
Frequently Asked Questions
ODVIX and ^GSPC have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ODVIX has higher volatility (6.53%) compared to ^GSPC (3.51%). In terms of maximum drawdown, ODVIX dropped -45.88% vs ^GSPC's -56.78%.
ODVIX currently has the higher Sharpe Ratio (1.72 vs 1.42), 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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