ODVIX vs. VVOAX

Last updated Jun 24, 2026

ODVIX (Invesco Developing Markets Fund Class R6) and VVOAX (Invesco Value Opportunities Fund) are both mutual funds - ODVIX is a Emerging Markets Equities fund managed by Invesco, while VVOAX is a Mid Cap Value Equities fund managed by Invesco. Over the past 10 years, ODVIX returned 8.35%/yr vs 17.31%/yr for VVOAX. A 0.65 correlation means they provide meaningful diversification when combined. ODVIX charges 0.88%/yr vs 1.22%/yr for VVOAX.

Performance

ODVIX vs. VVOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Developing Markets Fund Class R6 (ODVIX) and Invesco Value Opportunities Fund (VVOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ODVIX achieves a 19.69% return, which is significantly lower than VVOAX's 24.13% return. Over the past 10 years, ODVIX has underperformed VVOAX with an annualized return of 8.35%, while VVOAX has yielded a comparatively higher 17.31% annualized return.

ODVIX

• 1D: -0.54%
• 1M: 3.88%
• YTD: 19.69%
• 6M: 20.47%
• 1Y: 42.35%
• 3Y*: 15.56%
• 5Y*: 2.38%
• 10Y*: 8.35%

VVOAX

• 1D: 1.32%
• 1M: 5.02%
• YTD: 24.13%
• 6M: 22.31%
• 1Y: 48.22%
• 3Y*: 31.57%
• 5Y*: 19.46%
• 10Y*: 17.31%

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

ODVIX vs. VVOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODVIX Invesco Developing Markets Fund Class R6	19.69%	28.84%	-0.98%	11.55%	-24.85%	-7.17%	17.66%	24.58%	-11.78%	35.33%
VVOAX Invesco Value Opportunities Fund	24.13%	20.24%	30.01%	15.20%	1.33%	35.60%	5.49%	29.84%	-19.92%	17.07%

Correlation

The correlation between ODVIX and VVOAX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011	0.65

The correlation between ODVIX and VVOAX has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.

Return for Risk

ODVIX vs. VVOAX — Risk / Return Rank

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

ODVIX

ODVIX Risk / Return Rank: 75
ODVIX Sharpe Ratio Rank: 78
ODVIX Sortino Ratio Rank: 65
ODVIX Omega Ratio Rank: 75
ODVIX Calmar Ratio Rank: 82
ODVIX Martin Ratio Rank: 75

VVOAX

VVOAX Risk / Return Rank: 85
VVOAX Sharpe Ratio Rank: 86
VVOAX Sortino Ratio Rank: 74
VVOAX Omega Ratio Rank: 74
VVOAX Calmar Ratio Rank: 95
VVOAX Martin Ratio Rank: 93

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.

ODVIX vs. VVOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund Class R6 (ODVIX) and Invesco Value Opportunities Fund (VVOAX). 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	VVOAX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.58	-0.21
Sortino ratio: Return per unit of downside risk	3.07	3.28	-0.20
Omega ratio: Gain probability vs. loss probability	1.44	1.44	0.00
Calmar ratio: Return relative to maximum drawdown	3.57	5.36	-1.78
Martin ratio: Return relative to average drawdown	13.25	18.49	-5.25

ODVIX vs. VVOAX - Sharpe Ratio Comparison

The current ODVIX Sharpe Ratio is 2.37, which is comparable to the VVOAX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of ODVIX and VVOAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ODVIX vs. VVOAX - Drawdown Comparison

The maximum ODVIX drawdown since its inception was -45.88%, smaller than the maximum VVOAX drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for ODVIX and VVOAX.

Drawdown Indicators

	ODVIX	VVOAX	Difference
Max Drawdown Largest peak-to-trough decline	-45.88%	-62.08%	+16.20%
Max Drawdown (1Y) Largest decline over 1 year	-12.05%	-9.21%	-2.84%
Max Drawdown (3Y) Largest decline over 3 years	-18.10%	-24.05%	+5.95%
Max Drawdown (5Y) Largest decline over 5 years	-44.24%	-24.05%	-20.19%
Max Drawdown (10Y) Largest decline over 10 years	-45.88%	-51.80%	+5.92%
Current Drawdown Current decline from peak	-3.47%	-0.65%	-2.82%
Average Drawdown Average peak-to-trough decline	-14.53%	-11.71%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.66%	+0.58%

Volatility

ODVIX vs. VVOAX - Volatility Comparison

Invesco Developing Markets Fund Class R6 (ODVIX) and Invesco Value Opportunities Fund (VVOAX) have volatilities of 9.02% and 8.67%, 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

	ODVIX	VVOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.02%	8.67%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	15.68%	15.14%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	19.12%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	21.31%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	24.27%	-6.25%

ODVIX vs. VVOAX - Expense Ratio Comparison

ODVIX has a 0.88% expense ratio, which is lower than VVOAX's 1.22% expense ratio.

Dividends

ODVIX vs. VVOAX - Dividend Comparison

ODVIX's dividend yield for the trailing twelve months is around 36.47%, more than VVOAX's 8.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODVIX Invesco Developing Markets Fund Class R6	36.47%	43.65%	0.42%	0.95%	1.18%	5.56%	0.35%	2.61%	0.80%	0.73%	0.72%	0.99%
VVOAX Invesco Value Opportunities Fund	8.40%	10.43%	7.79%	2.27%	9.79%	8.82%	0.25%	1.95%	15.44%	5.11%	1.10%	15.87%

Frequently Asked Questions

Can I hold both ODVIX and VVOAX in my portfolio?

ODVIX and VVOAX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODVIX or VVOAX?

ODVIX has higher volatility (9.02%) compared to VVOAX (8.67%). In terms of maximum drawdown, ODVIX dropped -45.88% vs VVOAX's -62.08%.

Which has better risk-adjusted returns?

VVOAX currently has the higher Sharpe Ratio (2.58 vs 2.37), 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.