OEGAX vs. VADDX

Last updated Aug 5, 2026

OEGAX (Invesco Discovery Mid Cap Growth Fund Class A) and VADDX (Invesco Equally-Weighted S&P 500 Fund) are both mutual funds - OEGAX is a Mid Cap Growth Equities fund actively managed by Invesco, while VADDX is a S&P 500 fund tracking the S&P 500 Equal Weight Index. OEGAX is actively managed, while VADDX is passively managed. Over the past 10 years, OEGAX returned 12.28%/yr vs 11.65%/yr for VADDX. Their correlation of 0.83 means they have usually moved in the same direction. OEGAX charges 1.05%/yr vs 0.27%/yr for VADDX.

Performance

OEGAX vs. VADDX - Performance Comparison

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

Returns By Period

In the year-to-date period, OEGAX achieves a 18.56% return, which is significantly higher than VADDX's 14.22% return. Over the past 10 years, OEGAX has outperformed VADDX with an annualized return of 12.28%, while VADDX has yielded a comparatively lower 11.65% annualized return.

OEGAX

• 1D: 0.95%
• 1M: -2.27%
• 6M: 12.10%
• YTD: 18.56%
• 1Y: 19.46%
• 3Y*: 17.12%
• 5Y*: 4.30%
• 10Y*: 12.28%
• ALL TIME*: 8.54%

VADDX

• 1D: 1.01%
• 1M: 0.99%
• 6M: 10.15%
• YTD: 14.22%
• 1Y: 19.98%
• 3Y*: 14.56%
• 5Y*: 9.02%
• 10Y*: 11.65%
• ALL TIME*: 9.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OEGAX Invesco Discovery Mid Cap Growth Fund Class A	$0.00	$0.00	$0.00
VADDX Invesco Equally-Weighted S&P 500 Fund	$0.00	$0.00	$0.00

OEGAX vs. VADDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OEGAX Invesco Discovery Mid Cap Growth Fund Class A	18.56%	4.85%	24.09%	12.96%	-31.09%	18.44%	40.12%	38.98%	-6.72%	27.95%
VADDX Invesco Equally-Weighted S&P 500 Fund	14.22%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%

Correlation

The correlation between OEGAX and VADDX is 0.51, 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.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Oct 31, 2000	0.83

Over the past year, the correlation between OEGAX and VADDX has dropped to 0.51 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

OEGAX vs. VADDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OEGAX

OEGAX Risk / Return Rank: 33
OEGAX Sharpe Ratio Rank: 25
OEGAX Sortino Ratio Rank: 26
OEGAX Omega Ratio Rank: 25
OEGAX Calmar Ratio Rank: 46
OEGAX Martin Ratio Rank: 41

VADDX

VADDX Risk / Return Rank: 75
VADDX Sharpe Ratio Rank: 75
VADDX Sortino Ratio Rank: 76
VADDX Omega Ratio Rank: 68
VADDX Calmar Ratio Rank: 79
VADDX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OEGAX vs. VADDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Discovery Mid Cap Growth Fund Class A (OEGAX) 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.

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.

	OEGAX	VADDX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.85	-0.82
Sortino ratio: Return per unit of downside risk	1.56	2.68	-1.12
Omega ratio: Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	2.03	2.75	-0.72
Martin ratio: Return relative to average drawdown	6.60	10.63	-4.02

OEGAX vs. VADDX - Sharpe Ratio Comparison

The current OEGAX Sharpe Ratio is 1.03, which is lower than the VADDX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of OEGAX and VADDX, 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

OEGAX vs. VADDX - Drawdown Comparison

The maximum OEGAX drawdown since its inception was -53.73%, smaller than the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for OEGAX and VADDX.

Drawdown Indicators

	OEGAX	VADDX	Difference
Max Drawdown Largest peak-to-trough decline	-53.73%	-60.12%	+6.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-7.88%	-3.94%
Max Drawdown (3Y) Largest decline over 3 years	-28.64%	-17.86%	-10.78%
Max Drawdown (5Y) Largest decline over 5 years	-39.38%	-21.58%	-17.80%
Max Drawdown (10Y) Largest decline over 10 years	-39.38%	-39.39%	+0.01%
Current Drawdown Current decline from peak	-7.62%	-0.24%	-7.38%
Average Drawdown Average peak-to-trough decline	-12.72%	-6.96%	-5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	2.03%	+1.45%

Volatility

OEGAX vs. VADDX - Volatility Comparison

Invesco Discovery Mid Cap Growth Fund Class A (OEGAX) has a higher volatility of 7.16% compared to Invesco Equally-Weighted S&P 500 Fund (VADDX) at 2.96%. This indicates that OEGAX's price experiences larger fluctuations and is considered to be riskier than VADDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OEGAX	VADDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	2.96%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	18.45%	8.61%	+9.84%
Volatility (1Y) Calculated over the trailing 1-year period	23.46%	11.74%	+11.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.62%	16.25%	+6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.31%	18.47%	+3.84%

OEGAX vs. VADDX - Expense Ratio Comparison

OEGAX has a 1.05% expense ratio, which is higher than VADDX's 0.27% expense ratio.

Dividends

OEGAX vs. VADDX - Dividend Comparison

OEGAX's dividend yield for the trailing twelve months is around 7.67%, less than VADDX's 8.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OEGAX Invesco Discovery Mid Cap Growth Fund Class A	7.67%	9.10%	4.95%	0.00%	0.00%	18.94%	3.55%	4.40%	10.54%	9.32%	0.89%	4.27%
VADDX Invesco Equally-Weighted S&P 500 Fund	8.83%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Frequently Asked Questions

Can I hold both OEGAX and VADDX in my portfolio?

OEGAX and VADDX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OEGAX or VADDX?

OEGAX has higher volatility (7.16%) compared to VADDX (2.96%). In terms of maximum drawdown, OEGAX dropped -53.73% vs VADDX's -60.12%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.85 vs 1.03), 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.