OEGAX vs. VBK

Last updated Jun 23, 2026

OEGAX (Invesco Discovery Mid Cap Growth Fund Class A) and VBK (Vanguard Small-Cap Growth ETF) are both funds - OEGAX is a Mid Cap Growth Equities fund actively managed by Invesco, while VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index. OEGAX is actively managed, while VBK is passively managed. Over the past 10 years, OEGAX returned 13.54%/yr vs 12.20%/yr for VBK. Their correlation of 0.92 suggests significant overlap in exposure. OEGAX charges 1.05%/yr vs 0.05%/yr for VBK.

Performance

OEGAX vs. VBK - 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 Vanguard Small-Cap Growth ETF (VBK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OEGAX achieves a 26.40% return, which is significantly higher than VBK's 18.61% return. Over the past 10 years, OEGAX has outperformed VBK with an annualized return of 13.54%, while VBK has yielded a comparatively lower 12.20% annualized return.

OEGAX

• 1D: 1.46%
• 1M: 3.69%
• YTD: 26.40%
• 6M: 23.20%
• 1Y: 32.06%
• 3Y*: 19.97%
• 5Y*: 7.60%
• 10Y*: 13.54%

VBK

• 1D: 0.39%
• 1M: 3.11%
• YTD: 18.61%
• 6M: 15.14%
• 1Y: 33.39%
• 3Y*: 18.20%
• 5Y*: 5.09%
• 10Y*: 12.20%

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

OEGAX vs. VBK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OEGAX Invesco Discovery Mid Cap Growth Fund Class A	26.40%	4.85%	24.09%	12.96%	-31.09%	18.44%	40.12%	38.98%	-6.72%	27.95%
VBK Vanguard Small-Cap Growth ETF	18.61%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	21.87%

Correlation

The correlation between OEGAX and VBK is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.92

The correlation between OEGAX and VBK shifts across timeframes, from 0.76 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OEGAX vs. VBK — Risk / Return Rank

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

OEGAX

OEGAX Risk / Return Rank: 52
OEGAX Sharpe Ratio Rank: 38
OEGAX Sortino Ratio Rank: 36
OEGAX Omega Ratio Rank: 35
OEGAX Calmar Ratio Rank: 81
OEGAX Martin Ratio Rank: 71

VBK

VBK Risk / Return Rank: 53
VBK Sharpe Ratio Rank: 50
VBK Sortino Ratio Rank: 48
VBK Omega Ratio Rank: 45
VBK Calmar Ratio Rank: 61
VBK Martin Ratio Rank: 63

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.

OEGAX vs. VBK - 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 Vanguard Small-Cap Growth ETF (VBK). 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	VBK	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.67	-0.03
Sortino ratio: Return per unit of downside risk	2.34	2.30	+0.03
Omega ratio: Gain probability vs. loss probability	1.29	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	3.56	2.93	+0.63
Martin ratio: Return relative to average drawdown	12.68	10.98	+1.71

OEGAX vs. VBK - Sharpe Ratio Comparison

The current OEGAX Sharpe Ratio is 1.65, which is comparable to the VBK Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of OEGAX and VBK, 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. VBK - Drawdown Comparison

The maximum OEGAX drawdown since its inception was -53.73%, smaller than the maximum VBK drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for OEGAX and VBK.

Drawdown Indicators

	OEGAX	VBK	Difference
Max Drawdown Largest peak-to-trough decline	-53.73%	-58.68%	+4.95%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-11.44%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-28.64%	-27.54%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-39.38%	-38.39%	-0.99%
Max Drawdown (10Y) Largest decline over 10 years	-39.38%	-38.70%	-0.68%
Current Drawdown Current decline from peak	-0.67%	-0.05%	-0.62%
Average Drawdown Average peak-to-trough decline	-12.76%	-10.14%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	3.05%	-0.32%

Volatility

OEGAX vs. VBK - Volatility Comparison

Invesco Discovery Mid Cap Growth Fund Class A (OEGAX) has a higher volatility of 7.72% compared to Vanguard Small-Cap Growth ETF (VBK) at 6.94%. This indicates that OEGAX's price experiences larger fluctuations and is considered to be riskier than VBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OEGAX	VBK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	6.94%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	17.80%	15.58%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	21.92%	20.07%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.37%	23.62%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.19%	22.94%	-0.75%

OEGAX vs. VBK - Expense Ratio Comparison

OEGAX has a 1.05% expense ratio, which is higher than VBK's 0.05% expense ratio.

Dividends

OEGAX vs. VBK - Dividend Comparison

OEGAX's dividend yield for the trailing twelve months is around 7.20%, more than VBK's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OEGAX Invesco Discovery Mid Cap Growth Fund Class A	7.20%	9.10%	4.95%	0.00%	0.00%	18.94%	3.55%	4.40%	10.54%	9.32%	0.89%	4.27%
VBK Vanguard Small-Cap Growth ETF	0.44%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both OEGAX and VBK in my portfolio?

OEGAX and VBK have a correlation of 0.76, 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 VBK?

OEGAX has higher volatility (7.72%) compared to VBK (6.94%). In terms of maximum drawdown, OEGAX dropped -53.73% vs VBK's -58.68%.

Which has better risk-adjusted returns?

VBK currently has the higher Sharpe Ratio (1.67 vs 1.65), 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.