OEGYX vs. ACEIX

Last updated Jun 24, 2026

OEGYX (Invesco Discovery Mid Cap Growth Fund) and ACEIX (Invesco Equity and Income Fund) are both mutual funds - OEGYX is a Mid Cap Growth Equities fund managed by Invesco, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, OEGYX returned 14.25%/yr vs 9.18%/yr for ACEIX. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.78% expense ratio.

Performance

OEGYX vs. ACEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Discovery Mid Cap Growth Fund (OEGYX) and Invesco Equity and Income Fund (ACEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OEGYX achieves a 28.52% return, which is significantly higher than ACEIX's 6.11% return. Over the past 10 years, OEGYX has outperformed ACEIX with an annualized return of 14.25%, while ACEIX has yielded a comparatively lower 9.18% annualized return.

OEGYX

• 1D: 1.54%
• 1M: 5.32%
• YTD: 28.52%
• 6M: 25.54%
• 1Y: 33.06%
• 3Y*: 21.37%
• 5Y*: 7.65%
• 10Y*: 14.25%

ACEIX

• 1D: -0.51%
• 1M: -0.00%
• YTD: 6.11%
• 6M: 5.34%
• 1Y: 15.09%
• 3Y*: 13.23%
• 5Y*: 7.32%
• 10Y*: 9.18%

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

OEGYX vs. ACEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OEGYX Invesco Discovery Mid Cap Growth Fund	28.52%	5.08%	24.38%	13.24%	-30.92%	18.76%	40.53%	39.33%	-6.50%	28.34%
ACEIX Invesco Equity and Income Fund	6.11%	12.85%	11.77%	10.08%	-7.75%	18.02%	9.96%	19.17%	-9.74%	10.86%

Correlation

The correlation between OEGYX and ACEIX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Oct 31, 2000	0.77

The correlation between OEGYX and ACEIX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

OEGYX vs. ACEIX — Risk / Return Rank

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

OEGYX

OEGYX Risk / Return Rank: 50
OEGYX Sharpe Ratio Rank: 36
OEGYX Sortino Ratio Rank: 33
OEGYX Omega Ratio Rank: 33
OEGYX Calmar Ratio Rank: 80
OEGYX Martin Ratio Rank: 67

ACEIX

ACEIX Risk / Return Rank: 57
ACEIX Sharpe Ratio Rank: 52
ACEIX Sortino Ratio Rank: 53
ACEIX Omega Ratio Rank: 49
ACEIX Calmar Ratio Rank: 64
ACEIX Martin Ratio Rank: 66

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.

OEGYX vs. ACEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Discovery Mid Cap Growth Fund (OEGYX) and Invesco Equity and Income Fund (ACEIX). 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.

	OEGYX	ACEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.93	-0.30
Sortino ratio: Return per unit of downside risk	2.23	2.77	-0.54
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.07
Calmar ratio: Return relative to maximum drawdown	3.43	2.91	+0.52
Martin ratio: Return relative to average drawdown	12.21	11.93	+0.27

OEGYX vs. ACEIX - Sharpe Ratio Comparison

The current OEGYX Sharpe Ratio is 1.63, which is comparable to the ACEIX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of OEGYX and ACEIX, 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

OEGYX vs. ACEIX - Drawdown Comparison

The maximum OEGYX drawdown since its inception was -53.44%, which is greater than ACEIX's maximum drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for OEGYX and ACEIX.

Drawdown Indicators

	OEGYX	ACEIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.44%	-40.08%	-13.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-5.50%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-12.40%	-16.18%
Max Drawdown (5Y) Largest decline over 5 years	-39.25%	-16.73%	-22.52%
Max Drawdown (10Y) Largest decline over 10 years	-39.25%	-30.80%	-8.45%
Current Drawdown Current decline from peak	0.00%	-1.28%	+1.28%
Average Drawdown Average peak-to-trough decline	-12.48%	-4.60%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	1.33%	+1.50%

Volatility

OEGYX vs. ACEIX - Volatility Comparison

Invesco Discovery Mid Cap Growth Fund (OEGYX) has a higher volatility of 7.62% compared to Invesco Equity and Income Fund (ACEIX) at 2.74%. This indicates that OEGYX's price experiences larger fluctuations and is considered to be riskier than ACEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OEGYX	ACEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	2.74%	+4.88%
Volatility (6M) Calculated over the trailing 6-month period	17.60%	6.38%	+11.22%
Volatility (1Y) Calculated over the trailing 1-year period	21.34%	8.27%	+13.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.28%	11.12%	+11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.14%	12.80%	+9.34%

OEGYX vs. ACEIX - Expense Ratio Comparison

Both OEGYX and ACEIX have an expense ratio of 0.78%.

Dividends

OEGYX vs. ACEIX - Dividend Comparison

OEGYX's dividend yield for the trailing twelve months is around 5.80%, less than ACEIX's 6.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACEIX Invesco Equity and Income Fund	6.50%	6.87%	8.28%	6.91%	6.65%	13.74%	2.94%	5.53%	8.91%	6.73%	3.94%	5.17%
OEGYX Invesco Discovery Mid Cap Growth Fund	5.80%	7.45%	4.13%	0.00%	0.00%	16.02%	3.08%	3.85%	9.31%	8.34%	0.81%	3.88%

Frequently Asked Questions

Can I hold both OEGYX and ACEIX in my portfolio?

OEGYX and ACEIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OEGYX or ACEIX?

OEGYX has higher volatility (7.62%) compared to ACEIX (2.74%). In terms of maximum drawdown, OEGYX dropped -53.44% vs ACEIX's -40.08%.

Which has better risk-adjusted returns?

ACEIX currently has the higher Sharpe Ratio (1.93 vs 1.63), 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.