OPOCX vs. VBK

Last updated Aug 1, 2026

OPOCX (Invesco Discovery Fund) and VBK (Vanguard Small-Cap Growth ETF) are both Small Cap Growth Equities funds. Over the past 10 years, OPOCX returned 15.03%/yr vs 10.90%/yr for VBK. Their correlation of 0.95 means they have usually moved in the same direction. OPOCX charges 1.01%/yr vs 0.05%/yr for VBK.

Performance

OPOCX vs. VBK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Discovery Fund (OPOCX) 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, OPOCX achieves a 21.34% return, which is significantly higher than VBK's 12.94% return. Over the past 10 years, OPOCX has outperformed VBK with an annualized return of 15.03%, while VBK has yielded a comparatively lower 10.90% annualized return.

OPOCX

• 1D: 4.82%
• 1M: -7.29%
• 6M: 12.94%
• YTD: 21.34%
• 1Y: 38.60%
• 3Y*: 20.84%
• 5Y*: 7.87%
• 10Y*: 15.03%
• ALL TIME*: 11.20%

VBK

• 1D: -0.27%
• 1M: -4.86%
• 6M: 9.06%
• YTD: 12.94%
• 1Y: 23.19%
• 3Y*: 13.33%
• 5Y*: 4.14%
• 10Y*: 10.90%
• ALL TIME*: 9.75%

*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)
OPOCX Invesco Discovery Fund	$0.00	$0.00	$0.00
VBK Vanguard Small-Cap Growth ETF	$67.40M	$71.27M	$83.02M

OPOCX vs. VBK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPOCX Invesco Discovery Fund	21.34%	16.77%	22.61%	17.02%	-31.26%	14.78%	50.33%	36.81%	-4.15%	29.04%
VBK Vanguard Small-Cap Growth ETF	12.94%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	21.87%

Correlation

The correlation between OPOCX and VBK is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.95

The correlation between OPOCX and VBK has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

OPOCX vs. VBK — Risk / Return Rank

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

OPOCX

OPOCX Risk / Return Rank: 54
OPOCX Sharpe Ratio Rank: 46
OPOCX Sortino Ratio Rank: 45
OPOCX Omega Ratio Rank: 42
OPOCX Calmar Ratio Rank: 64
OPOCX Martin Ratio Rank: 74

VBK

VBK Risk / Return Rank: 46
VBK Sharpe Ratio Rank: 42
VBK Sortino Ratio Rank: 42
VBK Omega Ratio Rank: 39
VBK Calmar Ratio Rank: 53
VBK Martin Ratio Rank: 54

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.

OPOCX vs. VBK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Discovery Fund (OPOCX) 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.

	OPOCX	VBK	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.04	+0.22
Sortino ratio: Return per unit of downside risk	1.81	1.55	+0.26
Omega ratio: Gain probability vs. loss probability	1.22	1.18	+0.04
Calmar ratio: Return relative to maximum drawdown	2.10	1.86	+0.24
Martin ratio: Return relative to average drawdown	8.93	6.29	+2.64

OPOCX vs. VBK - Sharpe Ratio Comparison

The current OPOCX Sharpe Ratio is 1.27, which is comparable to the VBK Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of OPOCX 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

OPOCX vs. VBK - Drawdown Comparison

The maximum OPOCX drawdown since its inception was -64.17%, which is greater than VBK's maximum drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for OPOCX and VBK.

Drawdown Indicators

	OPOCX	VBK	Difference
Max Drawdown Largest peak-to-trough decline	-64.17%	-58.68%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-16.69%	-11.44%	-5.25%
Max Drawdown (3Y) Largest decline over 3 years	-28.60%	-27.54%	-1.06%
Max Drawdown (5Y) Largest decline over 5 years	-43.27%	-38.39%	-4.88%
Max Drawdown (10Y) Largest decline over 10 years	-43.27%	-38.70%	-4.57%
Current Drawdown Current decline from peak	-12.67%	-6.90%	-5.77%
Average Drawdown Average peak-to-trough decline	-18.81%	-10.10%	-8.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	3.37%	+0.54%

Volatility

OPOCX vs. VBK - Volatility Comparison

Invesco Discovery Fund (OPOCX) has a higher volatility of 10.43% compared to Vanguard Small-Cap Growth ETF (VBK) at 5.16%. This indicates that OPOCX'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

	OPOCX	VBK	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	5.16%	+5.27%
Volatility (6M) Calculated over the trailing 6-month period	23.10%	15.93%	+7.17%
Volatility (1Y) Calculated over the trailing 1-year period	27.66%	20.39%	+7.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.98%	23.65%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.13%	22.91%	+2.22%

OPOCX vs. VBK - Expense Ratio Comparison

OPOCX has a 1.01% expense ratio, which is higher than VBK's 0.05% expense ratio.

Dividends

OPOCX vs. VBK - Dividend Comparison

OPOCX's dividend yield for the trailing twelve months is around 11.05%, more than VBK's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OPOCX Invesco Discovery Fund	11.05%	13.41%	6.86%	0.00%	0.00%	20.51%	11.22%	6.42%	18.85%	12.46%	4.33%	6.84%
VBK Vanguard Small-Cap Growth ETF	0.45%	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 OPOCX and VBK in my portfolio?

With a correlation of 0.90, OPOCX and VBK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OPOCX or VBK?

OPOCX has higher volatility (10.43%) compared to VBK (5.16%). In terms of maximum drawdown, OPOCX dropped -64.17% vs VBK's -58.68%.

Which has better risk-adjusted returns?

OPOCX currently has the higher Sharpe Ratio (1.27 vs 1.04), 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.