OPPAX vs. ACWI
OPPAX (Invesco Global Fund) and ACWI (iShares MSCI ACWI ETF) are both Global Equities funds. Over the past 10 years, OPPAX returned 12.33%/yr vs 12.85%/yr for ACWI. Their correlation of 0.93 suggests significant overlap in exposure. OPPAX charges 1.04%/yr vs 0.32%/yr for ACWI.
Performance
OPPAX vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, OPPAX achieves a 9.82% return, which is significantly lower than ACWI's 12.13% return. Both investments have delivered pretty close results over the past 10 years, with OPPAX having a 12.33% annualized return and ACWI not far ahead at 12.85%.
OPPAX
- 1D
- 0.94%
- 1M
- 7.27%
- YTD
- 9.82%
- 6M
- 9.74%
- 1Y
- 23.17%
- 3Y*
- 17.95%
- 5Y*
- 7.40%
- 10Y*
- 12.33%
ACWI
- 1D
- -0.83%
- 1M
- 5.28%
- YTD
- 12.13%
- 6M
- 12.96%
- 1Y
- 29.18%
- 3Y*
- 21.15%
- 5Y*
- 11.28%
- 10Y*
- 12.85%
OPPAX vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OPPAX Invesco Global Fund | 9.82% | 15.20% | 16.16% | 34.18% | -32.18% | 15.23% | 27.64% | 31.58% | -13.65% | 36.25% |
ACWI iShares MSCI ACWI ETF | 12.13% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between OPPAX and ACWI is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008 | 0.93 |
The correlation between OPPAX and ACWI has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
OPPAX vs. ACWI — Risk / Return Rank
OPPAX
ACWI
OPPAX vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Fund (OPPAX) and iShares MSCI ACWI ETF (ACWI). 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.
| OPPAX | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.41 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 3.01 | -1.44 |
| Martin ratioReturn relative to average drawdown | 5.84 | 13.53 | -7.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OPPAX | ACWI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 2.29 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.71 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.75 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.43 | +0.07 |
Drawdowns
OPPAX vs. ACWI - Drawdown Comparison
The maximum OPPAX drawdown since its inception was -60.39%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for OPPAX and ACWI.
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Drawdown Indicators
| OPPAX | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.39% | -56.00% | -4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -16.26% | -9.73% | -6.53% |
Max Drawdown (3Y)Largest decline over 3 years | -21.69% | -16.55% | -5.14% |
Max Drawdown (5Y)Largest decline over 5 years | -41.90% | -26.42% | -15.48% |
Max Drawdown (10Y)Largest decline over 10 years | -41.90% | -33.53% | -8.37% |
Current DrawdownCurrent decline from peak | 0.00% | -0.83% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -15.45% | -8.61% | -6.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 2.16% | +2.03% |
Volatility
OPPAX vs. ACWI - Volatility Comparison
Invesco Global Fund (OPPAX) has a higher volatility of 4.54% compared to iShares MSCI ACWI ETF (ACWI) at 3.93%. This indicates that OPPAX's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPPAX | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.93% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 10.29% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.86% | 12.78% | +4.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 16.05% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.69% | 17.11% | +3.58% |
OPPAX vs. ACWI - Expense Ratio Comparison
OPPAX has a 1.04% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
OPPAX vs. ACWI - Dividend Comparison
OPPAX's dividend yield for the trailing twelve months is around 22.58%, more than ACWI's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.38% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
OPPAX Invesco Global Fund | 22.58% | 24.79% | 11.93% | 10.72% | 14.18% | 7.18% | 5.72% | 1.35% | 12.92% | 5.92% | 0.69% | 5.17% |
Frequently Asked Questions
OPPAX and ACWI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPAX has higher volatility (4.54%) compared to ACWI (3.93%). In terms of maximum drawdown, OPPAX dropped -60.39% vs ACWI's -56.00%.
ACWI currently has the higher Sharpe Ratio (2.29 vs 1.52), 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.
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