OPPAX vs. FXAIX

Last updated Jun 23, 2026

OPPAX (Invesco Global Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - OPPAX is a Global Equities fund managed by Invesco, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, OPPAX returned 12.66%/yr vs 15.58%/yr for FXAIX. Their correlation of 0.90 suggests significant overlap in exposure. OPPAX charges 1.04%/yr vs 0.02%/yr for FXAIX.

Performance

OPPAX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Fund (OPPAX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OPPAX having a 10.72% return and FXAIX slightly lower at 10.19%. Over the past 10 years, OPPAX has underperformed FXAIX with an annualized return of 12.66%, while FXAIX has yielded a comparatively higher 15.58% annualized return.

OPPAX

• 1D: 2.53%
• 1M: 5.38%
• YTD: 10.72%
• 6M: 10.69%
• 1Y: 24.16%
• 3Y*: 17.00%
• 5Y*: 7.20%
• 10Y*: 12.66%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

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

OPPAX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPPAX Invesco Global Fund	10.72%	15.20%	16.16%	34.18%	-32.18%	15.23%	27.64%	31.58%	-13.65%	36.25%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between OPPAX and FXAIX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.90

The correlation between OPPAX and FXAIX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

OPPAX vs. FXAIX — Risk / Return Rank

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

OPPAX

OPPAX Risk / Return Rank: 26
OPPAX Sharpe Ratio Rank: 27
OPPAX Sortino Ratio Rank: 27
OPPAX Omega Ratio Rank: 27
OPPAX Calmar Ratio Rank: 21
OPPAX Martin Ratio Rank: 26

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

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.

OPPAX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Fund (OPPAX) and Fidelity 500 Index Fund (FXAIX). 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.

	OPPAX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.17	-0.77
Sortino ratio: Return per unit of downside risk	2.02	2.93	-0.91
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	1.58	3.04	-1.46
Martin ratio: Return relative to average drawdown	5.79	13.75	-7.95

OPPAX vs. FXAIX - Sharpe Ratio Comparison

The current OPPAX Sharpe Ratio is 1.40, which is lower than the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of OPPAX and FXAIX, 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

OPPAX vs. FXAIX - Drawdown Comparison

The maximum OPPAX drawdown since its inception was -60.39%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for OPPAX and FXAIX.

Drawdown Indicators

	OPPAX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.39%	-33.79%	-26.60%
Max Drawdown (1Y) Largest decline over 1 year	-16.26%	-8.89%	-7.37%
Max Drawdown (3Y) Largest decline over 3 years	-21.69%	-18.76%	-2.93%
Max Drawdown (5Y) Largest decline over 5 years	-41.90%	-24.50%	-17.40%
Max Drawdown (10Y) Largest decline over 10 years	-41.90%	-33.79%	-8.11%
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-15.44%	-3.79%	-11.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	1.96%	+2.27%

Volatility

OPPAX vs. FXAIX - Volatility Comparison

Invesco Global Fund (OPPAX) has a higher volatility of 8.29% compared to Fidelity 500 Index Fund (FXAIX) at 4.77%. This indicates that OPPAX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPPAX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	4.77%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	15.32%	9.91%	+5.41%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	12.47%	+5.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	17.01%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.80%	18.11%	+2.69%

OPPAX vs. FXAIX - Expense Ratio Comparison

OPPAX has a 1.04% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

OPPAX vs. FXAIX - Dividend Comparison

OPPAX's dividend yield for the trailing twelve months is around 22.39%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
OPPAX Invesco Global Fund	22.39%	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

Can I hold both OPPAX and FXAIX in my portfolio?

OPPAX and FXAIX 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.

Which is riskier, OPPAX or FXAIX?

OPPAX has higher volatility (8.29%) compared to FXAIX (4.77%). In terms of maximum drawdown, OPPAX dropped -60.39% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.17 vs 1.40), 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.