OPTFX vs. ANFFX

Last updated Jun 5, 2026

OPTFX (Invesco Capital Appreciation Fund) and ANFFX (American Funds The New Economy Fund Class F-1) are both Large Cap Growth Equities funds. Over the past 10 years, OPTFX returned 15.73%/yr vs 16.24%/yr for ANFFX. Their correlation of 0.93 suggests significant overlap in exposure. OPTFX charges 0.95%/yr vs 0.78%/yr for ANFFX.

Performance

OPTFX vs. ANFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Capital Appreciation Fund (OPTFX) and American Funds The New Economy Fund Class F-1 (ANFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPTFX achieves a 10.57% return, which is significantly lower than ANFFX's 22.02% return. Both investments have delivered pretty close results over the past 10 years, with OPTFX having a 15.73% annualized return and ANFFX not far ahead at 16.24%.

OPTFX

• 1D: -0.58%
• 1M: 4.30%
• YTD: 10.57%
• 6M: 9.78%
• 1Y: 23.89%
• 3Y*: 23.72%
• 5Y*: 12.07%
• 10Y*: 15.73%

ANFFX

• 1D: -0.68%
• 1M: 8.89%
• YTD: 22.02%
• 6M: 24.29%
• 1Y: 52.54%
• 3Y*: 30.34%
• 5Y*: 13.90%
• 10Y*: 16.24%

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

OPTFX vs. ANFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPTFX Invesco Capital Appreciation Fund	10.57%	12.84%	34.05%	35.51%	-31.10%	21.42%	36.33%	36.22%	-5.96%	26.50%
ANFFX American Funds The New Economy Fund Class F-1	22.02%	30.96%	23.52%	29.10%	-29.69%	11.98%	33.43%	26.38%	-4.41%	34.27%

Correlation

The correlation between OPTFX and ANFFX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 16, 2001	0.93

The correlation between OPTFX and ANFFX shifts across timeframes, from 0.80 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OPTFX vs. ANFFX — Risk / Return Rank

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

OPTFX

OPTFX Risk / Return Rank: 23
OPTFX Sharpe Ratio Rank: 26
OPTFX Sortino Ratio Rank: 24
OPTFX Omega Ratio Rank: 24
OPTFX Calmar Ratio Rank: 20
OPTFX Martin Ratio Rank: 21

ANFFX

ANFFX Risk / Return Rank: 86
ANFFX Sharpe Ratio Rank: 92
ANFFX Sortino Ratio Rank: 83
ANFFX Omega Ratio Rank: 81
ANFFX Calmar Ratio Rank: 85
ANFFX Martin Ratio Rank: 91

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.

OPTFX vs. ANFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Capital Appreciation Fund (OPTFX) and American Funds The New Economy Fund Class F-1 (ANFFX). 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.

	OPTFX	ANFFX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	3.13	-1.68
Sortino ratio: Return per unit of downside risk	2.06	3.95	-1.88
Omega ratio: Gain probability vs. loss probability	1.26	1.53	-0.28
Calmar ratio: Return relative to maximum drawdown	1.64	4.03	-2.39
Martin ratio: Return relative to average drawdown	5.26	18.04	-12.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OPTFX vs. ANFFX - Sharpe Ratio Comparison

The current OPTFX Sharpe Ratio is 1.45, which is lower than the ANFFX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of OPTFX and ANFFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OPTFX	ANFFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	3.13	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.72	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.85	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.53	-0.02

Drawdowns

OPTFX vs. ANFFX - Drawdown Comparison

The maximum OPTFX drawdown since its inception was -57.95%, roughly equal to the maximum ANFFX drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for OPTFX and ANFFX.

Drawdown Indicators

	OPTFX	ANFFX	Difference
Max Drawdown Largest peak-to-trough decline	-57.95%	-55.37%	-2.58%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-13.36%	-3.49%
Max Drawdown (3Y) Largest decline over 3 years	-26.46%	-20.81%	-5.65%
Max Drawdown (5Y) Largest decline over 5 years	-35.89%	-37.10%	+1.21%
Max Drawdown (10Y) Largest decline over 10 years	-35.89%	-37.10%	+1.21%
Current Drawdown Current decline from peak	-0.58%	-0.68%	+0.10%
Average Drawdown Average peak-to-trough decline	-13.99%	-11.36%	-2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	2.98%	+2.01%

Volatility

OPTFX vs. ANFFX - Volatility Comparison

Invesco Capital Appreciation Fund (OPTFX) and American Funds The New Economy Fund Class F-1 (ANFFX) have volatilities of 5.28% and 5.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPTFX	ANFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	5.40%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	13.69%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	17.20%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.27%	19.39%	+2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	19.11%	+2.35%

OPTFX vs. ANFFX - Expense Ratio Comparison

OPTFX has a 0.95% expense ratio, which is higher than ANFFX's 0.78% expense ratio.

Dividends

OPTFX vs. ANFFX - Dividend Comparison

OPTFX's dividend yield for the trailing twelve months is around 9.88%, more than ANFFX's 8.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANFFX American Funds The New Economy Fund Class F-1	8.11%	9.90%	9.56%	3.89%	0.00%	7.53%	2.45%	7.26%	9.84%	8.19%	2.13%	6.07%
OPTFX Invesco Capital Appreciation Fund	9.88%	10.93%	2.92%	0.00%	0.88%	28.43%	3.20%	23.53%	9.18%	9.34%	4.29%	13.78%

Frequently Asked Questions

Can I hold both OPTFX and ANFFX in my portfolio?

OPTFX and ANFFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPTFX or ANFFX?

ANFFX has higher volatility (5.40%) compared to OPTFX (5.28%). In terms of maximum drawdown, OPTFX dropped -57.95% vs ANFFX's -55.37%.

Which has better risk-adjusted returns?

ANFFX currently has the higher Sharpe Ratio (3.13 vs 1.45), 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.