OPTFX vs. OARDX

Last updated Jun 5, 2026

OPTFX (Invesco Capital Appreciation Fund) and OARDX (Invesco Rising Dividends Fund) are both mutual funds - OPTFX is a Large Cap Growth Equities fund managed by Invesco, while OARDX is a Large Cap Blend Equities fund managed by Invesco. Over the past 10 years, OPTFX returned 15.73%/yr vs 12.56%/yr for OARDX. Their correlation of 0.81 suggests significant overlap in exposure. OPTFX charges 0.95%/yr vs 1.00%/yr for OARDX.

Performance

OPTFX vs. OARDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Capital Appreciation Fund (OPTFX) and Invesco Rising Dividends Fund (OARDX). 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 higher than OARDX's 6.05% return. Over the past 10 years, OPTFX has outperformed OARDX with an annualized return of 15.73%, while OARDX has yielded a comparatively lower 12.56% annualized return.

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%

OARDX

• 1D: -0.39%
• 1M: 2.47%
• YTD: 6.05%
• 6M: 5.79%
• 1Y: 20.41%
• 3Y*: 17.26%
• 5Y*: 11.81%
• 10Y*: 12.56%

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

OPTFX vs. OARDX - 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%
OARDX Invesco Rising Dividends Fund	6.05%	17.43%	19.40%	17.73%	-12.68%	26.52%	13.34%	29.59%	-6.55%	17.48%

Correlation

The correlation between OPTFX and OARDX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 8, 1981	0.81

The correlation between OPTFX and OARDX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

OPTFX vs. OARDX — 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

OARDX

OARDX Risk / Return Rank: 49
OARDX Sharpe Ratio Rank: 50
OARDX Sortino Ratio Rank: 55
OARDX Omega Ratio Rank: 49
OARDX Calmar Ratio Rank: 40
OARDX Martin Ratio Rank: 51

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. OARDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Capital Appreciation Fund (OPTFX) and Invesco Rising Dividends Fund (OARDX). 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	OARDX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.06	-0.61
Sortino ratio: Return per unit of downside risk	2.06	3.09	-1.02
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	1.64	2.37	-0.73
Martin ratio: Return relative to average drawdown	5.26	10.35	-5.09
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. OARDX - Sharpe Ratio Comparison

The current OPTFX Sharpe Ratio is 1.45, which is comparable to the OARDX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of OPTFX and OARDX, 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	OARDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.06	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.72	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.70	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.07	+0.44

Drawdowns

OPTFX vs. OARDX - Drawdown Comparison

The maximum OPTFX drawdown since its inception was -57.95%, smaller than the maximum OARDX drawdown of -69.57%. Use the drawdown chart below to compare losses from any high point for OPTFX and OARDX.

Drawdown Indicators

	OPTFX	OARDX	Difference
Max Drawdown Largest peak-to-trough decline	-57.95%	-69.57%	+11.62%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-9.60%	-7.25%
Max Drawdown (3Y) Largest decline over 3 years	-26.46%	-23.45%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.89%	-23.45%	-12.44%
Max Drawdown (10Y) Largest decline over 10 years	-35.89%	-36.69%	+0.80%
Current Drawdown Current decline from peak	-0.58%	-0.39%	-0.19%
Average Drawdown Average peak-to-trough decline	-13.99%	-16.46%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	2.11%	+2.88%

Volatility

OPTFX vs. OARDX - Volatility Comparison

Invesco Capital Appreciation Fund (OPTFX) has a higher volatility of 5.28% compared to Invesco Rising Dividends Fund (OARDX) at 2.73%. This indicates that OPTFX's price experiences larger fluctuations and is considered to be riskier than OARDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPTFX	OARDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	2.73%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	8.94%	+6.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	11.05%	+7.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.27%	16.80%	+5.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	18.21%	+3.25%

OPTFX vs. OARDX - Expense Ratio Comparison

OPTFX has a 0.95% expense ratio, which is lower than OARDX's 1.00% expense ratio.

Dividends

OPTFX vs. OARDX - Dividend Comparison

OPTFX's dividend yield for the trailing twelve months is around 9.88%, more than OARDX's 7.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OARDX Invesco Rising Dividends Fund	7.59%	8.07%	12.72%	7.63%	6.04%	12.60%	2.49%	4.06%	9.13%	10.38%	6.04%	7.42%
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 OARDX in my portfolio?

OPTFX and OARDX have a correlation of 0.81, 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 OARDX?

OPTFX has higher volatility (5.28%) compared to OARDX (2.73%). In terms of maximum drawdown, OPTFX dropped -57.95% vs OARDX's -69.57%.

Which has better risk-adjusted returns?

OARDX currently has the higher Sharpe Ratio (2.06 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.