PIYFX vs. CONWX

Last updated Aug 1, 2026

PIYFX (Invesco Multi-Asset Income Fund) and CONWX (Concorde Wealth Management Fund) are both Diversified Portfolio funds. Over the past 10 years, PIYFX returned 3.51%/yr vs 8.13%/yr for CONWX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. PIYFX charges 0.59%/yr vs 1.41%/yr for CONWX.

Performance

PIYFX vs. CONWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Multi-Asset Income Fund (PIYFX) and Concorde Wealth Management Fund (CONWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIYFX achieves a 4.45% return, which is significantly lower than CONWX's 7.66% return. Over the past 10 years, PIYFX has underperformed CONWX with an annualized return of 3.51%, while CONWX has yielded a comparatively higher 8.13% annualized return.

PIYFX

• 1D: 0.62%
• 1M: -0.78%
• 6M: 2.87%
• YTD: 4.45%
• 1Y: 10.27%
• 3Y*: 8.21%
• 5Y*: 2.94%
• 10Y*: 3.51%
• ALL TIME*: 4.69%

CONWX

• 1D: 0.19%
• 1M: 0.73%
• 6M: 3.04%
• YTD: 7.66%
• 1Y: 16.33%
• 3Y*: 11.21%
• 5Y*: 6.58%
• 10Y*: 8.13%
• ALL TIME*: 8.52%

*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)
CONWX Concorde Wealth Management Fund	$0.00	$0.00	$0.00
PIYFX Invesco Multi-Asset Income Fund	$0.00	$0.00	$0.00

PIYFX vs. CONWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PIYFX Invesco Multi-Asset Income Fund	4.45%	10.87%	6.92%	10.87%	-16.93%	6.17%	-4.31%	16.33%	-4.96%	10.99%
CONWX Concorde Wealth Management Fund	7.66%	11.95%	13.58%	0.20%	-2.51%	19.73%	8.76%	16.84%	-1.95%	7.17%

Correlation

The correlation between PIYFX and CONWX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.60

Over the past year, the correlation between PIYFX and CONWX has dropped to 0.34 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

Return for Risk

PIYFX vs. CONWX — Risk / Return Rank

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

PIYFX

PIYFX Risk / Return Rank: 55
PIYFX Sharpe Ratio Rank: 58
PIYFX Sortino Ratio Rank: 59
PIYFX Omega Ratio Rank: 59
PIYFX Calmar Ratio Rank: 45
PIYFX Martin Ratio Rank: 55

CONWX

CONWX Risk / Return Rank: 83
CONWX Sharpe Ratio Rank: 87
CONWX Sortino Ratio Rank: 87
CONWX Omega Ratio Rank: 82
CONWX Calmar Ratio Rank: 91
CONWX Martin Ratio Rank: 67

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.

PIYFX vs. CONWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Multi-Asset Income Fund (PIYFX) and Concorde Wealth Management Fund (CONWX). 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.

	PIYFX	CONWX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.15	-0.65
Sortino ratio: Return per unit of downside risk	2.16	3.15	-0.99
Omega ratio: Gain probability vs. loss probability	1.28	1.38	-0.10
Calmar ratio: Return relative to maximum drawdown	1.82	3.43	-1.61
Martin ratio: Return relative to average drawdown	7.58	8.32	-0.74

PIYFX vs. CONWX - Sharpe Ratio Comparison

The current PIYFX Sharpe Ratio is 1.50, which is lower than the CONWX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of PIYFX and CONWX, 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

PIYFX vs. CONWX - Drawdown Comparison

The maximum PIYFX drawdown since its inception was -30.39%, which is greater than CONWX's maximum drawdown of -26.09%. Use the drawdown chart below to compare losses from any high point for PIYFX and CONWX.

Drawdown Indicators

	PIYFX	CONWX	Difference
Max Drawdown Largest peak-to-trough decline	-30.39%	-26.09%	-4.30%
Max Drawdown (1Y) Largest decline over 1 year	-5.49%	-4.44%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-7.30%	-9.86%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.01%	-12.49%	-7.52%
Max Drawdown (10Y) Largest decline over 10 years	-30.39%	-26.09%	-4.30%
Current Drawdown Current decline from peak	-1.14%	-2.50%	+1.36%
Average Drawdown Average peak-to-trough decline	-4.05%	-2.79%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	1.83%	-0.52%

Volatility

PIYFX vs. CONWX - Volatility Comparison

The current volatility for Invesco Multi-Asset Income Fund (PIYFX) is 1.67%, while Concorde Wealth Management Fund (CONWX) has a volatility of 1.88%. This indicates that PIYFX experiences smaller price fluctuations and is considered to be less risky than CONWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIYFX	CONWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	1.88%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	5.51%	5.07%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	6.66%	7.07%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	10.15%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.53%	10.99%	-2.46%

PIYFX vs. CONWX - Expense Ratio Comparison

PIYFX has a 0.59% expense ratio, which is lower than CONWX's 1.41% expense ratio.

Dividends

PIYFX vs. CONWX - Dividend Comparison

PIYFX's dividend yield for the trailing twelve months is around 6.51%, more than CONWX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CONWX Concorde Wealth Management Fund	3.43%	3.69%	10.55%	2.16%	7.85%	3.63%	3.86%	2.16%	5.09%	2.48%	0.00%	0.00%
PIYFX Invesco Multi-Asset Income Fund	6.51%	6.14%	6.90%	7.07%	7.35%	6.21%	6.04%	5.13%	5.74%	5.82%	4.94%	5.37%

Frequently Asked Questions

Can I hold both PIYFX and CONWX in my portfolio?

PIYFX and CONWX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIYFX or CONWX?

CONWX has higher volatility (1.88%) compared to PIYFX (1.67%). In terms of maximum drawdown, PIYFX dropped -30.39% vs CONWX's -26.09%.

Which has better risk-adjusted returns?

CONWX currently has the higher Sharpe Ratio (2.15 vs 1.50), 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.