QVOPX vs. OPGSX
QVOPX (Invesco Fundamental Alternatives Fund) and OPGSX (Invesco Gold & Special Minerals Fund) are both mutual funds - QVOPX is a Multistrategy fund managed by Invesco, while OPGSX is a Gold fund managed by Invesco. Over the past 10 years, QVOPX returned 1.21%/yr vs 13.51%/yr for OPGSX. At a 0.21 correlation, their price movements are largely independent. QVOPX charges 1.33%/yr vs 1.05%/yr for OPGSX.
Performance
QVOPX vs. OPGSX - Performance Comparison
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Returns By Period
In the year-to-date period, QVOPX achieves a 0.24% return, which is significantly higher than OPGSX's -3.25% return. Over the past 10 years, QVOPX has underperformed OPGSX with an annualized return of 1.21%, while OPGSX has yielded a comparatively higher 13.51% annualized return.
QVOPX
- 1D
- 0.28%
- 1M
- -0.08%
- YTD
- 0.24%
- 6M
- 0.73%
- 1Y
- 4.86%
- 3Y*
- 3.01%
- 5Y*
- 0.66%
- 10Y*
- 1.21%
OPGSX
- 1D
- -1.04%
- 1M
- -3.98%
- YTD
- -3.25%
- 6M
- -7.32%
- 1Y
- 51.63%
- 3Y*
- 37.36%
- 5Y*
- 16.92%
- 10Y*
- 13.51%
QVOPX vs. OPGSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QVOPX Invesco Fundamental Alternatives Fund | 0.24% | 0.38% | 5.71% | 3.55% | -7.28% | 2.49% | 1.46% | 6.58% | -2.09% | 1.28% |
OPGSX Invesco Gold & Special Minerals Fund | -3.25% | 131.03% | 13.05% | 6.35% | -16.86% | -2.75% | 36.15% | 46.37% | -13.15% | 17.17% |
Correlation
The correlation between QVOPX and OPGSX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1988 | 0.21 |
The correlation between QVOPX and OPGSX shifts across timeframes, from 0.21 (all time) to 0.37 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
QVOPX vs. OPGSX — Risk / Return Rank
QVOPX
OPGSX
QVOPX vs. OPGSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Fundamental Alternatives Fund (QVOPX) and Invesco Gold & Special Minerals Fund (OPGSX). 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.
| QVOPX | OPGSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.75 | -0.72 |
| Martin ratioReturn relative to average drawdown | 2.15 | 4.66 | -2.51 |
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Drawdowns
QVOPX vs. OPGSX - Drawdown Comparison
The maximum QVOPX drawdown since its inception was -30.55%, smaller than the maximum OPGSX drawdown of -80.04%. Use the drawdown chart below to compare losses from any high point for QVOPX and OPGSX.
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Drawdown Indicators
| QVOPX | OPGSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.55% | -80.04% | +49.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.46% | -34.52% | +29.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.67% | -34.52% | +27.85% |
Max Drawdown (5Y)Largest decline over 5 years | -9.71% | -47.09% | +37.38% |
Max Drawdown (10Y)Largest decline over 10 years | -9.71% | -47.09% | +37.38% |
Current DrawdownCurrent decline from peak | -4.92% | -27.42% | +22.50% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -29.29% | +24.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 12.44% | -9.86% |
Volatility
QVOPX vs. OPGSX - Volatility Comparison
The current volatility for Invesco Fundamental Alternatives Fund (QVOPX) is 0.96%, while Invesco Gold & Special Minerals Fund (OPGSX) has a volatility of 15.38%. This indicates that QVOPX experiences smaller price fluctuations and is considered to be less risky than OPGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QVOPX | OPGSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 15.38% | -14.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.81% | 37.04% | -31.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.88% | 45.20% | -38.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 33.96% | -29.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.34% | 33.11% | -28.77% |
QVOPX vs. OPGSX - Expense Ratio Comparison
QVOPX has a 1.33% expense ratio, which is higher than OPGSX's 1.05% expense ratio.
Dividends
QVOPX vs. OPGSX - Dividend Comparison
QVOPX's dividend yield for the trailing twelve months is around 0.74%, more than OPGSX's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPGSX Invesco Gold & Special Minerals Fund | 0.44% | 0.43% | 0.86% | 0.81% | 0.45% | 3.56% | 1.55% | 0.29% | 0.00% | 2.78% | 7.21% | 0.00% |
QVOPX Invesco Fundamental Alternatives Fund | 0.74% | 0.74% | 2.10% | 4.62% | 2.55% | 2.87% | 1.90% | 2.01% | 1.77% | 1.59% | 0.26% | 0.53% |
Frequently Asked Questions
QVOPX and OPGSX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPGSX has higher volatility (15.38%) compared to QVOPX (0.96%). In terms of maximum drawdown, QVOPX dropped -30.55% vs OPGSX's -80.04%.
OPGSX currently has the higher Sharpe Ratio (1.34 vs 0.81), 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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