SMEAX vs. CAMSX
SMEAX (Invesco Small Cap Equity Fund Class A) and CAMSX (Cambiar Small Cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, SMEAX returned 10.20%/yr vs 9.14%/yr for CAMSX. Their correlation of 0.93 means they have usually moved in the same direction. SMEAX charges 1.22%/yr vs 1.10%/yr for CAMSX.
Performance
SMEAX vs. CAMSX - Performance Comparison
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Returns By Period
In the year-to-date period, SMEAX achieves a 14.24% return, which is significantly lower than CAMSX's 19.93% return. Over the past 10 years, SMEAX has outperformed CAMSX with an annualized return of 10.20%, while CAMSX has yielded a comparatively lower 9.14% annualized return.
SMEAX
- 1D
- 2.75%
- 1M
- -4.69%
- 6M
- 9.45%
- YTD
- 14.24%
- 1Y
- 20.55%
- 3Y*
- 14.00%
- 5Y*
- 6.35%
- 10Y*
- 10.20%
- ALL TIME*
- 8.08%
CAMSX
- 1D
- 0.00%
- 1M
- -0.21%
- 6M
- 14.01%
- YTD
- 19.93%
- 1Y
- 29.89%
- 3Y*
- 11.96%
- 5Y*
- 7.48%
- 10Y*
- 9.14%
- ALL TIME*
- 9.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SMEAX vs. CAMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMEAX Invesco Small Cap Equity Fund Class A | 14.24% | 7.84% | 17.80% | 15.95% | -20.62% | 19.62% | 27.25% | 26.05% | -15.42% | 13.59% |
CAMSX Cambiar Small Cap Fund | 19.93% | 8.91% | 6.01% | 12.12% | -8.70% | 17.24% | 9.52% | 29.01% | -12.51% | 4.01% |
Correlation
The correlation between SMEAX and CAMSX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2004 | 0.93 |
The correlation between SMEAX and CAMSX shifts across timeframes, from 0.82 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMEAX vs. CAMSX — Risk / Return Rank
SMEAX
CAMSX
SMEAX vs. CAMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Small Cap Equity Fund Class A (SMEAX) and Cambiar Small Cap Fund (CAMSX). 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.
| SMEAX | CAMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.28 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 2.56 | -1.24 |
| Martin ratioReturn relative to average drawdown | 4.33 | 8.28 | -3.95 |
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Drawdowns
SMEAX vs. CAMSX - Drawdown Comparison
The maximum SMEAX drawdown since its inception was -56.69%, roughly equal to the maximum CAMSX drawdown of -58.43%. Use the drawdown chart below to compare losses from any high point for SMEAX and CAMSX.
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Drawdown Indicators
| SMEAX | CAMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.69% | -58.43% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -10.44% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -24.61% | -22.14% | -2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -31.42% | -22.14% | -9.28% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -41.99% | -3.02% |
Current DrawdownCurrent decline from peak | -9.02% | -1.54% | -7.48% |
Average DrawdownAverage peak-to-trough decline | -10.37% | -8.78% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 3.23% | +0.85% |
Volatility
SMEAX vs. CAMSX - Volatility Comparison
Invesco Small Cap Equity Fund Class A (SMEAX) has a higher volatility of 7.22% compared to Cambiar Small Cap Fund (CAMSX) at 3.43%. This indicates that SMEAX's price experiences larger fluctuations and is considered to be riskier than CAMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEAX | CAMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.22% | 3.43% | +3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 18.17% | 12.04% | +6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.29% | 16.77% | +5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.92% | 18.71% | +3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.21% | 20.64% | +2.57% |
SMEAX vs. CAMSX - Expense Ratio Comparison
SMEAX has a 1.22% expense ratio, which is higher than CAMSX's 1.10% expense ratio.
Dividends
SMEAX vs. CAMSX - Dividend Comparison
SMEAX's dividend yield for the trailing twelve months is around 8.18%, less than CAMSX's 8.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAMSX Cambiar Small Cap Fund | 8.84% | 10.60% | 3.52% | 1.35% | 0.48% | 32.84% | 0.34% | 4.82% | 24.24% | 4.61% | 0.00% | 8.66% |
SMEAX Invesco Small Cap Equity Fund Class A | 8.18% | 9.34% | 8.09% | 0.40% | 2.95% | 19.02% | 6.03% | 11.18% | 18.53% | 5.38% | 5.38% | 6.51% |
Frequently Asked Questions
SMEAX and CAMSX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMEAX has higher volatility (7.22%) compared to CAMSX (3.43%). In terms of maximum drawdown, SMEAX dropped -56.69% vs CAMSX's -58.43%.
CAMSX currently has the higher Sharpe Ratio (1.60 vs 0.79), 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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