SMEAX vs. VAFAX
Compare and contrast key facts about Invesco Small Cap Equity Fund Class A (SMEAX) and Invesco American Franchise Fund Class A (VAFAX).
SMEAX is managed by Invesco. It was launched on Aug 31, 2000. VAFAX is managed by Invesco. It was launched on Jun 23, 2005.
Performance
SMEAX vs. VAFAX - Performance Comparison
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SMEAX vs. VAFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMEAX Invesco Small Cap Equity Fund Class A | -5.14% | 7.84% | 17.80% | 15.95% | -20.62% | 19.62% | 27.25% | 26.05% | -15.42% | 13.59% |
VAFAX Invesco American Franchise Fund Class A | -13.54% | 11.86% | 34.78% | 40.91% | -31.20% | 11.13% | 42.15% | 36.55% | -3.99% | 27.11% |
Returns By Period
In the year-to-date period, SMEAX achieves a -5.14% return, which is significantly higher than VAFAX's -13.54% return. Over the past 10 years, SMEAX has underperformed VAFAX with an annualized return of 8.47%, while VAFAX has yielded a comparatively higher 13.49% annualized return.
SMEAX
- 1D
- -2.22%
- 1M
- -10.78%
- YTD
- -5.14%
- 6M
- -5.53%
- 1Y
- 9.81%
- 3Y*
- 9.72%
- 5Y*
- 3.23%
- 10Y*
- 8.47%
VAFAX
- 1D
- -1.39%
- 1M
- -9.66%
- YTD
- -13.54%
- 6M
- -15.87%
- 1Y
- 11.01%
- 3Y*
- 17.62%
- 5Y*
- 6.56%
- 10Y*
- 13.49%
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SMEAX vs. VAFAX - Expense Ratio Comparison
SMEAX has a 1.22% expense ratio, which is higher than VAFAX's 0.95% expense ratio.
Return for Risk
SMEAX vs. VAFAX — Risk / Return Rank
SMEAX
VAFAX
SMEAX vs. VAFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Small Cap Equity Fund Class A (SMEAX) and Invesco American Franchise Fund Class A (VAFAX). 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.
| SMEAX | VAFAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 0.43 | +0.01 |
Sortino ratioReturn per unit of downside risk | 0.76 | 0.78 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 0.33 | +0.20 |
Martin ratioReturn relative to average drawdown | 1.83 | 1.05 | +0.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMEAX | VAFAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.43 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.29 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.61 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.52 | -0.19 |
Correlation
The correlation between SMEAX and VAFAX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SMEAX vs. VAFAX - Dividend Comparison
SMEAX's dividend yield for the trailing twelve months is around 9.85%, less than VAFAX's 16.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMEAX Invesco Small Cap Equity Fund Class A | 9.85% | 9.34% | 8.09% | 0.40% | 2.95% | 19.02% | 6.03% | 11.18% | 18.53% | 5.38% | 5.38% | 6.51% |
VAFAX Invesco American Franchise Fund Class A | 16.30% | 14.09% | 3.74% | 0.00% | 8.32% | 26.50% | 8.78% | 6.85% | 10.42% | 5.37% | 4.08% | 4.90% |
Drawdowns
SMEAX vs. VAFAX - Drawdown Comparison
The maximum SMEAX drawdown since its inception was -56.69%, which is greater than VAFAX's maximum drawdown of -48.48%. Use the drawdown chart below to compare losses from any high point for SMEAX and VAFAX.
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Drawdown Indicators
| SMEAX | VAFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.69% | -48.48% | -8.21% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -19.27% | +5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -31.42% | -38.86% | +7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -38.86% | -6.15% |
Current DrawdownCurrent decline from peak | -13.43% | -19.27% | +5.84% |
Average DrawdownAverage peak-to-trough decline | -10.47% | -8.16% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 6.12% | -2.10% |
Volatility
SMEAX vs. VAFAX - Volatility Comparison
Invesco Small Cap Equity Fund Class A (SMEAX) has a higher volatility of 8.73% compared to Invesco American Franchise Fund Class A (VAFAX) at 6.79%. This indicates that SMEAX's price experiences larger fluctuations and is considered to be riskier than VAFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEAX | VAFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.73% | 6.79% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 15.04% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.47% | 25.05% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 22.96% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 22.19% | +0.82% |