SMEAX vs. VEA
Compare and contrast key facts about Invesco Small Cap Equity Fund Class A (SMEAX) and Vanguard FTSE Developed Markets ETF (VEA).
SMEAX is managed by Invesco. It was launched on Aug 31, 2000. VEA is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed All Cap ex US Index. It was launched on Jul 20, 2007.
Performance
SMEAX vs. VEA - Performance Comparison
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SMEAX vs. VEA - 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% |
VEA Vanguard FTSE Developed Markets ETF | 2.75% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
Returns By Period
In the year-to-date period, SMEAX achieves a -5.14% return, which is significantly lower than VEA's 2.75% return. Over the past 10 years, SMEAX has underperformed VEA with an annualized return of 8.47%, while VEA has yielded a comparatively higher 9.37% 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%
VEA
- 1D
- 3.30%
- 1M
- -8.61%
- YTD
- 2.75%
- 6M
- 8.94%
- 1Y
- 30.06%
- 3Y*
- 16.07%
- 5Y*
- 8.57%
- 10Y*
- 9.37%
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SMEAX vs. VEA - Expense Ratio Comparison
SMEAX has a 1.22% expense ratio, which is higher than VEA's 0.03% expense ratio.
Return for Risk
SMEAX vs. VEA — Risk / Return Rank
SMEAX
VEA
SMEAX vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Small Cap Equity Fund Class A (SMEAX) and Vanguard FTSE Developed Markets ETF (VEA). 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 | VEA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 1.72 | -1.28 |
Sortino ratioReturn per unit of downside risk | 0.76 | 2.35 | -1.59 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.35 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 2.50 | -1.96 |
Martin ratioReturn relative to average drawdown | 1.83 | 9.82 | -7.98 |
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 | VEA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.72 | -1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.53 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.54 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.22 | +0.11 |
Correlation
The correlation between SMEAX and VEA is 0.76, 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. VEA - Dividend Comparison
SMEAX's dividend yield for the trailing twelve months is around 9.85%, more than VEA's 2.93% 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% |
VEA Vanguard FTSE Developed Markets ETF | 2.93% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Drawdowns
SMEAX vs. VEA - Drawdown Comparison
The maximum SMEAX drawdown since its inception was -56.69%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for SMEAX and VEA.
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Drawdown Indicators
| SMEAX | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.69% | -60.68% | +3.99% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -11.63% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -31.42% | -29.71% | -1.71% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -35.73% | -9.28% |
Current DrawdownCurrent decline from peak | -13.43% | -8.71% | -4.72% |
Average DrawdownAverage peak-to-trough decline | -10.47% | -13.40% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 2.96% | +1.06% |
Volatility
SMEAX vs. VEA - Volatility Comparison
Invesco Small Cap Equity Fund Class A (SMEAX) and Vanguard FTSE Developed Markets ETF (VEA) have volatilities of 8.73% and 8.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEAX | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.73% | 8.41% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 11.57% | +4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.47% | 17.62% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 16.30% | +5.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 17.26% | +5.75% |