SMEAX vs. VGK
Compare and contrast key facts about Invesco Small Cap Equity Fund Class A (SMEAX) and Vanguard FTSE Europe ETF (VGK).
SMEAX is managed by Invesco. It was launched on Aug 31, 2000. VGK is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed Europe Index. It was launched on Mar 4, 2005.
Performance
SMEAX vs. VGK - Performance Comparison
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SMEAX vs. VGK - 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% |
VGK Vanguard FTSE Europe ETF | -0.95% | 35.83% | 1.88% | 20.19% | -15.98% | 16.89% | 5.43% | 24.85% | -14.89% | 26.98% |
Returns By Period
In the year-to-date period, SMEAX achieves a -5.14% return, which is significantly lower than VGK's -0.95% return. Over the past 10 years, SMEAX has underperformed VGK with an annualized return of 8.47%, while VGK has yielded a comparatively higher 8.96% 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%
VGK
- 1D
- 3.21%
- 1M
- -8.16%
- YTD
- -0.95%
- 6M
- 4.76%
- 1Y
- 21.14%
- 3Y*
- 14.29%
- 5Y*
- 8.68%
- 10Y*
- 8.96%
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SMEAX vs. VGK - Expense Ratio Comparison
SMEAX has a 1.22% expense ratio, which is higher than VGK's 0.08% expense ratio.
Return for Risk
SMEAX vs. VGK — Risk / Return Rank
SMEAX
VGK
SMEAX vs. VGK - 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 Europe ETF (VGK). 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 | VGK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 1.21 | -0.77 |
Sortino ratioReturn per unit of downside risk | 0.76 | 1.73 | -0.97 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.24 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.54 | 1.64 | -1.10 |
Martin ratioReturn relative to average drawdown | 1.83 | 6.32 | -4.48 |
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 | VGK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.21 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.49 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.48 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.26 | +0.06 |
Correlation
The correlation between SMEAX and VGK is 0.72, 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. VGK - Dividend Comparison
SMEAX's dividend yield for the trailing twelve months is around 9.85%, more than VGK's 3.00% 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% |
VGK Vanguard FTSE Europe ETF | 3.00% | 2.86% | 3.61% | 3.15% | 3.25% | 3.05% | 2.11% | 3.27% | 3.95% | 2.70% | 3.52% | 3.25% |
Drawdowns
SMEAX vs. VGK - Drawdown Comparison
The maximum SMEAX drawdown since its inception was -56.69%, smaller than the maximum VGK drawdown of -63.61%. Use the drawdown chart below to compare losses from any high point for SMEAX and VGK.
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Drawdown Indicators
| SMEAX | VGK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.69% | -63.61% | +6.92% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -12.09% | -1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -31.42% | -32.74% | +1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -45.01% | -37.24% | -7.77% |
Current DrawdownCurrent decline from peak | -13.43% | -8.48% | -4.95% |
Average DrawdownAverage peak-to-trough decline | -10.47% | -13.43% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 3.14% | +0.88% |
Volatility
SMEAX vs. VGK - Volatility Comparison
Invesco Small Cap Equity Fund Class A (SMEAX) has a higher volatility of 8.73% compared to Vanguard FTSE Europe ETF (VGK) at 7.72%. This indicates that SMEAX's price experiences larger fluctuations and is considered to be riskier than VGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEAX | VGK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.73% | 7.72% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 10.96% | +4.79% |
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% | 17.72% | +3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 18.88% | +4.13% |