SMMIX vs. VAFAX
Compare and contrast key facts about Invesco Summit Fund (SMMIX) and Invesco American Franchise Fund Class A (VAFAX).
SMMIX is managed by Invesco. It was launched on Nov 1, 1982. VAFAX is managed by Invesco. It was launched on Jun 23, 2005.
Performance
SMMIX vs. VAFAX - Performance Comparison
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SMMIX vs. VAFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMMIX Invesco Summit Fund | -8.21% | 11.08% | 34.36% | 36.82% | -33.12% | 10.71% | 42.22% | 38.69% | -3.04% | 29.88% |
VAFAX Invesco American Franchise Fund Class A | -8.48% | 11.86% | 34.78% | 40.91% | -31.20% | 11.13% | 42.15% | 36.55% | -3.99% | 27.11% |
Returns By Period
The year-to-date returns for both stocks are quite close, with SMMIX having a -8.21% return and VAFAX slightly lower at -8.48%. Both investments have delivered pretty close results over the past 10 years, with SMMIX having a 13.93% annualized return and VAFAX not far ahead at 14.14%.
SMMIX
- 1D
- 1.42%
- 1M
- -2.55%
- YTD
- -8.21%
- 6M
- -11.48%
- 1Y
- 16.49%
- 3Y*
- 18.80%
- 5Y*
- 5.76%
- 10Y*
- 13.93%
VAFAX
- 1D
- 1.35%
- 1M
- -3.03%
- YTD
- -8.48%
- 6M
- -11.19%
- 1Y
- 14.90%
- 3Y*
- 19.87%
- 5Y*
- 7.35%
- 10Y*
- 14.14%
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SMMIX vs. VAFAX - Expense Ratio Comparison
SMMIX has a 0.84% expense ratio, which is lower than VAFAX's 0.95% expense ratio.
Return for Risk
SMMIX vs. VAFAX — Risk / Return Rank
SMMIX
VAFAX
SMMIX vs. VAFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Summit Fund (SMMIX) 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.
| SMMIX | VAFAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | 0.64 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.13 | 1.07 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.94 | 0.89 | +0.05 |
Martin ratioReturn relative to average drawdown | 2.85 | 2.76 | +0.09 |
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
| SMMIX | VAFAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 0.64 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.32 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.64 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.53 | -0.05 |
Correlation
The correlation between SMMIX and VAFAX is 0.95, 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
SMMIX vs. VAFAX - Dividend Comparison
SMMIX's dividend yield for the trailing twelve months is around 16.10%, more than VAFAX's 15.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMIX Invesco Summit Fund | 16.10% | 14.78% | 2.01% | 0.00% | 10.02% | 20.10% | 6.46% | 8.44% | 12.16% | 3.77% | 6.28% | 6.88% |
VAFAX Invesco American Franchise Fund Class A | 15.40% | 14.09% | 3.74% | 0.00% | 8.32% | 26.50% | 8.78% | 6.85% | 10.42% | 5.37% | 4.08% | 4.90% |
Drawdowns
SMMIX vs. VAFAX - Drawdown Comparison
The maximum SMMIX drawdown since its inception was -69.64%, which is greater than VAFAX's maximum drawdown of -48.48%. Use the drawdown chart below to compare losses from any high point for SMMIX and VAFAX.
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Drawdown Indicators
| SMMIX | VAFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.64% | -48.48% | -21.16% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -19.27% | -0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -40.62% | -38.86% | -1.76% |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | -38.86% | -1.76% |
Current DrawdownCurrent decline from peak | -14.99% | -14.55% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -19.33% | -8.16% | -11.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.57% | 6.21% | +0.36% |
Volatility
SMMIX vs. VAFAX - Volatility Comparison
Invesco Summit Fund (SMMIX) has a higher volatility of 8.75% compared to Invesco American Franchise Fund Class A (VAFAX) at 8.33%. This indicates that SMMIX'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
| SMMIX | VAFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.75% | 8.33% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 16.49% | 15.73% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.23% | 25.42% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.00% | 23.03% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.81% | 22.23% | +0.58% |