SPIAX vs. VSCAX
Compare and contrast key facts about Invesco S&P 500 Index A (SPIAX) and Invesco Small Cap Value Fund (VSCAX).
SPIAX is a passively managed fund by Invesco that tracks the performance of the S&P 500. It was launched on Sep 26, 1997. VSCAX is managed by Invesco. It was launched on Jun 21, 1999.
Performance
SPIAX vs. VSCAX - Performance Comparison
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SPIAX vs. VSCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | -7.17% | 17.23% | 24.34% | 25.63% | -18.56% | 27.99% | 17.84% | 30.78% | -4.97% | 21.13% |
VSCAX Invesco Small Cap Value Fund | 9.80% | 17.70% | 24.54% | 22.84% | 4.31% | 36.34% | 10.81% | 32.02% | -25.64% | 18.17% |
Returns By Period
In the year-to-date period, SPIAX achieves a -7.17% return, which is significantly lower than VSCAX's 9.80% return. Over the past 10 years, SPIAX has underperformed VSCAX with an annualized return of 13.13%, while VSCAX has yielded a comparatively higher 15.67% annualized return.
SPIAX
- 1D
- -0.39%
- 1M
- -7.71%
- YTD
- -7.17%
- 6M
- -4.82%
- 1Y
- 13.84%
- 3Y*
- 16.56%
- 5Y*
- 10.82%
- 10Y*
- 13.13%
VSCAX
- 1D
- 3.04%
- 1M
- -8.74%
- YTD
- 9.80%
- 6M
- 16.19%
- 1Y
- 37.48%
- 3Y*
- 25.63%
- 5Y*
- 17.58%
- 10Y*
- 15.67%
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SPIAX vs. VSCAX - Expense Ratio Comparison
SPIAX has a 0.54% expense ratio, which is lower than VSCAX's 1.12% expense ratio.
Return for Risk
SPIAX vs. VSCAX — Risk / Return Rank
SPIAX
VSCAX
SPIAX vs. VSCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Index A (SPIAX) and Invesco Small Cap Value Fund (VSCAX). 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.
| SPIAX | VSCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 1.46 | -0.65 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.99 | -0.73 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.03 | -1.08 |
Martin ratioReturn relative to average drawdown | 4.59 | 7.77 | -3.18 |
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
| SPIAX | VSCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 1.46 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.76 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.59 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.52 | -0.09 |
Correlation
The correlation between SPIAX and VSCAX is 0.82, 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
SPIAX vs. VSCAX - Dividend Comparison
SPIAX's dividend yield for the trailing twelve months is around 1.09%, less than VSCAX's 8.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | 1.09% | 1.01% | 1.08% | 1.04% | 1.07% | 1.90% | 1.26% | 1.93% | 2.59% | 1.28% | 1.28% | 1.53% |
VSCAX Invesco Small Cap Value Fund | 8.40% | 9.22% | 7.90% | 4.93% | 10.12% | 16.90% | 0.30% | 2.53% | 28.45% | 16.65% | 1.71% | 11.08% |
Drawdowns
SPIAX vs. VSCAX - Drawdown Comparison
The maximum SPIAX drawdown since its inception was -55.47%, roughly equal to the maximum VSCAX drawdown of -57.77%. Use the drawdown chart below to compare losses from any high point for SPIAX and VSCAX.
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Drawdown Indicators
| SPIAX | VSCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.47% | -57.77% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | -16.56% | +4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -24.81% | -25.29% | +0.48% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -57.77% | +23.93% |
Current DrawdownCurrent decline from peak | -8.97% | -8.74% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -8.94% | -1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 4.32% | -1.74% |
Volatility
SPIAX vs. VSCAX - Volatility Comparison
The current volatility for Invesco S&P 500 Index A (SPIAX) is 4.25%, while Invesco Small Cap Value Fund (VSCAX) has a volatility of 8.82%. This indicates that SPIAX experiences smaller price fluctuations and is considered to be less risky than VSCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIAX | VSCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 8.82% | -4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 16.86% | -7.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.17% | 25.88% | -7.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 23.16% | -6.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 26.72% | -8.67% |