SPIAX vs. VVOAX
Compare and contrast key facts about Invesco S&P 500 Index A (SPIAX) and Invesco Value Opportunities Fund (VVOAX).
SPIAX is a passively managed fund by Invesco that tracks the performance of the S&P 500. It was launched on Sep 26, 1997. VVOAX is managed by Invesco. It was launched on Jun 25, 2001.
Performance
SPIAX vs. VVOAX - Performance Comparison
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SPIAX vs. VVOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | -4.46% | 17.23% | 24.34% | 25.63% | -18.56% | 27.99% | 17.84% | 30.78% | -4.97% | 21.13% |
VVOAX Invesco Value Opportunities Fund | 5.98% | 20.24% | 30.01% | 15.20% | 1.33% | 35.60% | 5.49% | 29.84% | -19.92% | 17.07% |
Returns By Period
In the year-to-date period, SPIAX achieves a -4.46% return, which is significantly lower than VVOAX's 5.98% return. Over the past 10 years, SPIAX has underperformed VVOAX with an annualized return of 13.46%, while VVOAX has yielded a comparatively higher 14.64% annualized return.
SPIAX
- 1D
- 2.93%
- 1M
- -5.07%
- YTD
- -4.46%
- 6M
- -2.37%
- 1Y
- 16.74%
- 3Y*
- 17.69%
- 5Y*
- 11.20%
- 10Y*
- 13.46%
VVOAX
- 1D
- 2.69%
- 1M
- -6.69%
- YTD
- 5.98%
- 6M
- 11.47%
- 1Y
- 34.05%
- 3Y*
- 25.74%
- 5Y*
- 16.70%
- 10Y*
- 14.64%
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SPIAX vs. VVOAX - Expense Ratio Comparison
SPIAX has a 0.54% expense ratio, which is lower than VVOAX's 1.22% expense ratio.
Return for Risk
SPIAX vs. VVOAX — Risk / Return Rank
SPIAX
VVOAX
SPIAX vs. VVOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Index A (SPIAX) and Invesco Value Opportunities Fund (VVOAX). 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 | VVOAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 1.51 | -0.56 |
Sortino ratioReturn per unit of downside risk | 1.45 | 2.04 | -0.59 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.28 | 2.09 | -0.81 |
Martin ratioReturn relative to average drawdown | 6.10 | 8.91 | -2.81 |
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 | VVOAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.51 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.80 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.61 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.38 | +0.05 |
Correlation
The correlation between SPIAX and VVOAX is 0.86, 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. VVOAX - Dividend Comparison
SPIAX's dividend yield for the trailing twelve months is around 1.06%, less than VVOAX's 9.84% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIAX Invesco S&P 500 Index A | 1.06% | 1.01% | 1.08% | 1.04% | 1.07% | 1.90% | 1.26% | 1.93% | 2.59% | 1.28% | 1.28% | 1.53% |
VVOAX Invesco Value Opportunities Fund | 9.84% | 10.43% | 7.79% | 2.27% | 9.79% | 8.82% | 0.25% | 1.95% | 15.44% | 5.11% | 1.10% | 15.87% |
Drawdowns
SPIAX vs. VVOAX - Drawdown Comparison
The maximum SPIAX drawdown since its inception was -55.47%, smaller than the maximum VVOAX drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for SPIAX and VVOAX.
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Drawdown Indicators
| SPIAX | VVOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.47% | -62.08% | +6.61% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | -15.08% | +2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -24.81% | -24.05% | -0.76% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -51.80% | +17.96% |
Current DrawdownCurrent decline from peak | -6.31% | -6.76% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -10.84% | -11.80% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 3.54% | -1.00% |
Volatility
SPIAX vs. VVOAX - Volatility Comparison
The current volatility for Invesco S&P 500 Index A (SPIAX) is 5.35%, while Invesco Value Opportunities Fund (VVOAX) has a volatility of 7.27%. This indicates that SPIAX experiences smaller price fluctuations and is considered to be less risky than VVOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPIAX | VVOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 7.27% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 9.54% | 14.27% | -4.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.36% | 22.91% | -4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 21.06% | -4.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 24.20% | -6.13% |