SSCPX vs. ODIIX

Last updated Jun 4, 2026

SSCPX (Saratoga Small Capitalization Portfolio) and ODIIX (Invesco Discovery Fund Class R6) are both Small Cap Growth Equities funds. Over the past 10 years, SSCPX returned 11.22%/yr vs 16.99%/yr for ODIIX. Their correlation of 0.88 suggests significant overlap in exposure. SSCPX charges 1.70%/yr vs 0.65%/yr for ODIIX.

Performance

SSCPX vs. ODIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Small Capitalization Portfolio (SSCPX) and Invesco Discovery Fund Class R6 (ODIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSCPX achieves a 21.31% return, which is significantly lower than ODIIX's 31.17% return. Over the past 10 years, SSCPX has underperformed ODIIX with an annualized return of 11.22%, while ODIIX has yielded a comparatively higher 16.99% annualized return.

SSCPX

• 1D: 1.22%
• 1M: 5.06%
• YTD: 21.31%
• 6M: 19.23%
• 1Y: 34.86%
• 3Y*: 17.90%
• 5Y*: 7.91%
• 10Y*: 11.22%

ODIIX

• 1D: 2.40%
• 1M: 5.95%
• YTD: 31.17%
• 6M: 31.62%
• 1Y: 56.74%
• 3Y*: 27.32%
• 5Y*: 11.28%
• 10Y*: 16.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SSCPX vs. ODIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSCPX Saratoga Small Capitalization Portfolio	21.31%	6.41%	10.79%	15.16%	-17.56%	24.53%	25.39%	23.71%	-16.14%	15.58%
ODIIX Invesco Discovery Fund Class R6	31.17%	17.14%	23.04%	17.46%	-31.00%	15.37%	50.87%	37.36%	-3.68%	29.58%

Correlation

The correlation between SSCPX and ODIIX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 30, 2012	0.88

The correlation between SSCPX and ODIIX shifts across timeframes, from 0.78 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SSCPX vs. ODIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSCPX

SSCPX Risk / Return Rank: 47
SSCPX Sharpe Ratio Rank: 40
SSCPX Sortino Ratio Rank: 39
SSCPX Omega Ratio Rank: 35
SSCPX Calmar Ratio Rank: 67
SSCPX Martin Ratio Rank: 53

ODIIX

ODIIX Risk / Return Rank: 80
ODIIX Sharpe Ratio Rank: 81
ODIIX Sortino Ratio Rank: 69
ODIIX Omega Ratio Rank: 62
ODIIX Calmar Ratio Rank: 95
ODIIX Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SSCPX vs. ODIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Small Capitalization Portfolio (SSCPX) and Invesco Discovery Fund Class R6 (ODIIX). 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.

	SSCPX	ODIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.63	-0.77
Sortino ratio: Return per unit of downside risk	2.60	3.46	-0.86
Omega ratio: Gain probability vs. loss probability	1.32	1.44	-0.12
Calmar ratio: Return relative to maximum drawdown	3.16	5.84	-2.68
Martin ratio: Return relative to average drawdown	10.76	23.17	-12.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSCPX vs. ODIIX - Sharpe Ratio Comparison

The current SSCPX Sharpe Ratio is 1.86, which is comparable to the ODIIX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of SSCPX and ODIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SSCPX	ODIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.63	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.45	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.69	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.67	-0.28

Drawdowns

SSCPX vs. ODIIX - Drawdown Comparison

The maximum SSCPX drawdown since its inception was -53.65%, which is greater than ODIIX's maximum drawdown of -43.06%. Use the drawdown chart below to compare losses from any high point for SSCPX and ODIIX.

Drawdown Indicators

	SSCPX	ODIIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.65%	-43.06%	-10.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-11.36%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-27.78%	-28.52%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-27.78%	-43.06%	+15.28%
Max Drawdown (10Y) Largest decline over 10 years	-43.59%	-43.06%	-0.53%
Current Drawdown Current decline from peak	0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-10.25%	-10.16%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	2.74%	+0.64%

Volatility

SSCPX vs. ODIIX - Volatility Comparison

The current volatility for Saratoga Small Capitalization Portfolio (SSCPX) is 5.77%, while Invesco Discovery Fund Class R6 (ODIIX) has a volatility of 7.84%. This indicates that SSCPX experiences smaller price fluctuations and is considered to be less risky than ODIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSCPX	ODIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	7.84%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	14.57%	21.48%	-6.91%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	25.23%	-5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.17%	25.54%	-3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	24.92%	-1.93%

SSCPX vs. ODIIX - Expense Ratio Comparison

SSCPX has a 1.70% expense ratio, which is higher than ODIIX's 0.65% expense ratio.

Dividends

SSCPX vs. ODIIX - Dividend Comparison

SSCPX's dividend yield for the trailing twelve months is around 7.43%, less than ODIIX's 7.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODIIX Invesco Discovery Fund Class R6	7.58%	9.94%	5.27%	0.00%	0.00%	16.15%	9.22%	5.40%	16.05%	10.90%	3.86%	6.15%
SSCPX Saratoga Small Capitalization Portfolio	7.43%	9.02%	11.37%	0.00%	10.18%	24.67%	0.02%	0.00%	17.42%	0.00%	0.00%	58.90%

Frequently Asked Questions

Can I hold both SSCPX and ODIIX in my portfolio?

SSCPX and ODIIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSCPX or ODIIX?

ODIIX has higher volatility (7.84%) compared to SSCPX (5.77%). In terms of maximum drawdown, SSCPX dropped -53.65% vs ODIIX's -43.06%.

Which has better risk-adjusted returns?

ODIIX currently has the higher Sharpe Ratio (2.63 vs 1.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.