VADAX vs. ACEIX

Last updated Aug 4, 2026

VADAX (Invesco Equally-Weighted S&P 500 Fund Class A) and ACEIX (Invesco Equity and Income Fund) are both mutual funds - VADAX is a Large Cap Blend Equities fund tracking the S&P 500 Equal Weight Index, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, VADAX returned 11.45%/yr vs 8.92%/yr for ACEIX. Their correlation of 0.94 means they have usually moved in the same direction. VADAX charges 0.53%/yr vs 0.78%/yr for ACEIX.

Performance

VADAX vs. ACEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) and Invesco Equity and Income Fund (ACEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VADAX achieves a 12.90% return, which is significantly higher than ACEIX's 7.85% return. Over the past 10 years, VADAX has outperformed ACEIX with an annualized return of 11.45%, while ACEIX has yielded a comparatively lower 8.92% annualized return.

VADAX

• 1D: -0.18%
• 1M: -0.05%
• 6M: 8.68%
• YTD: 12.90%
• 1Y: 19.95%
• 3Y*: 13.16%
• 5Y*: 8.48%
• 10Y*: 11.45%
• ALL TIME*: 9.18%

ACEIX

• 1D: 0.69%
• 1M: 0.86%
• 6M: 4.80%
• YTD: 7.85%
• 1Y: 15.80%
• 3Y*: 12.24%
• 5Y*: 7.56%
• 10Y*: 8.92%
• ALL TIME*: 8.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACEIX Invesco Equity and Income Fund	$0.00	$0.00	$0.00
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	$0.00	$0.00	$0.00

VADAX vs. ACEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	12.90%	10.89%	12.40%	13.29%	-12.07%	28.93%	12.30%	28.59%	-8.19%	18.26%
ACEIX Invesco Equity and Income Fund	7.85%	12.85%	11.77%	10.08%	-7.75%	18.02%	9.96%	19.17%	-9.74%	10.86%

Correlation

The correlation between VADAX and ACEIX is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Jul 28, 1997	0.94

The correlation between VADAX and ACEIX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

VADAX vs. ACEIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VADAX

VADAX Risk / Return Rank: 65
VADAX Sharpe Ratio Rank: 62
VADAX Sortino Ratio Rank: 64
VADAX Omega Ratio Rank: 57
VADAX Calmar Ratio Rank: 70
VADAX Martin Ratio Rank: 70

ACEIX

ACEIX Risk / Return Rank: 76
ACEIX Sharpe Ratio Rank: 74
ACEIX Sortino Ratio Rank: 72
ACEIX Omega Ratio Rank: 71
ACEIX Calmar Ratio Rank: 79
ACEIX Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VADAX vs. ACEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) and Invesco Equity and Income Fund (ACEIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VADAX	ACEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.79	-0.18
Sortino ratio: Return per unit of downside risk	2.34	2.54	-0.20
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.38	2.70	-0.32
Martin ratio: Return relative to average drawdown	9.20	11.20	-2.00

VADAX vs. ACEIX - Sharpe Ratio Comparison

The current VADAX Sharpe Ratio is 1.61, which is comparable to the ACEIX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of VADAX and ACEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VADAX vs. ACEIX - Drawdown Comparison

The maximum VADAX drawdown since its inception was -60.27%, which is greater than ACEIX's maximum drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for VADAX and ACEIX.

Drawdown Indicators

	VADAX	ACEIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.27%	-40.08%	-20.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-5.50%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.92%	-12.40%	-5.52%
Max Drawdown (5Y) Largest decline over 5 years	-21.74%	-16.73%	-5.01%
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	-30.80%	-8.52%
Current Drawdown Current decline from peak	-1.24%	0.00%	-1.24%
Average Drawdown Average peak-to-trough decline	-7.06%	-4.59%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.33%	+0.72%

Volatility

VADAX vs. ACEIX - Volatility Comparison

Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) has a higher volatility of 2.88% compared to Invesco Equity and Income Fund (ACEIX) at 2.28%. This indicates that VADAX's price experiences larger fluctuations and is considered to be riskier than ACEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VADAX	ACEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	2.28%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	6.28%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	8.34%	+3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	11.06%	+5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.45%	12.76%	+5.69%

VADAX vs. ACEIX - Expense Ratio Comparison

VADAX has a 0.53% expense ratio, which is lower than ACEIX's 0.78% expense ratio.

Dividends

VADAX vs. ACEIX - Dividend Comparison

VADAX's dividend yield for the trailing twelve months is around 9.04%, more than ACEIX's 6.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACEIX Invesco Equity and Income Fund	6.43%	6.87%	8.28%	6.91%	6.65%	13.74%	2.94%	5.53%	8.91%	6.73%	3.94%	5.17%
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.04%	10.21%	8.77%	4.69%	8.49%	9.80%	6.21%	4.49%	6.90%	2.76%	0.30%	2.77%

Frequently Asked Questions

Can I hold both VADAX and ACEIX in my portfolio?

VADAX and ACEIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VADAX or ACEIX?

VADAX has higher volatility (2.88%) compared to ACEIX (2.28%). In terms of maximum drawdown, VADAX dropped -60.27% vs ACEIX's -40.08%.

Which has better risk-adjusted returns?

ACEIX currently has the higher Sharpe Ratio (1.79 vs 1.61), 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.