VADAX vs. ACEIX

Last updated Jun 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 managed by Invesco, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, VADAX returned 11.40%/yr vs 8.87%/yr for ACEIX. Their correlation of 0.94 suggests significant overlap in exposure. VADAX charges 0.52%/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 9.93% return, which is significantly higher than ACEIX's 6.02% return. Over the past 10 years, VADAX has outperformed ACEIX with an annualized return of 11.40%, while ACEIX has yielded a comparatively lower 8.87% annualized return.

VADAX

• 1D: 0.34%
• 1M: 4.12%
• YTD: 9.93%
• 6M: 10.39%
• 1Y: 19.53%
• 3Y*: 14.98%
• 5Y*: 8.13%
• 10Y*: 11.40%

ACEIX

• 1D: 0.61%
• 1M: 1.13%
• YTD: 6.02%
• 6M: 7.12%
• 1Y: 17.83%
• 3Y*: 13.49%
• 5Y*: 7.05%
• 10Y*: 8.87%

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

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	9.93%	10.89%	12.40%	13.29%	-12.07%	28.93%	12.30%	28.59%	-8.19%	18.26%
ACEIX Invesco Equity and Income Fund	6.02%	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 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 29, 1997	0.94

The correlation between VADAX and ACEIX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

VADAX vs. ACEIX — Risk / Return Rank

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

VADAX

VADAX Risk / Return Rank: 41
VADAX Sharpe Ratio Rank: 38
VADAX Sortino Ratio Rank: 38
VADAX Omega Ratio Rank: 35
VADAX Calmar Ratio Rank: 47
VADAX Martin Ratio Rank: 48

ACEIX

ACEIX Risk / Return Rank: 67
ACEIX Sharpe Ratio Rank: 64
ACEIX Sortino Ratio Rank: 64
ACEIX Omega Ratio Rank: 59
ACEIX Calmar Ratio Rank: 75
ACEIX Martin Ratio Rank: 75

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.

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.

	VADAX	ACEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.34	-0.56
Sortino ratio: Return per unit of downside risk	2.58	3.35	-0.77
Omega ratio: Gain probability vs. loss probability	1.31	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	2.62	3.42	-0.79
Martin ratio: Return relative to average drawdown	9.91	14.15	-4.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VADAX vs. ACEIX - Sharpe Ratio Comparison

The current VADAX Sharpe Ratio is 1.78, which is comparable to the ACEIX Sharpe Ratio of 2.34. 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.

Sharpe Ratios by Period

	VADAX	ACEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	2.34	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.64	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.69	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.72	-0.26

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	0.00%	-0.17%	+0.17%
Average Drawdown Average peak-to-trough decline	-7.10%	-4.61%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	1.32%	+0.76%

Volatility

VADAX vs. ACEIX - Volatility Comparison

Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) has a higher volatility of 2.66% compared to Invesco Equity and Income Fund (ACEIX) at 2.05%. 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	2.66%	2.05%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	6.13%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	8.03%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	11.11%	+5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	12.83%	+5.70%

VADAX vs. ACEIX - Expense Ratio Comparison

VADAX has a 0.52% 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 9.29%, more than ACEIX's 6.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACEIX Invesco Equity and Income Fund	6.51%	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	9.29%	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?

With a correlation of 0.91, VADAX and ACEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VADAX or ACEIX?

VADAX has higher volatility (2.66%) compared to ACEIX (2.05%). 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 (2.34 vs 1.78), 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.