VADDX vs. ODIIX

Last updated Aug 4, 2026

VADDX (Invesco Equally-Weighted S&P 500 Fund) and ODIIX (Invesco Discovery Fund Class R6) are both mutual funds - VADDX is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while ODIIX is a Small Cap Growth Equities fund actively managed by Invesco. VADDX is passively managed, while ODIIX is actively managed. Over the past 10 years, VADDX returned 11.70%/yr vs 15.60%/yr for ODIIX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VADDX charges 0.27%/yr vs 0.65%/yr for ODIIX.

Performance

VADDX vs. ODIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund (VADDX) 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, VADDX achieves a 13.07% return, which is significantly lower than ODIIX's 21.02% return. Over the past 10 years, VADDX has underperformed ODIIX with an annualized return of 11.70%, while ODIIX has yielded a comparatively higher 15.60% annualized return.

VADDX

• 1D: -0.18%
• 1M: -0.02%
• 6M: 8.81%
• YTD: 13.07%
• 1Y: 20.24%
• 3Y*: 13.45%
• 5Y*: 8.75%
• 10Y*: 11.70%
• ALL TIME*: 9.43%

ODIIX

• 1D: -0.47%
• 1M: -7.71%
• 6M: 11.11%
• YTD: 21.02%
• 1Y: 38.36%
• 3Y*: 21.21%
• 5Y*: 8.18%
• 10Y*: 15.60%
• ALL TIME*: 14.57%

*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)
ODIIX Invesco Discovery Fund Class R6	$0.00	$0.00	$0.00
VADDX Invesco Equally-Weighted S&P 500 Fund	$0.00	$0.00	$0.00

VADDX vs. ODIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADDX Invesco Equally-Weighted S&P 500 Fund	13.07%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%
ODIIX Invesco Discovery Fund Class R6	21.02%	17.14%	23.04%	17.46%	-31.00%	15.37%	50.87%	37.36%	-3.68%	29.58%

Correlation

The correlation between VADDX and ODIIX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Jan 27, 2012	0.78

Over the past year, the correlation between VADDX and ODIIX has dropped to 0.52 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

VADDX vs. ODIIX — Risk / Return Rank

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

VADDX

VADDX Risk / Return Rank: 66
VADDX Sharpe Ratio Rank: 64
VADDX Sortino Ratio Rank: 66
VADDX Omega Ratio Rank: 58
VADDX Calmar Ratio Rank: 71
VADDX Martin Ratio Rank: 72

ODIIX

ODIIX Risk / Return Rank: 59
ODIIX Sharpe Ratio Rank: 49
ODIIX Sortino Ratio Rank: 49
ODIIX Omega Ratio Rank: 44
ODIIX Calmar Ratio Rank: 73
ODIIX Martin Ratio Rank: 79

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.

VADDX vs. ODIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund (VADDX) 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.

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.

	VADDX	ODIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.44	+0.19
Sortino ratio: Return per unit of downside risk	2.38	2.07	+0.30
Omega ratio: Gain probability vs. loss probability	1.29	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	2.43	2.48	-0.06
Martin ratio: Return relative to average drawdown	9.38	10.08	-0.70

VADDX vs. ODIIX - Sharpe Ratio Comparison

The current VADDX Sharpe Ratio is 1.63, which is comparable to the ODIIX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of VADDX 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.

Drawdowns

VADDX vs. ODIIX - Drawdown Comparison

The maximum VADDX drawdown since its inception was -60.12%, which is greater than ODIIX's maximum drawdown of -43.06%. Use the drawdown chart below to compare losses from any high point for VADDX and ODIIX.

Drawdown Indicators

	VADDX	ODIIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.12%	-43.06%	-17.06%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-16.66%	+8.78%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-28.52%	+10.66%
Max Drawdown (5Y) Largest decline over 5 years	-21.58%	-43.06%	+21.48%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-43.06%	+3.67%
Current Drawdown Current decline from peak	-1.24%	-13.05%	+11.81%
Average Drawdown Average peak-to-trough decline	-6.96%	-10.11%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	3.91%	-1.87%

Volatility

VADDX vs. ODIIX - Volatility Comparison

The current volatility for Invesco Equally-Weighted S&P 500 Fund (VADDX) is 2.88%, while Invesco Discovery Fund Class R6 (ODIIX) has a volatility of 10.25%. This indicates that VADDX 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

	VADDX	ODIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	10.25%	-7.37%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	22.68%	-14.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	28.71%	-16.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	26.13%	-9.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.46%	25.20%	-6.74%

VADDX vs. ODIIX - Expense Ratio Comparison

VADDX has a 0.27% expense ratio, which is lower than ODIIX's 0.65% expense ratio.

Dividends

VADDX vs. ODIIX - Dividend Comparison

VADDX's dividend yield for the trailing twelve months is around 8.92%, more than ODIIX's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODIIX Invesco Discovery Fund Class R6	8.21%	9.94%	5.27%	0.00%	0.00%	16.15%	9.22%	5.40%	16.05%	10.90%	3.86%	6.15%
VADDX Invesco Equally-Weighted S&P 500 Fund	8.92%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Frequently Asked Questions

Can I hold both VADDX and ODIIX in my portfolio?

VADDX and ODIIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VADDX or ODIIX?

ODIIX has higher volatility (10.25%) compared to VADDX (2.88%). In terms of maximum drawdown, VADDX dropped -60.12% vs ODIIX's -43.06%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.63 vs 1.44), 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.