VAFAX vs. IVW

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco American Franchise Fund Class A (VAFAX) and iShares S&P 500 Growth ETF (IVW).

VAFAX is managed by Invesco. It was launched on Jun 23, 2005. IVW is a passively managed fund by iShares that tracks the performance of the S&P 500/Citigroup Growth Index. It was launched on May 22, 2000.

Performance

VAFAX vs. IVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco American Franchise Fund Class A (VAFAX) and iShares S&P 500 Growth ETF (IVW). The values are adjusted to include any dividend payments, if applicable.

VAFAX vs. IVW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAFAX Invesco American Franchise Fund Class A	-9.70%	11.86%	34.78%	40.91%	-31.20%	11.13%	42.15%	36.55%	-3.99%	27.11%
IVW iShares S&P 500 Growth ETF	-6.94%	21.95%	35.82%	29.83%	-29.50%	31.80%	33.19%	30.77%	-0.21%	27.21%

Returns By Period

In the year-to-date period, VAFAX achieves a -9.70% return, which is significantly lower than IVW's -6.94% return. Over the past 10 years, VAFAX has underperformed IVW with an annualized return of 13.99%, while IVW has yielded a comparatively higher 15.78% annualized return.

VAFAX

• 1D: 4.44%
• 1M: -5.93%
• YTD: -9.70%
• 6M: -12.22%
• 1Y: 14.68%
• 3Y*: 19.34%
• 5Y*: 7.06%
• 10Y*: 13.99%

IVW

• 1D: 1.33%
• 1M: -4.23%
• YTD: -6.94%
• 6M: -5.28%
• 1Y: 23.09%
• 3Y*: 22.24%
• 5Y*: 12.40%
• 10Y*: 15.78%

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

VAFAX vs. IVW - Expense Ratio Comparison

VAFAX has a 0.95% expense ratio, which is higher than IVW's 0.18% expense ratio.

VAFAX

Invesco American Franchise Fund Class A

IVW

iShares S&P 500 Growth ETF

Return for Risk

VAFAX vs. IVW — Risk / Return Rank

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

VAFAX

VAFAX Risk / Return Rank: 22
VAFAX Sharpe Ratio Rank: 23
VAFAX Sortino Ratio Rank: 26
VAFAX Omega Ratio Rank: 25
VAFAX Calmar Ratio Rank: 20
VAFAX Martin Ratio Rank: 18

IVW

IVW Risk / Return Rank: 61
IVW Sharpe Ratio Rank: 56
IVW Sortino Ratio Rank: 60
IVW Omega Ratio Rank: 59
IVW Calmar Ratio Rank: 66
IVW Martin Ratio Rank: 65

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.

VAFAX vs. IVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco American Franchise Fund Class A (VAFAX) and iShares S&P 500 Growth ETF (IVW). 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.

	VAFAX	IVW	Difference
Sharpe ratio Return per unit of total volatility	0.63	1.04	-0.41
Sortino ratio Return per unit of downside risk	1.06	1.61	-0.55
Omega ratio Gain probability vs. loss probability	1.15	1.23	-0.08
Calmar ratio Return relative to maximum drawdown	0.65	1.74	-1.10
Martin ratio Return relative to average drawdown	2.03	6.75	-4.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAFAX vs. IVW - Sharpe Ratio Comparison

The current VAFAX Sharpe Ratio is 0.63, which is lower than the IVW Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of VAFAX and IVW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VAFAX	IVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	1.04	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.59	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.77	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.41	+0.12

Correlation

The correlation between VAFAX and IVW is 0.93, 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

VAFAX vs. IVW - Dividend Comparison

VAFAX's dividend yield for the trailing twelve months is around 15.61%, more than IVW's 0.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAFAX Invesco American Franchise Fund Class A	15.61%	14.09%	3.74%	0.00%	8.32%	26.50%	8.78%	6.85%	10.42%	5.37%	4.08%	4.90%
IVW iShares S&P 500 Growth ETF	0.43%	0.40%	0.43%	1.03%	0.92%	0.46%	0.82%	1.63%	1.28%	1.30%	1.51%	1.51%

Drawdowns

VAFAX vs. IVW - Drawdown Comparison

The maximum VAFAX drawdown since its inception was -48.48%, smaller than the maximum IVW drawdown of -57.33%. Use the drawdown chart below to compare losses from any high point for VAFAX and IVW.

Drawdown Indicators

	VAFAX	IVW	Difference
Max Drawdown Largest peak-to-trough decline	-48.48%	-57.33%	+8.85%
Max Drawdown (1Y) Largest decline over 1 year	-19.27%	-13.75%	-5.52%
Max Drawdown (5Y) Largest decline over 5 years	-38.86%	-32.72%	-6.14%
Max Drawdown (10Y) Largest decline over 10 years	-38.86%	-32.72%	-6.14%
Current Drawdown Current decline from peak	-15.69%	-9.07%	-6.62%
Average Drawdown Average peak-to-trough decline	-8.16%	-17.72%	+9.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.14%	3.55%	+2.59%

Volatility

VAFAX vs. IVW - Volatility Comparison

Invesco American Franchise Fund Class A (VAFAX) has a higher volatility of 8.31% compared to iShares S&P 500 Growth ETF (IVW) at 7.27%. This indicates that VAFAX's price experiences larger fluctuations and is considered to be riskier than IVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAFAX	IVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.31%	7.27%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	12.67%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	25.39%	22.28%	+3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.03%	21.12%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	20.54%	+1.69%