VAFAX vs. SPMPX
VAFAX (Invesco American Franchise Fund Class A) and SPMPX (Invesco SteelPath MLP Alpha Plus Fund Class R5) are both mutual funds - VAFAX is a Large Cap Growth Equities fund managed by Invesco, while SPMPX is a Energy Equities fund actively managed by Invesco. Over the past 5 years, VAFAX returned 9.06%/yr vs 30.94%/yr for SPMPX. Their 0.33 correlation means their historical movements had little consistent relationship. VAFAX charges 0.95%/yr vs 7.73%/yr for SPMPX.
Performance
VAFAX vs. SPMPX - Performance Comparison
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Returns By Period
In the year-to-date period, VAFAX achieves a 5.69% return, which is significantly lower than SPMPX's 31.65% return.
VAFAX
- 1D
- 1.85%
- 1M
- -0.26%
- 6M
- 8.07%
- YTD
- 5.69%
- 1Y
- 8.50%
- 3Y*
- 20.35%
- 5Y*
- 9.06%
- 10Y*
- 14.97%
- ALL TIME*
- 11.29%
SPMPX
- 1D
- -0.77%
- 1M
- 5.05%
- 6M
- 20.14%
- YTD
- 31.65%
- 1Y
- 31.85%
- 3Y*
- 30.40%
- 5Y*
- 30.94%
- 10Y*
- —
- ALL TIME*
- 14.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VAFAX vs. SPMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAFAX Invesco American Franchise Fund Class A | 5.69% | 11.86% | 34.78% | 40.91% | -31.20% | 11.13% | 42.15% | 17.29% |
SPMPX Invesco SteelPath MLP Alpha Plus Fund Class R5 | 31.65% | 4.59% | 47.63% | 25.49% | 38.13% | 56.29% | -45.67% | -10.91% |
Correlation
The correlation between VAFAX and SPMPX is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 24, 2019 | 0.33 |
The correlation between VAFAX and SPMPX shifts across timeframes, from -0.13 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VAFAX vs. SPMPX — Risk / Return Rank
VAFAX
SPMPX
VAFAX vs. SPMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco American Franchise Fund Class A (VAFAX) and Invesco SteelPath MLP Alpha Plus Fund Class R5 (SPMPX). 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.
| VAFAX | SPMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.33 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 4.00 | -3.44 |
| Martin ratioReturn relative to average drawdown | 1.64 | 9.62 | -7.98 |
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Drawdowns
VAFAX vs. SPMPX - Drawdown Comparison
The maximum VAFAX drawdown since its inception was -48.48%, smaller than the maximum SPMPX drawdown of -81.60%. Use the drawdown chart below to compare losses from any high point for VAFAX and SPMPX.
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Drawdown Indicators
| VAFAX | SPMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.48% | -81.60% | +33.12% |
Max Drawdown (1Y)Largest decline over 1 year | -19.27% | -8.21% | -11.06% |
Max Drawdown (3Y)Largest decline over 3 years | -27.24% | -19.53% | -7.71% |
Max Drawdown (5Y)Largest decline over 5 years | -38.86% | -27.12% | -11.74% |
Max Drawdown (10Y)Largest decline over 10 years | -38.86% | — | — |
Current DrawdownCurrent decline from peak | -3.93% | -1.77% | -2.16% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -16.63% | +8.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.58% | 3.61% | +2.97% |
Volatility
VAFAX vs. SPMPX - Volatility Comparison
Invesco American Franchise Fund Class A (VAFAX) has a higher volatility of 8.25% compared to Invesco SteelPath MLP Alpha Plus Fund Class R5 (SPMPX) at 5.38%. This indicates that VAFAX's price experiences larger fluctuations and is considered to be riskier than SPMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAFAX | SPMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.25% | 5.38% | +2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 18.19% | 12.94% | +5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.45% | 16.64% | +5.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 24.59% | -0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.58% | 38.43% | -15.85% |
VAFAX vs. SPMPX - Expense Ratio Comparison
VAFAX has a 0.95% expense ratio, which is lower than SPMPX's 7.73% expense ratio.
Dividends
VAFAX vs. SPMPX - Dividend Comparison
VAFAX's dividend yield for the trailing twelve months is around 13.33%, more than SPMPX's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMPX Invesco SteelPath MLP Alpha Plus Fund Class R5 | 4.67% | 5.55% | 4.32% | 5.81% | 6.70% | 9.04% | 22.32% | 8.34% | 0.00% | 0.00% | 0.00% | 0.00% |
VAFAX Invesco American Franchise Fund Class A | 13.33% | 14.09% | 3.74% | 0.00% | 8.32% | 26.50% | 8.78% | 6.85% | 10.42% | 5.37% | 4.08% | 4.90% |
Frequently Asked Questions
VAFAX and SPMPX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VAFAX has higher volatility (8.25%) compared to SPMPX (5.38%). In terms of maximum drawdown, VAFAX dropped -48.48% vs SPMPX's -81.60%.
SPMPX currently has the higher Sharpe Ratio (2.01 vs 0.48), 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.
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