VAFIX vs. VAFAX

Last updated Jun 4, 2026

VAFIX (Invesco American Franchise Fund Class Y) and VAFAX (Invesco American Franchise Fund Class A) are both Large Cap Growth Equities funds from Invesco. Over the past 10 years, VAFIX returned 16.22%/yr vs 15.93%/yr for VAFAX. With a 1.00 correlation, they move nearly in lockstep. VAFIX charges 0.72%/yr vs 0.95%/yr for VAFAX.

Performance

VAFIX vs. VAFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco American Franchise Fund Class Y (VAFIX) and Invesco American Franchise Fund Class A (VAFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VAFIX having a 9.78% return and VAFAX slightly lower at 9.63%. Both investments have delivered pretty close results over the past 10 years, with VAFIX having a 16.22% annualized return and VAFAX not far behind at 15.93%.

VAFIX

• 1D: 1.02%
• 1M: 6.43%
• YTD: 9.78%
• 6M: 8.91%
• 1Y: 23.32%
• 3Y*: 23.59%
• 5Y*: 11.21%
• 10Y*: 16.22%

VAFAX

• 1D: 1.00%
• 1M: 6.40%
• YTD: 9.63%
• 6M: 8.77%
• 1Y: 23.01%
• 3Y*: 23.28%
• 5Y*: 10.93%
• 10Y*: 15.93%

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

VAFIX vs. VAFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAFIX Invesco American Franchise Fund Class Y	9.78%	12.12%	35.11%	41.27%	-31.05%	11.47%	42.53%	36.82%	-3.71%	27.38%
VAFAX Invesco American Franchise Fund Class A	9.63%	11.86%	34.78%	40.91%	-31.20%	11.13%	42.15%	36.55%	-3.99%	27.11%

Correlation

The correlation between VAFIX and VAFAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 27, 2005	1.00

The correlation between VAFIX and VAFAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

VAFIX vs. VAFAX — Risk / Return Rank

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

VAFIX

VAFIX Risk / Return Rank: 17
VAFIX Sharpe Ratio Rank: 20
VAFIX Sortino Ratio Rank: 18
VAFIX Omega Ratio Rank: 19
VAFIX Calmar Ratio Rank: 14
VAFIX Martin Ratio Rank: 13

VAFAX

VAFAX Risk / Return Rank: 16
VAFAX Sharpe Ratio Rank: 19
VAFAX Sortino Ratio Rank: 17
VAFAX Omega Ratio Rank: 18
VAFAX Calmar Ratio Rank: 13
VAFAX Martin Ratio Rank: 13

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.

VAFIX vs. VAFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco American Franchise Fund Class Y (VAFIX) and Invesco American Franchise Fund Class A (VAFAX). 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.

	VAFIX	VAFAX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.25	+0.02
Sortino ratio: Return per unit of downside risk	1.76	1.74	+0.02
Omega ratio: Gain probability vs. loss probability	1.23	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.27	1.25	+0.02
Martin ratio: Return relative to average drawdown	3.84	3.78	+0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAFIX vs. VAFAX - Sharpe Ratio Comparison

The current VAFIX Sharpe Ratio is 1.27, which is comparable to the VAFAX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of VAFIX and VAFAX, 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

	VAFIX	VAFAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.25	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.48	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.72	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.58	+0.01

Drawdowns

VAFIX vs. VAFAX - Drawdown Comparison

The maximum VAFIX drawdown since its inception was -48.20%, roughly equal to the maximum VAFAX drawdown of -48.48%. Use the drawdown chart below to compare losses from any high point for VAFIX and VAFAX.

Drawdown Indicators

	VAFIX	VAFAX	Difference
Max Drawdown Largest peak-to-trough decline	-48.20%	-48.48%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-19.21%	-19.27%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-27.22%	-27.24%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-38.86%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-38.69%	-38.86%	+0.17%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.16%	-8.13%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	6.35%	-0.04%

Volatility

VAFIX vs. VAFAX - Volatility Comparison

Invesco American Franchise Fund Class Y (VAFIX) and Invesco American Franchise Fund Class A (VAFAX) have volatilities of 4.95% and 4.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAFIX	VAFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.96%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	14.61%	14.64%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	19.21%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.04%	23.05%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	22.31%	-0.02%

VAFIX vs. VAFAX - Expense Ratio Comparison

VAFIX has a 0.72% expense ratio, which is lower than VAFAX's 0.95% expense ratio.

Dividends

VAFIX vs. VAFAX - Dividend Comparison

VAFIX's dividend yield for the trailing twelve months is around 11.95%, less than VAFAX's 12.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAFAX Invesco American Franchise Fund Class A	12.85%	14.09%	3.74%	0.00%	8.32%	26.50%	8.78%	6.85%	10.42%	5.37%	4.08%	4.90%
VAFIX Invesco American Franchise Fund Class Y	11.95%	13.12%	3.52%	0.00%	7.89%	25.28%	8.48%	6.66%	10.16%	5.26%	4.01%	4.84%

Frequently Asked Questions

Can I hold both VAFIX and VAFAX in my portfolio?

With a correlation of 1.00, VAFIX and VAFAX 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, VAFIX or VAFAX?

VAFAX has higher volatility (4.96%) compared to VAFIX (4.95%). In terms of maximum drawdown, VAFIX dropped -48.20% vs VAFAX's -48.48%.

Which has better risk-adjusted returns?

VAFIX currently has the higher Sharpe Ratio (1.27 vs 1.25), 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.