VSLAX vs. VADAX

Last updated Jun 23, 2026

VSLAX (Invesco Senior Loan Fund Class A) and VADAX (Invesco Equally-Weighted S&P 500 Fund Class A) are both mutual funds - VSLAX is a Bank Loan fund managed by Invesco, while VADAX is a Large Cap Blend Equities fund managed by Invesco. Over the past 10 years, VSLAX returned 4.63%/yr vs 11.46%/yr for VADAX. At a 0.24 correlation, their price movements are largely independent. VSLAX charges 1.70%/yr vs 0.52%/yr for VADAX.

Performance

VSLAX vs. VADAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Senior Loan Fund Class A (VSLAX) and Invesco Equally-Weighted S&P 500 Fund Class A (VADAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSLAX achieves a -1.21% return, which is significantly lower than VADAX's 9.99% return. Over the past 10 years, VSLAX has underperformed VADAX with an annualized return of 4.63%, while VADAX has yielded a comparatively higher 11.46% annualized return.

VSLAX

• 1D: 0.00%
• 1M: 0.44%
• YTD: -1.21%
• 6M: -0.57%
• 1Y: 1.10%
• 3Y*: 4.89%
• 5Y*: 3.80%
• 10Y*: 4.63%

VADAX

• 1D: 0.55%
• 1M: 1.67%
• YTD: 9.99%
• 6M: 8.81%
• 1Y: 19.83%
• 3Y*: 13.69%
• 5Y*: 8.84%
• 10Y*: 11.46%

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

VSLAX vs. VADAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSLAX Invesco Senior Loan Fund Class A	-1.21%	4.45%	5.90%	10.63%	-3.01%	8.20%	1.04%	7.45%	-0.35%	5.37%
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.99%	10.89%	12.40%	13.29%	-12.07%	28.93%	12.30%	28.59%	-8.19%	18.26%

Correlation

The correlation between VSLAX and VADAX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Feb 18, 2005	0.24

The correlation between VSLAX and VADAX shifts across timeframes, from 0.16 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VSLAX vs. VADAX — Risk / Return Rank

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

VSLAX

VSLAX Risk / Return Rank: 6
VSLAX Sharpe Ratio Rank: 6
VSLAX Sortino Ratio Rank: 7
VSLAX Omega Ratio Rank: 8
VSLAX Calmar Ratio Rank: 5
VSLAX Martin Ratio Rank: 4

VADAX

VADAX Risk / Return Rank: 43
VADAX Sharpe Ratio Rank: 40
VADAX Sortino Ratio Rank: 40
VADAX Omega Ratio Rank: 36
VADAX Calmar Ratio Rank: 49
VADAX Martin Ratio Rank: 50

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.

VSLAX vs. VADAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan Fund Class A (VSLAX) and Invesco Equally-Weighted S&P 500 Fund Class A (VADAX). 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.

	VSLAX	VADAX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.70	-1.31
Sortino ratio: Return per unit of downside risk	0.80	2.46	-1.66
Omega ratio: Gain probability vs. loss probability	1.11	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	0.36	2.56	-2.20
Martin ratio: Return relative to average drawdown	0.74	9.65	-8.91

VSLAX vs. VADAX - Sharpe Ratio Comparison

The current VSLAX Sharpe Ratio is 0.39, which is lower than the VADAX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VSLAX and VADAX, 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

VSLAX vs. VADAX - Drawdown Comparison

The maximum VSLAX drawdown since its inception was -48.81%, smaller than the maximum VADAX drawdown of -60.27%. Use the drawdown chart below to compare losses from any high point for VSLAX and VADAX.

Drawdown Indicators

	VSLAX	VADAX	Difference
Max Drawdown Largest peak-to-trough decline	-48.81%	-60.27%	+11.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.41%	-7.89%	+4.48%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-17.92%	+14.06%
Max Drawdown (5Y) Largest decline over 5 years	-8.54%	-21.74%	+13.20%
Max Drawdown (10Y) Largest decline over 10 years	-23.54%	-39.32%	+15.78%
Current Drawdown Current decline from peak	-2.13%	-1.30%	-0.83%
Average Drawdown Average peak-to-trough decline	-4.13%	-7.09%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.09%	-0.51%

Volatility

VSLAX vs. VADAX - Volatility Comparison

The current volatility for Invesco Senior Loan Fund Class A (VSLAX) is 0.89%, while Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) has a volatility of 3.78%. This indicates that VSLAX experiences smaller price fluctuations and is considered to be less risky than VADAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSLAX	VADAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	3.78%	-2.89%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	8.79%	-6.71%
Volatility (1Y) Calculated over the trailing 1-year period	3.14%	11.89%	-8.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.12%	16.31%	-12.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.75%	18.55%	-13.80%

VSLAX vs. VADAX - Expense Ratio Comparison

VSLAX has a 1.70% expense ratio, which is higher than VADAX's 0.52% expense ratio.

Dividends

VSLAX vs. VADAX - Dividend Comparison

VSLAX's dividend yield for the trailing twelve months is around 5.19%, less than VADAX's 9.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.28%	10.21%	8.77%	4.69%	8.49%	9.80%	6.21%	4.49%	6.90%	2.76%	0.30%	2.77%
VSLAX Invesco Senior Loan Fund Class A	5.19%	6.67%	7.68%	8.67%	8.75%	4.75%	4.22%	4.70%	4.93%	4.16%	5.17%	6.16%

Frequently Asked Questions

Can I hold both VSLAX and VADAX in my portfolio?

VSLAX and VADAX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSLAX or VADAX?

VADAX has higher volatility (3.78%) compared to VSLAX (0.89%). In terms of maximum drawdown, VSLAX dropped -48.81% vs VADAX's -60.27%.

Which has better risk-adjusted returns?

VADAX currently has the higher Sharpe Ratio (1.70 vs 0.39), 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.