VVOAX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Value Opportunities Fund (VVOAX) and S&P 500 Index (^GSPC).

VVOAX is managed by Invesco. It was launched on Jun 25, 2001.

Performance

VVOAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Value Opportunities Fund (VVOAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

VVOAX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVOAX Invesco Value Opportunities Fund	5.98%	20.24%	30.01%	15.20%	1.33%	35.60%	5.49%	29.84%	-19.92%	17.07%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, VVOAX achieves a 5.98% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, VVOAX has outperformed ^GSPC with an annualized return of 14.64%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

VVOAX

• 1D: 2.69%
• 1M: -6.69%
• YTD: 5.98%
• 6M: 11.47%
• 1Y: 34.05%
• 3Y*: 25.74%
• 5Y*: 16.70%
• 10Y*: 14.64%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

VVOAX vs. ^GSPC — Risk / Return Rank

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

VVOAX

VVOAX Risk / Return Rank: 81
VVOAX Sharpe Ratio Rank: 80
VVOAX Sortino Ratio Rank: 78
VVOAX Omega Ratio Rank: 78
VVOAX Calmar Ratio Rank: 83
VVOAX Martin Ratio Rank: 84

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

VVOAX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Value Opportunities Fund (VVOAX) and S&P 500 Index (^GSPC). 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.

	VVOAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.51	0.92	+0.59
Sortino ratio Return per unit of downside risk	2.04	1.41	+0.63
Omega ratio Gain probability vs. loss probability	1.31	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	2.09	1.41	+0.68
Martin ratio Return relative to average drawdown	8.91	6.61	+2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VVOAX vs. ^GSPC - Sharpe Ratio Comparison

The current VVOAX Sharpe Ratio is 1.51, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VVOAX and ^GSPC, 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

	VVOAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	0.92	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.61	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.68	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.46	-0.07

Correlation

The correlation between VVOAX and ^GSPC is 0.86, 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.

Drawdowns

VVOAX vs. ^GSPC - Drawdown Comparison

The maximum VVOAX drawdown since its inception was -62.08%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for VVOAX and ^GSPC.

Drawdown Indicators

	VVOAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-62.08%	-56.78%	-5.30%
Max Drawdown (1Y) Largest decline over 1 year	-15.08%	-12.14%	-2.94%
Max Drawdown (5Y) Largest decline over 5 years	-24.05%	-25.43%	+1.38%
Max Drawdown (10Y) Largest decline over 10 years	-51.80%	-33.92%	-17.88%
Current Drawdown Current decline from peak	-6.76%	-5.78%	-0.98%
Average Drawdown Average peak-to-trough decline	-11.80%	-10.75%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.60%	+0.94%

Volatility

VVOAX vs. ^GSPC - Volatility Comparison

Invesco Value Opportunities Fund (VVOAX) has a higher volatility of 7.27% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that VVOAX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VVOAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	5.37%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	14.27%	9.55%	+4.72%
Volatility (1Y) Calculated over the trailing 1-year period	22.91%	18.33%	+4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.06%	16.90%	+4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	18.05%	+6.15%