VVOAX vs. NEAGX

Last updated Jun 5, 2026

VVOAX (Invesco Value Opportunities Fund) and NEAGX (Needham Aggressive Growth Fund) are both mutual funds - VVOAX is a Mid Cap Value Equities fund managed by Invesco, while NEAGX is a Small Cap Growth Equities fund managed by Needham. Over the past 10 years, VVOAX returned 16.34%/yr vs 22.39%/yr for NEAGX. A 0.76 correlation means they provide meaningful diversification when combined. VVOAX charges 1.22%/yr vs 1.86%/yr for NEAGX.

Performance

VVOAX vs. NEAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Value Opportunities Fund (VVOAX) and Needham Aggressive Growth Fund (NEAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VVOAX achieves a 23.71% return, which is significantly lower than NEAGX's 57.98% return. Over the past 10 years, VVOAX has underperformed NEAGX with an annualized return of 16.34%, while NEAGX has yielded a comparatively higher 22.39% annualized return.

VVOAX

• 1D: -0.21%
• 1M: 5.46%
• YTD: 23.71%
• 6M: 23.38%
• 1Y: 49.58%
• 3Y*: 31.96%
• 5Y*: 18.32%
• 10Y*: 16.34%

NEAGX

• 1D: -0.99%
• 1M: 12.44%
• YTD: 57.98%
• 6M: 57.43%
• 1Y: 92.85%
• 3Y*: 38.19%
• 5Y*: 23.00%
• 10Y*: 22.39%

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

VVOAX vs. NEAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVOAX Invesco Value Opportunities Fund	23.71%	20.24%	30.01%	15.20%	1.33%	35.60%	5.49%	29.84%	-19.92%	17.07%
NEAGX Needham Aggressive Growth Fund	57.98%	26.40%	14.31%	37.65%	-27.53%	37.56%	51.53%	43.82%	-16.09%	8.75%

Correlation

The correlation between VVOAX and NEAGX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 4, 2001	0.76

The correlation between VVOAX and NEAGX shifts across timeframes, from 0.72 (10 years) to 0.84 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VVOAX vs. NEAGX — Risk / Return Rank

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

VVOAX

VVOAX Risk / Return Rank: 84
VVOAX Sharpe Ratio Rank: 86
VVOAX Sortino Ratio Rank: 75
VVOAX Omega Ratio Rank: 73
VVOAX Calmar Ratio Rank: 94
VVOAX Martin Ratio Rank: 92

NEAGX

NEAGX Risk / Return Rank: 92
NEAGX Sharpe Ratio Rank: 97
NEAGX Sortino Ratio Rank: 87
NEAGX Omega Ratio Rank: 83
NEAGX Calmar Ratio Rank: 97
NEAGX Martin Ratio Rank: 97

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. NEAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Value Opportunities Fund (VVOAX) and Needham Aggressive Growth Fund (NEAGX). 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	NEAGX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	3.68	-0.87
Sortino ratio: Return per unit of downside risk	3.64	4.21	-0.57
Omega ratio: Gain probability vs. loss probability	1.48	1.56	-0.08
Calmar ratio: Return relative to maximum drawdown	5.45	6.78	-1.33
Martin ratio: Return relative to average drawdown	19.47	27.31	-7.84
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. NEAGX - Sharpe Ratio Comparison

The current VVOAX Sharpe Ratio is 2.81, which is comparable to the NEAGX Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of VVOAX and NEAGX, 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

	VVOAX	NEAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	3.68	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.94	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.93	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.66	-0.25

Drawdowns

VVOAX vs. NEAGX - Drawdown Comparison

The maximum VVOAX drawdown since its inception was -62.08%, which is greater than NEAGX's maximum drawdown of -41.80%. Use the drawdown chart below to compare losses from any high point for VVOAX and NEAGX.

Drawdown Indicators

	VVOAX	NEAGX	Difference
Max Drawdown Largest peak-to-trough decline	-62.08%	-41.80%	-20.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-14.01%	+4.80%
Max Drawdown (3Y) Largest decline over 3 years	-24.05%	-28.49%	+4.44%
Max Drawdown (5Y) Largest decline over 5 years	-24.05%	-36.31%	+12.26%
Max Drawdown (10Y) Largest decline over 10 years	-51.80%	-36.31%	-15.49%
Current Drawdown Current decline from peak	-0.21%	-0.99%	+0.78%
Average Drawdown Average peak-to-trough decline	-11.73%	-8.67%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.47%	-0.91%

Volatility

VVOAX vs. NEAGX - Volatility Comparison

The current volatility for Invesco Value Opportunities Fund (VVOAX) is 6.15%, while Needham Aggressive Growth Fund (NEAGX) has a volatility of 10.21%. This indicates that VVOAX experiences smaller price fluctuations and is considered to be less risky than NEAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VVOAX	NEAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	10.21%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	13.85%	20.45%	-6.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	25.84%	-7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	24.57%	-3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	24.15%	+0.05%

VVOAX vs. NEAGX - Expense Ratio Comparison

VVOAX has a 1.22% expense ratio, which is lower than NEAGX's 1.86% expense ratio.

Dividends

VVOAX vs. NEAGX - Dividend Comparison

VVOAX's dividend yield for the trailing twelve months is around 8.43%, more than NEAGX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEAGX Needham Aggressive Growth Fund	1.35%	2.14%	0.00%	0.00%	0.00%	7.10%	3.91%	10.64%	16.57%	5.17%	6.72%	11.88%
VVOAX Invesco Value Opportunities Fund	8.43%	10.43%	7.79%	2.27%	9.79%	8.82%	0.25%	1.95%	15.44%	5.11%	1.10%	15.87%

Frequently Asked Questions

Can I hold both VVOAX and NEAGX in my portfolio?

VVOAX and NEAGX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VVOAX or NEAGX?

NEAGX has higher volatility (10.21%) compared to VVOAX (6.15%). In terms of maximum drawdown, VVOAX dropped -62.08% vs NEAGX's -41.80%.

Which has better risk-adjusted returns?

NEAGX currently has the higher Sharpe Ratio (3.68 vs 2.81), 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.