VVOAX vs. SOXX
VVOAX (Invesco Value Opportunities Fund) and SOXX (iShares Semiconductor ETF) are both funds - VVOAX is a Mid Cap Value Equities fund managed by Invesco, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Over the past 10 years, VVOAX returned 15.70%/yr vs 34.90%/yr for SOXX. A 0.68 correlation means they provide meaningful diversification when combined. VVOAX charges 1.22%/yr vs 0.34%/yr for SOXX.
Performance
VVOAX vs. SOXX - Performance Comparison
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Returns By Period
In the year-to-date period, VVOAX achieves a 18.97% return, which is significantly lower than SOXX's 89.87% return. Over the past 10 years, VVOAX has underperformed SOXX with an annualized return of 15.70%, while SOXX has yielded a comparatively higher 34.90% annualized return.
VVOAX
- 1D
- -4.79%
- 1M
- 2.13%
- YTD
- 18.97%
- 6M
- 18.56%
- 1Y
- 41.92%
- 3Y*
- 29.80%
- 5Y*
- 17.40%
- 10Y*
- 15.70%
SOXX
- 1D
- 5.87%
- 1M
- 9.83%
- YTD
- 89.87%
- 6M
- 83.09%
- 1Y
- 164.61%
- 3Y*
- 53.13%
- 5Y*
- 33.00%
- 10Y*
- 34.90%
VVOAX vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VVOAX Invesco Value Opportunities Fund | 18.97% | 20.24% | 30.01% | 15.20% | 1.33% | 35.60% | 5.49% | 29.84% | -19.92% | 17.07% |
SOXX iShares Semiconductor ETF | 89.87% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between VVOAX and SOXX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001 | 0.68 |
The correlation between VVOAX and SOXX has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.
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Return for Risk
VVOAX vs. SOXX — Risk / Return Rank
VVOAX
SOXX
VVOAX vs. SOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Value Opportunities Fund (VVOAX) and iShares Semiconductor ETF (SOXX). 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 | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.64 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 10.51 | -5.73 |
| Martin ratioReturn relative to average drawdown | 16.94 | 39.26 | -22.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VVOAX | SOXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 4.57 | -2.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.91 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 1.04 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.44 | -0.03 |
Drawdowns
VVOAX vs. SOXX - Drawdown Comparison
The maximum VVOAX drawdown since its inception was -62.08%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for VVOAX and SOXX.
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Drawdown Indicators
| VVOAX | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.08% | -70.21% | +8.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.21% | -15.77% | +6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -24.05% | -41.36% | +17.31% |
Max Drawdown (5Y)Largest decline over 5 years | -24.05% | -45.75% | +21.70% |
Max Drawdown (10Y)Largest decline over 10 years | -51.80% | -45.75% | -6.05% |
Current DrawdownCurrent decline from peak | -4.79% | -7.18% | +2.39% |
Average DrawdownAverage peak-to-trough decline | -11.72% | -19.97% | +8.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 4.21% | -1.63% |
Volatility
VVOAX vs. SOXX - Volatility Comparison
The current volatility for Invesco Value Opportunities Fund (VVOAX) is 7.97%, while iShares Semiconductor ETF (SOXX) has a volatility of 18.43%. This indicates that VVOAX experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VVOAX | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 18.43% | -10.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.78% | 30.17% | -15.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.55% | 36.35% | -17.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 36.50% | -15.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.24% | 33.66% | -9.42% |
VVOAX vs. SOXX - Expense Ratio Comparison
VVOAX has a 1.22% expense ratio, which is higher than SOXX's 0.34% expense ratio.
Dividends
VVOAX vs. SOXX - Dividend Comparison
VVOAX's dividend yield for the trailing twelve months is around 8.77%, more than SOXX's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 0.29% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
VVOAX Invesco Value Opportunities Fund | 8.77% | 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
VVOAX and SOXX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXX has higher volatility (18.43%) compared to VVOAX (7.97%). In terms of maximum drawdown, VVOAX dropped -62.08% vs SOXX's -70.21%.
SOXX currently has the higher Sharpe Ratio (4.57 vs 2.37), 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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