VVOAX vs. VVOIX

Last updated Jun 4, 2026

VVOAX (Invesco Value Opportunities Fund) and VVOIX (Invesco Value Opportunities Fund Class Y) are both Mid Cap Value Equities funds from Invesco. Over the past 10 years, VVOAX returned 16.36%/yr vs 16.62%/yr for VVOIX. With a 1.00 correlation, they move nearly in lockstep. VVOAX charges 1.22%/yr vs 0.77%/yr for VVOIX.

Performance

VVOAX vs. VVOIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VVOAX having a 23.96% return and VVOIX slightly higher at 24.11%. Both investments have delivered pretty close results over the past 10 years, with VVOAX having a 16.36% annualized return and VVOIX not far ahead at 16.62%.

VVOAX

• 1D: 4.24%
• 1M: 7.08%
• YTD: 23.96%
• 6M: 24.36%
• 1Y: 49.96%
• 3Y*: 32.05%
• 5Y*: 18.41%
• 10Y*: 16.36%

VVOIX

• 1D: 4.27%
• 1M: 7.13%
• YTD: 24.11%
• 6M: 24.53%
• 1Y: 50.37%
• 3Y*: 32.37%
• 5Y*: 18.70%
• 10Y*: 16.62%

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

VVOAX vs. VVOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVOAX Invesco Value Opportunities Fund	23.96%	20.24%	30.01%	15.20%	1.33%	35.60%	5.49%	29.84%	-19.92%	17.07%
VVOIX Invesco Value Opportunities Fund Class Y	24.11%	20.54%	30.36%	15.40%	1.68%	35.87%	5.73%	30.20%	-19.74%	17.36%

Correlation

The correlation between VVOAX and VVOIX 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 Mar 24, 2005	1.00

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

Return for Risk

VVOAX vs. VVOIX — Risk / Return Rank

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

VVOAX

VVOAX Risk / Return Rank: 87
VVOAX Sharpe Ratio Rank: 89
VVOAX Sortino Ratio Rank: 80
VVOAX Omega Ratio Rank: 77
VVOAX Calmar Ratio Rank: 95
VVOAX Martin Ratio Rank: 93

VVOIX

VVOIX Risk / Return Rank: 87
VVOIX Sharpe Ratio Rank: 89
VVOIX Sortino Ratio Rank: 80
VVOIX Omega Ratio Rank: 77
VVOIX Calmar Ratio Rank: 95
VVOIX Martin Ratio Rank: 93

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. VVOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Value Opportunities Fund (VVOAX) and Invesco Value Opportunities Fund Class Y (VVOIX). 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	VVOIX	Difference
Sharpe ratio: Return per unit of total volatility	2.94	2.95	-0.01
Sortino ratio: Return per unit of downside risk	3.79	3.81	-0.02
Omega ratio: Gain probability vs. loss probability	1.50	1.51	0.00
Calmar ratio: Return relative to maximum drawdown	5.71	5.78	-0.06
Martin ratio: Return relative to average drawdown	20.43	20.57	-0.13
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. VVOIX - Sharpe Ratio Comparison

The current VVOAX Sharpe Ratio is 2.94, which is comparable to the VVOIX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of VVOAX and VVOIX, 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	VVOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	2.95	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.89	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.69	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.41	0.00

Drawdowns

VVOAX vs. VVOIX - Drawdown Comparison

The maximum VVOAX drawdown since its inception was -62.08%, roughly equal to the maximum VVOIX drawdown of -61.77%. Use the drawdown chart below to compare losses from any high point for VVOAX and VVOIX.

Drawdown Indicators

	VVOAX	VVOIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.08%	-61.77%	-0.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-9.17%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.05%	-24.01%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-24.05%	-24.01%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-51.80%	-51.52%	-0.28%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.73%	-11.91%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.56%	0.00%

Volatility

VVOAX vs. VVOIX - Volatility Comparison

Invesco Value Opportunities Fund (VVOAX) and Invesco Value Opportunities Fund Class Y (VVOIX) have volatilities of 6.14% and 6.17%, 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

	VVOAX	VVOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	6.17%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.88%	13.89%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.89%	17.93%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	21.17%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.21%	24.20%	+0.01%

VVOAX vs. VVOIX - Expense Ratio Comparison

VVOAX has a 1.22% expense ratio, which is higher than VVOIX's 0.77% expense ratio.

Dividends

VVOAX vs. VVOIX - Dividend Comparison

VVOAX's dividend yield for the trailing twelve months is around 8.41%, less than VVOIX's 8.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VVOAX Invesco Value Opportunities Fund	8.41%	10.43%	7.79%	2.27%	9.79%	8.82%	0.25%	1.95%	15.44%	5.11%	1.10%	15.87%
VVOIX Invesco Value Opportunities Fund Class Y	8.53%	10.59%	7.94%	2.26%	10.02%	9.16%	0.49%	1.94%	15.42%	5.12%	1.10%	16.04%

Frequently Asked Questions

Can I hold both VVOAX and VVOIX in my portfolio?

With a correlation of 1.00, VVOAX and VVOIX 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, VVOAX or VVOIX?

VVOIX has higher volatility (6.17%) compared to VVOAX (6.14%). In terms of maximum drawdown, VVOAX dropped -62.08% vs VVOIX's -61.77%.

Which has better risk-adjusted returns?

VVOIX currently has the higher Sharpe Ratio (2.95 vs 2.94), 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.