Max drawdown: Can Woodford's rivals match his defensiveness?

Mark Barnett's Invesco Perpetual UK Strategic Income fund is among a handful of UK equity income vehicles to have displayed a lower maximum drawdown than Neil Woodford's portfolios over the past five years.

Woodford’s place at the heart of investors’ portfolios has been valued as much for his low-risk approach as his ability to outperform, particularly in recent years. The diminishing attraction of some of the ‘bond proxy’ stocks Woodford favours has seen him fall back into the fourth quartile of the IMA UK Equity Income sector on a one-year view. But the portfolios’ maximum peak-to-trough fall over the past five years remains just 13%. Those considering switching portfolios may find such qualities hard to come by elsewhere. Just a handful of funds have enjoyed a lower maximum drawdown t...