- ISIN
- US60055P8620
- CUSIP
- 60055P862
- Issuer
- Miller Investment
- Inception Date
- Dec 31, 2014
- Category
- Corporate Bonds
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
MIFIX Performance Chart
Miller Intermediate Bond Fund (MIFIX) is up 4.6% since the beginning of the year. MIFIX is currently trading at $17 per share. Investors who bought $1,000 worth of MIFIX shares 5 years ago would now be looking at an investment worth $1,210.
Loading charts...
Returns By Period
Miller Intermediate Bond Fund (MIFIX) has returned 4.56% so far this year and 9.75% over the past 12 months. Over the last ten years, MIFIX has returned 5.13% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Miller Intermediate Bond Fund
- 1D
- -0.06%
- 1M
- 0.59%
- YTD
- 4.56%
- 6M
- 4.37%
- 1Y
- 9.75%
- 3Y*
- 7.64%
- 5Y*
- 3.89%
- 10Y*
- 5.13%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MIFIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2015, MIFIX's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 65% of months were positive and 35% were negative. The best month was Apr 2020 with a return of +5.5%, while the worst month was Mar 2020 at -10.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MIFIX closed higher 49% of trading days. The best single day was Apr 6, 2020 with a return of +2.1%, while the worst single day was Mar 18, 2020 at -3.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.19% | 0.18% | -1.51% | 2.72% | 2.12% | -0.16% | 4.56% | ||||||
| 2025 | 1.34% | 0.36% | -0.59% | -0.31% | 0.80% | 1.17% | 0.43% | 1.33% | 0.67% | 0.48% | 0.83% | 0.38% | 7.11% |
| 2024 | 1.07% | 1.87% | 1.76% | -1.94% | 0.87% | 0.16% | 2.11% | 1.09% | 0.66% | -0.84% | 2.13% | -1.75% | 7.31% |
| 2023 | 2.79% | -1.58% | 0.27% | -0.19% | -0.32% | 2.37% | 2.23% | -1.18% | -1.51% | -2.46% | 2.59% | 3.92% | 6.88% |
| 2022 | -1.68% | 0.41% | 0.57% | -3.78% | -0.98% | -2.86% | 2.51% | -1.76% | -4.06% | 2.61% | 2.80% | -1.48% | -7.72% |
| 2021 | 0.97% | 1.69% | -0.34% | 0.89% | -0.17% | 0.07% | -0.28% | 0.45% | -1.15% | 0.23% | -0.86% | 2.80% | 4.32% |
Benchmark Metrics
Miller Intermediate Bond Fund has an annualized alpha of 2.35%, beta of 0.22, and R2 of 0.55 versus S&P 500 Index. Calculated based on daily prices since January 02, 2015.
- This fund participated in 34.93% of S&P 500 Index downside but only 31.49% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.35% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.22 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.35%
- Beta
- 0.22
- R²
- 0.55
- Upside Capture
- 31.49%
- Downside Capture
- 34.93%
Expense Ratio
MIFIX has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MIFIX ranks 91 for risk / return — in the top 91% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Miller Intermediate Bond Fund (MIFIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MIFIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.37 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 2.78 | +0.90 |
| Martin ratioReturn relative to average drawdown | 14.59 | 12.44 | +2.15 |
Dividends
Dividend History
Miller Intermediate Bond Fund provided a 4.41% dividend yield over the last twelve months, with an annual payout of $0.75 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.75 | $0.77 | $0.67 | $0.57 | $0.56 | $1.02 | $0.91 | $0.38 | $0.78 | $0.63 | $0.24 | $0.27 |
Dividend yield | 4.41% | 4.59% | 4.08% | 3.60% | 3.62% | 5.87% | 5.16% | 2.36% | 5.16% | 3.90% | 1.48% | 1.78% |
Monthly Dividends
The table displays the monthly dividend distributions for Miller Intermediate Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.21 | $0.40 | ||||||
| 2025 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.25 | $0.77 |
| 2024 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.16 | $0.67 |
| 2023 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.16 | $0.57 |
| 2022 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.11 | $0.56 |
| 2021 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.55 | $1.02 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Miller Intermediate Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Miller Intermediate Bond Fund was 15.58%, occurring on Mar 24, 2020. Recovery took 82 trading sessions.
The current Miller Intermediate Bond Fund drawdown is 0.79%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -15.58%Mar 2020 | 1mo 2d | 3mo 29d | 5mo 1dFeb 2020 - Jul 2020 |
Bear market2022 | -11.87%Sep 2022 | 8mo 28d | 1y 4mo | 2y 1moJan 2022 - Feb 2024 |
Rate-hike selloffLate 2018 | -6.53%Dec 2018 | 3mo 26d | 4mo | 7mo 26dAug 2018 - Apr 2019 |
2016 pullback2016 | -5.43%Feb 2016 | 9mo 21d | 3mo 14d | 1y 1moApr 2015 - May 2016 |
2020 pullback2020 | -3.66%Sep 2020 | 20d | 1mo 19d | 2mo 9dSep 2020 - Nov 2020 |
Drawdown Indicators
| MIFIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -56.78% | +41.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -9.10% | +6.42% |
Max Drawdown (3Y)Largest decline over 3 years | -5.39% | -18.90% | +13.51% |
Max Drawdown (5Y)Largest decline over 5 years | -11.87% | -25.43% | +13.56% |
Max Drawdown (10Y)Largest decline over 10 years | -15.58% | -33.92% | +18.34% |
Current DrawdownCurrent decline from peak | -0.79% | -1.80% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -10.71% | +8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 2.03% | -1.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with MIFIX
Add Miller Intermediate Bond Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with MIFIX