Guggenheim Alpha Opportunity Fund (SAOAX) belongs to the Long-Short category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with SAOAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SAOAX
SAOAX charges 1.76% annually. There are 32 mutual funds in the Long-Short category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parvin Hedged Equity Solari World Fund | 0.01% | — | Jan 2021 | SAOAX vs PHSWX | |
| MFS Managed Wealth Fund | 0.67% | — | Jun 2014 | SAOAX vs MNWIX | |
| WisdomTree Efficient Long/Short US Equity Fund | 0.88% | 12.07M | Jan 2026 | SAOAX vs WTLS | |
| Alger Dynamic Opportunities Fund | 0.91% | — | Nov 2009 | SAOAX vs SPEDX | |
| Salient Tactical Plus Fund | 1.08% | — | Dec 2012 | SAOAX vs BTPIX |
Best Risk-Adjusted Alternatives to SAOAX
SAOAX has a PortfoliosLab risk / return rank of 82. There are 12 mutual funds in the Long-Short category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Boston Partners Long/Short Equity Fund | 98 | — | Nov 1998 | SAOAX vs BPLEX | |
| Vanguard Market Neutral Fund Institutional Shares | 97 | — | Oct 1998 | SAOAX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 97 | 601.30M | Nov 1998 | SAOAX vs VMNFX | |
| Quantitative U.S. Long/Short Equity Portfolio | 95 | — | Sep 2006 | SAOAX vs GTAPX | |
| Knights of Columbus Long/Short Equity Fund | 95 | — | Dec 2019 | SAOAX vs KCEIX |
Top Performing SAOAX Alternatives (YTD)
SAOAX is at 15.92% YTD. There are 3 mutual funds in the Long-Short category with higher YTD returns, going as high as 21.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Boston Partners Long/Short Equity Fund | 21.35% | — | Nov 1998 | SAOAX vs BPLEX | |
| Vanguard Market Neutral Fund Investor Shares | 16.18% | 601.30M | Nov 1998 | SAOAX vs VMNFX | |
| Vanguard Market Neutral Fund Institutional Shares | 16.18% | — | Oct 1998 | SAOAX vs VMNIX | |
| Wasatch Long/Short Alpha Fund | 13.20% | — | Sep 2021 | SAOAX vs WALSX | |
| Longboard Fund | 13.15% | — | Mar 2015 | SAOAX vs LONGX |
Lowest Volatility Alternatives to SAOAX
SAOAX has 9.30% 1-year volatility. There are 20 mutual funds in the Long-Short category with lower 1-year volatility, going as low as 5.67%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Neuberger Berman Long Short Fund | 5.67% | — | Dec 2011 | SAOAX vs NLSIX | |
| AB Select US Long/Short Portfolio | 5.75% | — | Dec 2012 | SAOAX vs ASILX | |
| MFS Managed Wealth Fund | 6.03% | — | Jun 2014 | SAOAX vs MNWIX | |
| Wilmington Global Alpha Equities Fund | 6.25% | — | Jan 2012 | SAOAX vs WRAIX | |
| Knights of Columbus Long/Short Equity Fund | 6.51% | — | Dec 2019 | SAOAX vs KCEIX |
Lowest Drawdown Alternatives to SAOAX
SAOAX has a 1-year max drawdown of -5.90%. There are 17 mutual funds in the Long-Short category with shallower 1-year drawdowns, going as shallow as -2.82%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Knights of Columbus Long/Short Equity Fund | -2.82% | — | Dec 2019 | SAOAX vs KCEIX | |
| Quantitative U.S. Long/Short Equity Portfolio | -3.01% | — | Sep 2006 | SAOAX vs GTAPX | |
| AB Select US Long/Short Portfolio | -3.61% | — | Dec 2012 | SAOAX vs ASILX | |
| Gotham Absolute Return Fund | -3.85% | — | Aug 2012 | SAOAX vs GARIX | |
| Persimmon Long/Short Fund | -3.90% | — | Dec 2012 | SAOAX vs LSEIX |
Other Mutual Funds from Guggenheim
The 10 most viewed Guggenheim mutual funds shown here include GOF, RYOCX, GIBIX and span 11 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Guggenheim Strategic Opportunities Fund | Multisector Bonds, Diversified Portfolio, Actively Managed | 0 | -9.05% | — | Jul 2007 | SAOAX vs GOF | |
| Rydex NASDAQ-100 Fund Investor Class | Large Cap Growth Equities | 33 | 11.58% | — | Feb 1994 | SAOAX vs RYOCX | |
| Guggenheim Total Return Bond Fund | Intermediate Core-Plus Bond | 17 | -0.74% | — | Nov 2011 | SAOAX vs GIBIX | |
| Guggenheim Limited Duration Fund | Short-Term Bond | 91 | 1.00% | — | Dec 2013 | SAOAX vs GILHX | |
| Guggenheim Macro Opportunities Fund | Nontraditional Bonds | 63 | 0.55% | — | Nov 2011 | SAOAX vs GIOIX | |
| Guggenheim High Yield Fund | High Yield Bonds | 28 | 0.58% | — | Aug 1996 | SAOAX vs SIHAX | |
| Guggenheim Directional Allocation Fund | Large Cap Growth Equities | 52 | 8.85% | — | Jun 2012 | SAOAX vs TVRIX | |
| Guggenheim StylePlus - Large Core Fund | Large Cap Blend Equities | 50 | 10.66% | — | Sep 1962 | SAOAX vs SECEX | |
| Rydex Monthly Rebalance NASDAQ-100 2x Strategy H | Leveraged Equities | 27 | 17.70% | — | Nov 2014 | SAOAX vs RMQHX | |
| Guggenheim Managed Futures Strategy Fund | Systematic Trend | 53 | 5.74% | — | Mar 2007 | SAOAX vs RYMTX |
Often Compared With SAOAX
Investors most often compare SAOAX with CRIHX, QLEIX, SNOIX. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare SAOAX with Any Fund or Stock
Compare SAOAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SAOAX with funds that move differently
Guggenheim Alpha Opportunity Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SAOAX.
Explore SAOAX Diversifiers