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 35 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% | 11.94M | 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 39. There are 20 mutual funds in the Long-Short category with higher risk-adjusted ranks, going as high as 94.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | 94 | — | Dec 2012 | SAOAX vs BDMIX | |
| Boston Partners Long/Short Equity Fund | 94 | — | Nov 1998 | SAOAX vs BPLEX | |
| Vanguard Market Neutral Fund Institutional Shares | 86 | — | Oct 1998 | SAOAX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 86 | 561.90M | Nov 1998 | SAOAX vs VMNFX | |
| Multi-Manager Directional Alternative Strategies F... | 85 | — | Jan 2017 | SAOAX vs CDAZX |
Top Performing SAOAX Alternatives (YTD)
SAOAX is at 12.71% YTD. There are 4 mutual funds in the Long-Short category with higher YTD returns, going as high as 14.03%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Investor Shares | 14.03% | 561.90M | Nov 1998 | SAOAX vs VMNFX | |
| Vanguard Market Neutral Fund Institutional Shares | 14.03% | — | Oct 1998 | SAOAX vs VMNIX | |
| Boston Partners Long/Short Equity Fund | 13.95% | — | Nov 1998 | SAOAX vs BPLEX | |
| Longboard Alternative Growth Fund | 12.82% | — | Mar 2015 | SAOAX vs LONGX | |
| CRM Long/Short Opportunities Fund | 12.61% | — | Aug 2016 | SAOAX vs CRIHX |
Lowest Volatility Alternatives to SAOAX
SAOAX has 9.23% 1-year volatility. There are 22 mutual funds in the Long-Short category with lower 1-year volatility, going as low as 5.31%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Neuberger Berman Long Short Fund | 5.31% | — | Dec 2011 | SAOAX vs NLSIX | |
| AB Select US Long/Short Portfolio | 5.60% | — | Dec 2012 | SAOAX vs ASILX | |
| MFS Managed Wealth Fund | 5.88% | — | Jun 2014 | SAOAX vs MNWIX | |
| Knights of Columbus Long/Short Equity Fund | 6.11% | — | Dec 2019 | SAOAX vs KCEIX | |
| Wilmington Global Alpha Equities Fund | 6.17% | — | Jan 2012 | SAOAX vs WRAIX |
Lowest Drawdown Alternatives to SAOAX
SAOAX has a 1-year max drawdown of -5.90%. There are 18 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 | |
| BlackRock Global Long/Short Equity Fund Class I | -3.24% | — | Dec 2012 | SAOAX vs BDMIX | |
| AB Select US Long/Short Portfolio | -3.61% | — | Dec 2012 | SAOAX vs ASILX | |
| Gotham Absolute Return Fund | -3.85% | — | Aug 2012 | SAOAX vs GARIX |
Other Mutual Funds from Guggenheim
The 10 most viewed Guggenheim mutual funds shown here include GOF, RYOCX, GIBIX and span 12 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Guggenheim Strategic Opportunities Fund | Multisector Bonds, Diversified Portfolio, Actively Managed | 1 | -10.48% | — | Jul 2007 | SAOAX vs GOF | |
| Rydex NASDAQ-100 Fund Investor Class | Large Cap Growth Equities | 49 | 15.93% | — | Feb 1994 | SAOAX vs RYOCX | |
| Guggenheim Total Return Bond Fund | Intermediate Core-Plus Bond | 24 | 0.30% | — | Nov 2011 | SAOAX vs GIBIX | |
| Guggenheim Limited Duration Fund | Short-Term Bond | 86 | 0.77% | — | Dec 2013 | SAOAX vs GILHX | |
| Guggenheim Macro Opportunities Fund | Nontraditional Bonds | 71 | 0.79% | — | Nov 2011 | SAOAX vs GIOIX | |
| Guggenheim High Yield Fund | High Yield Bonds | 35 | 0.60% | — | Aug 1996 | SAOAX vs SIHAX | |
| Guggenheim Managed Futures Strategy Fund | Systematic Trend | 49 | 6.51% | — | Mar 2007 | SAOAX vs RYMTX | |
| Guggenheim StylePlus - Large Core Fund | Large Cap Blend Equities | 56 | 11.13% | — | Sep 1962 | SAOAX vs SECEX | |
| Guggenheim Core Bond Fund Institutional Class | Total Bond Market | 23 | 0.28% | — | — | SAOAX vs GIUSX | |
| Guggenheim StylePlus - Mid Growth Fund | Mid Cap Growth Equities | 23 | 14.07% | — | Sep 1969 | SAOAX vs SECUX |
Often Compared With SAOAX
Investors most often compare SAOAX with QLEIX, SNOIX, PWLIX. These 20 comparison targets span 2 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