Brandes Separately Managed Account Reserve Trust (SMARX)
The fund invests primarily in a diversified portfolio of debt securities. These include debt obligations issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities, debt securities issued by U.S. and foreign companies, collateralized mortgage obligations, and U.S. and foreign mortgage-backed and asset-backed debt securities. The fund may invest in debt instruments of any maturity or with no maturity and it may invest in both investment-grade securities and non-investment grade securities (also known as "high-yield bonds" or "junk bonds").
Fund Info
US1052628856
Oct 3, 2005
$0
Expense Ratio
SMARX has an expense ratio of 0.00%, indicating no management fees are charged.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Brandes Separately Managed Account Reserve Trust, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Brandes Separately Managed Account Reserve Trust had a return of 1.04% year-to-date (YTD) and 7.23% in the last 12 months. Over the past 10 years, Brandes Separately Managed Account Reserve Trust had an annualized return of 2.95%, while the S&P 500 had an annualized return of 11.26%, indicating that Brandes Separately Managed Account Reserve Trust did not perform as well as the benchmark.
SMARX
1.04%
0.92%
0.27%
7.23%
2.02%
2.95%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of SMARX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.79% | 1.04% | |||||||||||
| 2024 | -0.35% | 0.13% | 1.56% | -1.76% | 1.62% | 1.01% | 1.94% | 1.42% | 1.13% | -1.69% | 0.89% | -1.35% | 4.53% |
| 2023 | 3.75% | -1.71% | 2.26% | 1.17% | -1.40% | 0.66% | 0.54% | -0.38% | -1.97% | -1.05% | 4.67% | 3.95% | 10.69% |
| 2022 | -2.35% | -0.90% | -1.95% | -3.95% | 0.33% | -3.35% | 4.56% | -2.67% | -3.68% | 0.12% | 2.97% | -0.53% | -11.17% |
| 2021 | -0.34% | -1.20% | -0.41% | 1.07% | -0.11% | 1.66% | 0.68% | 0.63% | -0.76% | -0.23% | 0.17% | 0.16% | 1.28% |
| 2020 | 1.40% | 0.65% | -2.62% | 2.55% | 1.14% | 0.16% | 2.35% | -0.04% | 0.06% | -0.61% | 1.38% | 0.39% | 6.90% |
| 2019 | 2.18% | 0.59% | 1.43% | 0.01% | 0.76% | 0.91% | 0.00% | 1.96% | -0.69% | 0.11% | -0.38% | 0.64% | 7.73% |
| 2018 | -0.08% | -0.69% | 0.36% | -0.09% | 0.38% | 0.48% | 0.04% | 0.74% | -0.34% | -1.01% | -0.81% | -0.09% | -1.12% |
| 2017 | 0.70% | 0.67% | 0.14% | 0.92% | 0.92% | -0.22% | 0.70% | 0.58% | 0.00% | 0.25% | -0.32% | 0.34% | 4.75% |
| 2016 | 0.10% | 0.54% | 3.13% | 2.65% | 0.97% | 1.40% | 1.73% | 1.39% | 0.58% | -0.22% | -1.44% | 0.80% | 12.18% |
| 2015 | 1.86% | -0.11% | 0.17% | 0.07% | 0.13% | -1.10% | -0.15% | -1.08% | 0.04% | -0.38% | -1.60% | -1.57% | -3.71% |
| 2014 | 1.14% | 1.04% | 0.20% | 0.61% | 1.06% | 0.38% | -0.43% | 1.28% | -0.93% | 0.81% | 0.37% | -0.05% | 5.60% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 76, SMARX is among the top 24% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Brandes Separately Managed Account Reserve Trust (SMARX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Brandes Separately Managed Account Reserve Trust provided a 4.80% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.38 | $0.37 | $0.32 | $0.27 | $0.33 | $0.36 | $0.38 | $0.37 | $0.43 | $0.43 | $0.45 |
Dividend yield | 4.80% | 4.83% | 4.64% | 4.22% | 3.09% | 3.67% | 4.15% | 4.56% | 4.21% | 4.86% | 5.21% | 5.03% |
Monthly Dividends
The table displays the monthly dividend distributions for Brandes Separately Managed Account Reserve Trust. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.01 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.07 | $0.33 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.36 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2016 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.03 | $0.03 | $0.43 |
| 2015 | $0.04 | $0.03 | $0.04 | $0.05 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2014 | $0.04 | $0.03 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.45 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Brandes Separately Managed Account Reserve Trust. 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 Brandes Separately Managed Account Reserve Trust was 37.70%, occurring on Dec 12, 2008. Recovery took 274 trading sessions.
The current Brandes Separately Managed Account Reserve Trust drawdown is 1.48%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -37.7% | Mar 9, 2007 | 447 | Dec 12, 2008 | 274 | Jan 15, 2010 | 721 |
| -15.63% | Sep 16, 2021 | 279 | Oct 21, 2022 | 430 | Jul 11, 2024 | 709 |
| -8.06% | Mar 9, 2020 | 8 | Mar 18, 2020 | 76 | Jul 7, 2020 | 84 |
| -7.23% | Apr 20, 2015 | 205 | Feb 9, 2016 | 56 | Apr 29, 2016 | 261 |
| -6.1% | Jun 2, 2011 | 88 | Oct 5, 2011 | 76 | Jan 25, 2012 | 164 |
Volatility
Volatility Chart
The current Brandes Separately Managed Account Reserve Trust volatility is 1.14%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.