- Issuer
- ALPS
- Inception Date
- Sep 14, 2020
- Category
- Multisector Bonds
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
SMCVX Performance Chart
ALPS/Smith Credit Opportunities Fund (SMCVX) is up 1.1% since the beginning of the year. SMCVX is currently trading at $9 per share. Investors who bought $1,000 worth of SMCVX shares 5 years ago would now be looking at an investment worth $1,057.
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Returns By Period
ALPS/Smith Credit Opportunities Fund (SMCVX) has returned 1.08% so far this year and 5.65% over the past 12 months.
ALPS/Smith Credit Opportunities Fund
- 1D
- 0.11%
- 1M
- 0.70%
- YTD
- 1.08%
- 6M
- 0.76%
- 1Y
- 5.65%
- 3Y*
- 5.77%
- 5Y*
- 1.12%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
SMCVX Monthly Returns History
Based on dividend-adjusted daily data since Oct 12, 2020, SMCVX's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, an investment would double in approximately 32.1 years.
Historically, 54% of months were positive and 46% were negative. The best month was Nov 2023 with a return of +4.5%, while the worst month was Jun 2022 at -5.3%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SMCVX closed higher 43% of trading days. The best single day was Nov 10, 2022 with a return of +1.1%, while the worst single day was Jun 13, 2022 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.16% | 0.92% | -1.63% | 1.06% | 0.58% | 0.00% | 1.08% | ||||||
| 2025 | 0.55% | 0.76% | -0.69% | -0.52% | 0.56% | 1.62% | -0.02% | 1.16% | 1.00% | 0.35% | 0.65% | -0.32% | 5.21% |
| 2024 | 1.09% | -0.48% | 0.77% | -1.37% | 1.26% | 0.66% | 1.90% | 1.15% | 1.16% | -0.90% | 0.95% | -1.29% | 4.93% |
| 2023 | 3.64% | -1.89% | -0.41% | 0.61% | -0.93% | 0.87% | 1.34% | -0.22% | -1.59% | -1.96% | 4.48% | 3.40% | 7.29% |
| 2022 | -2.53% | -1.68% | -1.61% | -2.96% | -0.45% | -5.31% | 3.82% | -1.95% | -3.86% | 1.60% | 1.85% | -0.34% | -12.95% |
| 2021 | -0.02% | -0.26% | -0.35% | 1.26% | 0.42% | 0.86% | 0.60% | 0.22% | -0.29% | -0.38% | -0.74% | 1.28% | 2.62% |
Benchmark Metrics
ALPS/Smith Credit Opportunities Fund has an annualized alpha of 0.40%, beta of 0.11, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since October 13, 2020.
- This fund participated in 38.09% of S&P 500 Index downside but only 20.57% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.11 may look defensive, but with R2 of 0.22 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.22 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.40%
- Beta
- 0.11
- R²
- 0.22
- Upside Capture
- 20.57%
- Downside Capture
- 38.09%
Expense Ratio
SMCVX has a high expense ratio of 1.17%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SMCVX ranks 45 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ALPS/Smith Credit Opportunities Fund (SMCVX) and compare them to S&P 500 Index.
| SMCVX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.01 | 2.24 | -0.23 |
Sortino ratioReturn per unit of downside risk | 2.88 | 3.07 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.93 | -0.79 |
Martin ratioReturn relative to average drawdown | 9.92 | 13.52 | -3.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
ALPS/Smith Credit Opportunities Fund provided a 4.98% dividend yield over the last twelve months, with an annual payout of $0.45 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.45 | $0.44 | $0.42 | $0.38 | $0.20 | $0.25 | $0.08 |
Dividend yield | 4.98% | 4.74% | 4.60% | 4.15% | 2.21% | 2.40% | 0.75% |
Monthly Dividends
The table displays the monthly dividend distributions for ALPS/Smith Credit Opportunities 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 | $0.03 | $0.03 | $0.00 | $0.04 | $0.04 | $0.00 | $0.15 | ||||||
| 2025 | $0.00 | $0.00 | $0.05 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2024 | $0.04 | $0.05 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.00 | $0.42 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.04 | $0.38 |
| 2022 | $0.03 | $0.00 | $0.00 | $0.03 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.03 | $0.04 | $0.20 |
| 2021 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.06 | $0.25 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ALPS/Smith Credit Opportunities 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 ALPS/Smith Credit Opportunities Fund was 16.11%, occurring on Sep 29, 2022. Recovery took 711 trading sessions.
The current ALPS/Smith Credit Opportunities Fund drawdown is 0.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -16.11%Sep 2022 | 1y 13d | 2y 10mo | 3y 10moSep 2021 - Aug 2025 |
2026 pullback2026 | -2.71%Mar 2026 | 28d | — | 3mo 7dFeb 2026 - now |
2021 pullback2021 | -2.08%Mar 2021 | 1mo 4d | 1mo 18d | 2mo 22dFeb 2021 - May 2021 |
2025 pullback2025 | -0.73%Nov 2025 | 7d | 21d | 28dOct 2025 - Nov 2025 |
2025 pullback2025 | -0.65%Dec 2025 | 8d | 1mo 15d | 1mo 23dDec 2025 - Jan 2026 |
Drawdown Indicators
| SMCVX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.11% | -56.78% | +40.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -9.10% | +6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -3.73% | -18.90% | +15.17% |
Max Drawdown (5Y)Largest decline over 5 years | -16.11% | -25.43% | +9.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.74% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -10.72% | +5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 1.97% | -1.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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