- ISIN
- US92046L7183
- CUSIP
- 92046L718
- Issuer
- SMI Funds
- Inception Date
- Feb 27, 2013
- Category
- Tactical Allocation
- Min. Investment
- $500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SMIDX Performance Chart
SMI Dynamic Allocation Fund (SMIDX) is up 10.3% since the beginning of the year. SMIDX is currently trading at $15 per share. Investors who bought $1,000 worth of SMIDX shares 5 years ago would now be looking at an investment worth $1,420.
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Returns By Period
SMI Dynamic Allocation Fund (SMIDX) has returned 10.26% so far this year and 26.75% over the past 12 months. Over the last ten years, SMIDX has returned 6.57% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SMI Dynamic Allocation Fund
- 1D
- 1.03%
- 1M
- 0.48%
- YTD
- 10.26%
- 6M
- 9.61%
- 1Y
- 26.75%
- 3Y*
- 14.76%
- 5Y*
- 7.27%
- 10Y*
- 6.57%
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%
SMIDX Monthly Returns History
Based on dividend-adjusted daily data since Mar 1, 2013, SMIDX's average daily return is +0.03%, while the average monthly return is +0.52%. At this rate, an investment would double in approximately 11.1 years.
Historically, 61% of months were positive and 39% were negative. The best month was Jul 2020 with a return of +6.8%, while the worst month was Aug 2015 at -6.8%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 7 months.
On a daily basis, SMIDX closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +5.1%, while the worst single day was Aug 24, 2015 at -4.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.42% | 3.59% | -6.30% | 6.65% | 3.26% | -1.21% | 10.26% | ||||||
| 2025 | 2.96% | 0.16% | -1.27% | 1.45% | 2.07% | 2.88% | 0.53% | 2.71% | 4.62% | 2.45% | 1.09% | 0.95% | 22.50% |
| 2024 | -0.70% | 2.28% | 2.57% | -2.84% | 2.84% | 2.76% | 1.14% | 2.01% | 2.13% | -1.08% | 3.67% | -2.44% | 12.76% |
| 2023 | 4.80% | -3.23% | 4.46% | 1.42% | -1.58% | 2.49% | 2.78% | -2.54% | -4.51% | -2.18% | 3.99% | 2.78% | 8.39% |
| 2022 | -6.70% | -2.04% | 3.50% | -3.95% | -2.51% | -4.56% | -0.72% | -2.72% | -2.52% | -0.67% | 2.12% | 0.19% | -19.12% |
| 2021 | -1.93% | -0.25% | 3.54% | 4.37% | 2.05% | 0.75% | 1.11% | 2.12% | -4.66% | 5.04% | -2.79% | 4.34% | 14.00% |
Benchmark Metrics
SMI Dynamic Allocation Fund has an annualized alpha of 1.26%, beta of 0.38, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since March 01, 2013.
- This fund participated in 60.18% of S&P 500 Index downside but only 47.21% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.38 may look defensive, but with R2 of 0.39 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 0.39 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.26%
- Beta
- 0.38
- R²
- 0.39
- Upside Capture
- 47.21%
- Downside Capture
- 60.18%
Expense Ratio
SMIDX has a high expense ratio of 1.19%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SMIDX ranks 59 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 SMI Dynamic Allocation Fund (SMIDX) 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.
| SMIDX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.78 | +0.25 |
| Martin ratioReturn relative to average drawdown | 11.92 | 12.44 | -0.52 |
Dividends
Dividend History
SMI Dynamic Allocation Fund provided a 10.73% dividend yield over the last twelve months, with an annual payout of $1.58 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.58 | $1.58 | $0.78 | $0.02 | $0.00 | $1.04 | $0.66 | $0.15 | $0.17 | $0.11 | $0.03 | $0.14 |
Dividend yield | 10.73% | 11.83% | 6.43% | 0.19% | 0.00% | 7.91% | 5.32% | 1.22% | 1.53% | 0.92% | 0.25% | 1.27% |
Monthly Dividends
The table displays the monthly dividend distributions for SMI Dynamic Allocation 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.58 | $1.58 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.78 | $0.78 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.04 | $1.04 |
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 SMI Dynamic Allocation 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 SMI Dynamic Allocation Fund was 21.99%, occurring on Oct 20, 2022. Recovery took 526 trading sessions.
The current SMI Dynamic Allocation Fund drawdown is 1.67%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -21.99%Oct 2022 | 11mo 15d | 2y 1mo | 3y 14dNov 2021 - Nov 2024 |
2016 correction2016 | -16.58%Jan 2016 | 11mo 28d | 1y 11mo | 2y 11moJan 2015 - Jan 2018 |
Rate-hike selloffLate 2018 | -13.15%Dec 2018 | 10mo 29d | 8mo 14d | 1y 7moJan 2018 - Sep 2019 |
COVID crash2020 | -12.06%Mar 2020 | 6mo 16d | 2mo 21d | 9mo 7dSep 2019 - Jun 2020 |
2013 correction2013 | -10.99%Jun 2013 | 1mo 3d | 8mo 8d | 9mo 11dMay 2013 - Feb 2014 |
Drawdown Indicators
| SMIDX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.99% | -56.78% | +34.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -9.10% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -10.11% | -18.90% | +8.79% |
Max Drawdown (5Y)Largest decline over 5 years | -21.99% | -25.43% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -21.99% | -33.92% | +11.93% |
Current DrawdownCurrent decline from peak | -1.67% | -1.80% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -10.71% | +4.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.03% | +0.19% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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