- ISIN
- US92046L6847
- CUSIP
- 92046L684
- Issuer
- SMI Funds
- Inception Date
- Apr 28, 2015
- Category
- Diversified Portfolio
- Min. Investment
- $500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SMILX Performance Chart
SMI Multi-Strategy Fund (SMILX) is up 13.1% since the beginning of the year. SMILX is currently trading at $12 per share. Investors who bought $1,000 worth of SMILX shares 5 years ago would now be looking at an investment worth $1,436.
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Returns By Period
SMI Multi-Strategy Fund (SMILX) has returned 13.06% so far this year and 26.38% over the past 12 months. Over the last ten years, SMILX has returned 6.63% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SMI Multi-Strategy Fund
- 1D
- 1.16%
- 1M
- 0.41%
- YTD
- 13.06%
- 6M
- 12.22%
- 1Y
- 26.38%
- 3Y*
- 13.73%
- 5Y*
- 7.51%
- 10Y*
- 6.63%
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%
SMILX Monthly Returns History
Based on dividend-adjusted daily data since Dec 31, 2010, SMILX's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +9.2%, while the worst month was Dec 2013 at -8.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, SMILX closed higher 51% of trading days. The best single day was Dec 30, 2021 with a return of +19.0%, while the worst single day was Dec 31, 2021 at -16.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.65% | 3.42% | -5.76% | 6.92% | 3.45% | -0.73% | 13.06% | ||||||
| 2025 | 3.61% | -1.88% | -3.36% | 0.40% | 2.96% | 2.69% | 0.19% | 2.71% | 4.45% | 1.04% | -0.17% | 0.80% | 13.97% |
| 2024 | 0.42% | 3.00% | 2.41% | -3.73% | 4.49% | 2.05% | 1.15% | 1.89% | 1.67% | -1.37% | 5.55% | -4.53% | 13.23% |
| 2023 | 3.63% | -2.23% | 1.41% | 0.64% | -0.85% | 3.22% | 3.01% | -2.42% | -4.86% | -2.71% | 4.69% | 3.41% | 6.59% |
| 2022 | -7.14% | -0.00% | 4.16% | -3.59% | 0.83% | -6.47% | 0.77% | -1.42% | -3.31% | 2.86% | 2.22% | -0.73% | -11.85% |
| 2021 | 1.16% | -0.00% | 1.32% | 3.65% | 1.09% | -0.50% | -0.25% | 2.17% | -4.17% | 5.37% | -2.91% | 2.77% | 9.72% |
Benchmark Metrics
SMI Multi-Strategy Fund has an annualized alpha of -1.07%, beta of 0.53, and R2 of 0.48 versus S&P 500 Index. Calculated based on daily prices since December 31, 2010.
- This fund participated in 68.99% of S&P 500 Index downside but only 50.15% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.53 may look defensive, but with R2 of 0.48 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 0.48 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
- -1.07%
- Beta
- 0.53
- R²
- 0.48
- Upside Capture
- 50.15%
- Downside Capture
- 68.99%
Expense Ratio
SMILX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SMILX 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 Multi-Strategy Fund (SMILX) 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.
| SMILX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 2.78 | +0.44 |
| Martin ratioReturn relative to average drawdown | 12.54 | 12.44 | +0.10 |
Dividends
Dividend History
SMI Multi-Strategy Fund provided a 7.37% dividend yield over the last twelve months, with an annual payout of $0.90 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.90 | $0.90 | $0.64 | $0.08 | $0.03 | $1.98 | $0.04 | $0.04 | $0.30 | $0.12 | $0.08 | $0.30 |
Dividend yield | 7.37% | 8.33% | 6.24% | 0.83% | 0.36% | 19.10% | 0.33% | 0.45% | 3.55% | 1.20% | 0.89% | 3.24% |
Monthly Dividends
The table displays the monthly dividend distributions for SMI Multi-Strategy 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 | $0.90 | $0.90 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.64 | $0.64 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.08 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.03 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.98 | $1.98 |
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 Multi-Strategy 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 Multi-Strategy Fund was 29.75%, occurring on Sep 26, 2022. Recovery took 756 trading sessions.
The current SMI Multi-Strategy Fund drawdown is 1.53%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -29.75%Sep 2022 | 8mo 29d | 3y 6d | 3y 9moDec 2021 - Oct 2025 |
COVID crash2020 | -23.54%Mar 2020 | 29d | 4mo 16d | 5mo 15dFeb 2020 - Aug 2020 |
Rate-hike selloffLate 2018 | -18.65%Dec 2018 | 4y 12mo | 1y 1mo | 6y 1moDec 2013 - Feb 2020 |
2011 correction2011 | -15.05%Oct 2011 | 5mo 4d | 11mo 16d | 1y 4moMay 2011 - Sep 2012 |
2021 pullback2021 | -8.47%Mar 2021 | 16d | 2mo 29d | 3mo 15dFeb 2021 - Jun 2021 |
Drawdown Indicators
| SMILX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.75% | -56.78% | +27.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.14% | -9.10% | +0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -15.09% | -18.90% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -29.75% | -25.43% | -4.32% |
Max Drawdown (10Y)Largest decline over 10 years | -29.75% | -33.92% | +4.17% |
Current DrawdownCurrent decline from peak | -1.53% | -1.80% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -9.10% | -10.71% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.03% | +0.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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