AAIIX vs. SMTRX

Last updated Jun 4, 2026

AAIIX (Ancora Income Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. At a correlation of -0.87, they often move in opposite directions. AAIIX charges 2.20%/yr vs 0.99%/yr for SMTRX.

Performance

AAIIX vs. SMTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ancora Income Fund (AAIIX) and ALPS/Smith Total Return Bond Fund (SMTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAIIX

• 1D: -0.28%
• 1M: -0.35%
• YTD: 2.39%
• 6M: 2.46%
• 1Y: 7.71%
• 3Y*: 6.83%
• 5Y*: 2.02%
• 10Y*: 3.17%

SMTRX

• 1D: 0.10%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAIIX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
AAIIX Ancora Income Fund	-0.14%
SMTRX ALPS/Smith Total Return Bond Fund	0.10%

Correlation

The correlation between AAIIX and SMTRX is -0.87, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.87

Return for Risk

AAIIX vs. SMTRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAIIX

AAIIX Risk / Return Rank: 34
AAIIX Sharpe Ratio Rank: 39
AAIIX Sortino Ratio Rank: 39
AAIIX Omega Ratio Rank: 41
AAIIX Calmar Ratio Rank: 27
AAIIX Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAIIX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ancora Income Fund (AAIIX) and ALPS/Smith Total Return Bond Fund (SMTRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAIIX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	—	—
Sortino ratio: Return per unit of downside risk	2.62	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	1.92	—	—
Martin ratio: Return relative to average drawdown	6.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	AAIIX	SMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	5.86	-5.86

Drawdowns

AAIIX vs. SMTRX - Drawdown Comparison

The maximum AAIIX drawdown since its inception was -98.01%, which is greater than SMTRX's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for AAIIX and SMTRX.

Drawdown Indicators

	AAIIX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-98.01%	-0.10%	-97.91%
Max Drawdown (1Y) Largest decline over 1 year	-4.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-98.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-98.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.01%	—	—
Current Drawdown Current decline from peak	-97.78%	0.00%	-97.78%
Average Drawdown Average peak-to-trough decline	-12.34%	-0.03%	-12.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	—	—

Volatility

Volatility by Period

	AAIIX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	1.90%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2,044.45%	1.90%	+2,042.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,445.64%	1.90%	+1,443.74%

AAIIX vs. SMTRX - Expense Ratio Comparison

AAIIX has a 2.20% expense ratio, which is higher than SMTRX's 0.99% expense ratio.

Dividends

AAIIX vs. SMTRX - Dividend Comparison

AAIIX's dividend yield for the trailing twelve months is around 5.20%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIIX Ancora Income Fund	5.20%	4.09%	4.57%	4.77%	4.52%	4.46%	5.68%	3.96%	4.36%	5.69%	6.40%	6.99%
SMTRX ALPS/Smith Total Return Bond Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAIIX and SMTRX in my portfolio?

AAIIX and SMTRX have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.