ALIBX vs. INDAX

Last updated Apr 1, 2026

Compare and contrast key facts about ALPS/Smith Balanced Opportunity Fund (ALIBX) and ALPS/Kotak India ESG Fund (INDAX).

ALIBX is managed by ALPS. It was launched on Sep 14, 2020. INDAX is managed by ALPS. It was launched on Feb 13, 2011.

Performance

ALIBX vs. INDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Smith Balanced Opportunity Fund (ALIBX) and ALPS/Kotak India ESG Fund (INDAX). The values are adjusted to include any dividend payments, if applicable.

ALIBX vs. INDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ALIBX ALPS/Smith Balanced Opportunity Fund	-2.50%	12.89%	14.89%	16.01%	-16.24%	15.50%	8.25%
INDAX ALPS/Kotak India ESG Fund	-17.72%	2.03%	10.94%	16.77%	-12.62%	26.37%	16.84%

Returns By Period

In the year-to-date period, ALIBX achieves a -2.50% return, which is significantly higher than INDAX's -17.72% return.

ALIBX

• 1D: -0.16%
• 1M: -6.62%
• YTD: -2.50%
• 6M: 0.95%
• 1Y: 12.14%
• 3Y*: 11.65%
• 5Y*: 6.12%
• 10Y*: —

INDAX

• 1D: -1.80%
• 1M: -13.54%
• YTD: -17.72%
• 6M: -15.44%
• 1Y: -12.38%
• 3Y*: 3.65%
• 5Y*: 2.06%
• 10Y*: 6.97%

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

ALIBX vs. INDAX - Expense Ratio Comparison

ALIBX has a 1.12% expense ratio, which is lower than INDAX's 1.33% expense ratio.

INDAX

ALPS/Kotak India ESG Fund

ALIBX

ALPS/Smith Balanced Opportunity Fund

Return for Risk

ALIBX vs. INDAX — Risk / Return Rank

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

ALIBX

ALIBX Risk / Return Rank: 60
ALIBX Sharpe Ratio Rank: 61
ALIBX Sortino Ratio Rank: 62
ALIBX Omega Ratio Rank: 57
ALIBX Calmar Ratio Rank: 59
ALIBX Martin Ratio Rank: 61

INDAX

INDAX Risk / Return Rank: 1
INDAX Sharpe Ratio Rank: 1
INDAX Sortino Ratio Rank: 0
INDAX Omega Ratio Rank: 1
INDAX Calmar Ratio Rank: 1
INDAX Martin Ratio Rank: 0

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.

ALIBX vs. INDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Balanced Opportunity Fund (ALIBX) and ALPS/Kotak India ESG Fund (INDAX). 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.

	ALIBX	INDAX	Difference
Sharpe ratio Return per unit of total volatility	1.11	-0.83	+1.94
Sortino ratio Return per unit of downside risk	1.60	-1.10	+2.70
Omega ratio Gain probability vs. loss probability	1.23	0.87	+0.35
Calmar ratio Return relative to maximum drawdown	1.39	-0.61	+2.00
Martin ratio Return relative to average drawdown	5.82	-2.14	+7.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALIBX vs. INDAX - Sharpe Ratio Comparison

The current ALIBX Sharpe Ratio is 1.11, which is higher than the INDAX Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of ALIBX and INDAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALIBX	INDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	-0.83	+1.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.14	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.34	+0.40

Correlation

The correlation between ALIBX and INDAX is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ALIBX vs. INDAX - Dividend Comparison

ALIBX's dividend yield for the trailing twelve months is around 9.42%, more than INDAX's 6.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALIBX ALPS/Smith Balanced Opportunity Fund	9.42%	9.14%	10.61%	1.37%	1.08%	0.56%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
INDAX ALPS/Kotak India ESG Fund	6.83%	5.62%	16.14%	4.43%	1.65%	5.48%	0.00%	1.30%	6.55%	2.79%	1.32%	15.14%

Drawdowns

ALIBX vs. INDAX - Drawdown Comparison

The maximum ALIBX drawdown since its inception was -20.38%, smaller than the maximum INDAX drawdown of -43.98%. Use the drawdown chart below to compare losses from any high point for ALIBX and INDAX.

Drawdown Indicators

	ALIBX	INDAX	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-43.98%	+23.60%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-20.85%	+12.97%
Max Drawdown (5Y) Largest decline over 5 years	-20.38%	-23.49%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.98%	—
Current Drawdown Current decline from peak	-7.13%	-23.49%	+16.36%
Average Drawdown Average peak-to-trough decline	-4.87%	-10.67%	+5.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	5.92%	-4.04%

Volatility

ALIBX vs. INDAX - Volatility Comparison

The current volatility for ALPS/Smith Balanced Opportunity Fund (ALIBX) is 3.40%, while ALPS/Kotak India ESG Fund (INDAX) has a volatility of 6.24%. This indicates that ALIBX experiences smaller price fluctuations and is considered to be less risky than INDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALIBX	INDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	6.24%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	10.28%	-3.62%
Volatility (1Y) Calculated over the trailing 1-year period	11.44%	14.65%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.10%	14.97%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.02%	16.75%	-5.73%