AMFIX vs. SMTRX

Last updated Jun 4, 2026

AMFIX (AAMA Income Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.87 suggests significant overlap in exposure. AMFIX charges 0.92%/yr vs 0.99%/yr for SMTRX.

Performance

AMFIX vs. SMTRX - Performance Comparison

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

Returns By Period

AMFIX

• 1D: 0.00%
• 1M: 0.04%
• YTD: 0.30%
• 6M: 0.48%
• 1Y: 2.53%
• 3Y*: 3.31%
• 5Y*: 0.75%
• 10Y*: —

SMTRX

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

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

AMFIX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
AMFIX AAMA Income Fund	0.00%
SMTRX ALPS/Smith Total Return Bond Fund	0.10%

Correlation

The correlation between AMFIX and SMTRX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

Return for Risk

AMFIX vs. SMTRX — Risk / Return Rank

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

AMFIX

AMFIX Risk / Return Rank: 72
AMFIX Sharpe Ratio Rank: 69
AMFIX Sortino Ratio Rank: 80
AMFIX Omega Ratio Rank: 78
AMFIX Calmar Ratio Rank: 76
AMFIX Martin Ratio Rank: 58

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.

AMFIX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAMA Income Fund (AMFIX) 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.

	AMFIX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	—	—
Sortino ratio: Return per unit of downside risk	3.81	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.43	—	—
Martin ratio: Return relative to average drawdown	11.54	—	—
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

	AMFIX	SMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	5.86	-5.30

Drawdowns

AMFIX vs. SMTRX - Drawdown Comparison

The maximum AMFIX drawdown since its inception was -9.35%, which is greater than SMTRX's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for AMFIX and SMTRX.

Drawdown Indicators

	AMFIX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-9.35%	-0.10%	-9.25%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.91%	—	—
Current Drawdown Current decline from peak	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.03%	-0.03%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	—	—

Volatility

Volatility by Period

	AMFIX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.04%	1.90%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.17%	1.90%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.74%	1.90%	-0.16%

AMFIX vs. SMTRX - Expense Ratio Comparison

AMFIX has a 0.92% expense ratio, which is lower than SMTRX's 0.99% expense ratio.

Dividends

AMFIX vs. SMTRX - Dividend Comparison

AMFIX's dividend yield for the trailing twelve months is around 2.21%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFIX AAMA Income Fund	2.21%	2.08%	2.44%	1.70%	0.83%	0.57%	0.83%	1.24%	1.24%	0.40%
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%

Frequently Asked Questions

Can I hold both AMFIX and SMTRX in my portfolio?

AMFIX 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.