AMFIX vs. SMTRX

Last updated Jul 15, 2026

AMFIX (AAMA Income Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.91 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: -0.12%
• 1M: -0.08%
• 6M: 0.22%
• YTD: 0.26%
• 1Y: 2.11%
• 3Y*: 3.23%
• 5Y*: 0.74%
• 10Y*: —

SMTRX

• 1D: -0.31%
• 1M: -0.59%
• 6M: —
• YTD: —
• 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	-0.59%

Correlation

The correlation between AMFIX and SMTRX is 0.91, 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 28, 2026	0.91

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: 73
AMFIX Sortino Ratio Rank: 77
AMFIX Omega Ratio Rank: 77
AMFIX Calmar Ratio Rank: 81
AMFIX Martin Ratio Rank: 54

SMTRX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

	AMFIX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	—	—
Sortino ratio: Return per unit of downside risk	2.83	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.93	—	—
Martin ratio: Return relative to average drawdown	8.64	—	—

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 -1.34%. 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%	-1.34%	-8.01%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.91%	—	—
Current Drawdown Current decline from peak	-0.43%	-1.34%	+0.91%
Average Drawdown Average peak-to-trough decline	-2.00%	-0.34%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	—	—

Volatility

Volatility by Period

	AMFIX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.15%	3.86%	-2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.18%	3.86%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.74%	3.86%	-2.12%

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 2.23%, more than SMTRX's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMFIX AAMA Income Fund	2.23%	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	0.72%	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?

With a correlation of 0.91, AMFIX and SMTRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.