AVPEX vs. ALIBX
AVPEX (ALPS/Red Rocks Global Opportunity Portfolio) and ALIBX (ALPS/Smith Balanced Opportunity Fund) are both mutual funds - AVPEX is a Global Equities fund managed by ALPS, while ALIBX is a Diversified Portfolio fund managed by ALPS. Over the past 5 years, AVPEX returned 1.55%/yr vs 6.98%/yr for ALIBX. Their correlation of 0.82 means they have usually moved in the same direction. AVPEX charges 1.45%/yr vs 1.12%/yr for ALIBX.
Performance
AVPEX vs. ALIBX - Performance Comparison
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Returns By Period
In the year-to-date period, AVPEX achieves a -6.46% return, which is significantly lower than ALIBX's 7.63% return.
AVPEX
- 1D
- 1.49%
- 1M
- 3.02%
- 6M
- -5.24%
- YTD
- -6.46%
- 1Y
- -7.13%
- 3Y*
- 7.54%
- 5Y*
- 1.55%
- 10Y*
- 8.65%
- ALL TIME*
- 7.84%
ALIBX
- 1D
- 1.11%
- 1M
- -1.83%
- 6M
- 4.33%
- YTD
- 7.63%
- 1Y
- 16.25%
- 3Y*
- 13.04%
- 5Y*
- 6.98%
- 10Y*
- —
- ALL TIME*
- 9.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AVPEX vs. ALIBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AVPEX ALPS/Red Rocks Global Opportunity Portfolio | -6.46% | 1.46% | 18.06% | 28.80% | -28.96% | 24.03% | 16.88% |
ALIBX ALPS/Smith Balanced Opportunity Fund | 7.63% | 12.89% | 14.89% | 16.01% | -16.24% | 15.50% | 8.25% |
Correlation
The correlation between AVPEX and ALIBX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2020 | 0.82 |
The correlation between AVPEX and ALIBX has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.
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Return for Risk
AVPEX vs. ALIBX — Risk / Return Rank
AVPEX
ALIBX
AVPEX vs. ALIBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) and ALPS/Smith Balanced Opportunity Fund (ALIBX). 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.
| AVPEX | ALIBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.29 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.13 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.89 | 9.26 | -10.15 |
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Drawdowns
AVPEX vs. ALIBX - Drawdown Comparison
The maximum AVPEX drawdown since its inception was -46.42%, which is greater than ALIBX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for AVPEX and ALIBX.
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Drawdown Indicators
| AVPEX | ALIBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.42% | -20.38% | -26.04% |
Max Drawdown (1Y)Largest decline over 1 year | -21.97% | -7.13% | -14.84% |
Max Drawdown (3Y)Largest decline over 3 years | -22.41% | -12.65% | -9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -37.50% | -20.38% | -17.12% |
Max Drawdown (10Y)Largest decline over 10 years | -46.42% | — | — |
Current DrawdownCurrent decline from peak | -11.12% | -2.18% | -8.94% |
Average DrawdownAverage peak-to-trough decline | -8.67% | -4.65% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.60% | 1.64% | +8.96% |
Volatility
AVPEX vs. ALIBX - Volatility Comparison
ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) has a higher volatility of 4.93% compared to ALPS/Smith Balanced Opportunity Fund (ALIBX) at 2.29%. This indicates that AVPEX's price experiences larger fluctuations and is considered to be riskier than ALIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVPEX | ALIBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 2.29% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 7.57% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.52% | 9.46% | +9.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 11.25% | +7.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.99% | 10.99% | +8.00% |
AVPEX vs. ALIBX - Expense Ratio Comparison
AVPEX has a 1.45% expense ratio, which is higher than ALIBX's 1.12% expense ratio.
Dividends
AVPEX vs. ALIBX - Dividend Comparison
AVPEX's dividend yield for the trailing twelve months is around 9.09%, more than ALIBX's 8.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALIBX ALPS/Smith Balanced Opportunity Fund | 8.43% | 9.14% | 10.61% | 1.37% | 1.08% | 0.56% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
AVPEX ALPS/Red Rocks Global Opportunity Portfolio | 9.09% | 8.50% | 8.83% | 0.00% | 31.03% | 4.24% | 13.52% | 3.02% | 6.79% | 2.33% | 0.75% | 0.11% |
Frequently Asked Questions
AVPEX and ALIBX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVPEX has higher volatility (4.93%) compared to ALIBX (2.29%). In terms of maximum drawdown, AVPEX dropped -46.42% vs ALIBX's -20.38%.
ALIBX currently has the higher Sharpe Ratio (1.61 vs -0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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