DLDFX vs. SMRSX

Last updated Jun 24, 2026

DLDFX (Destinations Low Duration Fixed Income Fund) and SMRSX (ALPS/Smith Short Duration Bond Fund) are both Short-Term Bond funds. Over the past 5 years, DLDFX returned 3.87%/yr vs 2.19%/yr for SMRSX. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.93% expense ratio.

Performance

DLDFX vs. SMRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Destinations Low Duration Fixed Income Fund (DLDFX) and ALPS/Smith Short Duration Bond Fund (SMRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLDFX achieves a 1.72% return, which is significantly higher than SMRSX's 0.55% return.

DLDFX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 1.72%
• 6M: 1.98%
• 1Y: 4.66%
• 3Y*: 5.83%
• 5Y*: 3.87%
• 10Y*: —

SMRSX

• 1D: -0.10%
• 1M: 0.23%
• YTD: 0.55%
• 6M: 0.81%
• 1Y: 3.21%
• 3Y*: 4.68%
• 5Y*: 2.19%
• 10Y*: —

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

DLDFX vs. SMRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DLDFX Destinations Low Duration Fixed Income Fund	1.72%	4.91%	6.09%	7.11%	-2.59%	5.41%	1.52%	1.16%
SMRSX ALPS/Smith Short Duration Bond Fund	0.55%	5.38%	4.50%	4.73%	-3.47%	-0.39%	6.27%	2.10%

Correlation

The correlation between DLDFX and SMRSX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019	0.41

The correlation between DLDFX and SMRSX has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

Return for Risk

DLDFX vs. SMRSX — Risk / Return Rank

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

DLDFX

DLDFX Risk / Return Rank: 95
DLDFX Sharpe Ratio Rank: 89
DLDFX Sortino Ratio Rank: 95
DLDFX Omega Ratio Rank: 96
DLDFX Calmar Ratio Rank: 98
DLDFX Martin Ratio Rank: 96

SMRSX

SMRSX Risk / Return Rank: 84
SMRSX Sharpe Ratio Rank: 80
SMRSX Sortino Ratio Rank: 86
SMRSX Omega Ratio Rank: 88
SMRSX Calmar Ratio Rank: 81
SMRSX Martin Ratio Rank: 84

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.

DLDFX vs. SMRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Destinations Low Duration Fixed Income Fund (DLDFX) and ALPS/Smith Short Duration Bond Fund (SMRSX). 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.

	DLDFX	SMRSX	Difference
Sharpe ratio: Return per unit of total volatility	2.73	2.42	+0.31
Sortino ratio: Return per unit of downside risk	4.67	3.80	+0.87
Omega ratio: Gain probability vs. loss probability	1.79	1.57	+0.22
Calmar ratio: Return relative to maximum drawdown	7.31	3.52	+3.80
Martin ratio: Return relative to average drawdown	21.51	14.54	+6.97

DLDFX vs. SMRSX - Sharpe Ratio Comparison

The current DLDFX Sharpe Ratio is 2.73, which is comparable to the SMRSX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of DLDFX and SMRSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLDFX vs. SMRSX - Drawdown Comparison

The maximum DLDFX drawdown since its inception was -8.64%, which is greater than SMRSX's maximum drawdown of -5.62%. Use the drawdown chart below to compare losses from any high point for DLDFX and SMRSX.

Drawdown Indicators

	DLDFX	SMRSX	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-5.62%	-3.02%
Max Drawdown (1Y) Largest decline over 1 year	-0.64%	-0.95%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	-0.95%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-3.88%	-5.62%	+1.74%
Current Drawdown Current decline from peak	-0.11%	-0.20%	+0.09%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.85%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.23%	-0.02%

Volatility

DLDFX vs. SMRSX - Volatility Comparison

Destinations Low Duration Fixed Income Fund (DLDFX) and ALPS/Smith Short Duration Bond Fund (SMRSX) have volatilities of 0.44% and 0.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLDFX	SMRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.45%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.32%	1.05%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	1.72%	1.38%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.81%	1.70%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.07%	1.59%	+0.48%

DLDFX vs. SMRSX - Expense Ratio Comparison

Both DLDFX and SMRSX have an expense ratio of 0.93%.

Dividends

DLDFX vs. SMRSX - Dividend Comparison

DLDFX's dividend yield for the trailing twelve months is around 5.33%, more than SMRSX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DLDFX Destinations Low Duration Fixed Income Fund	5.33%	5.29%	5.64%	4.77%	4.54%	3.74%	3.86%	2.18%	0.00%
SMRSX ALPS/Smith Short Duration Bond Fund	3.87%	3.95%	4.11%	3.50%	0.84%	0.56%	1.92%	2.86%	0.87%

Frequently Asked Questions

Can I hold both DLDFX and SMRSX in my portfolio?

DLDFX and SMRSX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLDFX or SMRSX?

SMRSX has higher volatility (0.45%) compared to DLDFX (0.44%). In terms of maximum drawdown, DLDFX dropped -8.64% vs SMRSX's -5.62%.

Which has better risk-adjusted returns?

DLDFX currently has the higher Sharpe Ratio (2.73 vs 2.42), 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.