FQTIX vs. ICMUX
FQTIX (Franklin Templeton SMACS: Series I) and ICMUX (Intrepid Income Fund) are both mutual funds - FQTIX is a High Yield Bonds fund managed by Franklin Templeton, while ICMUX is a Multisector Bonds fund actively managed by Intrepid. Over the past 5 years, FQTIX returned 3.53%/yr vs 6.14%/yr for ICMUX. Their 0.50 correlation means they have sometimes moved together and sometimes differently. FQTIX charges 0.00%/yr vs 1.01%/yr for ICMUX.
Performance
FQTIX vs. ICMUX - Performance Comparison
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Returns By Period
In the year-to-date period, FQTIX achieves a 3.15% return, which is significantly higher than ICMUX's 2.85% return.
FQTIX
- 1D
- 0.12%
- 1M
- -0.78%
- 6M
- 1.81%
- YTD
- 3.15%
- 1Y
- 7.49%
- 3Y*
- 7.86%
- 5Y*
- 3.53%
- 10Y*
- —
- ALL TIME*
- 4.42%
ICMUX
- 1D
- 0.11%
- 1M
- 0.34%
- 6M
- 2.35%
- YTD
- 2.85%
- 1Y
- 6.60%
- 3Y*
- 8.93%
- 5Y*
- 6.14%
- 10Y*
- 5.73%
- ALL TIME*
- 4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
ICMUX Intrepid Income Fund | $0.00 | $0.00 | $0.00 |
FQTIX vs. ICMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FQTIX Franklin Templeton SMACS: Series I | 3.15% | 7.51% | 8.03% | 13.44% | -14.39% | 8.51% | 3.68% | 4.11% |
ICMUX Intrepid Income Fund | 2.85% | 8.16% | 10.43% | 10.90% | -3.17% | 10.02% | 8.77% | 1.82% |
Correlation
The correlation between FQTIX and ICMUX is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019 | 0.50 |
The correlation between FQTIX and ICMUX shifts across timeframes, from 0.50 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FQTIX vs. ICMUX — Risk / Return Rank
FQTIX
ICMUX
FQTIX vs. ICMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Templeton SMACS: Series I (FQTIX) and Intrepid Income Fund (ICMUX). 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.
| FQTIX | ICMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.79 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 4.83 | -1.45 |
| Martin ratioReturn relative to average drawdown | 16.44 | 16.75 | -0.30 |
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Drawdowns
FQTIX vs. ICMUX - Drawdown Comparison
The maximum FQTIX drawdown since its inception was -24.62%, which is greater than ICMUX's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for FQTIX and ICMUX.
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Drawdown Indicators
| FQTIX | ICMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.62% | -8.77% | -15.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.20% | -1.34% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -5.59% | -3.11% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -5.64% | -13.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.77% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.11% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -0.73% | -3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.39% | +0.06% |
Volatility
FQTIX vs. ICMUX - Volatility Comparison
Franklin Templeton SMACS: Series I (FQTIX) has a higher volatility of 0.60% compared to Intrepid Income Fund (ICMUX) at 0.48%. This indicates that FQTIX's price experiences larger fluctuations and is considered to be riskier than ICMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FQTIX | ICMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.48% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 1.45% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.09% | 1.94% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 2.65% | +3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.64% | 2.57% | +5.07% |
FQTIX vs. ICMUX - Expense Ratio Comparison
FQTIX has a 0.00% expense ratio, which is lower than ICMUX's 1.01% expense ratio.
Dividends
FQTIX vs. ICMUX - Dividend Comparison
FQTIX's dividend yield for the trailing twelve months is around 7.05%, more than ICMUX's 6.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FQTIX Franklin Templeton SMACS: Series I | 7.05% | 5.70% | 7.86% | 7.64% | 8.10% | 7.15% | 6.89% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% |
ICMUX Intrepid Income Fund | 6.89% | 7.96% | 7.85% | 9.10% | 8.17% | 5.99% | 5.56% | 3.35% | 3.07% | 2.86% | 3.01% | 3.53% |
Frequently Asked Questions
FQTIX and ICMUX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FQTIX has higher volatility (0.60%) compared to ICMUX (0.48%). In terms of maximum drawdown, FQTIX dropped -24.62% vs ICMUX's -8.77%.
ICMUX currently has the higher Sharpe Ratio (3.34 vs 2.41), 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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