INDAX vs. SMTRX

Last updated Jun 4, 2026

INDAX (ALPS/Kotak India ESG Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both mutual funds - INDAX is a Asia Pacific Equities fund managed by ALPS, while SMTRX is a Intermediate Core-Plus Bond fund managed by ALPS. Their correlation of 0.87 suggests significant overlap in exposure. INDAX charges 1.33%/yr vs 0.99%/yr for SMTRX.

Performance

INDAX vs. SMTRX - Performance Comparison

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

Returns By Period

INDAX

• 1D: -0.44%
• 1M: -2.78%
• YTD: -14.39%
• 6M: -13.28%
• 1Y: -14.47%
• 3Y*: 3.08%
• 5Y*: 1.85%
• 10Y*: 6.87%

SMTRX

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

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

INDAX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
INDAX ALPS/Kotak India ESG Fund	-1.80%
SMTRX ALPS/Smith Total Return Bond Fund	0.10%

Correlation

The correlation between INDAX 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

INDAX vs. SMTRX - Sectors Allocation Comparison

Sectors	INDAX	SMTRX
Financial Services	32.9%	2.4%
Consumer Cyclical	14.8%	-
Industrials	10.4%	-
Technology	8.7%	-
Energy	7.2%	-
Communication Services	7.2%	-
Healthcare	5.8%	-
Basic Materials	5.5%	-
Consumer Defensive	4.3%	-
Real Estate	1.3%	-
Utilities	-	-

Return for Risk

INDAX vs. SMTRX — Risk / Return Rank

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

INDAX

INDAX Risk / Return Rank: 0
INDAX Sharpe Ratio Rank: 0
INDAX Sortino Ratio Rank: 0
INDAX Omega Ratio Rank: 1
INDAX Calmar Ratio Rank: 1
INDAX Martin Ratio Rank: 0

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.

INDAX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Kotak India ESG Fund (INDAX) 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.

	INDAX	SMTRX	Difference
Sharpe ratio Return per unit of total volatility	-1.04	—	—
Sortino ratio Return per unit of downside risk	-1.45	—	—
Omega ratio Gain probability vs. loss probability	0.83	—	—
Calmar ratio Return relative to maximum drawdown	-0.73	—	—
Martin ratio Return relative to average drawdown	-1.72	—	—
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

	INDAX	SMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	5.86	-5.51

Drawdowns

INDAX vs. SMTRX - Drawdown Comparison

The maximum INDAX drawdown since its inception was -43.98%, which is greater than SMTRX's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for INDAX and SMTRX.

Drawdown Indicators

	INDAX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-43.98%	-0.10%	-43.88%
Max Drawdown (1Y) Largest decline over 1 year	-20.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.98%	—	—
Current Drawdown Current decline from peak	-20.39%	0.00%	-20.39%
Average Drawdown Average peak-to-trough decline	-10.76%	-0.03%	-10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.80%	—	—

Volatility

Volatility by Period

	INDAX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	1.90%	+12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	1.90%	+13.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	1.90%	+14.95%

INDAX vs. SMTRX - Expense Ratio Comparison

INDAX has a 1.33% expense ratio, which is higher than SMTRX's 0.99% expense ratio.

Dividends

INDAX vs. SMTRX - Dividend Comparison

INDAX's dividend yield for the trailing twelve months is around 6.57%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDAX ALPS/Kotak India ESG Fund	6.57%	5.62%	16.14%	4.43%	1.65%	5.48%	0.00%	1.30%	6.55%	2.79%	1.32%	15.14%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDAX and SMTRX in my portfolio?

INDAX 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.