LMCLX vs. LMT

Last updated Apr 1, 2026

Compare and contrast key facts about Miller Income Fund (LMCLX) and Lockheed Martin Corporation (LMT).

LMCLX is managed by Miller Value Funds. It was launched on Feb 27, 2014.

Performance

LMCLX vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Income Fund (LMCLX) and Lockheed Martin Corporation (LMT). The values are adjusted to include any dividend payments, if applicable.

LMCLX vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMCLX Miller Income Fund	1.43%	8.40%	27.96%	13.95%	-22.77%	29.14%	-2.83%	26.02%	-8.00%	16.98%
LMT Lockheed Martin Corporation	25.62%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Returns By Period

In the year-to-date period, LMCLX achieves a 1.43% return, which is significantly lower than LMT's 25.62% return. Over the past 10 years, LMCLX has underperformed LMT with an annualized return of 9.37%, while LMT has yielded a comparatively higher 13.44% annualized return.

LMCLX

• 1D: -0.11%
• 1M: -3.56%
• YTD: 1.43%
• 6M: 4.39%
• 1Y: 15.82%
• 3Y*: 18.33%
• 5Y*: 6.38%
• 10Y*: 9.37%

LMT

• 1D: 0.97%
• 1M: -7.67%
• YTD: 25.62%
• 6M: 22.63%
• 1Y: 38.99%
• 3Y*: 11.49%
• 5Y*: 13.27%
• 10Y*: 13.44%

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

Return for Risk

LMCLX vs. LMT — Risk / Return Rank

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

LMCLX

LMCLX Risk / Return Rank: 40
LMCLX Sharpe Ratio Rank: 43
LMCLX Sortino Ratio Rank: 41
LMCLX Omega Ratio Rank: 39
LMCLX Calmar Ratio Rank: 40
LMCLX Martin Ratio Rank: 35

LMT

LMT Risk / Return Rank: 82
LMT Sharpe Ratio Rank: 84
LMT Sortino Ratio Rank: 77
LMT Omega Ratio Rank: 80
LMT Calmar Ratio Rank: 84
LMT Martin Ratio Rank: 83

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.

LMCLX vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Income Fund (LMCLX) and Lockheed Martin Corporation (LMT). 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.

	LMCLX	LMT	Difference
Sharpe ratio Return per unit of total volatility	0.90	1.47	-0.57
Sortino ratio Return per unit of downside risk	1.29	1.90	-0.62
Omega ratio Gain probability vs. loss probability	1.18	1.28	-0.10
Calmar ratio Return relative to maximum drawdown	1.06	2.61	-1.55
Martin ratio Return relative to average drawdown	3.74	6.73	-2.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMCLX vs. LMT - Sharpe Ratio Comparison

The current LMCLX Sharpe Ratio is 0.90, which is lower than the LMT Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of LMCLX and LMT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LMCLX	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.47	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.59	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.57	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.39	-0.03

Correlation

The correlation between LMCLX and LMT is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LMCLX vs. LMT - Dividend Comparison

LMCLX's dividend yield for the trailing twelve months is around 3.54%, more than LMT's 2.23% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMCLX Miller Income Fund	3.54%	3.59%	4.28%	5.81%	6.33%	5.52%	6.04%	8.23%	9.22%	7.97%	8.54%	8.40%
LMT Lockheed Martin Corporation	2.23%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Drawdowns

LMCLX vs. LMT - Drawdown Comparison

The maximum LMCLX drawdown since its inception was -44.81%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for LMCLX and LMT.

Drawdown Indicators

	LMCLX	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-44.81%	-79.29%	+34.48%
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	-15.56%	+1.94%
Max Drawdown (5Y) Largest decline over 5 years	-34.67%	-31.79%	-2.88%
Max Drawdown (10Y) Largest decline over 10 years	-44.81%	-36.67%	-8.14%
Current Drawdown Current decline from peak	-5.06%	-10.69%	+5.63%
Average Drawdown Average peak-to-trough decline	-10.61%	-26.87%	+16.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	6.04%	-2.18%

Volatility

LMCLX vs. LMT - Volatility Comparison

The current volatility for Miller Income Fund (LMCLX) is 4.16%, while Lockheed Martin Corporation (LMT) has a volatility of 6.40%. This indicates that LMCLX experiences smaller price fluctuations and is considered to be less risky than LMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMCLX	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	6.40%	-2.24%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	18.63%	-8.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.39%	26.74%	-8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	22.57%	-4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.56%	23.53%	-5.97%