LPEFX vs. ALIBX

Last updated Jun 24, 2026

LPEFX (ALPS/Red Rocks Global Opportunity Fund) and ALIBX (ALPS/Smith Balanced Opportunity Fund) are both mutual funds - LPEFX is a Global Equities fund managed by ALPS, while ALIBX is a Diversified Portfolio fund managed by ALPS. Over the past 5 years, LPEFX returned 2.02%/yr vs 7.64%/yr for ALIBX. Their correlation of 0.82 suggests significant overlap in exposure. LPEFX charges 1.46%/yr vs 1.12%/yr for ALIBX.

Performance

LPEFX vs. ALIBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Red Rocks Global Opportunity Fund (LPEFX) and ALPS/Smith Balanced Opportunity Fund (ALIBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LPEFX achieves a -7.73% return, which is significantly lower than ALIBX's 8.39% return.

LPEFX

• 1D: -0.76%
• 1M: 0.57%
• YTD: -7.73%
• 6M: -8.54%
• 1Y: -5.41%
• 3Y*: 9.35%
• 5Y*: 2.02%
• 10Y*: 9.63%

ALIBX

• 1D: -0.07%
• 1M: 1.56%
• YTD: 8.39%
• 6M: 7.85%
• 1Y: 21.08%
• 3Y*: 14.61%
• 5Y*: 7.64%
• 10Y*: —

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

LPEFX vs. ALIBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LPEFX ALPS/Red Rocks Global Opportunity Fund	-7.73%	1.25%	17.78%	28.31%	-28.82%	23.70%	16.76%
ALIBX ALPS/Smith Balanced Opportunity Fund	8.39%	12.89%	14.89%	16.01%	-16.24%	15.50%	8.25%

Correlation

The correlation between LPEFX and ALIBX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 6, 2020	0.82

The correlation between LPEFX and ALIBX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

LPEFX vs. ALIBX — Risk / Return Rank

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

LPEFX

LPEFX Risk / Return Rank: 2
LPEFX Sharpe Ratio Rank: 2
LPEFX Sortino Ratio Rank: 2
LPEFX Omega Ratio Rank: 2
LPEFX Calmar Ratio Rank: 2
LPEFX Martin Ratio Rank: 2

ALIBX

ALIBX Risk / Return Rank: 75
ALIBX Sharpe Ratio Rank: 77
ALIBX Sortino Ratio Rank: 76
ALIBX Omega Ratio Rank: 72
ALIBX Calmar Ratio Rank: 70
ALIBX Martin Ratio Rank: 80

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.

LPEFX vs. ALIBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Fund (LPEFX) 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.

	LPEFX	ALIBX	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	2.36	-2.62
Sortino ratio: Return per unit of downside risk	-0.23	3.35	-3.58
Omega ratio: Gain probability vs. loss probability	0.97	1.43	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.21	3.08	-3.29
Martin ratio: Return relative to average drawdown	-0.49	13.91	-14.39

LPEFX vs. ALIBX - Sharpe Ratio Comparison

The current LPEFX Sharpe Ratio is -0.26, which is lower than the ALIBX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of LPEFX and ALIBX, 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

LPEFX vs. ALIBX - Drawdown Comparison

The maximum LPEFX drawdown since its inception was -77.00%, which is greater than ALIBX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for LPEFX and ALIBX.

Drawdown Indicators

	LPEFX	ALIBX	Difference
Max Drawdown Largest peak-to-trough decline	-77.00%	-20.38%	-56.62%
Max Drawdown (1Y) Largest decline over 1 year	-22.00%	-7.13%	-14.87%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-12.65%	-9.35%
Max Drawdown (5Y) Largest decline over 5 years	-49.19%	-20.38%	-28.81%
Max Drawdown (10Y) Largest decline over 10 years	-49.19%	—	—
Current Drawdown Current decline from peak	-19.37%	-0.44%	-18.93%
Average Drawdown Average peak-to-trough decline	-22.75%	-4.72%	-18.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.65%	1.57%	+8.08%

Volatility

LPEFX vs. ALIBX - Volatility Comparison

ALPS/Red Rocks Global Opportunity Fund (LPEFX) has a higher volatility of 6.02% compared to ALPS/Smith Balanced Opportunity Fund (ALIBX) at 3.41%. This indicates that LPEFX'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.

Volatility by Period

	LPEFX	ALIBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	3.41%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	14.92%	7.53%	+7.39%
Volatility (1Y) Calculated over the trailing 1-year period	18.29%	9.32%	+8.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.61%	11.24%	+13.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.88%	11.03%	+11.85%

LPEFX vs. ALIBX - Expense Ratio Comparison

LPEFX has a 1.46% expense ratio, which is higher than ALIBX's 1.12% expense ratio.

Dividends

LPEFX vs. ALIBX - Dividend Comparison

LPEFX's dividend yield for the trailing twelve months is around 16.66%, more than ALIBX's 8.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALIBX ALPS/Smith Balanced Opportunity Fund	8.40%	9.14%	10.61%	1.37%	1.08%	0.56%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
LPEFX ALPS/Red Rocks Global Opportunity Fund	16.66%	15.38%	15.95%	5.56%	0.00%	26.79%	3.96%	21.96%	4.58%	13.29%	1.55%	8.21%

Frequently Asked Questions

Can I hold both LPEFX and ALIBX in my portfolio?

LPEFX and ALIBX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LPEFX or ALIBX?

LPEFX has higher volatility (6.02%) compared to ALIBX (3.41%). In terms of maximum drawdown, LPEFX dropped -77.00% vs ALIBX's -20.38%.

Which has better risk-adjusted returns?

ALIBX currently has the higher Sharpe Ratio (2.36 vs -0.26), 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.