LSIOX vs. LSMIX

Last updated Jun 23, 2026

LSIOX (Loomis Sayles High Income Opps Fund) and LSMIX (Loomis Sayles Small/Mid Cap Growth Fund) are both mutual funds - LSIOX is a High Yield Bonds fund managed by Loomis Sayles Funds, while LSMIX is a Mid Cap Growth Equities fund managed by Loomis Sayles Funds. Over the past 10 years, LSIOX returned 5.70%/yr vs 11.78%/yr for LSMIX. A 0.55 correlation means they provide meaningful diversification when combined. LSIOX charges 0.00%/yr vs 0.99%/yr for LSMIX.

Performance

LSIOX vs. LSMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loomis Sayles High Income Opps Fund (LSIOX) and Loomis Sayles Small/Mid Cap Growth Fund (LSMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSIOX achieves a 2.39% return, which is significantly lower than LSMIX's 16.26% return. Over the past 10 years, LSIOX has underperformed LSMIX with an annualized return of 5.70%, while LSMIX has yielded a comparatively higher 11.78% annualized return.

LSIOX

• 1D: 0.00%
• 1M: 0.74%
• YTD: 2.39%
• 6M: 2.61%
• 1Y: 7.90%
• 3Y*: 9.56%
• 5Y*: 3.74%
• 10Y*: 5.70%

LSMIX

• 1D: 2.19%
• 1M: 6.67%
• YTD: 16.26%
• 6M: 13.44%
• 1Y: 25.84%
• 3Y*: 14.23%
• 5Y*: 4.80%
• 10Y*: 11.78%

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

LSIOX vs. LSMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSIOX Loomis Sayles High Income Opps Fund	2.39%	9.31%	9.95%	10.81%	-12.85%	4.32%	9.25%	13.01%	-2.08%	8.40%
LSMIX Loomis Sayles Small/Mid Cap Growth Fund	16.26%	5.71%	17.74%	6.71%	-27.08%	17.40%	31.56%	35.21%	-7.32%	31.80%

Correlation

The correlation between LSIOX and LSMIX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.55

The correlation between LSIOX and LSMIX shifts across timeframes, from 0.55 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LSIOX vs. LSMIX — Risk / Return Rank

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

LSIOX

LSIOX Risk / Return Rank: 95
LSIOX Sharpe Ratio Rank: 95
LSIOX Sortino Ratio Rank: 96
LSIOX Omega Ratio Rank: 92
LSIOX Calmar Ratio Rank: 95
LSIOX Martin Ratio Rank: 97

LSMIX

LSMIX Risk / Return Rank: 45
LSMIX Sharpe Ratio Rank: 36
LSMIX Sortino Ratio Rank: 42
LSMIX Omega Ratio Rank: 33
LSMIX Calmar Ratio Rank: 59
LSMIX Martin Ratio Rank: 56

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.

LSIOX vs. LSMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loomis Sayles High Income Opps Fund (LSIOX) and Loomis Sayles Small/Mid Cap Growth Fund (LSMIX). 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.

	LSIOX	LSMIX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	1.61	+1.49
Sortino ratio: Return per unit of downside risk	4.96	2.51	+2.45
Omega ratio: Gain probability vs. loss probability	1.66	1.28	+0.37
Calmar ratio: Return relative to maximum drawdown	5.27	2.84	+2.43
Martin ratio: Return relative to average drawdown	23.46	10.69	+12.77

LSIOX vs. LSMIX - Sharpe Ratio Comparison

The current LSIOX Sharpe Ratio is 3.10, which is higher than the LSMIX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of LSIOX and LSMIX, 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

LSIOX vs. LSMIX - Drawdown Comparison

The maximum LSIOX drawdown since its inception was -20.94%, smaller than the maximum LSMIX drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for LSIOX and LSMIX.

Drawdown Indicators

	LSIOX	LSMIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.94%	-36.96%	+16.02%
Max Drawdown (1Y) Largest decline over 1 year	-1.82%	-11.07%	+9.25%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-24.39%	+20.15%
Max Drawdown (5Y) Largest decline over 5 years	-17.13%	-35.49%	+18.36%
Max Drawdown (10Y) Largest decline over 10 years	-20.94%	-36.96%	+16.02%
Current Drawdown Current decline from peak	-0.22%	0.00%	-0.22%
Average Drawdown Average peak-to-trough decline	-2.79%	-9.96%	+7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	2.73%	-2.35%

Volatility

LSIOX vs. LSMIX - Volatility Comparison

The current volatility for Loomis Sayles High Income Opps Fund (LSIOX) is 0.85%, while Loomis Sayles Small/Mid Cap Growth Fund (LSMIX) has a volatility of 6.18%. This indicates that LSIOX experiences smaller price fluctuations and is considered to be less risky than LSMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSIOX	LSMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	6.18%	-5.33%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	15.52%	-13.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	19.53%	-16.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.29%	21.55%	-16.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	21.51%	-15.80%

LSIOX vs. LSMIX - Expense Ratio Comparison

LSIOX has a 0.00% expense ratio, which is lower than LSMIX's 0.99% expense ratio.

Dividends

LSIOX vs. LSMIX - Dividend Comparison

LSIOX's dividend yield for the trailing twelve months is around 6.75%, while LSMIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSIOX Loomis Sayles High Income Opps Fund	6.75%	6.39%	7.34%	7.31%	7.32%	9.02%	5.58%	5.62%	7.50%	5.64%	6.03%	6.18%
LSMIX Loomis Sayles Small/Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	9.95%	0.68%	4.40%	46.82%	0.00%	0.18%	0.00%

Frequently Asked Questions

Can I hold both LSIOX and LSMIX in my portfolio?

LSIOX and LSMIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSIOX or LSMIX?

LSMIX has higher volatility (6.18%) compared to LSIOX (0.85%). In terms of maximum drawdown, LSIOX dropped -20.94% vs LSMIX's -36.96%.

Which has better risk-adjusted returns?

LSIOX currently has the higher Sharpe Ratio (3.10 vs 1.61), 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.