LSMIX vs. LSIOX

Last updated Jun 23, 2026

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

Performance

LSMIX vs. LSIOX - Performance Comparison

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

Returns By Period

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

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%

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%

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

LSMIX vs. LSIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

LSMIX vs. LSIOX — Risk / Return Rank

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

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

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

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.

LSMIX vs. LSIOX - Risk-Adjusted Trends Comparison

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

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

LSMIX vs. LSIOX - Sharpe Ratio Comparison

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

LSMIX vs. LSIOX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

LSMIX vs. LSIOX - Volatility Comparison

Loomis Sayles Small/Mid Cap Growth Fund (LSMIX) has a higher volatility of 6.18% compared to Loomis Sayles High Income Opps Fund (LSIOX) at 0.85%. This indicates that LSMIX's price experiences larger fluctuations and is considered to be riskier than LSIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

LSMIX vs. LSIOX - Expense Ratio Comparison

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

Dividends

LSMIX vs. LSIOX - Dividend Comparison

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

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 LSMIX and LSIOX in my portfolio?

LSMIX and LSIOX 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, LSMIX or LSIOX?

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

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.