MWESX vs. SMTRX

Last updated Jun 5, 2026

MWESX (MetWest ESG Securitized Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.95 suggests significant overlap in exposure. MWESX charges 0.49%/yr vs 0.99%/yr for SMTRX.

Performance

MWESX vs. SMTRX - Performance Comparison

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

Returns By Period

MWESX

• 1D: -0.11%
• 1M: 0.14%
• YTD: 0.71%
• 6M: 1.11%
• 1Y: 5.88%
• 3Y*: 7.32%
• 5Y*: —
• 10Y*: —

SMTRX

• 1D: -0.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MWESX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
MWESX MetWest ESG Securitized Fund	0.26%
SMTRX ALPS/Smith Total Return Bond Fund	-0.10%

Correlation

The correlation between MWESX and SMTRX is 0.95, 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	0.95

Return for Risk

MWESX vs. SMTRX — Risk / Return Rank

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

MWESX

MWESX Risk / Return Rank: 37
MWESX Sharpe Ratio Rank: 36
MWESX Sortino Ratio Rank: 40
MWESX Omega Ratio Rank: 36
MWESX Calmar Ratio Rank: 42
MWESX Martin Ratio Rank: 33

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.

MWESX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MetWest ESG Securitized Fund (MWESX) 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.

	MWESX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	—	—
Sortino ratio: Return per unit of downside risk	2.56	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.41	—	—
Martin ratio: Return relative to average drawdown	7.27	—	—
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

	MWESX	SMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	-2.96	+3.15

Drawdowns

MWESX vs. SMTRX - Drawdown Comparison

The maximum MWESX drawdown since its inception was -19.57%, which is greater than SMTRX's maximum drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for MWESX and SMTRX.

Drawdown Indicators

	MWESX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-19.57%	-0.21%	-19.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.40%	—	—
Current Drawdown Current decline from peak	-1.33%	-0.21%	-1.12%
Average Drawdown Average peak-to-trough decline	-6.86%	-0.08%	-6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	—	—

Volatility

Volatility by Period

	MWESX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.91%	2.47%	+1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	2.47%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	2.47%	+4.34%

MWESX vs. SMTRX - Expense Ratio Comparison

MWESX has a 0.49% expense ratio, which is lower than SMTRX's 0.99% expense ratio.

Dividends

MWESX vs. SMTRX - Dividend Comparison

MWESX's dividend yield for the trailing twelve months is around 4.58%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021
MWESX MetWest ESG Securitized Fund	4.58%	4.55%	7.39%	3.63%	2.07%	0.15%
SMTRX ALPS/Smith Total Return Bond Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MWESX and SMTRX in my portfolio?

With a correlation of 0.95, MWESX and SMTRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.