ONERX vs. SMMIX

Last updated Jun 25, 2026

ONERX (One Rock Fund) and SMMIX (Invesco Summit Fund) are both Large Cap Growth Equities funds. Over the past 5 years, ONERX returned 31.43%/yr vs 6.98%/yr for SMMIX. Their correlation of 0.89 suggests significant overlap in exposure. ONERX charges 1.75%/yr vs 0.84%/yr for SMMIX.

Performance

ONERX vs. SMMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in One Rock Fund (ONERX) and Invesco Summit Fund (SMMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONERX achieves a 58.60% return, which is significantly higher than SMMIX's 5.46% return.

ONERX

• 1D: -6.40%
• 1M: 6.21%
• YTD: 58.60%
• 6M: 52.61%
• 1Y: 104.54%
• 3Y*: 52.42%
• 5Y*: 31.43%
• 10Y*: —

SMMIX

• 1D: -3.59%
• 1M: -0.20%
• YTD: 5.46%
• 6M: 3.27%
• 1Y: 15.94%
• 3Y*: 20.03%
• 5Y*: 6.98%
• 10Y*: 15.75%

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

ONERX vs. SMMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ONERX One Rock Fund	58.60%	49.37%	21.76%	72.41%	-42.06%	45.70%	104.46%
SMMIX Invesco Summit Fund	5.46%	11.08%	34.36%	36.82%	-33.12%	10.71%	80.85%

Correlation

The correlation between ONERX and SMMIX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 13, 2020	0.89

The correlation between ONERX and SMMIX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

ONERX vs. SMMIX — Risk / Return Rank

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

ONERX

ONERX Risk / Return Rank: 82
ONERX Sharpe Ratio Rank: 91
ONERX Sortino Ratio Rank: 60
ONERX Omega Ratio Rank: 66
ONERX Calmar Ratio Rank: 97
ONERX Martin Ratio Rank: 96

SMMIX

SMMIX Risk / Return Rank: 11
SMMIX Sharpe Ratio Rank: 12
SMMIX Sortino Ratio Rank: 12
SMMIX Omega Ratio Rank: 12
SMMIX Calmar Ratio Rank: 11
SMMIX Martin Ratio Rank: 10

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.

ONERX vs. SMMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for One Rock Fund (ONERX) and Invesco Summit Fund (SMMIX). 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.

	ONERX	SMMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.78	0.84	+1.94
Sortino ratio: Return per unit of downside risk	2.94	1.23	+1.71
Omega ratio: Gain probability vs. loss probability	1.41	1.16	+0.25
Calmar ratio: Return relative to maximum drawdown	6.41	0.92	+5.49
Martin ratio: Return relative to average drawdown	21.64	2.68	+18.96

ONERX vs. SMMIX - Sharpe Ratio Comparison

The current ONERX Sharpe Ratio is 2.78, which is higher than the SMMIX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of ONERX and SMMIX, 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

ONERX vs. SMMIX - Drawdown Comparison

The maximum ONERX drawdown since its inception was -47.44%, smaller than the maximum SMMIX drawdown of -69.64%. Use the drawdown chart below to compare losses from any high point for ONERX and SMMIX.

Drawdown Indicators

	ONERX	SMMIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.44%	-69.64%	+22.20%
Max Drawdown (1Y) Largest decline over 1 year	-17.63%	-19.95%	+2.32%
Max Drawdown (3Y) Largest decline over 3 years	-47.44%	-28.51%	-18.93%
Max Drawdown (5Y) Largest decline over 5 years	-47.44%	-40.62%	-6.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.62%	—
Current Drawdown Current decline from peak	-6.40%	-3.62%	-2.78%
Average Drawdown Average peak-to-trough decline	-13.71%	-19.24%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.21%	6.80%	-1.59%

Volatility

ONERX vs. SMMIX - Volatility Comparison

One Rock Fund (ONERX) has a higher volatility of 16.64% compared to Invesco Summit Fund (SMMIX) at 9.41%. This indicates that ONERX's price experiences larger fluctuations and is considered to be riskier than SMMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONERX	SMMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	9.41%	+7.23%
Volatility (6M) Calculated over the trailing 6-month period	32.58%	17.21%	+15.37%
Volatility (1Y) Calculated over the trailing 1-year period	40.63%	21.83%	+18.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.70%	24.33%	+15.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.51%	23.03%	+15.48%

ONERX vs. SMMIX - Expense Ratio Comparison

ONERX has a 1.75% expense ratio, which is higher than SMMIX's 0.84% expense ratio.

Dividends

ONERX vs. SMMIX - Dividend Comparison

ONERX's dividend yield for the trailing twelve months is around 15.21%, more than SMMIX's 14.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONERX One Rock Fund	15.21%	24.12%	0.00%	0.00%	10.57%	28.88%	18.66%	0.00%	0.00%	0.00%	0.00%	0.00%
SMMIX Invesco Summit Fund	14.01%	14.78%	2.01%	0.00%	10.02%	20.10%	6.46%	8.44%	12.16%	3.77%	6.28%	6.88%

Frequently Asked Questions

Can I hold both ONERX and SMMIX in my portfolio?

ONERX and SMMIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONERX or SMMIX?

ONERX has higher volatility (16.64%) compared to SMMIX (9.41%). In terms of maximum drawdown, ONERX dropped -47.44% vs SMMIX's -69.64%.

Which has better risk-adjusted returns?

ONERX currently has the higher Sharpe Ratio (2.78 vs 0.84), 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.