SABIX vs. SMICX
SABIX (Saratoga Aggressive Balanced Allocation Portfolio) and SMICX (Saratoga Moderately Conservative Balanced Allocation Portfolio) are both Diversified Portfolio funds from Saratoga. Over the past 5 years, SABIX returned 7.87%/yr vs 6.88%/yr for SMICX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.
Performance
SABIX vs. SMICX - Performance Comparison
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Returns By Period
In the year-to-date period, SABIX achieves a 7.60% return, which is significantly higher than SMICX's 6.00% return.
SABIX
- 1D
- 0.15%
- 1M
- 2.84%
- YTD
- 7.60%
- 6M
- 6.54%
- 1Y
- 17.12%
- 3Y*
- 14.35%
- 5Y*
- 7.87%
- 10Y*
- —
SMICX
- 1D
- 0.09%
- 1M
- 2.73%
- YTD
- 6.00%
- 6M
- 5.14%
- 1Y
- 14.09%
- 3Y*
- 12.39%
- 5Y*
- 6.88%
- 10Y*
- —
SABIX vs. SMICX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SABIX Saratoga Aggressive Balanced Allocation Portfolio | 7.60% | 13.01% | 12.49% | 15.20% | -11.36% | 14.93% | 9.53% | 18.72% | -8.74% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 6.00% | 12.07% | 11.02% | 12.83% | -9.82% | 11.85% | 9.22% | 16.62% | -7.42% |
Correlation
The correlation between SABIX and SMICX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.99 |
The correlation between SABIX and SMICX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
SABIX vs. SMICX — Risk / Return Rank
SABIX
SMICX
SABIX vs. SMICX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Aggressive Balanced Allocation Portfolio (SABIX) and Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX). 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.
| SABIX | SMICX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.25 | +0.04 |
| Martin ratioReturn relative to average drawdown | 9.92 | 9.41 | +0.51 |
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Drawdowns
SABIX vs. SMICX - Drawdown Comparison
The maximum SABIX drawdown since its inception was -29.06%, which is greater than SMICX's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for SABIX and SMICX.
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Drawdown Indicators
| SABIX | SMICX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.06% | -22.85% | -6.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -6.64% | -1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -11.42% | -3.16% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -14.24% | -2.96% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -3.37% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.58% | +0.23% |
Volatility
SABIX vs. SMICX - Volatility Comparison
Saratoga Aggressive Balanced Allocation Portfolio (SABIX) has a higher volatility of 4.07% compared to Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) at 3.43%. This indicates that SABIX's price experiences larger fluctuations and is considered to be riskier than SMICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SABIX | SMICX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 3.43% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 8.78% | 7.27% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.91% | 9.02% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.55% | 9.94% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.32% | 11.13% | +3.19% |
SABIX vs. SMICX - Expense Ratio Comparison
Both SABIX and SMICX have an expense ratio of 0.99%.
Dividends
SABIX vs. SMICX - Dividend Comparison
SABIX's dividend yield for the trailing twelve months is around 9.14%, less than SMICX's 10.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SABIX Saratoga Aggressive Balanced Allocation Portfolio | 9.14% | 9.83% | 3.12% | 2.81% | 7.12% | 9.63% | 1.82% | 3.72% | 3.06% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 10.51% | 11.14% | 4.00% | 0.87% | 7.81% | 11.59% | 1.39% | 3.45% | 2.95% |
Frequently Asked Questions
With a correlation of 0.99, SABIX and SMICX 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.
SABIX has higher volatility (4.07%) compared to SMICX (3.43%). In terms of maximum drawdown, SABIX dropped -29.06% vs SMICX's -22.85%.
SMICX currently has the higher Sharpe Ratio (1.66 vs 1.66), 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.
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