SAMIX vs. SBMIX

Last updated Jun 23, 2026

SAMIX (Saratoga Moderately Aggressive Balanced Allocation Portfolio) and SBMIX (Saratoga Moderate Balanced Allocation Portfolio) are both Diversified Portfolio funds from Saratoga. Over the past 5 years, SAMIX returned 7.56%/yr vs 7.04%/yr for SBMIX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

SAMIX vs. SBMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) and Saratoga Moderate Balanced Allocation Portfolio (SBMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAMIX achieves a 6.56% return, which is significantly higher than SBMIX's 5.77% return.

SAMIX

• 1D: 1.10%
• 1M: 2.56%
• YTD: 6.56%
• 6M: 5.60%
• 1Y: 16.05%
• 3Y*: 12.89%
• 5Y*: 7.56%
• 10Y*: —

SBMIX

• 1D: 1.02%
• 1M: 2.48%
• YTD: 5.77%
• 6M: 4.91%
• 1Y: 14.77%
• 3Y*: 11.92%
• 5Y*: 7.04%
• 10Y*: —

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

SAMIX vs. SBMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	6.56%	12.60%	11.53%	13.68%	-10.56%	14.08%	9.36%	17.88%	-7.82%
SBMIX Saratoga Moderate Balanced Allocation Portfolio	5.77%	12.25%	11.36%	11.96%	-10.38%	13.50%	9.84%	17.05%	-6.88%

Correlation

The correlation between SAMIX and SBMIX is 1.00 - 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	1.00
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 SAMIX and SBMIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

SAMIX vs. SBMIX — Risk / Return Rank

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

SAMIX

SAMIX Risk / Return Rank: 38
SAMIX Sharpe Ratio Rank: 35
SAMIX Sortino Ratio Rank: 36
SAMIX Omega Ratio Rank: 34
SAMIX Calmar Ratio Rank: 37
SAMIX Martin Ratio Rank: 49

SBMIX

SBMIX Risk / Return Rank: 38
SBMIX Sharpe Ratio Rank: 35
SBMIX Sortino Ratio Rank: 36
SBMIX Omega Ratio Rank: 33
SBMIX Calmar Ratio Rank: 36
SBMIX Martin Ratio Rank: 48

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.

SAMIX vs. SBMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) and Saratoga Moderate Balanced Allocation Portfolio (SBMIX). 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.

	SAMIX	SBMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.60	+0.01
Sortino ratio: Return per unit of downside risk	2.32	2.33	-0.01
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	2.21	2.17	+0.03
Martin ratio: Return relative to average drawdown	9.50	9.34	+0.16

SAMIX vs. SBMIX - Sharpe Ratio Comparison

The current SAMIX Sharpe Ratio is 1.61, which is comparable to the SBMIX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SAMIX and SBMIX, 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

SAMIX vs. SBMIX - Drawdown Comparison

The maximum SAMIX drawdown since its inception was -26.06%, which is greater than SBMIX's maximum drawdown of -23.97%. Use the drawdown chart below to compare losses from any high point for SAMIX and SBMIX.

Drawdown Indicators

	SAMIX	SBMIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-23.97%	-2.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-6.85%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-12.90%	-12.14%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-15.54%	-14.92%	-0.62%
Current Drawdown Current decline from peak	-0.08%	-0.08%	0.00%
Average Drawdown Average peak-to-trough decline	-3.78%	-3.46%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.59%	+0.10%

Volatility

SAMIX vs. SBMIX - Volatility Comparison

Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) has a higher volatility of 3.98% compared to Saratoga Moderate Balanced Allocation Portfolio (SBMIX) at 3.68%. This indicates that SAMIX's price experiences larger fluctuations and is considered to be riskier than SBMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAMIX	SBMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.68%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	7.54%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.03%	9.32%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.20%	10.60%	+0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.68%	11.92%	+0.76%

SAMIX vs. SBMIX - Expense Ratio Comparison

Both SAMIX and SBMIX have an expense ratio of 0.99%.

Dividends

SAMIX vs. SBMIX - Dividend Comparison

SAMIX's dividend yield for the trailing twelve months is around 9.63%, which matches SBMIX's 9.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	9.63%	10.26%	3.60%	2.78%	5.82%	8.13%	1.66%	2.44%	3.03%
SBMIX Saratoga Moderate Balanced Allocation Portfolio	9.57%	10.12%	3.70%	1.32%	5.93%	8.04%	1.35%	3.40%	3.11%

Frequently Asked Questions

Can I hold both SAMIX and SBMIX in my portfolio?

With a correlation of 1.00, SAMIX and SBMIX 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.

Which is riskier, SAMIX or SBMIX?

SAMIX has higher volatility (3.98%) compared to SBMIX (3.68%). In terms of maximum drawdown, SAMIX dropped -26.06% vs SBMIX's -23.97%.

Which has better risk-adjusted returns?

SAMIX currently has the higher Sharpe Ratio (1.61 vs 1.60), 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.