SAOAX vs. GIOIX
Compare and contrast key facts about Guggenheim Alpha Opportunity Fund (SAOAX) and Guggenheim Macro Opportunities Fund (GIOIX).
SAOAX is managed by Guggenheim. It was launched on Jul 6, 2003. GIOIX is an actively managed fund by Guggenheim. It was launched on Nov 29, 2011.
Performance
SAOAX vs. GIOIX - Performance Comparison
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SAOAX vs. GIOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAOAX Guggenheim Alpha Opportunity Fund | 10.14% | -2.00% | 10.49% | 8.81% | -8.66% | 14.38% | 0.17% | -2.26% | -11.25% | 7.48% |
GIOIX Guggenheim Macro Opportunities Fund | -0.95% | 7.64% | 7.78% | 9.69% | -9.57% | 1.71% | 11.09% | 2.25% | 0.46% | 5.32% |
Returns By Period
In the year-to-date period, SAOAX achieves a 10.14% return, which is significantly higher than GIOIX's -0.95% return. Over the past 10 years, SAOAX has underperformed GIOIX with an annualized return of 2.89%, while GIOIX has yielded a comparatively higher 4.39% annualized return.
SAOAX
- 1D
- -0.44%
- 1M
- -0.47%
- YTD
- 10.14%
- 6M
- 11.43%
- 1Y
- 2.82%
- 3Y*
- 7.96%
- 5Y*
- 4.58%
- 10Y*
- 2.89%
GIOIX
- 1D
- 0.24%
- 1M
- -1.45%
- YTD
- -0.95%
- 6M
- 0.51%
- 1Y
- 4.91%
- 3Y*
- 6.97%
- 5Y*
- 3.06%
- 10Y*
- 4.39%
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SAOAX vs. GIOIX - Expense Ratio Comparison
SAOAX has a 1.76% expense ratio, which is higher than GIOIX's 0.96% expense ratio.
Return for Risk
SAOAX vs. GIOIX — Risk / Return Rank
SAOAX
GIOIX
SAOAX vs. GIOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Guggenheim Alpha Opportunity Fund (SAOAX) and Guggenheim Macro Opportunities Fund (GIOIX). 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.
| SAOAX | GIOIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.10 | 2.10 | -2.01 |
Sortino ratioReturn per unit of downside risk | 0.66 | 3.46 | -2.80 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.50 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.56 | -2.41 |
Martin ratioReturn relative to average drawdown | 0.73 | 10.90 | -10.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SAOAX | GIOIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.10 | 2.10 | -2.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.98 | -0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 1.54 | -1.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 1.71 | -1.41 |
Correlation
The correlation between SAOAX and GIOIX is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SAOAX vs. GIOIX - Dividend Comparison
SAOAX's dividend yield for the trailing twelve months is around 0.65%, less than GIOIX's 5.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SAOAX Guggenheim Alpha Opportunity Fund | 0.65% | 0.71% | 1.06% | 0.62% | 0.72% | 0.82% | 1.22% | 0.92% | 1.17% | 7.07% | 0.03% | 0.00% |
GIOIX Guggenheim Macro Opportunities Fund | 5.59% | 5.86% | 5.88% | 6.45% | 3.78% | 3.10% | 3.61% | 3.29% | 3.55% | 3.54% | 5.38% | 5.82% |
Drawdowns
SAOAX vs. GIOIX - Drawdown Comparison
The maximum SAOAX drawdown since its inception was -52.28%, which is greater than GIOIX's maximum drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for SAOAX and GIOIX.
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Drawdown Indicators
| SAOAX | GIOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.28% | -13.38% | -38.90% |
Max Drawdown (1Y)Largest decline over 1 year | -35.08% | -2.12% | -32.96% |
Max Drawdown (5Y)Largest decline over 5 years | -35.90% | -13.38% | -22.52% |
Max Drawdown (10Y)Largest decline over 10 years | -35.90% | -13.38% | -22.52% |
Current DrawdownCurrent decline from peak | -0.47% | -1.68% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -8.77% | -1.43% | -7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.97% | 0.50% | +6.47% |
Volatility
SAOAX vs. GIOIX - Volatility Comparison
Guggenheim Alpha Opportunity Fund (SAOAX) has a higher volatility of 2.82% compared to Guggenheim Macro Opportunities Fund (GIOIX) at 0.97%. This indicates that SAOAX's price experiences larger fluctuations and is considered to be riskier than GIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAOAX | GIOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 0.97% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 6.04% | 1.61% | +4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.36% | 2.44% | +58.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.68% | 3.13% | +25.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.13% | 2.87% | +18.26% |