SBFCX vs. ARBIX
SBFCX (Victory INCORE Investment Grade Convertible Fund Class A) and ARBIX (Absolute Convertible Arbitrage Fund Institutional Shares) are both mutual funds - SBFCX is a Convertible Bonds fund managed by Victory, while ARBIX is a Multistrategy fund actively managed by Absolute Investment Advisers. Over the past 5 years, SBFCX returned 3.18%/yr vs 5.39%/yr for ARBIX. Their 0.39 correlation means their historical movements had little consistent relationship. SBFCX charges 1.39%/yr vs 1.47%/yr for ARBIX.
Performance
SBFCX vs. ARBIX - Performance Comparison
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Returns By Period
In the year-to-date period, SBFCX achieves a 3.98% return, which is significantly lower than ARBIX's 5.14% return.
SBFCX
- 1D
- 0.59%
- 1M
- -0.95%
- 6M
- 3.13%
- YTD
- 3.98%
- 1Y
- 5.86%
- 3Y*
- 6.96%
- 5Y*
- 3.18%
- 10Y*
- 7.22%
- ALL TIME*
- 6.69%
ARBIX
- 1D
- 0.00%
- 1M
- 0.08%
- 6M
- 3.78%
- YTD
- 5.14%
- 1Y
- 8.83%
- 3Y*
- 7.59%
- 5Y*
- 5.39%
- 10Y*
- —
- ALL TIME*
- 72.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SBFCX vs. ARBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBFCX Victory INCORE Investment Grade Convertible Fund Class A | 3.98% | 5.07% | 9.48% | 7.98% | -11.63% | 10.90% | 11.35% | 19.84% | -0.44% | 6.19% |
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares | 5.14% | 8.29% | 7.53% | 5.30% | -0.53% | 2.95% | 9.28% | 6.38% | 2.07% | 8,411.75% |
Correlation
The correlation between SBFCX and ARBIX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2017 | 0.39 |
The correlation between SBFCX and ARBIX shifts across timeframes, from 0.30 (3 years) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SBFCX vs. ARBIX — Risk / Return Rank
SBFCX
ARBIX
SBFCX vs. ARBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victory INCORE Investment Grade Convertible Fund Class A (SBFCX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). 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.
| SBFCX | ARBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.18 | ||
| Sortino ratioReturn per unit of downside risk | -11.44 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 3.26 | -2.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 17.16 | -15.91 |
| Martin ratioReturn relative to average drawdown | 4.28 | 90.76 | -86.48 |
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Drawdowns
SBFCX vs. ARBIX - Drawdown Comparison
The maximum SBFCX drawdown since its inception was -47.88%, which is greater than ARBIX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for SBFCX and ARBIX.
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Drawdown Indicators
| SBFCX | ARBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.88% | -4.31% | -43.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -0.51% | -3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.68% | -1.77% | -6.91% |
Max Drawdown (5Y)Largest decline over 5 years | -15.06% | -4.02% | -11.04% |
Max Drawdown (10Y)Largest decline over 10 years | -23.79% | — | — |
Current DrawdownCurrent decline from peak | -2.34% | -0.25% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -0.39% | -5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 0.10% | +1.15% |
Volatility
SBFCX vs. ARBIX - Volatility Comparison
Victory INCORE Investment Grade Convertible Fund Class A (SBFCX) has a higher volatility of 1.53% compared to Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) at 0.36%. This indicates that SBFCX's price experiences larger fluctuations and is considered to be riskier than ARBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBFCX | ARBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 0.36% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 5.13% | 0.96% | +4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 1.25% | +5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.22% | 1.83% | +6.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 731.73% | -722.21% |
SBFCX vs. ARBIX - Expense Ratio Comparison
SBFCX has a 1.39% expense ratio, which is lower than ARBIX's 1.47% expense ratio.
Dividends
SBFCX vs. ARBIX - Dividend Comparison
SBFCX's dividend yield for the trailing twelve months is around 3.12%, less than ARBIX's 5.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares | 5.42% | 5.34% | 4.87% | 3.62% | 3.33% | 3.12% | 2.92% | 2.83% | 1.97% | 0.24% | 0.00% | 0.00% |
SBFCX Victory INCORE Investment Grade Convertible Fund Class A | 3.12% | 4.35% | 1.87% | 2.84% | 2.19% | 9.86% | 4.88% | 4.94% | 5.66% | 3.13% | 1.38% | 2.53% |
Frequently Asked Questions
SBFCX and ARBIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBFCX has higher volatility (1.53%) compared to ARBIX (0.36%). In terms of maximum drawdown, SBFCX dropped -47.88% vs ARBIX's -4.31%.
ARBIX currently has the higher Sharpe Ratio (7.02 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.
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