SBMIX vs. CONWX

Last updated Jun 4, 2026

SBMIX (Saratoga Moderate Balanced Allocation Portfolio) and CONWX (Concorde Wealth Management Fund) are both Diversified Portfolio funds. Over the past 5 years, SBMIX returned 6.73%/yr vs 6.49%/yr for CONWX. A 0.78 correlation means they provide meaningful diversification when combined. SBMIX charges 0.99%/yr vs 1.41%/yr for CONWX.

Performance

SBMIX vs. CONWX - Performance Comparison

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

Returns By Period

In the year-to-date period, SBMIX achieves a 5.28% return, which is significantly lower than CONWX's 6.98% return.

SBMIX

• 1D: 0.47%
• 1M: 2.98%
• YTD: 5.28%
• 6M: 5.18%
• 1Y: 14.61%
• 3Y*: 12.35%
• 5Y*: 6.73%
• 10Y*: —

CONWX

• 1D: 0.29%
• 1M: -0.77%
• YTD: 6.98%
• 6M: 6.89%
• 1Y: 16.04%
• 3Y*: 12.21%
• 5Y*: 6.49%
• 10Y*: 8.21%

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

SBMIX vs. CONWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SBMIX Saratoga Moderate Balanced Allocation Portfolio	5.28%	12.25%	11.36%	11.96%	-10.38%	13.50%	9.84%	17.05%	-6.88%
CONWX Concorde Wealth Management Fund	6.98%	11.95%	13.58%	0.20%	-2.51%	19.73%	8.76%	16.84%	-4.55%

Correlation

The correlation between SBMIX and CONWX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018	0.78

Over the past year, the correlation between SBMIX and CONWX has dropped to 0.44 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

SBMIX vs. CONWX — Risk / Return Rank

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

SBMIX

SBMIX Risk / Return Rank: 37
SBMIX Sharpe Ratio Rank: 35
SBMIX Sortino Ratio Rank: 36
SBMIX Omega Ratio Rank: 34
SBMIX Calmar Ratio Rank: 35
SBMIX Martin Ratio Rank: 46

CONWX

CONWX Risk / Return Rank: 71
CONWX Sharpe Ratio Rank: 66
CONWX Sortino Ratio Rank: 70
CONWX Omega Ratio Rank: 60
CONWX Calmar Ratio Rank: 89
CONWX Martin Ratio Rank: 68

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.

SBMIX vs. CONWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Moderate Balanced Allocation Portfolio (SBMIX) and Concorde Wealth Management Fund (CONWX). 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.

	SBMIX	CONWX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.38	-0.66
Sortino ratio: Return per unit of downside risk	2.52	3.49	-0.97
Omega ratio: Gain probability vs. loss probability	1.31	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	2.22	4.50	-2.28
Martin ratio: Return relative to average drawdown	9.66	13.12	-3.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBMIX vs. CONWX - Sharpe Ratio Comparison

The current SBMIX Sharpe Ratio is 1.73, which is comparable to the CONWX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SBMIX and CONWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBMIX	CONWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.38	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.64	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.76	-0.15

Drawdowns

SBMIX vs. CONWX - Drawdown Comparison

The maximum SBMIX drawdown since its inception was -23.97%, smaller than the maximum CONWX drawdown of -26.09%. Use the drawdown chart below to compare losses from any high point for SBMIX and CONWX.

Drawdown Indicators

	SBMIX	CONWX	Difference
Max Drawdown Largest peak-to-trough decline	-23.97%	-26.09%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-3.68%	-3.17%
Max Drawdown (3Y) Largest decline over 3 years	-12.14%	-9.86%	-2.28%
Max Drawdown (5Y) Largest decline over 5 years	-14.92%	-12.49%	-2.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.09%	—
Current Drawdown Current decline from peak	0.00%	-3.11%	+3.11%
Average Drawdown Average peak-to-trough decline	-3.48%	-2.78%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.26%	+0.31%

Volatility

SBMIX vs. CONWX - Volatility Comparison

Saratoga Moderate Balanced Allocation Portfolio (SBMIX) has a higher volatility of 2.64% compared to Concorde Wealth Management Fund (CONWX) at 1.42%. This indicates that SBMIX's price experiences larger fluctuations and is considered to be riskier than CONWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBMIX	CONWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	1.42%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	5.13%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	8.81%	6.96%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.51%	10.19%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	11.10%	+0.80%

SBMIX vs. CONWX - Expense Ratio Comparison

SBMIX has a 0.99% expense ratio, which is lower than CONWX's 1.41% expense ratio.

Dividends

SBMIX vs. CONWX - Dividend Comparison

SBMIX's dividend yield for the trailing twelve months is around 9.62%, more than CONWX's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CONWX Concorde Wealth Management Fund	3.45%	3.69%	10.55%	2.16%	7.85%	3.63%	3.86%	2.16%	5.09%	2.48%
SBMIX Saratoga Moderate Balanced Allocation Portfolio	9.62%	10.12%	3.70%	1.32%	5.93%	8.04%	1.35%	3.40%	3.11%	0.00%

Frequently Asked Questions

Can I hold both SBMIX and CONWX in my portfolio?

SBMIX and CONWX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBMIX or CONWX?

SBMIX has higher volatility (2.64%) compared to CONWX (1.42%). In terms of maximum drawdown, SBMIX dropped -23.97% vs CONWX's -26.09%.

Which has better risk-adjusted returns?

CONWX currently has the higher Sharpe Ratio (2.38 vs 1.73), 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.