SBMIX vs. SAMIX

Last updated Jun 3, 2026

SBMIX (Saratoga Moderate Balanced Allocation Portfolio) and SAMIX (Saratoga Moderately Aggressive Balanced Allocation Portfolio) are both Diversified Portfolio funds from Saratoga. Over the past 5 years, SBMIX returned 6.57%/yr vs 7.06%/yr for SAMIX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

SBMIX vs. SAMIX - Performance Comparison

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

Returns By Period

In the year-to-date period, SBMIX achieves a 4.78% return, which is significantly lower than SAMIX's 5.48% return.

SBMIX

• 1D: 0.08%
• 1M: 2.01%
• YTD: 4.78%
• 6M: 5.16%
• 1Y: 14.54%
• 3Y*: 12.17%
• 5Y*: 6.57%
• 10Y*: —

SAMIX

• 1D: 0.16%
• 1M: 2.25%
• YTD: 5.48%
• 6M: 5.84%
• 1Y: 15.73%
• 3Y*: 13.15%
• 5Y*: 7.06%
• 10Y*: —

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

SBMIX vs. SAMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SBMIX Saratoga Moderate Balanced Allocation Portfolio	4.78%	12.25%	11.36%	11.96%	-10.38%	13.50%	9.84%	17.05%	-6.88%
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	5.48%	12.60%	11.53%	13.68%	-10.56%	14.08%	9.36%	17.88%	-8.55%

Correlation

The correlation between SBMIX and SAMIX 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 12, 2018	0.99

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

Return for Risk

SBMIX vs. SAMIX — Risk / Return Rank

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

SBMIX

SBMIX Risk / Return Rank: 36
SBMIX Sharpe Ratio Rank: 33
SBMIX Sortino Ratio Rank: 35
SBMIX Omega Ratio Rank: 32
SBMIX Calmar Ratio Rank: 32
SBMIX Martin Ratio Rank: 45

SAMIX

SAMIX Risk / Return Rank: 36
SAMIX Sharpe Ratio Rank: 34
SAMIX Sortino Ratio Rank: 35
SAMIX Omega Ratio Rank: 33
SAMIX Calmar Ratio Rank: 34
SAMIX Martin Ratio Rank: 46

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. SAMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Moderate Balanced Allocation Portfolio (SBMIX) and Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX). 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	SAMIX	Difference
Sharpe ratio Return per unit of total volatility	1.68	1.69	-0.01
Sortino ratio Return per unit of downside risk	2.45	2.46	-0.01
Omega ratio Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio Return relative to maximum drawdown	2.18	2.20	-0.02
Martin ratio Return relative to average drawdown	9.51	9.61	-0.10
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. SAMIX - Sharpe Ratio Comparison

The current SBMIX Sharpe Ratio is 1.68, which is comparable to the SAMIX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of SBMIX and SAMIX, 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	SAMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.69	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.64	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.59	+0.01

Drawdowns

SBMIX vs. SAMIX - Drawdown Comparison

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

Drawdown Indicators

	SBMIX	SAMIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.97%	-26.06%	+2.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-7.29%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-12.14%	-12.90%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-14.92%	-15.54%	+0.62%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.48%	-3.80%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.67%	-0.10%

Volatility

SBMIX vs. SAMIX - Volatility Comparison

Saratoga Moderate Balanced Allocation Portfolio (SBMIX) and Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) have volatilities of 2.61% and 2.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBMIX	SAMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	2.73%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	6.93%	7.47%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	9.46%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.51%	11.10%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	12.66%	-0.76%

SBMIX vs. SAMIX - Expense Ratio Comparison

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

Dividends

SBMIX vs. SAMIX - Dividend Comparison

SBMIX's dividend yield for the trailing twelve months is around 9.66%, which matches SAMIX's 9.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	9.72%	10.26%	3.60%	2.78%	5.82%	8.13%	1.66%	2.44%	3.03%
SBMIX Saratoga Moderate Balanced Allocation Portfolio	9.66%	10.12%	3.70%	1.32%	5.93%	8.04%	1.35%	3.40%	3.11%

Frequently Asked Questions

Can I hold both SBMIX and SAMIX in my portfolio?

With a correlation of 1.00, SBMIX and SAMIX 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, SBMIX or SAMIX?

SAMIX has higher volatility (2.73%) compared to SBMIX (2.61%). In terms of maximum drawdown, SBMIX dropped -23.97% vs SAMIX's -26.06%.

Which has better risk-adjusted returns?

SAMIX currently has the higher Sharpe Ratio (1.69 vs 1.68), 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.