SIEPX vs. SMICX
SIEPX (Saratoga International Equity Portfolio) and SMICX (Saratoga Moderately Conservative Balanced Allocation Portfolio) are both mutual funds - SIEPX is a Foreign Large Cap Equities fund managed by Saratoga, while SMICX is a Diversified Portfolio fund managed by Saratoga. Over the past 5 years, SIEPX returned 9.01%/yr vs 6.10%/yr for SMICX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SIEPX charges 2.47%/yr vs 0.99%/yr for SMICX.
Performance
SIEPX vs. SMICX - Performance Comparison
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Returns By Period
In the year-to-date period, SIEPX achieves a 17.33% return, which is significantly higher than SMICX's 3.00% return.
SIEPX
- 1D
- 3.19%
- 1M
- 1.81%
- 6M
- 12.56%
- YTD
- 17.33%
- 1Y
- 27.80%
- 3Y*
- 17.70%
- 5Y*
- 9.01%
- 10Y*
- 7.47%
- ALL TIME*
- 3.11%
SMICX
- 1D
- 1.07%
- 1M
- -1.90%
- 6M
- 1.71%
- YTD
- 3.00%
- 1Y
- 8.19%
- 3Y*
- 10.18%
- 5Y*
- 6.10%
- 10Y*
- —
- ALL TIME*
- 6.50%
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 |
SIEPX vs. SMICX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIEPX Saratoga International Equity Portfolio | 17.33% | 31.89% | 5.25% | 14.80% | -21.85% | 19.33% | 5.87% | 19.77% | -23.89% | 0.09% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 3.00% | 12.07% | 11.02% | 12.83% | -9.82% | 11.85% | 9.22% | 16.62% | -7.61% | 0.00% |
Correlation
The correlation between SIEPX and SMICX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2017 | 0.76 |
The correlation between SIEPX and SMICX has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
SIEPX vs. SMICX — Risk / Return Rank
SIEPX
SMICX
SIEPX vs. SMICX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga International Equity Portfolio (SIEPX) and Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX). 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.
| SIEPX | SMICX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 1.13 | +1.19 |
| Martin ratioReturn relative to average drawdown | 8.53 | 4.32 | +4.21 |
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Drawdowns
SIEPX vs. SMICX - Drawdown Comparison
The maximum SIEPX drawdown since its inception was -62.81%, which is greater than SMICX's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for SIEPX and SMICX.
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Drawdown Indicators
| SIEPX | SMICX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.81% | -22.85% | -39.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -6.64% | -4.77% |
Max Drawdown (3Y)Largest decline over 3 years | -15.63% | -11.42% | -4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -35.31% | -14.24% | -21.07% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.41% | +3.41% |
Average DrawdownAverage peak-to-trough decline | -23.93% | -3.36% | -20.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 1.73% | +1.38% |
Volatility
SIEPX vs. SMICX - Volatility Comparison
Saratoga International Equity Portfolio (SIEPX) has a higher volatility of 5.60% compared to Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) at 2.88%. This indicates that SIEPX's price experiences larger fluctuations and is considered to be riskier than SMICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIEPX | SMICX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 2.88% | +2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 14.17% | 7.64% | +6.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 9.40% | +6.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.69% | 9.99% | +6.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.42% | 11.12% | +6.30% |
SIEPX vs. SMICX - Expense Ratio Comparison
SIEPX has a 2.47% expense ratio, which is higher than SMICX's 0.99% expense ratio.
Dividends
SIEPX vs. SMICX - Dividend Comparison
SIEPX has not paid dividends to shareholders, while SMICX's dividend yield for the trailing twelve months is around 10.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SIEPX Saratoga International Equity Portfolio | 0.00% | 0.00% | 0.71% | 0.83% | 0.31% | 0.41% | 1.79% | 1.97% | 0.58% | 0.03% | 0.63% | 0.15% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 10.81% | 11.14% | 4.00% | 0.87% | 7.81% | 11.59% | 1.39% | 3.45% | 2.95% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIEPX and SMICX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIEPX has higher volatility (5.60%) compared to SMICX (2.88%). In terms of maximum drawdown, SIEPX dropped -62.81% vs SMICX's -22.85%.
SIEPX currently has the higher Sharpe Ratio (1.64 vs 0.80), 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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