SIRIX vs. ABRZX

Last updated Jun 23, 2026

SIRIX (Sierra Tactical All Asset Fund) and ABRZX (Invesco Balanced-Risk Allocation Fund Class A) are both Tactical Allocation funds. Over the past 10 years, SIRIX returned 2.78%/yr vs 4.61%/yr for ABRZX. A 0.55 correlation means they provide meaningful diversification when combined. SIRIX charges 1.70%/yr vs 1.41%/yr for ABRZX.

Performance

SIRIX vs. ABRZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sierra Tactical All Asset Fund (SIRIX) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIRIX achieves a 5.06% return, which is significantly lower than ABRZX's 18.14% return. Over the past 10 years, SIRIX has underperformed ABRZX with an annualized return of 2.78%, while ABRZX has yielded a comparatively higher 4.61% annualized return.

SIRIX

• 1D: 0.72%
• 1M: 1.11%
• YTD: 5.06%
• 6M: 4.88%
• 1Y: 12.51%
• 3Y*: 6.11%
• 5Y*: 1.93%
• 10Y*: 2.78%

ABRZX

• 1D: 0.00%
• 1M: -1.13%
• YTD: 18.14%
• 6M: 18.72%
• 1Y: 24.94%
• 3Y*: 10.68%
• 5Y*: 4.19%
• 10Y*: 4.61%

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

SIRIX vs. ABRZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIRIX Sierra Tactical All Asset Fund	5.06%	4.74%	4.90%	4.17%	-6.82%	0.48%	4.81%	7.71%	-4.24%	7.45%
ABRZX Invesco Balanced-Risk Allocation Fund Class A	18.14%	8.20%	3.14%	5.97%	-14.96%	9.36%	9.20%	9.43%	-7.01%	9.80%

Correlation

The correlation between SIRIX and ABRZX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jun 3, 2009	0.55

The correlation between SIRIX and ABRZX has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

Return for Risk

SIRIX vs. ABRZX — Risk / Return Rank

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

SIRIX

SIRIX Risk / Return Rank: 43
SIRIX Sharpe Ratio Rank: 46
SIRIX Sortino Ratio Rank: 42
SIRIX Omega Ratio Rank: 48
SIRIX Calmar Ratio Rank: 40
SIRIX Martin Ratio Rank: 41

ABRZX

ABRZX Risk / Return Rank: 89
ABRZX Sharpe Ratio Rank: 89
ABRZX Sortino Ratio Rank: 82
ABRZX Omega Ratio Rank: 84
ABRZX Calmar Ratio Rank: 96
ABRZX Martin Ratio Rank: 94

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.

SIRIX vs. ABRZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sierra Tactical All Asset Fund (SIRIX) and Invesco Balanced-Risk Allocation Fund Class A (ABRZX). 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.

	SIRIX	ABRZX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.71	-0.88
Sortino ratio: Return per unit of downside risk	2.52	3.58	-1.06
Omega ratio: Gain probability vs. loss probability	1.35	1.52	-0.17
Calmar ratio: Return relative to maximum drawdown	2.29	5.92	-3.64
Martin ratio: Return relative to average drawdown	8.38	19.45	-11.07

SIRIX vs. ABRZX - Sharpe Ratio Comparison

The current SIRIX Sharpe Ratio is 1.83, which is lower than the ABRZX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of SIRIX and ABRZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIRIX vs. ABRZX - Drawdown Comparison

The maximum SIRIX drawdown since its inception was -11.31%, smaller than the maximum ABRZX drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for SIRIX and ABRZX.

Drawdown Indicators

	SIRIX	ABRZX	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-26.62%	+15.31%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-4.25%	-1.17%
Max Drawdown (3Y) Largest decline over 3 years	-7.99%	-18.28%	+10.29%
Max Drawdown (5Y) Largest decline over 5 years	-11.30%	-19.33%	+8.03%
Max Drawdown (10Y) Largest decline over 10 years	-11.31%	-26.62%	+15.31%
Current Drawdown Current decline from peak	-0.55%	-2.53%	+1.98%
Average Drawdown Average peak-to-trough decline	-2.43%	-4.74%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.29%	+0.18%

Volatility

SIRIX vs. ABRZX - Volatility Comparison

Sierra Tactical All Asset Fund (SIRIX) has a higher volatility of 3.46% compared to Invesco Balanced-Risk Allocation Fund Class A (ABRZX) at 3.04%. This indicates that SIRIX's price experiences larger fluctuations and is considered to be riskier than ABRZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIRIX	ABRZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.04%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	5.81%	8.18%	-2.37%
Volatility (1Y) Calculated over the trailing 1-year period	6.77%	9.27%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	12.25%	-6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.21%	10.92%	-6.71%

SIRIX vs. ABRZX - Expense Ratio Comparison

SIRIX has a 1.70% expense ratio, which is higher than ABRZX's 1.41% expense ratio.

Dividends

SIRIX vs. ABRZX - Dividend Comparison

SIRIX's dividend yield for the trailing twelve months is around 2.59%, less than ABRZX's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABRZX Invesco Balanced-Risk Allocation Fund Class A	2.86%	3.38%	13.28%	2.21%	0.00%	26.02%	1.18%	6.49%	0.00%	6.43%	4.41%	6.91%
SIRIX Sierra Tactical All Asset Fund	2.59%	2.65%	2.88%	2.71%	1.59%	2.52%	1.37%	2.51%	2.23%	2.41%	2.15%	2.53%

Frequently Asked Questions

Can I hold both SIRIX and ABRZX in my portfolio?

SIRIX and ABRZX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIRIX or ABRZX?

SIRIX has higher volatility (3.46%) compared to ABRZX (3.04%). In terms of maximum drawdown, SIRIX dropped -11.31% vs ABRZX's -26.62%.

Which has better risk-adjusted returns?

ABRZX currently has the higher Sharpe Ratio (2.71 vs 1.83), 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.