SMARX vs. FIKOX
Compare and contrast key facts about Brandes Separately Managed Account Reserve Trust (SMARX) and Fidelity Advisor Corporate Bond Fund Class Z (FIKOX).
SMARX is managed by BlackRock. It was launched on Oct 3, 2005. FIKOX is managed by Fidelity. It was launched on Oct 2, 2018.
Performance
SMARX vs. FIKOX - Performance Comparison
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SMARX vs. FIKOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | -0.18% | 6.91% | 3.73% | 9.76% | -11.77% | 0.76% | 6.55% | 7.77% | -1.10% |
FIKOX Fidelity Advisor Corporate Bond Fund Class Z | -0.81% | 7.96% | 2.83% | 8.64% | -17.06% | -1.60% | 10.91% | 14.58% | 0.53% |
Returns By Period
In the year-to-date period, SMARX achieves a -0.18% return, which is significantly higher than FIKOX's -0.81% return.
SMARX
- 1D
- 0.13%
- 1M
- -1.62%
- YTD
- -0.18%
- 6M
- 0.37%
- 1Y
- 3.86%
- 3Y*
- 5.23%
- 5Y*
- 1.94%
- 10Y*
- 3.35%
FIKOX
- 1D
- 0.38%
- 1M
- -1.94%
- YTD
- -0.81%
- 6M
- -0.28%
- 1Y
- 4.17%
- 3Y*
- 4.89%
- 5Y*
- 0.44%
- 10Y*
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SMARX vs. FIKOX - Expense Ratio Comparison
SMARX has a 0.00% expense ratio, which is lower than FIKOX's 0.36% expense ratio.
Return for Risk
SMARX vs. FIKOX — Risk / Return Rank
SMARX
FIKOX
SMARX vs. FIKOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brandes Separately Managed Account Reserve Trust (SMARX) and Fidelity Advisor Corporate Bond Fund Class Z (FIKOX). 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.
| SMARX | FIKOX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.04 | 0.94 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.48 | 1.33 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.53 | +0.26 |
Martin ratioReturn relative to average drawdown | 5.69 | 4.99 | +0.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMARX | FIKOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 0.94 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.07 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.46 | -0.05 |
Correlation
The correlation between SMARX and FIKOX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SMARX vs. FIKOX - Dividend Comparison
SMARX's dividend yield for the trailing twelve months is around 4.70%, more than FIKOX's 3.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | 4.70% | 5.02% | 4.07% | 3.85% | 3.53% | 2.57% | 3.35% | 4.19% | 4.55% | 4.20% | 4.87% | 5.24% |
FIKOX Fidelity Advisor Corporate Bond Fund Class Z | 3.92% | 4.20% | 4.05% | 3.51% | 2.62% | 2.90% | 3.47% | 3.37% | 0.98% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMARX vs. FIKOX - Drawdown Comparison
The maximum SMARX drawdown since its inception was -47.07%, which is greater than FIKOX's maximum drawdown of -23.22%. Use the drawdown chart below to compare losses from any high point for SMARX and FIKOX.
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Drawdown Indicators
| SMARX | FIKOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.07% | -23.22% | -23.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -3.31% | +0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -23.22% | +7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | — | — |
Current DrawdownCurrent decline from peak | -1.86% | -2.39% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -6.77% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 1.01% | -0.18% |
Volatility
SMARX vs. FIKOX - Volatility Comparison
The current volatility for Brandes Separately Managed Account Reserve Trust (SMARX) is 1.66%, while Fidelity Advisor Corporate Bond Fund Class Z (FIKOX) has a volatility of 1.78%. This indicates that SMARX experiences smaller price fluctuations and is considered to be less risky than FIKOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMARX | FIKOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.78% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 2.80% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 4.81% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.12% | 6.69% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 6.57% | -2.20% |