SMBPX vs. SMICX
Compare and contrast key facts about Saratoga Municipal Bond Portfolio (SMBPX) and Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX).
SMBPX is managed by Saratoga. It was launched on Sep 1, 1994. SMICX is managed by Saratoga. It was launched on Dec 28, 2017.
Performance
SMBPX vs. SMICX - Performance Comparison
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SMBPX vs. SMICX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMBPX Saratoga Municipal Bond Portfolio | 0.00% | 2.92% | -0.11% | 1.84% | -2.57% | -1.39% | 0.77% | 1.00% | -2.38% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | -2.27% | 12.07% | 11.02% | 12.83% | -9.82% | 11.85% | 9.22% | 16.62% | -7.61% |
Returns By Period
SMBPX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.62%
- 1Y
- 2.92%
- 3Y*
- 1.35%
- 5Y*
- 0.11%
- 10Y*
- -0.09%
SMICX
- 1D
- 1.90%
- 1M
- -4.27%
- YTD
- -2.27%
- 6M
- -0.92%
- 1Y
- 11.36%
- 3Y*
- 10.04%
- 5Y*
- 5.61%
- 10Y*
- —
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SMBPX vs. SMICX - Expense Ratio Comparison
SMBPX has a 3.16% expense ratio, which is higher than SMICX's 0.99% expense ratio.
Return for Risk
SMBPX vs. SMICX — Risk / Return Rank
SMBPX
SMICX
SMBPX vs. SMICX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Municipal Bond Portfolio (SMBPX) 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.
| SMBPX | SMICX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.04 | 1.10 | -0.06 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.63 | -0.26 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.22 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.60 | -1.00 |
Martin ratioReturn relative to average drawdown | 2.15 | 6.32 | -4.17 |
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
| SMBPX | SMICX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.10 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.58 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.55 | +0.33 |
Correlation
The correlation between SMBPX and SMICX is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SMBPX vs. SMICX - Dividend Comparison
SMBPX's dividend yield for the trailing twelve months is around 2.69%, less than SMICX's 11.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMBPX Saratoga Municipal Bond Portfolio | 2.69% | 2.69% | 1.16% | 0.00% | 0.00% | 0.04% | 0.10% | 0.10% | 0.36% | 0.23% | 4.23% | 1.50% |
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 11.40% | 11.14% | 4.00% | 0.87% | 7.81% | 11.59% | 1.39% | 3.45% | 2.95% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMBPX vs. SMICX - Drawdown Comparison
The maximum SMBPX drawdown since its inception was -9.99%, smaller than the maximum SMICX drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for SMBPX and SMICX.
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Drawdown Indicators
| SMBPX | SMICX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.99% | -22.85% | +12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -6.85% | +3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -6.72% | -14.24% | +7.52% |
Max Drawdown (10Y)Largest decline over 10 years | -9.99% | — | — |
Current DrawdownCurrent decline from peak | -2.99% | -4.87% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -3.44% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.73% | -0.70% |
Volatility
SMBPX vs. SMICX - Volatility Comparison
The current volatility for Saratoga Municipal Bond Portfolio (SMBPX) is 0.00%, while Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) has a volatility of 4.04%. This indicates that SMBPX experiences smaller price fluctuations and is considered to be less risky 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
| SMBPX | SMICX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.04% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.80% | 6.62% | -5.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.37% | 10.76% | -7.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.20% | 9.79% | -7.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.97% | 11.15% | -9.18% |