SMICX vs. SMBPX
Compare and contrast key facts about Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) and Saratoga Municipal Bond Portfolio (SMBPX).
SMICX is managed by Saratoga. It was launched on Dec 28, 2017. SMBPX is managed by Saratoga. It was launched on Sep 1, 1994.
Performance
SMICX vs. SMBPX - Performance Comparison
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SMICX vs. SMBPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | -4.09% | 12.07% | 11.02% | 12.83% | -9.82% | 11.85% | 9.22% | 16.62% | -7.61% |
SMBPX Saratoga Municipal Bond Portfolio | 0.00% | 2.92% | -0.11% | 1.84% | -2.57% | -1.39% | 0.77% | 1.00% | -2.38% |
Returns By Period
SMICX
- 1D
- -0.38%
- 1M
- -6.22%
- YTD
- -4.09%
- 6M
- -2.60%
- 1Y
- 9.70%
- 3Y*
- 9.35%
- 5Y*
- 5.36%
- 10Y*
- —
SMBPX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.73%
- 1Y
- 3.27%
- 3Y*
- 1.35%
- 5Y*
- 0.13%
- 10Y*
- -0.09%
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SMICX vs. SMBPX - Expense Ratio Comparison
SMICX has a 0.99% expense ratio, which is lower than SMBPX's 3.16% expense ratio.
Return for Risk
SMICX vs. SMBPX — Risk / Return Rank
SMICX
SMBPX
SMICX vs. SMBPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) and Saratoga Municipal Bond Portfolio (SMBPX). 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.
| SMICX | SMBPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.11 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.38 | 1.46 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 1.25 | 0.59 | +0.66 |
Martin ratioReturn relative to average drawdown | 5.03 | 2.15 | +2.88 |
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
| SMICX | SMBPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.11 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.06 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.88 | -0.35 |
Correlation
The correlation between SMICX and SMBPX 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
SMICX vs. SMBPX - Dividend Comparison
SMICX's dividend yield for the trailing twelve months is around 11.61%, more than SMBPX's 2.69% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMICX Saratoga Moderately Conservative Balanced Allocation Portfolio | 11.61% | 11.14% | 4.00% | 0.87% | 7.81% | 11.59% | 1.39% | 3.45% | 2.95% | 0.00% | 0.00% | 0.00% |
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% |
Drawdowns
SMICX vs. SMBPX - Drawdown Comparison
The maximum SMICX drawdown since its inception was -22.85%, which is greater than SMBPX's maximum drawdown of -9.99%. Use the drawdown chart below to compare losses from any high point for SMICX and SMBPX.
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Drawdown Indicators
| SMICX | SMBPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.85% | -9.99% | -12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -6.85% | -3.63% | -3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.24% | -6.72% | -7.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.99% | — |
Current DrawdownCurrent decline from peak | -6.64% | -2.99% | -3.65% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -2.47% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.03% | +0.68% |
Volatility
SMICX vs. SMBPX - Volatility Comparison
Saratoga Moderately Conservative Balanced Allocation Portfolio (SMICX) has a higher volatility of 3.40% compared to Saratoga Municipal Bond Portfolio (SMBPX) at 0.00%. This indicates that SMICX's price experiences larger fluctuations and is considered to be riskier than SMBPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMICX | SMBPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 0.00% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 0.86% | +5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.62% | 3.38% | +7.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 2.20% | +7.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.13% | 1.97% | +9.16% |