SMIFX vs. SMILX

Last updated Jun 24, 2026

SMIFX (Sound Mind Investing Fund) and SMILX (SMI Multi-Strategy Fund) are both Diversified Portfolio funds from SMI Funds. Over the past 10 years, SMIFX returned 9.72%/yr vs 6.55%/yr for SMILX. Their correlation of 0.87 suggests significant overlap in exposure. SMIFX charges 1.19%/yr vs 1.15%/yr for SMILX.

Performance

SMIFX vs. SMILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sound Mind Investing Fund (SMIFX) and SMI Multi-Strategy Fund (SMILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMIFX achieves a 15.84% return, which is significantly higher than SMILX's 13.15% return. Over the past 10 years, SMIFX has outperformed SMILX with an annualized return of 9.72%, while SMILX has yielded a comparatively lower 6.55% annualized return.

SMIFX

• 1D: -0.09%
• 1M: 0.45%
• YTD: 15.84%
• 6M: 14.50%
• 1Y: 20.23%
• 3Y*: 12.61%
• 5Y*: 6.19%
• 10Y*: 9.72%

SMILX

• 1D: 0.08%
• 1M: 0.49%
• YTD: 13.15%
• 6M: 11.65%
• 1Y: 25.64%
• 3Y*: 14.36%
• 5Y*: 7.08%
• 10Y*: 6.55%

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

SMIFX vs. SMILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMIFX Sound Mind Investing Fund	15.84%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%
SMILX SMI Multi-Strategy Fund	13.15%	13.97%	13.23%	6.59%	-11.85%	9.72%	17.35%	12.77%	-10.36%	9.51%

Correlation

The correlation between SMIFX and SMILX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 31, 2010	0.87

The correlation between SMIFX and SMILX has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.

Return for Risk

SMIFX vs. SMILX — Risk / Return Rank

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

SMIFX

SMIFX Risk / Return Rank: 44
SMIFX Sharpe Ratio Rank: 40
SMIFX Sortino Ratio Rank: 36
SMIFX Omega Ratio Rank: 39
SMIFX Calmar Ratio Rank: 61
SMIFX Martin Ratio Rank: 45

SMILX

SMILX Risk / Return Rank: 61
SMILX Sharpe Ratio Rank: 55
SMILX Sortino Ratio Rank: 47
SMILX Omega Ratio Rank: 54
SMILX Calmar Ratio Rank: 76
SMILX Martin Ratio Rank: 71

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.

SMIFX vs. SMILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sound Mind Investing Fund (SMIFX) and SMI Multi-Strategy Fund (SMILX). 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.

	SMIFX	SMILX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.02	-0.30
Sortino ratio: Return per unit of downside risk	2.32	2.66	-0.34
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.87	3.27	-0.40
Martin ratio: Return relative to average drawdown	9.07	12.69	-3.62

SMIFX vs. SMILX - Sharpe Ratio Comparison

The current SMIFX Sharpe Ratio is 1.71, which is comparable to the SMILX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of SMIFX and SMILX, 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

SMIFX vs. SMILX - Drawdown Comparison

The maximum SMIFX drawdown since its inception was -54.33%, which is greater than SMILX's maximum drawdown of -29.75%. Use the drawdown chart below to compare losses from any high point for SMIFX and SMILX.

Drawdown Indicators

	SMIFX	SMILX	Difference
Max Drawdown Largest peak-to-trough decline	-54.33%	-29.75%	-24.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.42%	-8.14%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-19.98%	-15.09%	-4.89%
Max Drawdown (5Y) Largest decline over 5 years	-41.36%	-29.75%	-11.61%
Max Drawdown (10Y) Largest decline over 10 years	-41.36%	-29.75%	-11.61%
Current Drawdown Current decline from peak	-9.55%	-1.45%	-8.10%
Average Drawdown Average peak-to-trough decline	-14.27%	-9.10%	-5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.09%	+0.25%

Volatility

SMIFX vs. SMILX - Volatility Comparison

The current volatility for Sound Mind Investing Fund (SMIFX) is 5.19%, while SMI Multi-Strategy Fund (SMILX) has a volatility of 5.84%. This indicates that SMIFX experiences smaller price fluctuations and is considered to be less risky than SMILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIFX	SMILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	5.84%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	11.16%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	13.23%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.06%	16.84%	+12.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.22%	14.71%	+9.51%

SMIFX vs. SMILX - Expense Ratio Comparison

SMIFX has a 1.19% expense ratio, which is higher than SMILX's 1.15% expense ratio.

Dividends

SMIFX vs. SMILX - Dividend Comparison

SMIFX's dividend yield for the trailing twelve months is around 4.60%, less than SMILX's 7.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMIFX Sound Mind Investing Fund	4.60%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%
SMILX SMI Multi-Strategy Fund	7.36%	8.33%	6.24%	0.83%	0.36%	19.10%	0.33%	0.45%	3.55%	1.20%	0.89%	3.24%

Frequently Asked Questions

Can I hold both SMIFX and SMILX in my portfolio?

With a correlation of 0.95, SMIFX and SMILX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SMIFX or SMILX?

SMILX has higher volatility (5.84%) compared to SMIFX (5.19%). In terms of maximum drawdown, SMIFX dropped -54.33% vs SMILX's -29.75%.

Which has better risk-adjusted returns?

SMILX currently has the higher Sharpe Ratio (2.02 vs 1.71), 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.