SMILX vs. FRGAX

Last updated Apr 2, 2026

Compare and contrast key facts about SMI Multi-Strategy Fund (SMILX) and Fidelity 70% Allocation Fund (FRGAX).

SMILX is managed by SMI Funds. It was launched on Apr 28, 2015. FRGAX is an actively managed fund by Fidelity. It was launched on Jan 1, 2022.

Performance

SMILX vs. FRGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMI Multi-Strategy Fund (SMILX) and Fidelity 70% Allocation Fund (FRGAX). The values are adjusted to include any dividend payments, if applicable.

SMILX vs. FRGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SMILX SMI Multi-Strategy Fund	2.96%	13.97%	13.23%	6.59%	-0.41%
FRGAX Fidelity 70% Allocation Fund	-3.53%	17.10%	12.91%	17.57%	-1.63%

Returns By Period

In the year-to-date period, SMILX achieves a 2.96% return, which is significantly higher than FRGAX's -3.53% return.

SMILX

• 1D: 2.58%
• 1M: -5.76%
• YTD: 2.96%
• 6M: 4.42%
• 1Y: 18.85%
• 3Y*: 11.29%
• 5Y*: 5.70%
• 10Y*: 5.88%

FRGAX

• 1D: -0.17%
• 1M: -6.30%
• YTD: -3.53%
• 6M: -1.60%
• 1Y: 13.07%
• 3Y*: 12.30%
• 5Y*: —
• 10Y*: —

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

SMILX vs. FRGAX - Expense Ratio Comparison

SMILX has a 1.15% expense ratio, which is higher than FRGAX's 0.02% expense ratio.

SMILX

SMI Multi-Strategy Fund

FRGAX

Fidelity 70% Allocation Fund

Return for Risk

SMILX vs. FRGAX — Risk / Return Rank

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

SMILX

SMILX Risk / Return Rank: 70
SMILX Sharpe Ratio Rank: 66
SMILX Sortino Ratio Rank: 66
SMILX Omega Ratio Rank: 66
SMILX Calmar Ratio Rank: 75
SMILX Martin Ratio Rank: 79

FRGAX

FRGAX Risk / Return Rank: 64
FRGAX Sharpe Ratio Rank: 63
FRGAX Sortino Ratio Rank: 65
FRGAX Omega Ratio Rank: 63
FRGAX Calmar Ratio Rank: 59
FRGAX Martin Ratio Rank: 69

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.

SMILX vs. FRGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI Multi-Strategy Fund (SMILX) and Fidelity 70% Allocation Fund (FRGAX). 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.

	SMILX	FRGAX	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.15	+0.15
Sortino ratio Return per unit of downside risk	1.84	1.67	+0.16
Omega ratio Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio Return relative to maximum drawdown	1.97	1.41	+0.56
Martin ratio Return relative to average drawdown	8.66	6.55	+2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMILX vs. FRGAX - Sharpe Ratio Comparison

The current SMILX Sharpe Ratio is 1.30, which is comparable to the FRGAX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of SMILX and FRGAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMILX	FRGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.15	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.21	-0.86

Correlation

The correlation between SMILX and FRGAX is 0.90, 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

SMILX vs. FRGAX - Dividend Comparison

SMILX's dividend yield for the trailing twelve months is around 8.09%, more than FRGAX's 2.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMILX SMI Multi-Strategy Fund	8.09%	8.33%	6.24%	0.83%	0.36%	19.10%	0.33%	0.45%	3.55%	1.20%	0.89%	3.24%
FRGAX Fidelity 70% Allocation Fund	2.08%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SMILX vs. FRGAX - Drawdown Comparison

The maximum SMILX drawdown since its inception was -29.75%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for SMILX and FRGAX.

Drawdown Indicators

	SMILX	FRGAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.75%	-11.77%	-17.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-8.53%	-1.57%
Max Drawdown (5Y) Largest decline over 5 years	-29.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.75%	—	—
Current Drawdown Current decline from peak	-5.76%	-7.03%	+1.27%
Average Drawdown Average peak-to-trough decline	-9.21%	-1.62%	-7.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	1.87%	+0.43%

Volatility

SMILX vs. FRGAX - Volatility Comparison

SMI Multi-Strategy Fund (SMILX) has a higher volatility of 5.39% compared to Fidelity 70% Allocation Fund (FRGAX) at 3.78%. This indicates that SMILX's price experiences larger fluctuations and is considered to be riskier than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMILX	FRGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	3.78%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	6.72%	+3.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	11.92%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	10.27%	+6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.54%	10.27%	+4.27%