SMILX vs. SMIDX

Last updated Jun 24, 2026

SMILX (SMI Multi-Strategy Fund) and SMIDX (SMI Dynamic Allocation Fund) are both mutual funds - SMILX is a Diversified Portfolio fund managed by SMI Funds, while SMIDX is a Tactical Allocation fund managed by SMI Funds. Over the past 10 years, SMILX returned 6.55%/yr vs 6.47%/yr for SMIDX. Their correlation of 0.85 suggests significant overlap in exposure. SMILX charges 1.15%/yr vs 1.19%/yr for SMIDX.

Performance

SMILX vs. SMIDX - Performance Comparison

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

Returns By Period

In the year-to-date period, SMILX achieves a 13.15% return, which is significantly higher than SMIDX's 10.26% return. Both investments have delivered pretty close results over the past 10 years, with SMILX having a 6.55% annualized return and SMIDX not far behind at 6.47%.

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%

SMIDX

• 1D: 0.00%
• 1M: 0.48%
• YTD: 10.26%
• 6M: 8.81%
• 1Y: 26.17%
• 3Y*: 15.70%
• 5Y*: 6.97%
• 10Y*: 6.47%

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

SMILX vs. SMIDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SMIDX SMI Dynamic Allocation Fund	10.26%	22.50%	12.76%	8.39%	-19.12%	14.00%	9.64%	9.47%	-6.12%	14.11%

Correlation

The correlation between SMILX and SMIDX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Mar 1, 2013	0.85

The correlation between SMILX and SMIDX shifts across timeframes, from 0.85 (10 years) to 0.96 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SMILX vs. SMIDX — Risk / Return Rank

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

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

SMIDX

SMIDX Risk / Return Rank: 61
SMIDX Sharpe Ratio Rank: 58
SMIDX Sortino Ratio Rank: 49
SMIDX Omega Ratio Rank: 60
SMIDX Calmar Ratio Rank: 70
SMIDX Martin Ratio Rank: 66

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. SMIDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMI Multi-Strategy Fund (SMILX) and SMI Dynamic Allocation Fund (SMIDX). 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.

	SMILX	SMIDX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.06	-0.05
Sortino ratio: Return per unit of downside risk	2.66	2.71	-0.05
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	3.27	3.08	+0.19
Martin ratio: Return relative to average drawdown	12.69	12.09	+0.61

SMILX vs. SMIDX - Sharpe Ratio Comparison

The current SMILX Sharpe Ratio is 2.02, which is comparable to the SMIDX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of SMILX and SMIDX, 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

SMILX vs. SMIDX - Drawdown Comparison

The maximum SMILX drawdown since its inception was -29.75%, which is greater than SMIDX's maximum drawdown of -21.99%. Use the drawdown chart below to compare losses from any high point for SMILX and SMIDX.

Drawdown Indicators

	SMILX	SMIDX	Difference
Max Drawdown Largest peak-to-trough decline	-29.75%	-21.99%	-7.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.73%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-15.09%	-10.11%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-29.75%	-21.99%	-7.76%
Max Drawdown (10Y) Largest decline over 10 years	-29.75%	-21.99%	-7.76%
Current Drawdown Current decline from peak	-1.45%	-1.67%	+0.22%
Average Drawdown Average peak-to-trough decline	-9.10%	-6.30%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.22%	-0.13%

Volatility

SMILX vs. SMIDX - Volatility Comparison

SMI Multi-Strategy Fund (SMILX) has a higher volatility of 5.84% compared to SMI Dynamic Allocation Fund (SMIDX) at 5.50%. This indicates that SMILX's price experiences larger fluctuations and is considered to be riskier than SMIDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMILX	SMIDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	5.50%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	11.37%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	13.05%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	10.87%	+5.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.71%	10.31%	+4.40%

SMILX vs. SMIDX - Expense Ratio Comparison

SMILX has a 1.15% expense ratio, which is lower than SMIDX's 1.19% expense ratio.

Dividends

SMILX vs. SMIDX - Dividend Comparison

SMILX's dividend yield for the trailing twelve months is around 7.36%, less than SMIDX's 10.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMIDX SMI Dynamic Allocation Fund	10.73%	11.83%	6.43%	0.19%	0.00%	7.91%	5.32%	1.22%	1.53%	0.92%	0.25%	1.27%
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 SMILX and SMIDX in my portfolio?

With a correlation of 0.96, SMILX and SMIDX 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, SMILX or SMIDX?

SMILX has higher volatility (5.84%) compared to SMIDX (5.50%). In terms of maximum drawdown, SMILX dropped -29.75% vs SMIDX's -21.99%.

Which has better risk-adjusted returns?

SMIDX currently has the higher Sharpe Ratio (2.06 vs 2.02), 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.