SMMIX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Summit Fund (SMMIX) and S&P 500 Index (^GSPC).

SMMIX is managed by Invesco. It was launched on Nov 1, 1982.

Performance

SMMIX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Summit Fund (SMMIX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

SMMIX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMMIX Invesco Summit Fund	-13.57%	11.08%	34.36%	36.82%	-33.12%	10.71%	42.22%	38.69%	-3.04%	29.88%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, SMMIX achieves a -13.57% return, which is significantly lower than ^GSPC's -4.63% return. Over the past 10 years, SMMIX has outperformed ^GSPC with an annualized return of 13.24%, while ^GSPC has yielded a comparatively lower 12.16% annualized return.

SMMIX

• 1D: -1.55%
• 1M: -9.44%
• YTD: -13.57%
• 6M: -16.01%
• 1Y: 12.23%
• 3Y*: 16.44%
• 5Y*: 4.95%
• 10Y*: 13.24%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

SMMIX vs. ^GSPC — Risk / Return Rank

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

SMMIX

SMMIX Risk / Return Rank: 17
SMMIX Sharpe Ratio Rank: 18
SMMIX Sortino Ratio Rank: 20
SMMIX Omega Ratio Rank: 19
SMMIX Calmar Ratio Rank: 13
SMMIX Martin Ratio Rank: 13

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

SMMIX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Summit Fund (SMMIX) and S&P 500 Index (^GSPC). 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.

	SMMIX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.46	0.90	-0.43
Sortino ratio Return per unit of downside risk	0.82	1.39	-0.56
Omega ratio Gain probability vs. loss probability	1.11	1.21	-0.10
Calmar ratio Return relative to maximum drawdown	0.36	1.40	-1.03
Martin ratio Return relative to average drawdown	1.12	6.61	-5.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMMIX vs. ^GSPC - Sharpe Ratio Comparison

The current SMMIX Sharpe Ratio is 0.46, which is lower than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of SMMIX and ^GSPC, 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

	SMMIX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.90	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.61	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.68	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.46	+0.02

Correlation

The correlation between SMMIX and ^GSPC is 0.87, 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.

Drawdowns

SMMIX vs. ^GSPC - Drawdown Comparison

The maximum SMMIX drawdown since its inception was -69.64%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SMMIX and ^GSPC.

Drawdown Indicators

	SMMIX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-69.64%	-56.78%	-12.86%
Max Drawdown (1Y) Largest decline over 1 year	-19.95%	-12.14%	-7.81%
Max Drawdown (5Y) Largest decline over 5 years	-40.62%	-25.43%	-15.19%
Max Drawdown (10Y) Largest decline over 10 years	-40.62%	-33.92%	-6.70%
Current Drawdown Current decline from peak	-19.95%	-6.45%	-13.50%
Average Drawdown Average peak-to-trough decline	-19.33%	-10.75%	-8.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.49%	2.57%	+3.92%

Volatility

SMMIX vs. ^GSPC - Volatility Comparison

Invesco Summit Fund (SMMIX) has a higher volatility of 7.16% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that SMMIX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMMIX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	5.34%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	15.76%	9.54%	+6.22%
Volatility (1Y) Calculated over the trailing 1-year period	25.83%	18.33%	+7.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.93%	16.91%	+7.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.77%	18.05%	+4.72%