SMMIX vs. BBLIX

Last updated Jun 4, 2026

SMMIX (Invesco Summit Fund) and BBLIX (BBH Select Series - Large Cap Fund) are both Large Cap Growth Equities funds. Over the past 5 years, SMMIX returned 9.04%/yr vs 8.43%/yr for BBLIX. A 0.78 correlation means they provide meaningful diversification when combined. SMMIX charges 0.84%/yr vs 0.70%/yr for BBLIX.

Performance

SMMIX vs. BBLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Summit Fund (SMMIX) and BBH Select Series - Large Cap Fund (BBLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMMIX achieves a 9.18% return, which is significantly higher than BBLIX's 1.58% return.

SMMIX

• 1D: 1.26%
• 1M: 5.83%
• YTD: 9.18%
• 6M: 7.64%
• 1Y: 23.14%
• 3Y*: 22.06%
• 5Y*: 9.04%
• 10Y*: 15.60%

BBLIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 1.58%
• 6M: 1.58%
• 1Y: 8.23%
• 3Y*: 13.79%
• 5Y*: 8.43%
• 10Y*: —

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

SMMIX vs. BBLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SMMIX Invesco Summit Fund	9.18%	11.08%	34.36%	36.82%	-33.12%	10.71%	42.22%	9.09%
BBLIX BBH Select Series - Large Cap Fund	1.58%	12.07%	15.83%	23.86%	-20.59%	27.23%	12.30%	3.63%

Correlation

The correlation between SMMIX and BBLIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	0.78

Over the past year, the correlation between SMMIX and BBLIX has dropped to 0.43 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

SMMIX vs. BBLIX — Risk / Return Rank

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

SMMIX

SMMIX Risk / Return Rank: 15
SMMIX Sharpe Ratio Rank: 18
SMMIX Sortino Ratio Rank: 16
SMMIX Omega Ratio Rank: 17
SMMIX Calmar Ratio Rank: 13
SMMIX Martin Ratio Rank: 12

BBLIX

BBLIX Risk / Return Rank: 33
BBLIX Sharpe Ratio Rank: 23
BBLIX Sortino Ratio Rank: 23
BBLIX Omega Ratio Rank: 36
BBLIX Calmar Ratio Rank: 60
BBLIX Martin Ratio Rank: 22

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. BBLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Summit Fund (SMMIX) and BBH Select Series - Large Cap Fund (BBLIX). 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	BBLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.38	-0.18
Sortino ratio: Return per unit of downside risk	1.67	1.99	-0.32
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.21	2.98	-1.77
Martin ratio: Return relative to average drawdown	3.56	5.72	-2.16
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. BBLIX - Sharpe Ratio Comparison

The current SMMIX Sharpe Ratio is 1.20, which is comparable to the BBLIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of SMMIX and BBLIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMMIX	BBLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.38	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.55	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.57	-0.07

Drawdowns

SMMIX vs. BBLIX - Drawdown Comparison

The maximum SMMIX drawdown since its inception was -69.64%, which is greater than BBLIX's maximum drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for SMMIX and BBLIX.

Drawdown Indicators

	SMMIX	BBLIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.64%	-33.49%	-36.15%
Max Drawdown (1Y) Largest decline over 1 year	-19.95%	-3.63%	-16.32%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	-14.68%	-13.83%
Max Drawdown (5Y) Largest decline over 5 years	-40.62%	-28.06%	-12.56%
Max Drawdown (10Y) Largest decline over 10 years	-40.62%	—	—
Current Drawdown Current decline from peak	0.00%	-1.80%	+1.80%
Average Drawdown Average peak-to-trough decline	-19.27%	-6.35%	-12.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.75%	2.43%	+4.32%

Volatility

SMMIX vs. BBLIX - Volatility Comparison

Invesco Summit Fund (SMMIX) has a higher volatility of 5.24% compared to BBH Select Series - Large Cap Fund (BBLIX) at 0.00%. This indicates that SMMIX's price experiences larger fluctuations and is considered to be riskier than BBLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMMIX	BBLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	0.00%	+5.24%
Volatility (6M) Calculated over the trailing 6-month period	15.25%	4.76%	+10.49%
Volatility (1Y) Calculated over the trailing 1-year period	20.12%	7.86%	+12.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.03%	15.93%	+8.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.90%	18.55%	+4.35%

SMMIX vs. BBLIX - Expense Ratio Comparison

SMMIX has a 0.84% expense ratio, which is higher than BBLIX's 0.70% expense ratio.

Dividends

SMMIX vs. BBLIX - Dividend Comparison

SMMIX's dividend yield for the trailing twelve months is around 13.53%, more than BBLIX's 9.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBLIX BBH Select Series - Large Cap Fund	9.39%	9.54%	4.20%	0.28%	1.45%	3.27%	0.34%	0.04%	0.00%	0.00%	0.00%	0.00%
SMMIX Invesco Summit Fund	13.53%	14.78%	2.01%	0.00%	10.02%	20.10%	6.46%	8.44%	12.16%	3.77%	6.28%	6.88%

Frequently Asked Questions

Can I hold both SMMIX and BBLIX in my portfolio?

SMMIX and BBLIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMMIX or BBLIX?

SMMIX has higher volatility (5.24%) compared to BBLIX (0.00%). In terms of maximum drawdown, SMMIX dropped -69.64% vs BBLIX's -33.49%.

Which has better risk-adjusted returns?

BBLIX currently has the higher Sharpe Ratio (1.38 vs 1.20), 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.