SMMIX vs. SPY
Compare and contrast key facts about Invesco Summit Fund (SMMIX) and State Street SPDR S&P 500 ETF (SPY).
SMMIX is managed by Invesco. It was launched on Nov 1, 1982. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
SMMIX vs. SPY - Performance Comparison
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SMMIX vs. SPY - 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% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, SMMIX achieves a -13.57% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, SMMIX has underperformed SPY with an annualized return of 13.24%, while SPY has yielded a comparatively higher 13.98% 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%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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SMMIX vs. SPY - Expense Ratio Comparison
SMMIX has a 0.84% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
SMMIX vs. SPY — Risk / Return Rank
SMMIX
SPY
SMMIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Summit Fund (SMMIX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | 0.93 | -0.47 |
Sortino ratioReturn per unit of downside risk | 0.82 | 1.45 | -0.63 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.53 | -1.16 |
Martin ratioReturn relative to average drawdown | 1.12 | 7.30 | -6.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMMIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.93 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.69 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.78 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.56 | -0.09 |
Correlation
The correlation between SMMIX and SPY is 0.88, 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
SMMIX vs. SPY - Dividend Comparison
SMMIX's dividend yield for the trailing twelve months is around 17.10%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMIX Invesco Summit Fund | 17.10% | 14.78% | 2.01% | 0.00% | 10.02% | 20.10% | 6.46% | 8.44% | 12.16% | 3.77% | 6.28% | 6.88% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
SMMIX vs. SPY - Drawdown Comparison
The maximum SMMIX drawdown since its inception was -69.64%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SMMIX and SPY.
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Drawdown Indicators
| SMMIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.64% | -55.19% | -14.45% |
Max Drawdown (1Y)Largest decline over 1 year | -19.95% | -12.05% | -7.90% |
Max Drawdown (5Y)Largest decline over 5 years | -40.62% | -24.50% | -16.12% |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | -33.72% | -6.90% |
Current DrawdownCurrent decline from peak | -19.95% | -6.24% | -13.71% |
Average DrawdownAverage peak-to-trough decline | -19.33% | -9.09% | -10.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.49% | 2.52% | +3.97% |
Volatility
SMMIX vs. SPY - Volatility Comparison
Invesco Summit Fund (SMMIX) has a higher volatility of 7.16% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that SMMIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMMIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 5.31% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 15.76% | 9.47% | +6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.83% | 19.05% | +6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 17.06% | +6.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.77% | 17.92% | +4.85% |