SMRSX vs. LPEFX
SMRSX (ALPS/Smith Short Duration Bond Fund) and LPEFX (ALPS/Red Rocks Global Opportunity Fund) are both mutual funds - SMRSX is a Short-Term Bond fund managed by ALPS, while LPEFX is a Global Equities fund managed by ALPS. Over the past 5 years, SMRSX returned 2.23%/yr vs 2.07%/yr for LPEFX. Their 0.19 correlation means their historical movements had little consistent relationship. SMRSX charges 0.93%/yr vs 1.46%/yr for LPEFX.
Performance
SMRSX vs. LPEFX - Performance Comparison
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Returns By Period
In the year-to-date period, SMRSX achieves a 0.91% return, which is significantly higher than LPEFX's -2.11% return.
SMRSX
- 1D
- 0.10%
- 1M
- 0.03%
- 6M
- 0.71%
- YTD
- 0.91%
- 1Y
- 2.79%
- 3Y*
- 4.59%
- 5Y*
- 2.23%
- 10Y*
- —
- ALL TIME*
- 2.79%
LPEFX
- 1D
- 2.58%
- 1M
- 6.10%
- 6M
- 2.96%
- YTD
- -2.11%
- 1Y
- -3.27%
- 3Y*
- 9.38%
- 5Y*
- 2.07%
- 10Y*
- 9.82%
- ALL TIME*
- 4.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SMRSX vs. LPEFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SMRSX ALPS/Smith Short Duration Bond Fund | 0.91% | 5.38% | 4.50% | 4.73% | -3.47% | -0.39% | 6.27% | 4.13% | 0.87% |
LPEFX ALPS/Red Rocks Global Opportunity Fund | -2.11% | 1.25% | 17.78% | 28.31% | -28.82% | 23.70% | 9.35% | 49.57% | -11.36% |
Correlation
The correlation between SMRSX and LPEFX is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2018 | 0.19 |
Over the past year, SMRSX and LPEFX have become more correlated (0.41) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
SMRSX vs. LPEFX — Risk / Return Rank
SMRSX
LPEFX
SMRSX vs. LPEFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Short Duration Bond Fund (SMRSX) and ALPS/Red Rocks Global Opportunity Fund (LPEFX). 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.
| SMRSX | LPEFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.26 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.99 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | -0.12 | +3.08 |
| Martin ratioReturn relative to average drawdown | 12.00 | -0.25 | +12.25 |
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Drawdowns
SMRSX vs. LPEFX - Drawdown Comparison
The maximum SMRSX drawdown since its inception was -5.62%, smaller than the maximum LPEFX drawdown of -77.00%. Use the drawdown chart below to compare losses from any high point for SMRSX and LPEFX.
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Drawdown Indicators
| SMRSX | LPEFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.62% | -77.00% | +71.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.95% | -21.54% | +20.59% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -22.00% | +21.05% |
Max Drawdown (5Y)Largest decline over 5 years | -5.62% | -49.19% | +43.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.19% | — |
Current DrawdownCurrent decline from peak | -0.06% | -14.45% | +14.39% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -22.73% | +21.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 10.01% | -9.78% |
Volatility
SMRSX vs. LPEFX - Volatility Comparison
The current volatility for ALPS/Smith Short Duration Bond Fund (SMRSX) is 0.38%, while ALPS/Red Rocks Global Opportunity Fund (LPEFX) has a volatility of 5.34%. This indicates that SMRSX experiences smaller price fluctuations and is considered to be less risky than LPEFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMRSX | LPEFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 5.34% | -4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 15.14% | -14.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 18.59% | -17.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.71% | 24.69% | -22.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 22.71% | -21.13% |
SMRSX vs. LPEFX - Expense Ratio Comparison
SMRSX has a 0.93% expense ratio, which is lower than LPEFX's 1.46% expense ratio.
Dividends
SMRSX vs. LPEFX - Dividend Comparison
SMRSX's dividend yield for the trailing twelve months is around 3.86%, less than LPEFX's 15.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LPEFX ALPS/Red Rocks Global Opportunity Fund | 15.71% | 15.38% | 15.95% | 5.56% | 0.00% | 26.79% | 3.96% | 21.96% | 4.58% | 13.29% | 1.55% | 8.21% |
SMRSX ALPS/Smith Short Duration Bond Fund | 3.86% | 3.95% | 4.11% | 3.50% | 0.84% | 0.56% | 1.92% | 2.86% | 0.87% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMRSX and LPEFX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LPEFX has higher volatility (5.34%) compared to SMRSX (0.38%). In terms of maximum drawdown, SMRSX dropped -5.62% vs LPEFX's -77.00%.
SMRSX currently has the higher Sharpe Ratio (2.12 vs -0.14), 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.
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