SMTRX vs. AAIIX

Last updated Jun 4, 2026

SMTRX (ALPS/Smith Total Return Bond Fund) and AAIIX (Ancora Income Fund) are both Intermediate Core-Plus Bond funds. At a correlation of -0.87, they often move in opposite directions. SMTRX charges 0.99%/yr vs 2.20%/yr for AAIIX.

Performance

SMTRX vs. AAIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Smith Total Return Bond Fund (SMTRX) and Ancora Income Fund (AAIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMTRX

• 1D: 0.10%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAIIX

• 1D: -0.28%
• 1M: -0.35%
• YTD: 2.39%
• 6M: 2.46%
• 1Y: 7.71%
• 3Y*: 6.83%
• 5Y*: 2.02%
• 10Y*: 3.17%

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

SMTRX vs. AAIIX - Yearly Performance Comparison

	2026 (YTD)
SMTRX ALPS/Smith Total Return Bond Fund	0.10%
AAIIX Ancora Income Fund	-0.14%

Correlation

The correlation between SMTRX and AAIIX is -0.87, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.87

Return for Risk

SMTRX vs. AAIIX — Risk / Return Rank

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

AAIIX

AAIIX Risk / Return Rank: 34
AAIIX Sharpe Ratio Rank: 39
AAIIX Sortino Ratio Rank: 39
AAIIX Omega Ratio Rank: 41
AAIIX Calmar Ratio Rank: 27
AAIIX Martin Ratio Rank: 25

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.

SMTRX vs. AAIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Total Return Bond Fund (SMTRX) and Ancora Income Fund (AAIIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SMTRX	AAIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.86	0.00	+5.86

Drawdowns

SMTRX vs. AAIIX - Drawdown Comparison

The maximum SMTRX drawdown since its inception was -0.10%, smaller than the maximum AAIIX drawdown of -98.01%. Use the drawdown chart below to compare losses from any high point for SMTRX and AAIIX.

Drawdown Indicators

	SMTRX	AAIIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.10%	-98.01%	+97.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-98.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-98.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.01%	—
Current Drawdown Current decline from peak	0.00%	-97.78%	+97.78%
Average Drawdown Average peak-to-trough decline	-0.03%	-12.34%	+12.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.30%	—

Volatility

Volatility by Period

	SMTRX	AAIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	4.48%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.90%	2,044.45%	-2,042.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.90%	1,445.64%	-1,443.74%

SMTRX vs. AAIIX - Expense Ratio Comparison

SMTRX has a 0.99% expense ratio, which is lower than AAIIX's 2.20% expense ratio.

Dividends

SMTRX vs. AAIIX - Dividend Comparison

SMTRX's dividend yield for the trailing twelve months is around 0.36%, less than AAIIX's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIIX Ancora Income Fund	5.20%	4.09%	4.57%	4.77%	4.52%	4.46%	5.68%	3.96%	4.36%	5.69%	6.40%	6.99%
SMTRX ALPS/Smith Total Return Bond Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMTRX and AAIIX in my portfolio?

SMTRX and AAIIX have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.