SMTRX vs. INDAX

Last updated Jun 4, 2026

SMTRX (ALPS/Smith Total Return Bond Fund) and INDAX (ALPS/Kotak India ESG Fund) are both mutual funds - SMTRX is a Intermediate Core-Plus Bond fund managed by ALPS, while INDAX is a Asia Pacific Equities fund managed by ALPS. Their correlation of 0.87 suggests significant overlap in exposure. SMTRX charges 0.99%/yr vs 1.33%/yr for INDAX.

Performance

SMTRX vs. INDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Smith Total Return Bond Fund (SMTRX) and ALPS/Kotak India ESG Fund (INDAX). 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*: —

INDAX

• 1D: -0.44%
• 1M: -2.78%
• YTD: -14.39%
• 6M: -13.28%
• 1Y: -14.47%
• 3Y*: 3.08%
• 5Y*: 1.85%
• 10Y*: 6.87%

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

SMTRX vs. INDAX - Yearly Performance Comparison

	2026 (YTD)
SMTRX ALPS/Smith Total Return Bond Fund	0.10%
INDAX ALPS/Kotak India ESG Fund	-1.80%

Correlation

The correlation between SMTRX and INDAX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

SMTRX vs. INDAX - Sectors Allocation Comparison

Sectors	SMTRX	INDAX
Financial Services	2.4%	32.9%
Basic Materials	-	5.5%
Communication Services	-	7.2%
Consumer Cyclical	-	14.8%
Consumer Defensive	-	4.3%
Energy	-	7.2%
Healthcare	-	5.8%
Industrials	-	10.4%
Real Estate	-	1.3%
Technology	-	8.7%
Utilities	-	-

Return for Risk

SMTRX vs. INDAX — Risk / Return Rank

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

INDAX

INDAX Risk / Return Rank: 0
INDAX Sharpe Ratio Rank: 0
INDAX Sortino Ratio Rank: 0
INDAX Omega Ratio Rank: 1
INDAX Calmar Ratio Rank: 1
INDAX Martin Ratio Rank: 0

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. INDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Total Return Bond Fund (SMTRX) and ALPS/Kotak India ESG Fund (INDAX). 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	INDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.86	0.35	+5.51

Drawdowns

SMTRX vs. INDAX - Drawdown Comparison

The maximum SMTRX drawdown since its inception was -0.10%, smaller than the maximum INDAX drawdown of -43.98%. Use the drawdown chart below to compare losses from any high point for SMTRX and INDAX.

Drawdown Indicators

	SMTRX	INDAX	Difference
Max Drawdown Largest peak-to-trough decline	-0.10%	-43.98%	+43.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.98%	—
Current Drawdown Current decline from peak	0.00%	-20.39%	+20.39%
Average Drawdown Average peak-to-trough decline	-0.03%	-10.76%	+10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.80%	—

Volatility

Volatility by Period

	SMTRX	INDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	14.51%	-12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.90%	15.08%	-13.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.90%	16.85%	-14.95%

SMTRX vs. INDAX - Expense Ratio Comparison

SMTRX has a 0.99% expense ratio, which is lower than INDAX's 1.33% expense ratio.

Dividends

SMTRX vs. INDAX - Dividend Comparison

SMTRX's dividend yield for the trailing twelve months is around 0.36%, less than INDAX's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDAX ALPS/Kotak India ESG Fund	6.57%	5.62%	16.14%	4.43%	1.65%	5.48%	0.00%	1.30%	6.55%	2.79%	1.32%	15.14%
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 INDAX in my portfolio?

SMTRX and INDAX 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.