SMTRX vs. IPIIX

Last updated Jun 24, 2026

SMTRX (ALPS/Smith Total Return Bond Fund) and IPIIX (Voya Intermediate Bond Portfolio) are both Intermediate Core-Plus Bond funds. Their correlation of 0.89 suggests significant overlap in exposure. SMTRX charges 0.99%/yr vs 0.55%/yr for IPIIX.

Performance

SMTRX vs. IPIIX - Performance Comparison

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

Returns By Period

SMTRX

• 1D: -0.31%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IPIIX

• 1D: -0.27%
• 1M: 0.77%
• YTD: 0.59%
• 6M: 1.00%
• 1Y: 4.01%
• 3Y*: 4.54%
• 5Y*: -0.01%
• 10Y*: 1.94%

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

SMTRX vs. IPIIX - Yearly Performance Comparison

	2026 (YTD)
SMTRX ALPS/Smith Total Return Bond Fund	0.00%
IPIIX Voya Intermediate Bond Portfolio	0.40%

Correlation

The correlation between SMTRX and IPIIX is 0.89, 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 28, 2026	0.89

Return for Risk

SMTRX vs. IPIIX — Risk / Return Rank

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

SMTRX

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

IPIIX

IPIIX Risk / Return Rank: 17
IPIIX Sharpe Ratio Rank: 15
IPIIX Sortino Ratio Rank: 16
IPIIX Omega Ratio Rank: 16
IPIIX Calmar Ratio Rank: 21
IPIIX Martin Ratio Rank: 18

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. IPIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Total Return Bond Fund (SMTRX) and Voya Intermediate Bond Portfolio (IPIIX). 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.

	SMTRX	IPIIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.01	—
Sortino ratio: Return per unit of downside risk	—	1.52	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.54	—
Martin ratio: Return relative to average drawdown	—	4.37	—

Drawdowns

SMTRX vs. IPIIX - Drawdown Comparison

The maximum SMTRX drawdown since its inception was -0.62%, smaller than the maximum IPIIX drawdown of -35.19%. Use the drawdown chart below to compare losses from any high point for SMTRX and IPIIX.

Drawdown Indicators

	SMTRX	IPIIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-35.19%	+34.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.28%	—
Current Drawdown Current decline from peak	-0.31%	-1.91%	+1.60%
Average Drawdown Average peak-to-trough decline	-0.18%	-7.98%	+7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.03%	—

Volatility

Volatility by Period

	SMTRX	IPIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	4.63%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	5.92%	-2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	5.01%	-1.37%

SMTRX vs. IPIIX - Expense Ratio Comparison

SMTRX has a 0.99% expense ratio, which is higher than IPIIX's 0.55% expense ratio.

Dividends

SMTRX vs. IPIIX - Dividend Comparison

SMTRX's dividend yield for the trailing twelve months is around 0.36%, less than IPIIX's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPIIX Voya Intermediate Bond Portfolio	3.96%	3.85%	4.29%	3.32%	2.54%	2.48%	5.67%	3.46%	3.71%	3.35%	3.20%	3.65%
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 IPIIX in my portfolio?

SMTRX and IPIIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.