SMTRX vs. MCFIX

Last updated Jul 17, 2026

SMTRX (ALPS/Smith Total Return Bond Fund) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.94 suggests significant overlap in exposure. SMTRX charges 0.99%/yr vs 0.16%/yr for MCFIX.

Performance

SMTRX vs. MCFIX - Performance Comparison

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

Returns By Period

SMTRX

• 1D: 0.21%
• 1M: -0.59%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCFIX

• 1D: -0.11%
• 1M: -0.57%
• 6M: -1.66%
• YTD: -1.77%
• 1Y: 1.50%
• 3Y*: 3.38%
• 5Y*: -0.50%
• 10Y*: —

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

SMTRX vs. MCFIX - Yearly Performance Comparison

	2026 (YTD)
SMTRX ALPS/Smith Total Return Bond Fund	-0.28%
MCFIX Mercer Core Fixed Income Fund	-0.57%

Correlation

The correlation between SMTRX and MCFIX is 0.94, 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	0.94

Return for Risk

SMTRX vs. MCFIX — 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.

MCFIX

MCFIX Risk / Return Rank: 6
MCFIX Sharpe Ratio Rank: 7
MCFIX Sortino Ratio Rank: 6
MCFIX Omega Ratio Rank: 6
MCFIX Calmar Ratio Rank: 6
MCFIX Martin Ratio Rank: 6

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. MCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Total Return Bond Fund (SMTRX) and Mercer Core Fixed Income Fund (MCFIX). 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	MCFIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.41	—
Sortino ratio: Return per unit of downside risk	—	0.62	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.44	—
Martin ratio: Return relative to average drawdown	—	1.02	—

Drawdowns

SMTRX vs. MCFIX - Drawdown Comparison

The maximum SMTRX drawdown since its inception was -1.34%, smaller than the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for SMTRX and MCFIX.

Drawdown Indicators

	SMTRX	MCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-1.34%	-21.68%	+20.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.72%	—
Current Drawdown Current decline from peak	-1.03%	-6.72%	+5.69%
Average Drawdown Average peak-to-trough decline	-0.39%	-8.50%	+8.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.55%	—

Volatility

Volatility by Period

	SMTRX	MCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	4.04%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.80%	6.05%	-2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	6.08%	-2.28%

SMTRX vs. MCFIX - Expense Ratio Comparison

SMTRX has a 0.99% expense ratio, which is higher than MCFIX's 0.16% expense ratio.

Dividends

SMTRX vs. MCFIX - Dividend Comparison

SMTRX's dividend yield for the trailing twelve months is around 0.72%, less than MCFIX's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021
MCFIX Mercer Core Fixed Income Fund	4.34%	3.89%	4.54%	3.68%	3.31%	2.45%
SMTRX ALPS/Smith Total Return Bond Fund	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMTRX and MCFIX in my portfolio?

With a correlation of 0.94, SMTRX and MCFIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.