SMTRX vs. PINCX

Last updated Jun 24, 2026

SMTRX (ALPS/Smith Total Return Bond Fund) and PINCX (Putnam Income Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.83 suggests significant overlap in exposure. SMTRX charges 0.99%/yr vs 0.73%/yr for PINCX.

Performance

SMTRX vs. PINCX - Performance Comparison

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

PINCX

• 1D: -0.20%
• 1M: 0.76%
• YTD: 0.92%
• 6M: 1.08%
• 1Y: 5.04%
• 3Y*: 4.87%
• 5Y*: -0.34%
• 10Y*: 2.06%

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

SMTRX vs. PINCX - Yearly Performance Comparison

	2026 (YTD)
SMTRX ALPS/Smith Total Return Bond Fund	0.00%
PINCX Putnam Income Fund	0.40%

Correlation

The correlation between SMTRX and PINCX is 0.83, 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	0.83

Return for Risk

SMTRX vs. PINCX — 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.

PINCX

PINCX Risk / Return Rank: 32
PINCX Sharpe Ratio Rank: 30
PINCX Sortino Ratio Rank: 32
PINCX Omega Ratio Rank: 33
PINCX Calmar Ratio Rank: 37
PINCX Martin Ratio Rank: 30

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. PINCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Smith Total Return Bond Fund (SMTRX) and Putnam Income Fund (PINCX). 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	PINCX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.45	—
Sortino ratio: Return per unit of downside risk	—	2.17	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.20	—
Martin ratio: Return relative to average drawdown	—	6.53	—

Drawdowns

SMTRX vs. PINCX - Drawdown Comparison

The maximum SMTRX drawdown since its inception was -0.62%, smaller than the maximum PINCX drawdown of -30.57%. Use the drawdown chart below to compare losses from any high point for SMTRX and PINCX.

Drawdown Indicators

	SMTRX	PINCX	Difference
Max Drawdown Largest peak-to-trough decline	-0.62%	-30.57%	+29.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.40%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.78%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.16%	—
Current Drawdown Current decline from peak	-0.31%	-3.95%	+3.64%
Average Drawdown Average peak-to-trough decline	-0.18%	-4.33%	+4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.81%	—

Volatility

Volatility by Period

	SMTRX	PINCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	3.63%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	6.22%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	5.28%	-1.64%

SMTRX vs. PINCX - Expense Ratio Comparison

SMTRX has a 0.99% expense ratio, which is higher than PINCX's 0.73% expense ratio.

Dividends

SMTRX vs. PINCX - Dividend Comparison

SMTRX's dividend yield for the trailing twelve months is around 0.36%, less than PINCX's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PINCX Putnam Income Fund	4.55%	4.63%	8.70%	7.35%	7.70%	2.15%	5.46%	4.65%	3.57%	3.46%	3.21%	3.03%
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 PINCX in my portfolio?

SMTRX and PINCX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.