SPATX vs. SPMFX
SPATX (Symmetry Panoramic Alternatives Fund) and SPMFX (Symmetry Panoramic Municipal Fixed Income Fund) are both mutual funds - SPATX is a Multistrategy fund managed by Symmetry Partners, while SPMFX is a Municipal Bonds fund managed by Symmetry Partners. Over the past 5 years, SPATX returned 9.28%/yr vs 1.06%/yr for SPMFX. Their -0.18 correlation means they have often moved in opposite directions in the past. SPATX charges 0.50%/yr vs 0.41%/yr for SPMFX.
Performance
SPATX vs. SPMFX - Performance Comparison
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Returns By Period
In the year-to-date period, SPATX achieves a 8.62% return, which is significantly higher than SPMFX's 0.46% return.
SPATX
- 1D
- 0.07%
- 1M
- 1.98%
- 6M
- 6.88%
- YTD
- 8.62%
- 1Y
- 14.44%
- 3Y*
- 10.48%
- 5Y*
- 9.28%
- 10Y*
- —
- ALL TIME*
- 7.15%
SPMFX
- 1D
- -0.10%
- 1M
- -1.29%
- 6M
- -0.21%
- YTD
- 0.46%
- 1Y
- 3.24%
- 3Y*
- 2.52%
- 5Y*
- 1.06%
- 10Y*
- —
- ALL TIME*
- 1.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SPATX vs. SPMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPATX Symmetry Panoramic Alternatives Fund | 8.62% | 11.09% | 1.50% | 11.90% | 12.80% | 5.86% | 3.42% | 0.00% | 0.64% |
SPMFX Symmetry Panoramic Municipal Fixed Income Fund | 0.46% | 3.23% | 1.81% | 3.41% | -3.04% | -0.31% | 1.47% | 2.31% | 0.88% |
Correlation
The correlation between SPATX and SPMFX is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.28 |
Correlation (3Y) Balances recent behavior with more history. | -0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018 | -0.18 |
The correlation between SPATX and SPMFX shifts across timeframes, from -0.28 (1 year) to -0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPATX vs. SPMFX — Risk / Return Rank
SPATX
SPMFX
SPATX vs. SPMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Symmetry Panoramic Alternatives Fund (SPATX) and Symmetry Panoramic Municipal Fixed Income Fund (SPMFX). 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.
| SPATX | SPMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.37 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 7.16 | 1.68 | +5.48 |
| Martin ratioReturn relative to average drawdown | 24.71 | 5.71 | +19.00 |
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Drawdowns
SPATX vs. SPMFX - Drawdown Comparison
The maximum SPATX drawdown since its inception was -11.67%, which is greater than SPMFX's maximum drawdown of -5.39%. Use the drawdown chart below to compare losses from any high point for SPATX and SPMFX.
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Drawdown Indicators
| SPATX | SPMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -5.39% | -6.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -2.26% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.89% | -2.86% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -5.89% | -5.39% | -0.50% |
Current DrawdownCurrent decline from peak | -0.52% | -1.29% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -1.68% | -1.00% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.66% | -0.10% |
Volatility
SPATX vs. SPMFX - Volatility Comparison
Symmetry Panoramic Alternatives Fund (SPATX) has a higher volatility of 1.16% compared to Symmetry Panoramic Municipal Fixed Income Fund (SPMFX) at 0.76%. This indicates that SPATX's price experiences larger fluctuations and is considered to be riskier than SPMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPATX | SPMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.76% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 1.95% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 2.31% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.25% | 1.99% | +4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.02% | 1.93% | +4.09% |
SPATX vs. SPMFX - Expense Ratio Comparison
SPATX has a 0.50% expense ratio, which is higher than SPMFX's 0.41% expense ratio.
Dividends
SPATX vs. SPMFX - Dividend Comparison
SPATX's dividend yield for the trailing twelve months is around 2.80%, more than SPMFX's 2.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPATX Symmetry Panoramic Alternatives Fund | 2.80% | 3.05% | 2.65% | 6.16% | 6.22% | 2.08% | 0.00% | 1.87% | 2.33% |
SPMFX Symmetry Panoramic Municipal Fixed Income Fund | 2.50% | 2.05% | 2.50% | 1.52% | 0.59% | 0.27% | 0.68% | 1.00% | 0.08% |
Frequently Asked Questions
SPATX and SPMFX have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPATX has higher volatility (1.16%) compared to SPMFX (0.76%). In terms of maximum drawdown, SPATX dropped -11.67% vs SPMFX's -5.39%.
SPATX currently has the higher Sharpe Ratio (3.55 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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