SPMAX vs. MISIX
Compare and contrast key facts about Saratoga Mid Capitalization Portfolio (SPMAX) and Victory Trivalent International Small-Cap Fund Class I (MISIX).
SPMAX is managed by Saratoga. It was launched on Jun 28, 2002. MISIX is managed by Victory.
Performance
SPMAX vs. MISIX - Performance Comparison
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SPMAX vs. MISIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMAX Saratoga Mid Capitalization Portfolio | -2.04% | 9.76% | 17.27% | 15.52% | -11.91% | 19.87% | 9.67% | 29.93% | -16.98% | 12.86% |
MISIX Victory Trivalent International Small-Cap Fund Class I | -0.70% | 42.00% | 4.70% | 15.49% | -23.13% | 12.41% | 15.42% | 27.88% | -20.20% | 37.14% |
Returns By Period
In the year-to-date period, SPMAX achieves a -2.04% return, which is significantly lower than MISIX's -0.70% return. Over the past 10 years, SPMAX has underperformed MISIX with an annualized return of 8.13%, while MISIX has yielded a comparatively higher 9.25% annualized return.
SPMAX
- 1D
- -2.36%
- 1M
- -11.02%
- YTD
- -2.04%
- 6M
- -0.94%
- 1Y
- 13.05%
- 3Y*
- 12.94%
- 5Y*
- 6.94%
- 10Y*
- 8.13%
MISIX
- 1D
- -0.60%
- 1M
- -13.84%
- YTD
- -0.70%
- 6M
- 4.64%
- 1Y
- 33.88%
- 3Y*
- 16.76%
- 5Y*
- 7.07%
- 10Y*
- 9.25%
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SPMAX vs. MISIX - Expense Ratio Comparison
SPMAX has a 2.06% expense ratio, which is higher than MISIX's 0.97% expense ratio.
Return for Risk
SPMAX vs. MISIX — Risk / Return Rank
SPMAX
MISIX
SPMAX vs. MISIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Mid Capitalization Portfolio (SPMAX) and Victory Trivalent International Small-Cap Fund Class I (MISIX). 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.
| SPMAX | MISIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.66 | 1.97 | -1.31 |
Sortino ratioReturn per unit of downside risk | 1.04 | 2.54 | -1.50 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.39 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.24 | -1.28 |
Martin ratioReturn relative to average drawdown | 3.28 | 9.80 | -6.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMAX | MISIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 1.97 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.40 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.52 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.31 | +0.07 |
Correlation
The correlation between SPMAX and MISIX is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPMAX vs. MISIX - Dividend Comparison
SPMAX's dividend yield for the trailing twelve months is around 33.57%, more than MISIX's 6.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMAX Saratoga Mid Capitalization Portfolio | 33.57% | 32.89% | 18.90% | 1.28% | 2.11% | 16.31% | 9.56% | 0.01% | 13.58% | 8.25% | 8.08% | 5.04% |
MISIX Victory Trivalent International Small-Cap Fund Class I | 6.09% | 6.05% | 2.27% | 1.90% | 1.12% | 8.61% | 0.41% | 1.99% | 3.59% | 1.85% | 1.56% | 1.21% |
Drawdowns
SPMAX vs. MISIX - Drawdown Comparison
The maximum SPMAX drawdown since its inception was -52.68%, smaller than the maximum MISIX drawdown of -67.61%. Use the drawdown chart below to compare losses from any high point for SPMAX and MISIX.
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Drawdown Indicators
| SPMAX | MISIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.68% | -67.61% | +14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -12.82% | -13.84% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -23.42% | -37.69% | +14.27% |
Max Drawdown (10Y)Largest decline over 10 years | -42.83% | -41.82% | -1.01% |
Current DrawdownCurrent decline from peak | -12.39% | -13.84% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -16.99% | +8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 3.16% | +0.56% |
Volatility
SPMAX vs. MISIX - Volatility Comparison
Saratoga Mid Capitalization Portfolio (SPMAX) has a higher volatility of 7.80% compared to Victory Trivalent International Small-Cap Fund Class I (MISIX) at 6.80%. This indicates that SPMAX's price experiences larger fluctuations and is considered to be riskier than MISIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMAX | MISIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.80% | 6.80% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 11.32% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.14% | 16.62% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 17.68% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.14% | 17.78% | +2.36% |