SSASX vs. SMTRX

Last updated Jun 4, 2026

SSASX (State Street Income Fund) and SMTRX (ALPS/Smith Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Their correlation of 0.87 suggests significant overlap in exposure. SSASX charges 0.20%/yr vs 0.99%/yr for SMTRX.

Performance

SSASX vs. SMTRX - Performance Comparison

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

Returns By Period

SSASX

• 1D: 0.00%
• 1M: 0.35%
• YTD: -0.00%
• 6M: -0.08%
• 1Y: 5.12%
• 3Y*: 2.95%
• 5Y*: -0.64%
• 10Y*: —

SMTRX

• 1D: 0.10%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SSASX vs. SMTRX - Yearly Performance Comparison

	2026 (YTD)
SSASX State Street Income Fund	0.35%
SMTRX ALPS/Smith Total Return Bond Fund	0.10%

Correlation

The correlation between SSASX and SMTRX is 0.87, 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 29, 2026	0.87

Return for Risk

SSASX vs. SMTRX — Risk / Return Rank

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

SSASX

SSASX Risk / Return Rank: 18
SSASX Sharpe Ratio Rank: 18
SSASX Sortino Ratio Rank: 19
SSASX Omega Ratio Rank: 17
SSASX Calmar Ratio Rank: 17
SSASX Martin Ratio Rank: 16

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.

SSASX vs. SMTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Income Fund (SSASX) and ALPS/Smith Total Return Bond Fund (SMTRX). 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.

	SSASX	SMTRX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	—	—
Sortino ratio: Return per unit of downside risk	1.83	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.50	—	—
Martin ratio: Return relative to average drawdown	4.51	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SSASX	SMTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	5.86	-5.96

Drawdowns

SSASX vs. SMTRX - Drawdown Comparison

The maximum SSASX drawdown since its inception was -19.65%, which is greater than SMTRX's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for SSASX and SMTRX.

Drawdown Indicators

	SSASX	SMTRX	Difference
Max Drawdown Largest peak-to-trough decline	-19.65%	-0.10%	-19.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.65%	—	—
Current Drawdown Current decline from peak	-5.26%	0.00%	-5.26%
Average Drawdown Average peak-to-trough decline	-9.68%	-0.03%	-9.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	—	—

Volatility

Volatility by Period

	SSASX	SMTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	1.90%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.49%	1.90%	+4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	1.90%	+4.59%

SSASX vs. SMTRX - Expense Ratio Comparison

SSASX has a 0.20% expense ratio, which is lower than SMTRX's 0.99% expense ratio.

Dividends

SSASX vs. SMTRX - Dividend Comparison

SSASX's dividend yield for the trailing twelve months is around 4.00%, more than SMTRX's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021
SMTRX ALPS/Smith Total Return Bond Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%
SSASX State Street Income Fund	4.00%	4.01%	2.76%	2.86%	2.48%	3.77%

Frequently Asked Questions

Can I hold both SSASX and SMTRX in my portfolio?

SSASX and SMTRX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.