SVARX vs. KAMIX

Last updated Apr 1, 2026

Compare and contrast key facts about Spectrum Low Volatility Fund (SVARX) and Kensington Managed Income Fund (KAMIX).

SVARX is managed by Advisors Preferred. It was launched on Dec 15, 2013. KAMIX is managed by Advisors Preferred. It was launched on May 30, 2019.

Performance

SVARX vs. KAMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spectrum Low Volatility Fund (SVARX) and Kensington Managed Income Fund (KAMIX). The values are adjusted to include any dividend payments, if applicable.

SVARX vs. KAMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SVARX Spectrum Low Volatility Fund	0.21%	6.22%	2.60%	9.67%	-0.79%
KAMIX Kensington Managed Income Fund	-1.31%	4.32%	4.38%	3.96%	-2.13%

Returns By Period

In the year-to-date period, SVARX achieves a 0.21% return, which is significantly higher than KAMIX's -1.31% return.

SVARX

• 1D: -0.08%
• 1M: -2.55%
• YTD: 0.21%
• 6M: 2.28%
• 1Y: 5.55%
• 3Y*: 6.02%
• 5Y*: 3.36%
• 10Y*: 6.49%

KAMIX

• 1D: 0.14%
• 1M: -2.22%
• YTD: -1.31%
• 6M: -0.24%
• 1Y: 3.27%
• 3Y*: 3.87%
• 5Y*: —
• 10Y*: —

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

SVARX vs. KAMIX - Expense Ratio Comparison

SVARX has a 2.34% expense ratio, which is higher than KAMIX's 1.36% expense ratio.

SVARX

Spectrum Low Volatility Fund

KAMIX

Kensington Managed Income Fund

Return for Risk

SVARX vs. KAMIX — Risk / Return Rank

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

SVARX

SVARX Risk / Return Rank: 89
SVARX Sharpe Ratio Rank: 94
SVARX Sortino Ratio Rank: 92
SVARX Omega Ratio Rank: 93
SVARX Calmar Ratio Rank: 86
SVARX Martin Ratio Rank: 78

KAMIX

KAMIX Risk / Return Rank: 39
KAMIX Sharpe Ratio Rank: 49
KAMIX Sortino Ratio Rank: 38
KAMIX Omega Ratio Rank: 54
KAMIX Calmar Ratio Rank: 30
KAMIX Martin Ratio Rank: 22

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.

SVARX vs. KAMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spectrum Low Volatility Fund (SVARX) and Kensington Managed Income Fund (KAMIX). 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.

	SVARX	KAMIX	Difference
Sharpe ratio Return per unit of total volatility	2.09	0.96	+1.14
Sortino ratio Return per unit of downside risk	2.77	1.22	+1.54
Omega ratio Gain probability vs. loss probability	1.45	1.21	+0.24
Calmar ratio Return relative to maximum drawdown	2.16	0.86	+1.30
Martin ratio Return relative to average drawdown	7.53	2.28	+5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVARX vs. KAMIX - Sharpe Ratio Comparison

The current SVARX Sharpe Ratio is 2.09, which is higher than the KAMIX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of SVARX and KAMIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SVARX	KAMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	0.96	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.63	+1.06

Correlation

The correlation between SVARX and KAMIX is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SVARX vs. KAMIX - Dividend Comparison

SVARX's dividend yield for the trailing twelve months is around 5.93%, more than KAMIX's 5.77% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SVARX Spectrum Low Volatility Fund	5.93%	5.95%	9.35%	3.35%	0.00%	5.85%	0.71%	4.91%	2.41%	6.90%	9.07%	3.02%
KAMIX Kensington Managed Income Fund	5.77%	4.57%	5.60%	4.15%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SVARX vs. KAMIX - Drawdown Comparison

The maximum SVARX drawdown since its inception was -6.48%, which is greater than KAMIX's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for SVARX and KAMIX.

Drawdown Indicators

	SVARX	KAMIX	Difference
Max Drawdown Largest peak-to-trough decline	-6.48%	-6.11%	-0.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	-2.57%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-6.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-6.48%	—	—
Current Drawdown Current decline from peak	-2.55%	-2.42%	-0.13%
Average Drawdown Average peak-to-trough decline	-1.21%	-2.24%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.97%	-0.24%

Volatility

SVARX vs. KAMIX - Volatility Comparison

The current volatility for Spectrum Low Volatility Fund (SVARX) is 1.29%, while Kensington Managed Income Fund (KAMIX) has a volatility of 1.45%. This indicates that SVARX experiences smaller price fluctuations and is considered to be less risky than KAMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVARX	KAMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	1.45%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.10%	2.19%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	3.44%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.08%	3.80%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	3.80%	-0.09%