UEIIX vs. SMIFX

Last updated Jun 6, 2026

UEIIX (Invesco V.I. Equity and Income Fund) and SMIFX (Sound Mind Investing Fund) are both Diversified Portfolio funds. Over the past 10 years, UEIIX returned 9.05%/yr vs 9.48%/yr for SMIFX. Their correlation of 0.83 suggests significant overlap in exposure. UEIIX charges 0.81%/yr vs 1.19%/yr for SMIFX.

Performance

UEIIX vs. SMIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco V.I. Equity and Income Fund (UEIIX) and Sound Mind Investing Fund (SMIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UEIIX achieves a 6.79% return, which is significantly lower than SMIFX's 16.98% return. Both investments have delivered pretty close results over the past 10 years, with UEIIX having a 9.05% annualized return and SMIFX not far ahead at 9.48%.

UEIIX

• 1D: 1.10%
• 1M: 0.52%
• YTD: 6.79%
• 6M: 7.68%
• 1Y: 18.48%
• 3Y*: 13.79%
• 5Y*: 7.11%
• 10Y*: 9.05%

SMIFX

• 1D: 0.09%
• 1M: 1.80%
• YTD: 16.98%
• 6M: 16.53%
• 1Y: 20.67%
• 3Y*: 13.24%
• 5Y*: 5.90%
• 10Y*: 9.48%

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

UEIIX vs. SMIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEIIX Invesco V.I. Equity and Income Fund	6.79%	12.55%	11.92%	10.23%	-7.72%	18.37%	9.74%	19.96%	-9.69%	10.78%
SMIFX Sound Mind Investing Fund	16.98%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%

Correlation

The correlation between UEIIX and SMIFX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Dec 8, 2005	0.83

The correlation between UEIIX and SMIFX has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

Return for Risk

UEIIX vs. SMIFX — Risk / Return Rank

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

UEIIX

UEIIX Risk / Return Rank: 69
UEIIX Sharpe Ratio Rank: 65
UEIIX Sortino Ratio Rank: 67
UEIIX Omega Ratio Rank: 63
UEIIX Calmar Ratio Rank: 75
UEIIX Martin Ratio Rank: 76

SMIFX

SMIFX Risk / Return Rank: 42
SMIFX Sharpe Ratio Rank: 39
SMIFX Sortino Ratio Rank: 36
SMIFX Omega Ratio Rank: 37
SMIFX Calmar Ratio Rank: 55
SMIFX Martin Ratio Rank: 43

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.

UEIIX vs. SMIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco V.I. Equity and Income Fund (UEIIX) and Sound Mind Investing Fund (SMIFX). 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.

	UEIIX	SMIFX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.76	+0.55
Sortino ratio: Return per unit of downside risk	3.33	2.42	+0.90
Omega ratio: Gain probability vs. loss probability	1.43	1.31	+0.11
Calmar ratio: Return relative to maximum drawdown	3.29	2.75	+0.54
Martin ratio: Return relative to average drawdown	13.77	8.82	+4.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UEIIX vs. SMIFX - Sharpe Ratio Comparison

The current UEIIX Sharpe Ratio is 2.31, which is higher than the SMIFX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of UEIIX and SMIFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UEIIX	SMIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	1.76	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.20	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.39	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.32	+0.33

Drawdowns

UEIIX vs. SMIFX - Drawdown Comparison

The maximum UEIIX drawdown since its inception was -38.95%, smaller than the maximum SMIFX drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for UEIIX and SMIFX.

Drawdown Indicators

	UEIIX	SMIFX	Difference
Max Drawdown Largest peak-to-trough decline	-38.95%	-54.33%	+15.38%
Max Drawdown (1Y) Largest decline over 1 year	-5.60%	-7.42%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-19.98%	+7.69%
Max Drawdown (5Y) Largest decline over 5 years	-16.90%	-41.36%	+24.46%
Max Drawdown (10Y) Largest decline over 10 years	-29.61%	-41.36%	+11.75%
Current Drawdown Current decline from peak	0.00%	-8.66%	+8.66%
Average Drawdown Average peak-to-trough decline	-4.55%	-14.28%	+9.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	2.31%	-0.97%

Volatility

UEIIX vs. SMIFX - Volatility Comparison

The current volatility for Invesco V.I. Equity and Income Fund (UEIIX) is 2.31%, while Sound Mind Investing Fund (SMIFX) has a volatility of 2.90%. This indicates that UEIIX experiences smaller price fluctuations and is considered to be less risky than SMIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEIIX	SMIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	2.90%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	6.19%	8.89%	-2.70%
Volatility (1Y) Calculated over the trailing 1-year period	7.97%	11.61%	-3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.10%	29.03%	-17.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.70%	24.17%	-11.47%

UEIIX vs. SMIFX - Expense Ratio Comparison

UEIIX has a 0.81% expense ratio, which is lower than SMIFX's 1.19% expense ratio.

Dividends

UEIIX vs. SMIFX - Dividend Comparison

UEIIX's dividend yield for the trailing twelve months is around 6.95%, more than SMIFX's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMIFX Sound Mind Investing Fund	4.56%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%
UEIIX Invesco V.I. Equity and Income Fund	6.95%	7.42%	5.66%	7.20%	18.01%	2.61%	6.42%	9.95%	7.58%	3.22%	4.64%	13.33%

Frequently Asked Questions

Can I hold both UEIIX and SMIFX in my portfolio?

UEIIX and SMIFX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEIIX or SMIFX?

SMIFX has higher volatility (2.90%) compared to UEIIX (2.31%). In terms of maximum drawdown, UEIIX dropped -38.95% vs SMIFX's -54.33%.

Which has better risk-adjusted returns?

UEIIX currently has the higher Sharpe Ratio (2.31 vs 1.76), 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.