XPMIX vs. FSLTX
XPMIX (StepStone Private Markets Fund Class I) and FSLTX (Strategic Advisers Alternatives Fund) are both Multistrategy funds. Both are actively managed. Over the past 3 years, XPMIX returned 12.58%/yr vs 8.71%/yr for FSLTX. At a 0.13 correlation, their price movements are largely independent. XPMIX charges 2.34%/yr vs 1.56%/yr for FSLTX.
Performance
XPMIX vs. FSLTX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XPMIX achieves a 5.39% return, which is significantly lower than FSLTX's 5.69% return.
XPMIX
- 1D
- -0.34%
- 1M
- 0.97%
- YTD
- 5.39%
- 6M
- 6.07%
- 1Y
- 11.07%
- 3Y*
- 12.58%
- 5Y*
- 13.02%
- 10Y*
- —
FSLTX
- 1D
- 0.10%
- 1M
- 0.68%
- YTD
- 5.69%
- 6M
- 6.01%
- 1Y
- 10.27%
- 3Y*
- 8.71%
- 5Y*
- —
- 10Y*
- —
XPMIX vs. FSLTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XPMIX StepStone Private Markets Fund Class I | 5.39% | 11.78% | 12.97% | 12.21% |
FSLTX Strategic Advisers Alternatives Fund | 5.69% | 7.69% | 10.10% | 1.68% |
Correlation
The correlation between XPMIX and FSLTX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.13 |
The correlation between XPMIX and FSLTX shifts across timeframes, from 0.13 (3 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XPMIX vs. FSLTX — Risk / Return Rank
XPMIX
FSLTX
XPMIX vs. FSLTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for StepStone Private Markets Fund Class I (XPMIX) and Strategic Advisers Alternatives Fund (FSLTX). 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.
| XPMIX | FSLTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -4.73 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 2.65 | -1.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.32 | 12.21 | -7.90 |
| Martin ratioReturn relative to average drawdown | 16.93 | 56.54 | -39.61 |
Loading charts...
Drawdowns
XPMIX vs. FSLTX - Drawdown Comparison
The maximum XPMIX drawdown since its inception was -3.71%, roughly equal to the maximum FSLTX drawdown of -3.78%. Use the drawdown chart below to compare losses from any high point for XPMIX and FSLTX.
Loading charts...
Drawdown Indicators
| XPMIX | FSLTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -3.78% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -1.00% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.13% | -3.78% | +0.65% |
Max Drawdown (5Y)Largest decline over 5 years | -3.13% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -0.60% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.26% | +0.40% |
Volatility
XPMIX vs. FSLTX - Volatility Comparison
StepStone Private Markets Fund Class I (XPMIX) has a higher volatility of 1.39% compared to Strategic Advisers Alternatives Fund (FSLTX) at 0.52%. This indicates that XPMIX's price experiences larger fluctuations and is considered to be riskier than FSLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XPMIX | FSLTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.52% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 1.55% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 2.18% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 4.85% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.95% | 4.85% | +5.10% |
XPMIX vs. FSLTX - Expense Ratio Comparison
XPMIX has a 2.34% expense ratio, which is higher than FSLTX's 1.56% expense ratio.
Dividends
XPMIX vs. FSLTX - Dividend Comparison
XPMIX's dividend yield for the trailing twelve months is around 0.80%, less than FSLTX's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FSLTX Strategic Advisers Alternatives Fund | 5.21% | 5.50% | 7.52% | 3.94% |
XPMIX StepStone Private Markets Fund Class I | 0.80% | 0.85% | 1.31% | 0.33% |
Frequently Asked Questions
XPMIX and FSLTX 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.
XPMIX has higher volatility (1.39%) compared to FSLTX (0.52%). In terms of maximum drawdown, XPMIX dropped -3.71% vs FSLTX's -3.78%.
FSLTX currently has the higher Sharpe Ratio (5.61 vs 2.68), 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.
Find the right allocation for XPMIX and FSLTX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer