Fund Evaluator:
Sound Mind Investing (SMIFX)
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Best Performing in Aggressive Allocation Over the Last Year
| 38.1% | MH Elite Small Cap Fund of Funds (MHELX) |
| 23.7% | Aristotle Portfolio OptimizationAgrGrI-2 (POEDX) |
| 21.1% | Thrivent Aggressive Allocation S (TAAIX) |
| 18.0% | Sound Mind Investing (SMIFX) |
| 16.5% | MH Elite Fund of Funds (MHEFX) |
Fund Details
Sound Mind Investing Overview
Sound Mind Investing (SMIFX) is an actively managed Allocation Aggressive Allocation fund. SMI Funds launched the fund in 2005.
The investment seeks long-term capital appreciation. The SMI Fund seeks to achieve its objective by investing in a diversified portfolio of other investment companies using a "Stock Upgrading" strategy. This strategy is a systematic investment approach that is based on the belief of SMI Advisory Services, LLC ("Advisor"), the SMI Fund's adviser, that superior returns can be obtained by constantly monitoring the performance of a wide universe of other investment companies, and standing ready to move assets into funds deemed by the Advisor to be most attractive at the time of analysis.
About Sound Mind Investing (SMIFX)
There are 3 members of the management team with an average tenure of 20.59 years: Mark Biller (2005), Eric Collier (2005), Anthony Ayers (2005). Management tenure is more important for actively managed funds than passive index funds.
The fund has 6 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, Russell 1000 Growth TR USD index with a weighting of 20%, Russell 1000 Value TR USD index with a weighting of 20%, Russell 2000 Growth TR USD index with a weighting of 20%, Russell 2000 Value TR USD index with a weighting of 20% and MSCI EAFE NR USD index with a weighting of 20%. Sound Mind Investing has 38 securities in its portfolio. The top 10 holdings constitute 99.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Sound Mind Investing is part of the Allocation global asset class and is within the Allocation fund group. Sound Mind Investing has 18.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 67.3%. There is 18.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Sound Mind Investing has 11.7% of the portfolio in cash.
Assets Under Management
The fund has $97 million in total assets, which is below the $549 million average for the Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SMIFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Sound Mind Investing expense ratio is high compared to funds in the Aggressive Allocation category. Sound Mind Investing has an expense ratio of 1.62%, which is 42% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Sound Mind Investing has a portfolio turnover rate of 118%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Aggressive Allocation category.
Recently, in the month of June 2026, Sound Mind Investing returned -0.4%, which earned it a grade of F, as the Aggressive Allocation category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Sound Mind Investing has a trailing yield of 0.00%, which is below the 0.95% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Sound Mind Investing Grades
Year to date, the fund has returned 15.6%, 6.3 percentage points better than the category, which translates into a grade of A. The fund has returned 18.0% over the past year (grade of D), 11.9% over the past three years (grade of F) and 6.0% per year over the past five years (grade of F) and 9.3% per year over the past 10 years (grade of F).
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SMIFX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SMIFX Return (NAV) | -0.4% | 9.3% | 18.0% | 11.9% | 6.0% | 9.3% |
| SMIFX Grade | F | F | D | F | F | F |
| +/- Category | -1.0% | -3.5% | -0.3% | -4.1% | -2.0% | -1.7% |
| Aggressive Allocation Avg | 0.5% | 12.8% | 18.2% | 16.0% | 8.0% | 11.0% |
| SMIFX Tax Cost Ratio | na | na | 1.4% | 0.7% | 2.8% | 2.5% |
SMIFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMIFX Return (NAV) | 15.6% | 3.2% | 15.9% | 5.2% | -8.9% | 11.3% | 20.8% | 19.3% | -8.7% | 17.5% | 7.6% |
| SMIFX Grade | A | F | C | F | A | F | B | F | C | D | C |
| +/- Category | 6.3% | -12.0% | 0.2% | -15.3% | 10.8% | -7.8% | 3.1% | -6.5% | 0.3% | -2.8% | -0.7% |
| Aggressive Allocation Avg | 9.3% | 15.2% | 15.7% | 20.5% | -19.7% | 19.1% | 17.7% | 25.8% | -9.0% | 20.3% | 8.3% |
| Risk Measures | |
| Standard Deviation: | 12.8% |
| Total Risk Index: | 1.05 - Above Average |
| Category Risk Index: | 0.98 - Average |
| Category Risk Grade: | C (51% Rank) |
| Beta: | 1.18 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $97 Mil |
| Fund Total Assets: | $ 98 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 118% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 20.6 years | |||
| Average Tenure: 20.6 years | |||
| Managers (Year): Biller Mark (2005), Collier Eric (2005), Ayers Anthony (2005) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 38 |
| % in Top 10 Holdings: | 99.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.5% |
Portfolio Allocation |
|
| Domestic Stock: | 67.3% |
| Foreign Stock: | 18.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 2.3% |
| Cash: | 11.7% |
Purchase Information
| Fund Family: | SMI Funds |
| Phone Number: | 877-764-3863 |
| Website: |
| Status: | Open |
| Inception Date: | December 2, 2005 |
| Min. Initial Purchase: | $ 500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.62% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.14% |
| Share Class: | Sound Mind Investing |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
