BIRIX vs. NASDX

Last updated Jun 25, 2026

BIRIX (BlackRock Sustainable Advantage Large Cap Core Fund) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - BIRIX is a Large Cap Blend Equities fund managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 10 years, BIRIX returned 15.64%/yr vs 22.69%/yr for NASDX. Their correlation of 0.90 suggests significant overlap in exposure. BIRIX charges 0.48%/yr vs 0.63%/yr for NASDX.

Performance

BIRIX vs. NASDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Sustainable Advantage Large Cap Core Fund (BIRIX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIRIX achieves a 10.12% return, which is significantly lower than NASDX's 16.40% return. Over the past 10 years, BIRIX has underperformed NASDX with an annualized return of 15.64%, while NASDX has yielded a comparatively higher 22.69% annualized return.

BIRIX

• 1D: -1.44%
• 1M: -0.50%
• YTD: 10.12%
• 6M: 8.74%
• 1Y: 25.90%
• 3Y*: 20.86%
• 5Y*: 12.28%
• 10Y*: 15.64%

NASDX

• 1D: -3.17%
• 1M: -0.26%
• YTD: 16.40%
• 6M: 14.63%
• 1Y: 32.94%
• 3Y*: 29.77%
• 5Y*: 18.00%
• 10Y*: 22.69%

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

BIRIX vs. NASDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIRIX BlackRock Sustainable Advantage Large Cap Core Fund	10.12%	18.97%	21.83%	25.55%	-19.73%	28.16%	22.41%	31.19%	-5.94%	20.95%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	16.40%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	38.22%	-1.21%	31.27%

Correlation

The correlation between BIRIX and NASDX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.90

The correlation between BIRIX and NASDX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

BIRIX vs. NASDX — Risk / Return Rank

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

BIRIX

BIRIX Risk / Return Rank: 71
BIRIX Sharpe Ratio Rank: 67
BIRIX Sortino Ratio Rank: 62
BIRIX Omega Ratio Rank: 61
BIRIX Calmar Ratio Rank: 78
BIRIX Martin Ratio Rank: 87

NASDX

NASDX Risk / Return Rank: 53
NASDX Sharpe Ratio Rank: 52
NASDX Sortino Ratio Rank: 44
NASDX Omega Ratio Rank: 47
NASDX Calmar Ratio Rank: 65
NASDX Martin Ratio Rank: 59

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.

BIRIX vs. NASDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Sustainable Advantage Large Cap Core Fund (BIRIX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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.

	BIRIX	NASDX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.95	+0.17
Sortino ratio: Return per unit of downside risk	2.89	2.57	+0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	3.25	2.95	+0.30
Martin ratio: Return relative to average drawdown	14.94	11.06	+3.88

BIRIX vs. NASDX - Sharpe Ratio Comparison

The current BIRIX Sharpe Ratio is 2.13, which is comparable to the NASDX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of BIRIX and NASDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIRIX vs. NASDX - Drawdown Comparison

The maximum BIRIX drawdown since its inception was -34.67%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for BIRIX and NASDX.

Drawdown Indicators

	BIRIX	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-34.67%	-83.16%	+48.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.46%	-11.90%	+3.44%
Max Drawdown (3Y) Largest decline over 3 years	-20.97%	-22.71%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.88%	-35.33%	+9.45%
Max Drawdown (10Y) Largest decline over 10 years	-34.67%	-35.33%	+0.66%
Current Drawdown Current decline from peak	-2.80%	-4.10%	+1.30%
Average Drawdown Average peak-to-trough decline	-4.93%	-34.30%	+29.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	3.17%	-1.33%

Volatility

BIRIX vs. NASDX - Volatility Comparison

The current volatility for BlackRock Sustainable Advantage Large Cap Core Fund (BIRIX) is 5.29%, while Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) has a volatility of 9.02%. This indicates that BIRIX experiences smaller price fluctuations and is considered to be less risky than NASDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIRIX	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	9.02%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	14.53%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.98%	18.01%	-5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.68%	23.34%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	22.79%	-3.71%

BIRIX vs. NASDX - Expense Ratio Comparison

BIRIX has a 0.48% expense ratio, which is lower than NASDX's 0.63% expense ratio.

Dividends

BIRIX vs. NASDX - Dividend Comparison

BIRIX's dividend yield for the trailing twelve months is around 5.91%, more than NASDX's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIRIX BlackRock Sustainable Advantage Large Cap Core Fund	5.91%	6.51%	15.58%	1.01%	1.22%	5.79%	3.69%	2.95%	8.26%	4.89%	2.78%	0.00%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	3.11%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%

Frequently Asked Questions

Can I hold both BIRIX and NASDX in my portfolio?

With a correlation of 0.94, BIRIX and NASDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BIRIX or NASDX?

NASDX has higher volatility (9.02%) compared to BIRIX (5.29%). In terms of maximum drawdown, BIRIX dropped -34.67% vs NASDX's -83.16%.

Which has better risk-adjusted returns?

BIRIX currently has the higher Sharpe Ratio (2.13 vs 1.95), 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.