CAAPX vs. NASDX
Compare and contrast key facts about Ariel Appreciation Fund (CAAPX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX).
CAAPX is managed by Ariel Investments. It was launched on Dec 1, 1989. NASDX is a passively managed fund by BlackRock that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 18, 2000.
Performance
CAAPX vs. NASDX - Performance Comparison
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CAAPX vs. NASDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | -1.97% | 11.04% | 6.07% | 10.58% | -12.27% | 25.72% | 7.42% | 24.58% | -13.93% | 15.24% |
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | -9.12% | 21.00% | 36.91% | 54.69% | -32.57% | 27.32% | 48.59% | 38.22% | -1.21% | 31.27% |
Returns By Period
In the year-to-date period, CAAPX achieves a -1.97% return, which is significantly higher than NASDX's -9.12% return. Over the past 10 years, CAAPX has underperformed NASDX with an annualized return of 7.58%, while NASDX has yielded a comparatively higher 19.08% annualized return.
CAAPX
- 1D
- -0.60%
- 1M
- -11.01%
- YTD
- -1.97%
- 6M
- 0.95%
- 1Y
- 16.97%
- 3Y*
- 7.87%
- 5Y*
- 4.02%
- 10Y*
- 7.58%
NASDX
- 1D
- -0.79%
- 1M
- -8.02%
- YTD
- -9.12%
- 6M
- -6.79%
- 1Y
- 19.59%
- 3Y*
- 24.51%
- 5Y*
- 14.42%
- 10Y*
- 19.08%
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CAAPX vs. NASDX - Expense Ratio Comparison
CAAPX has a 1.12% expense ratio, which is higher than NASDX's 0.63% expense ratio.
Return for Risk
CAAPX vs. NASDX — Risk / Return Rank
CAAPX
NASDX
CAAPX vs. NASDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ariel Appreciation Fund (CAAPX) 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.
| CAAPX | NASDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.71 | 0.88 | -0.17 |
Sortino ratioReturn per unit of downside risk | 1.14 | 1.40 | -0.26 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.31 | -0.38 |
Martin ratioReturn relative to average drawdown | 3.11 | 5.01 | -1.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CAAPX | NASDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.88 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.63 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.85 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.29 | +0.21 |
Correlation
The correlation between CAAPX and NASDX is 0.70, 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
CAAPX vs. NASDX - Dividend Comparison
CAAPX's dividend yield for the trailing twelve months is around 13.12%, more than NASDX's 3.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAAPX Ariel Appreciation Fund | 13.12% | 12.86% | 6.11% | 6.31% | 10.51% | 14.21% | 9.85% | 7.58% | 7.37% | 12.53% | 7.88% | 12.05% |
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | 3.93% | 3.76% | 16.95% | 7.61% | 3.75% | 2.59% | 1.28% | 7.09% | 2.47% | 1.65% | 0.75% | 0.85% |
Drawdowns
CAAPX vs. NASDX - Drawdown Comparison
The maximum CAAPX drawdown since its inception was -61.92%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for CAAPX and NASDX.
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Drawdown Indicators
| CAAPX | NASDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.92% | -83.16% | +21.24% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -12.70% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -33.40% | -35.33% | +1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -42.58% | -35.33% | -7.25% |
Current DrawdownCurrent decline from peak | -11.66% | -11.90% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -34.59% | +26.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 3.32% | +1.45% |
Volatility
CAAPX vs. NASDX - Volatility Comparison
Ariel Appreciation Fund (CAAPX) has a higher volatility of 5.81% compared to Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) at 5.38%. This indicates that CAAPX's price experiences larger fluctuations and is considered to be riskier than NASDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAAPX | NASDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 5.38% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.62% | 12.45% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.51% | 22.55% | +1.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.18% | 23.03% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.13% | 22.61% | -0.48% |