CII vs. NASDX

Last updated Jun 3, 2026

CII (BlackRock Enhanced Large Cap Core Fund) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - CII is a Derivative Income fund actively managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. CII is actively managed, while NASDX is passively managed. Over the past 10 years, CII returned 15.39%/yr vs 22.52%/yr for NASDX. A 0.63 correlation means they provide meaningful diversification when combined. CII charges 0.91%/yr vs 0.63%/yr for NASDX.

Performance

CII vs. NASDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Enhanced Large Cap Core Fund (CII) 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, CII achieves a 12.40% return, which is significantly lower than NASDX's 20.81% return. Over the past 10 years, CII has underperformed NASDX with an annualized return of 15.39%, while NASDX has yielded a comparatively higher 22.52% annualized return.

CII

• 1D: -0.78%
• 1M: 5.40%
• YTD: 12.40%
• 6M: 12.39%
• 1Y: 47.06%
• 3Y*: 24.31%
• 5Y*: 14.98%
• 10Y*: 15.39%

NASDX

• 1D: 0.61%
• 1M: 10.17%
• YTD: 20.81%
• 6M: 19.57%
• 1Y: 42.51%
• 3Y*: 32.44%
• 5Y*: 20.07%
• 10Y*: 22.52%

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

CII vs. NASDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CII BlackRock Enhanced Large Cap Core Fund	12.40%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	30.46%	-8.60%	27.73%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	20.81%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	38.22%	-1.21%	31.27%

Correlation

The correlation between CII and NASDX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since May 27, 2004	0.63

The correlation between CII and NASDX shifts across timeframes, from 0.63 (all time) to 0.73 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CII vs. NASDX — Risk / Return Rank

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

CII

CII Risk / Return Rank: 86
CII Sharpe Ratio Rank: 93
CII Sortino Ratio Rank: 86
CII Omega Ratio Rank: 81
CII Calmar Ratio Rank: 85
CII Martin Ratio Rank: 86

NASDX

NASDX Risk / Return Rank: 76
NASDX Sharpe Ratio Rank: 84
NASDX Sortino Ratio Rank: 72
NASDX Omega Ratio Rank: 68
NASDX Calmar Ratio Rank: 79
NASDX Martin Ratio Rank: 75

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.

CII vs. NASDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Enhanced Large Cap Core Fund (CII) 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.

	CII	NASDX	Difference
Sharpe ratio Return per unit of total volatility	3.15	2.72	+0.43
Sortino ratio Return per unit of downside risk	4.12	3.53	+0.59
Omega ratio Gain probability vs. loss probability	1.54	1.46	+0.08
Calmar ratio Return relative to maximum drawdown	4.03	3.64	+0.39
Martin ratio Return relative to average drawdown	16.55	14.18	+2.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CII vs. NASDX - Sharpe Ratio Comparison

The current CII Sharpe Ratio is 3.15, which is comparable to the NASDX Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of CII 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.

Sharpe Ratios by Period

	CII	NASDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	2.72	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.87	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	1.00	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.33	+0.21

Drawdowns

CII vs. NASDX - Drawdown Comparison

The maximum CII drawdown since its inception was -56.43%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for CII and NASDX.

Drawdown Indicators

	CII	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-56.43%	-83.16%	+26.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-11.90%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-21.05%	-22.71%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-22.32%	-35.33%	+13.01%
Max Drawdown (10Y) Largest decline over 10 years	-40.56%	-35.33%	-5.23%
Current Drawdown Current decline from peak	-2.26%	0.00%	-2.26%
Average Drawdown Average peak-to-trough decline	-6.18%	-34.38%	+28.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	3.06%	-0.22%

Volatility

CII vs. NASDX - Volatility Comparison

BlackRock Enhanced Large Cap Core Fund (CII) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) have volatilities of 4.44% and 4.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CII	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.44%	4.53%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	12.21%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	16.13%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	23.06%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	22.68%	-4.16%

CII vs. NASDX - Expense Ratio Comparison

CII has a 0.91% expense ratio, which is higher than NASDX's 0.63% expense ratio.

Dividends

CII vs. NASDX - Dividend Comparison

CII's dividend yield for the trailing twelve months is around 15.27%, more than NASDX's 3.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.27%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	3.00%	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 CII and NASDX in my portfolio?

CII and NASDX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CII or NASDX?

NASDX has higher volatility (4.53%) compared to CII (4.44%). In terms of maximum drawdown, CII dropped -56.43% vs NASDX's -83.16%.

Which has better risk-adjusted returns?

CII currently has the higher Sharpe Ratio (3.15 vs 2.72), 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.