COMAX vs. SCPIX

Last updated Aug 1, 2026

COMAX (DWS Digital Horizons Fund Class A) and SCPIX (DWS S&P 500 Index Fund) are both mutual funds - COMAX is a Technology Equities fund actively managed by DWS, while SCPIX is a S&P 500 fund tracking the S&P 500 Index. COMAX is actively managed, while SCPIX is passively managed. Over the past year, COMAX returned 0.68% vs 19.97% for SCPIX. Their correlation of 0.81 means they have usually moved in the same direction. COMAX charges 1.25%/yr vs 0.29%/yr for SCPIX.

Performance

COMAX vs. SCPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Digital Horizons Fund Class A (COMAX) and DWS S&P 500 Index Fund (SCPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COMAX achieves a -1.10% return, which is significantly lower than SCPIX's 8.90% return.

COMAX

• 1D: 2.67%
• 1M: -3.43%
• 6M: 0.92%
• YTD: -1.10%
• 1Y: 0.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.26%

SCPIX

• 1D: 1.66%
• 1M: -0.58%
• 6M: 6.91%
• YTD: 8.90%
• 1Y: 19.97%
• 3Y*: 18.50%
• 5Y*: 12.25%
• 10Y*: 14.92%
• ALL TIME*: 8.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COMAX DWS Digital Horizons Fund Class A	$0.00	$0.00	$0.00
SCPIX DWS S&P 500 Index Fund	$0.00	$0.00	$0.00

COMAX vs. SCPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COMAX DWS Digital Horizons Fund Class A	-1.10%	16.79%	21.78%
SCPIX DWS S&P 500 Index Fund	8.90%	17.21%	16.87%

Correlation

The correlation between COMAX and SCPIX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Apr 24, 2024	0.81

The correlation between COMAX and SCPIX has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

Return for Risk

COMAX vs. SCPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COMAX

COMAX Risk / Return Rank: 4
COMAX Sharpe Ratio Rank: 4
COMAX Sortino Ratio Rank: 4
COMAX Omega Ratio Rank: 4
COMAX Calmar Ratio Rank: 4
COMAX Martin Ratio Rank: 4

SCPIX

SCPIX Risk / Return Rank: 56
SCPIX Sharpe Ratio Rank: 54
SCPIX Sortino Ratio Rank: 52
SCPIX Omega Ratio Rank: 52
SCPIX Calmar Ratio Rank: 55
SCPIX Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COMAX vs. SCPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Digital Horizons Fund Class A (COMAX) and DWS S&P 500 Index Fund (SCPIX). 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.

	COMAX	SCPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	1.38	-1.42
Sortino ratio: Return per unit of downside risk	0.10	1.96	-1.86
Omega ratio: Gain probability vs. loss probability	1.01	1.25	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.03	1.94	-1.97
Martin ratio: Return relative to average drawdown	-0.07	8.33	-8.40

COMAX vs. SCPIX - Sharpe Ratio Comparison

The current COMAX Sharpe Ratio is -0.03, which is lower than the SCPIX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of COMAX and SCPIX, 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

COMAX vs. SCPIX - Drawdown Comparison

The maximum COMAX drawdown since its inception was -26.14%, smaller than the maximum SCPIX drawdown of -55.46%. Use the drawdown chart below to compare losses from any high point for COMAX and SCPIX.

Drawdown Indicators

	COMAX	SCPIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.14%	-55.46%	+29.32%
Max Drawdown (1Y) Largest decline over 1 year	-24.00%	-9.17%	-14.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.85%	—
Current Drawdown Current decline from peak	-9.59%	-2.16%	-7.43%
Average Drawdown Average peak-to-trough decline	-5.64%	-10.58%	+4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.54%	2.13%	+7.41%

Volatility

COMAX vs. SCPIX - Volatility Comparison

DWS Digital Horizons Fund Class A (COMAX) has a higher volatility of 6.15% compared to DWS S&P 500 Index Fund (SCPIX) at 3.43%. This indicates that COMAX's price experiences larger fluctuations and is considered to be riskier than SCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COMAX	SCPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	3.43%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	16.54%	10.01%	+6.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.52%	12.87%	+7.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.68%	16.96%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.68%	18.12%	+3.56%

COMAX vs. SCPIX - Expense Ratio Comparison

COMAX has a 1.25% expense ratio, which is higher than SCPIX's 0.29% expense ratio.

Dividends

COMAX vs. SCPIX - Dividend Comparison

COMAX's dividend yield for the trailing twelve months is around 1.60%, less than SCPIX's 4.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMAX DWS Digital Horizons Fund Class A	1.60%	53.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCPIX DWS S&P 500 Index Fund	4.89%	4.09%	5.65%	7.18%	5.57%	5.28%	6.91%	7.88%	8.14%	6.05%	4.83%	4.04%

Frequently Asked Questions

Can I hold both COMAX and SCPIX in my portfolio?

COMAX and SCPIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COMAX or SCPIX?

COMAX has higher volatility (6.15%) compared to SCPIX (3.43%). In terms of maximum drawdown, COMAX dropped -26.14% vs SCPIX's -55.46%.

Which has better risk-adjusted returns?

SCPIX currently has the higher Sharpe Ratio (1.38 vs -0.03), 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.