FOSCX vs. SMCIX

Last updated Jun 4, 2026

FOSCX (Tributary Small Company Fund) and SMCIX (Shelton Capital Management S&P Smallcap Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FOSCX returned 9.26%/yr vs 11.15%/yr for SMCIX. Their correlation of 0.94 suggests significant overlap in exposure. FOSCX charges 1.18%/yr vs 0.81%/yr for SMCIX.

Performance

FOSCX vs. SMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tributary Small Company Fund (FOSCX) and Shelton Capital Management S&P Smallcap Index Fund (SMCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOSCX achieves a 20.76% return, which is significantly higher than SMCIX's 16.24% return. Over the past 10 years, FOSCX has underperformed SMCIX with an annualized return of 9.26%, while SMCIX has yielded a comparatively higher 11.15% annualized return.

FOSCX

• 1D: 1.66%
• 1M: 2.61%
• YTD: 20.76%
• 6M: 18.39%
• 1Y: 25.17%
• 3Y*: 12.12%
• 5Y*: 7.18%
• 10Y*: 9.26%

SMCIX

• 1D: 0.91%
• 1M: 2.79%
• YTD: 16.24%
• 6M: 15.02%
• 1Y: 31.79%
• 3Y*: 18.11%
• 5Y*: 7.75%
• 10Y*: 11.15%

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

FOSCX vs. SMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOSCX Tributary Small Company Fund	20.76%	-3.67%	9.35%	16.92%	-13.17%	32.03%	1.21%	23.18%	-10.81%	8.44%
SMCIX Shelton Capital Management S&P Smallcap Index Fund	16.24%	6.90%	18.13%	15.48%	-16.41%	26.53%	11.27%	30.68%	-9.07%	3.08%

Correlation

The correlation between FOSCX and SMCIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.94

The correlation between FOSCX and SMCIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FOSCX vs. SMCIX — Risk / Return Rank

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

FOSCX

FOSCX Risk / Return Rank: 38
FOSCX Sharpe Ratio Rank: 30
FOSCX Sortino Ratio Rank: 33
FOSCX Omega Ratio Rank: 28
FOSCX Calmar Ratio Rank: 62
FOSCX Martin Ratio Rank: 37

SMCIX

SMCIX Risk / Return Rank: 55
SMCIX Sharpe Ratio Rank: 44
SMCIX Sortino Ratio Rank: 45
SMCIX Omega Ratio Rank: 39
SMCIX Calmar Ratio Rank: 83
SMCIX Martin Ratio Rank: 67

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.

FOSCX vs. SMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tributary Small Company Fund (FOSCX) and Shelton Capital Management S&P Smallcap Index Fund (SMCIX). 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.

	FOSCX	SMCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.95	-0.36
Sortino ratio: Return per unit of downside risk	2.37	2.81	-0.44
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.06
Calmar ratio: Return relative to maximum drawdown	3.03	3.88	-0.85
Martin ratio: Return relative to average drawdown	8.21	12.92	-4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOSCX vs. SMCIX - Sharpe Ratio Comparison

The current FOSCX Sharpe Ratio is 1.58, which is comparable to the SMCIX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FOSCX and SMCIX, 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

	FOSCX	SMCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.95	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.36	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.47	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.41	+0.08

Drawdowns

FOSCX vs. SMCIX - Drawdown Comparison

The maximum FOSCX drawdown since its inception was -52.57%, smaller than the maximum SMCIX drawdown of -58.13%. Use the drawdown chart below to compare losses from any high point for FOSCX and SMCIX.

Drawdown Indicators

	FOSCX	SMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.57%	-58.13%	+5.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-8.79%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-29.00%	-26.52%	-2.48%
Max Drawdown (5Y) Largest decline over 5 years	-29.00%	-26.72%	-2.28%
Max Drawdown (10Y) Largest decline over 10 years	-40.05%	-42.54%	+2.49%
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-7.07%	-9.53%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	2.63%	+0.74%

Volatility

FOSCX vs. SMCIX - Volatility Comparison

Tributary Small Company Fund (FOSCX) and Shelton Capital Management S&P Smallcap Index Fund (SMCIX) have volatilities of 4.70% and 4.52%, 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

	FOSCX	SMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.52%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	11.76%	11.70%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	17.55%	17.52%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	21.86%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.89%	23.63%	-1.74%

FOSCX vs. SMCIX - Expense Ratio Comparison

FOSCX has a 1.18% expense ratio, which is higher than SMCIX's 0.81% expense ratio.

Dividends

FOSCX vs. SMCIX - Dividend Comparison

FOSCX's dividend yield for the trailing twelve months is around 6.30%, less than SMCIX's 8.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOSCX Tributary Small Company Fund	6.30%	7.61%	6.67%	2.82%	13.61%	15.18%	0.02%	1.28%	5.45%	5.28%	1.51%	0.00%
SMCIX Shelton Capital Management S&P Smallcap Index Fund	8.04%	10.78%	19.88%	3.48%	10.40%	9.40%	4.53%	13.88%	9.39%	1.63%	4.64%	11.58%

Frequently Asked Questions

Can I hold both FOSCX and SMCIX in my portfolio?

With a correlation of 0.95, FOSCX and SMCIX 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, FOSCX or SMCIX?

FOSCX has higher volatility (4.70%) compared to SMCIX (4.52%). In terms of maximum drawdown, FOSCX dropped -52.57% vs SMCIX's -58.13%.

Which has better risk-adjusted returns?

SMCIX currently has the higher Sharpe Ratio (1.95 vs 1.58), 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.