IRONX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Ironclad Managed Risk Fund (IRONX) and S&P 500 Index (^GSPC).

IRONX is managed by BlackRock. It was launched on Oct 14, 2010.

Performance

IRONX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ironclad Managed Risk Fund (IRONX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

IRONX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRONX Ironclad Managed Risk Fund	-4.38%	10.57%	14.78%	10.61%	0.26%	13.24%	5.91%	458.33%	1.99%	3.33%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, IRONX achieves a -4.38% return, which is significantly higher than ^GSPC's -4.63% return. Over the past 10 years, IRONX has outperformed ^GSPC with an annualized return of 25.71%, while ^GSPC has yielded a comparatively lower 12.16% annualized return.

IRONX

• 1D: 0.08%
• 1M: -4.52%
• YTD: -4.38%
• 6M: -3.46%
• 1Y: 7.13%
• 3Y*: 9.45%
• 5Y*: 8.38%
• 10Y*: 25.71%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

IRONX vs. ^GSPC — Risk / Return Rank

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

IRONX

IRONX Risk / Return Rank: 27
IRONX Sharpe Ratio Rank: 28
IRONX Sortino Ratio Rank: 27
IRONX Omega Ratio Rank: 28
IRONX Calmar Ratio Rank: 24
IRONX Martin Ratio Rank: 29

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

IRONX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ironclad Managed Risk Fund (IRONX) and S&P 500 Index (^GSPC). 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.

	IRONX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.65	0.90	-0.25
Sortino ratio Return per unit of downside risk	0.99	1.39	-0.39
Omega ratio Gain probability vs. loss probability	1.14	1.21	-0.07
Calmar ratio Return relative to maximum drawdown	0.70	1.40	-0.70
Martin ratio Return relative to average drawdown	3.08	6.61	-3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRONX vs. ^GSPC - Sharpe Ratio Comparison

The current IRONX Sharpe Ratio is 0.65, which is comparable to the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of IRONX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IRONX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	0.90	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.61	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.68	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.46	+0.10

Correlation

The correlation between IRONX and ^GSPC is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

IRONX vs. ^GSPC - Drawdown Comparison

The maximum IRONX drawdown since its inception was -13.71%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for IRONX and ^GSPC.

Drawdown Indicators

	IRONX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-56.78%	+43.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-12.14%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	-25.43%	+13.75%
Max Drawdown (10Y) Largest decline over 10 years	-13.71%	-33.92%	+20.21%
Current Drawdown Current decline from peak	-5.92%	-6.45%	+0.53%
Average Drawdown Average peak-to-trough decline	-1.79%	-10.75%	+8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	2.57%	-0.60%

Volatility

IRONX vs. ^GSPC - Volatility Comparison

The current volatility for Ironclad Managed Risk Fund (IRONX) is 2.59%, while S&P 500 Index (^GSPC) has a volatility of 5.34%. This indicates that IRONX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRONX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	5.34%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	6.40%	9.54%	-3.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.62%	18.33%	-6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.40%	16.91%	-7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.74%	18.05%	+22.69%