IRONX vs. EQTIX

Last updated Jun 24, 2026

IRONX (Ironclad Managed Risk Fund) and EQTIX (Shelton Equity Income Fund) are both mutual funds - IRONX is a Options Trading fund managed by BlackRock, while EQTIX is a Derivative Income fund managed by Shelton Capital Management. Over the past 10 years, IRONX returned 26.74%/yr vs 9.98%/yr for EQTIX. Their correlation of 0.80 suggests significant overlap in exposure. IRONX charges 1.25%/yr vs 0.72%/yr for EQTIX.

Performance

IRONX vs. EQTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ironclad Managed Risk Fund (IRONX) and Shelton Equity Income Fund (EQTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRONX achieves a 4.01% return, which is significantly lower than EQTIX's 8.64% return. Over the past 10 years, IRONX has outperformed EQTIX with an annualized return of 26.74%, while EQTIX has yielded a comparatively lower 9.98% annualized return.

IRONX

• 1D: -0.21%
• 1M: -0.85%
• YTD: 4.01%
• 6M: 3.09%
• 1Y: 12.42%
• 3Y*: 11.46%
• 5Y*: 9.43%
• 10Y*: 26.74%

EQTIX

• 1D: 0.05%
• 1M: 1.55%
• YTD: 8.64%
• 6M: 8.08%
• 1Y: 17.55%
• 3Y*: 14.54%
• 5Y*: 9.21%
• 10Y*: 9.98%

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

IRONX vs. EQTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRONX Ironclad Managed Risk Fund	4.01%	10.57%	14.78%	10.61%	0.26%	13.24%	5.91%	458.33%	1.99%	3.33%
EQTIX Shelton Equity Income Fund	8.64%	8.84%	17.18%	17.17%	-10.28%	23.76%	6.87%	17.66%	-10.00%	13.57%

Correlation

The correlation between IRONX and EQTIX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 14, 2010	0.80

The correlation between IRONX and EQTIX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

Return for Risk

IRONX vs. EQTIX — Risk / Return Rank

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

IRONX

IRONX Risk / Return Rank: 36
IRONX Sharpe Ratio Rank: 36
IRONX Sortino Ratio Rank: 33
IRONX Omega Ratio Rank: 34
IRONX Calmar Ratio Rank: 38
IRONX Martin Ratio Rank: 40

EQTIX

EQTIX Risk / Return Rank: 47
EQTIX Sharpe Ratio Rank: 44
EQTIX Sortino Ratio Rank: 41
EQTIX Omega Ratio Rank: 42
EQTIX Calmar Ratio Rank: 50
EQTIX Martin Ratio Rank: 60

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. EQTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ironclad Managed Risk Fund (IRONX) and Shelton Equity Income Fund (EQTIX). 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.

	IRONX	EQTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.80	-0.19
Sortino ratio: Return per unit of downside risk	2.23	2.48	-0.26
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.22	2.60	-0.38
Martin ratio: Return relative to average drawdown	8.19	11.22	-3.03

IRONX vs. EQTIX - Sharpe Ratio Comparison

The current IRONX Sharpe Ratio is 1.61, which is comparable to the EQTIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IRONX and EQTIX, 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

IRONX vs. EQTIX - Drawdown Comparison

The maximum IRONX drawdown since its inception was -13.71%, smaller than the maximum EQTIX drawdown of -53.77%. Use the drawdown chart below to compare losses from any high point for IRONX and EQTIX.

Drawdown Indicators

	IRONX	EQTIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-53.77%	+40.06%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-7.10%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-11.68%	-17.03%	+5.35%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	-19.03%	+7.35%
Max Drawdown (10Y) Largest decline over 10 years	-13.71%	-29.85%	+16.14%
Current Drawdown Current decline from peak	-1.41%	-0.92%	-0.49%
Average Drawdown Average peak-to-trough decline	-1.78%	-7.16%	+5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.64%	-0.02%

Volatility

IRONX vs. EQTIX - Volatility Comparison

The current volatility for Ironclad Managed Risk Fund (IRONX) is 2.00%, while Shelton Equity Income Fund (EQTIX) has a volatility of 4.19%. This indicates that IRONX experiences smaller price fluctuations and is considered to be less risky than EQTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRONX	EQTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	4.19%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	6.00%	8.37%	-2.37%
Volatility (1Y) Calculated over the trailing 1-year period	8.28%	10.26%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.47%	13.19%	-3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.77%	14.34%	+26.43%

IRONX vs. EQTIX - Expense Ratio Comparison

IRONX has a 1.25% expense ratio, which is higher than EQTIX's 0.72% expense ratio.

Dividends

IRONX vs. EQTIX - Dividend Comparison

IRONX's dividend yield for the trailing twelve months is around 0.06%, less than EQTIX's 8.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQTIX Shelton Equity Income Fund	8.45%	7.62%	9.51%	9.25%	9.83%	11.98%	24.62%	4.89%	23.96%	14.65%	16.02%	3.33%
IRONX Ironclad Managed Risk Fund	0.06%	0.06%	0.19%	5.17%	2.97%	13.84%	4.16%	121.75%	8.85%	9.93%	1.42%	0.38%

Frequently Asked Questions

Can I hold both IRONX and EQTIX in my portfolio?

IRONX and EQTIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRONX or EQTIX?

EQTIX has higher volatility (4.19%) compared to IRONX (2.00%). In terms of maximum drawdown, IRONX dropped -13.71% vs EQTIX's -53.77%.

Which has better risk-adjusted returns?

EQTIX currently has the higher Sharpe Ratio (1.80 vs 1.61), 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.