IRONX vs. WFSPX
IRONX (Ironclad Managed Risk Fund) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - IRONX is a Options Trading fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, IRONX returned 26.84%/yr vs 15.54%/yr for WFSPX. Their correlation of 0.85 suggests significant overlap in exposure. IRONX charges 1.25%/yr vs 0.03%/yr for WFSPX.
Performance
IRONX vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, IRONX achieves a 5.42% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, IRONX has outperformed WFSPX with an annualized return of 26.84%, while WFSPX has yielded a comparatively lower 15.54% annualized return.
IRONX
- 1D
- -0.07%
- 1M
- 2.68%
- YTD
- 5.42%
- 6M
- 4.78%
- 1Y
- 14.96%
- 3Y*
- 12.28%
- 5Y*
- 9.67%
- 10Y*
- 26.84%
WFSPX
- 1D
- 0.13%
- 1M
- 5.80%
- YTD
- 11.69%
- 6M
- 11.72%
- 1Y
- 28.93%
- 3Y*
- 22.71%
- 5Y*
- 14.24%
- 10Y*
- 15.54%
IRONX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRONX Ironclad Managed Risk Fund | 5.42% | 10.57% | 14.78% | 10.61% | 0.26% | 13.24% | 5.91% | 458.33% | 1.99% | 3.33% |
WFSPX iShares S&P 500 Index Fund | 11.69% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between IRONX and WFSPX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2010 | 0.85 |
The correlation between IRONX and WFSPX shifts across timeframes, from 0.85 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IRONX vs. WFSPX — Risk / Return Rank
IRONX
WFSPX
IRONX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ironclad Managed Risk Fund (IRONX) and iShares S&P 500 Index Fund (WFSPX). 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 | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.46 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.35 | -0.78 |
| Martin ratioReturn relative to average drawdown | 9.61 | 15.65 | -6.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IRONX | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 2.52 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.85 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.87 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.13 | +0.44 |
Drawdowns
IRONX vs. WFSPX - Drawdown Comparison
The maximum IRONX drawdown since its inception was -13.71%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for IRONX and WFSPX.
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Drawdown Indicators
| IRONX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -58.21% | +44.50% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | -8.90% | +2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -11.68% | -18.74% | +7.06% |
Max Drawdown (5Y)Largest decline over 5 years | -11.68% | -24.51% | +12.83% |
Max Drawdown (10Y)Largest decline over 10 years | -13.71% | -33.74% | +20.03% |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -1.78% | -12.77% | +10.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.90% | -0.30% |
Volatility
IRONX vs. WFSPX - Volatility Comparison
The current volatility for Ironclad Managed Risk Fund (IRONX) is 1.84%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that IRONX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRONX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 2.82% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 5.96% | 8.97% | -3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.14% | 11.85% | -3.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.45% | 16.88% | -7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.76% | 18.02% | +22.74% |
IRONX vs. WFSPX - Expense Ratio Comparison
IRONX has a 1.25% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
IRONX vs. WFSPX - Dividend Comparison
IRONX's dividend yield for the trailing twelve months is around 0.06%, less than WFSPX's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WFSPX iShares S&P 500 Index Fund | 1.56% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
With a correlation of 0.98, IRONX and WFSPX 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.
WFSPX has higher volatility (2.82%) compared to IRONX (1.84%). In terms of maximum drawdown, IRONX dropped -13.71% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.52 vs 1.89), 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.
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