NASDX vs. VCNIX

Last updated Jun 4, 2026

NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) and VCNIX (VALIC Company I Nasdaq-100 Index Fund) are both Large Cap Growth Equities funds. Over the past 10 years, NASDX returned 22.58%/yr vs 18.59%/yr for VCNIX. With a 0.99 correlation, they move nearly in lockstep. NASDX charges 0.63%/yr vs 0.45%/yr for VCNIX.

Performance

NASDX vs. VCNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) and VALIC Company I Nasdaq-100 Index Fund (VCNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NASDX having a 21.38% return and VCNIX slightly higher at 21.53%. Over the past 10 years, NASDX has outperformed VCNIX with an annualized return of 22.58%, while VCNIX has yielded a comparatively lower 18.59% annualized return.

NASDX

• 1D: 0.47%
• 1M: 10.94%
• YTD: 21.38%
• 6M: 19.90%
• 1Y: 42.08%
• 3Y*: 32.65%
• 5Y*: 20.44%
• 10Y*: 22.58%

VCNIX

• 1D: 0.50%
• 1M: 10.94%
• YTD: 21.53%
• 6M: 19.86%
• 1Y: 41.89%
• 3Y*: 19.90%
• 5Y*: 13.30%
• 10Y*: 18.59%

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

NASDX vs. VCNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	21.38%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	38.22%	-1.21%	31.27%
VCNIX VALIC Company I Nasdaq-100 Index Fund	21.53%	-2.43%	25.36%	54.21%	-32.55%	26.89%	48.24%	38.63%	-4.76%	32.35%

Correlation

The correlation between NASDX and VCNIX 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	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 4, 2000	0.99

The correlation between NASDX and VCNIX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

NASDX vs. VCNIX — Risk / Return Rank

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

NASDX

NASDX Risk / Return Rank: 75
NASDX Sharpe Ratio Rank: 84
NASDX Sortino Ratio Rank: 71
NASDX Omega Ratio Rank: 67
NASDX Calmar Ratio Rank: 80
NASDX Martin Ratio Rank: 75

VCNIX

VCNIX Risk / Return Rank: 77
VCNIX Sharpe Ratio Rank: 86
VCNIX Sortino Ratio Rank: 77
VCNIX Omega Ratio Rank: 70
VCNIX Calmar Ratio Rank: 79
VCNIX Martin Ratio Rank: 73

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.

NASDX vs. VCNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) and VALIC Company I Nasdaq-100 Index Fund (VCNIX). 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.

	NASDX	VCNIX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.78	-0.08
Sortino ratio: Return per unit of downside risk	3.51	3.67	-0.16
Omega ratio: Gain probability vs. loss probability	1.46	1.47	-0.01
Calmar ratio: Return relative to maximum drawdown	3.65	3.61	+0.03
Martin ratio: Return relative to average drawdown	14.16	13.91	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NASDX vs. VCNIX - Sharpe Ratio Comparison

The current NASDX Sharpe Ratio is 2.70, which is comparable to the VCNIX Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of NASDX and VCNIX, 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

	NASDX	VCNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.78	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.54	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.79	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.27	+0.06

Drawdowns

NASDX vs. VCNIX - Drawdown Comparison

The maximum NASDX drawdown since its inception was -83.16%, which is greater than VCNIX's maximum drawdown of -76.68%. Use the drawdown chart below to compare losses from any high point for NASDX and VCNIX.

Drawdown Indicators

	NASDX	VCNIX	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-76.68%	-6.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-12.01%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-22.71%	-37.53%	+14.82%
Max Drawdown (5Y) Largest decline over 5 years	-35.33%	-37.53%	+2.20%
Max Drawdown (10Y) Largest decline over 10 years	-35.33%	-37.53%	+2.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-34.37%	-28.74%	-5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.11%	-0.05%

Volatility

NASDX vs. VCNIX - Volatility Comparison

Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) and VALIC Company I Nasdaq-100 Index Fund (VCNIX) have volatilities of 4.51% and 4.51%, 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

	NASDX	VCNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.51%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	12.17%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	15.64%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.06%	24.88%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	23.74%	-1.06%

NASDX vs. VCNIX - Expense Ratio Comparison

NASDX has a 0.63% expense ratio, which is higher than VCNIX's 0.45% expense ratio.

Dividends

NASDX vs. VCNIX - Dividend Comparison

NASDX's dividend yield for the trailing twelve months is around 2.98%, less than VCNIX's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	2.98%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%
VCNIX VALIC Company I Nasdaq-100 Index Fund	8.34%	0.00%	3.76%	10.90%	13.50%	7.28%	2.40%	1.57%	0.55%	4.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NASDX and VCNIX in my portfolio?

With a correlation of 0.98, NASDX and VCNIX 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, NASDX or VCNIX?

VCNIX has higher volatility (4.51%) compared to NASDX (4.51%). In terms of maximum drawdown, NASDX dropped -83.16% vs VCNIX's -76.68%.

Which has better risk-adjusted returns?

VCNIX currently has the higher Sharpe Ratio (2.78 vs 2.70), 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.