NASDX vs. VCNIX

Last updated Aug 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 21.08%/yr vs 17.11%/yr for VCNIX. Their 0.99 correlation means they have historically moved very closely together. 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 stocks are quite close, with NASDX having a 12.17% return and VCNIX slightly lower at 12.09%. Over the past 10 years, NASDX has outperformed VCNIX with an annualized return of 21.08%, while VCNIX has yielded a comparatively lower 17.11% annualized return.

NASDX

• 1D: 0.59%
• 1M: -3.62%
• 6M: 10.09%
• YTD: 12.17%
• 1Y: 24.90%
• 3Y*: 25.86%
• 5Y*: 16.19%
• 10Y*: 21.08%
• ALL TIME*: 8.49%

VCNIX

• 1D: 0.62%
• 1M: -3.61%
• 6M: 9.96%
• YTD: 12.09%
• 1Y: 24.48%
• 3Y*: 13.74%
• 5Y*: 9.27%
• 10Y*: 17.11%
• ALL TIME*: 6.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	$0.00	$0.00	$0.00
VCNIX VALIC Company I Nasdaq-100 Index Fund	$0.00	$0.00	$0.00

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	12.17%	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	12.09%	-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 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000	0.99

The correlation between NASDX and VCNIX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

NASDX vs. VCNIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NASDX

NASDX Risk / Return Rank: 37
NASDX Sharpe Ratio Rank: 34
NASDX Sortino Ratio Rank: 32
NASDX Omega Ratio Rank: 32
NASDX Calmar Ratio Rank: 45
NASDX Martin Ratio Rank: 40

VCNIX

VCNIX Risk / Return Rank: 36
VCNIX Sharpe Ratio Rank: 34
VCNIX Sortino Ratio Rank: 32
VCNIX Omega Ratio Rank: 32
VCNIX Calmar Ratio Rank: 43
VCNIX Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	NASDX	VCNIX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.16	0.00
Sortino ratio: Return per unit of downside risk	1.66	1.66	0.00
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.90	1.85	+0.04
Martin ratio: Return relative to average drawdown	6.14	5.94	+0.20

NASDX vs. VCNIX - Sharpe Ratio Comparison

The current NASDX Sharpe Ratio is 1.17, which is comparable to the VCNIX Sharpe Ratio of 1.16. 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.

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	-7.59%	-7.77%	+0.18%
Average Drawdown Average peak-to-trough decline	-34.18%	-28.58%	-5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	3.73%	-0.06%

Volatility

NASDX vs. VCNIX - Volatility Comparison

The current volatility for Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) is 6.80%, while VALIC Company I Nasdaq-100 Index Fund (VCNIX) has a volatility of 7.16%. This indicates that NASDX experiences smaller price fluctuations and is considered to be less risky than VCNIX based on this measure. 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	6.80%	7.16%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	15.94%	16.14%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	19.35%	19.14%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.53%	25.34%	-1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.87%	23.93%	-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 3.21%, less than VCNIX's 9.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	3.21%	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	9.04%	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 0.97, 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 (7.16%) compared to NASDX (6.80%). In terms of maximum drawdown, NASDX dropped -83.16% vs VCNIX's -76.68%.

Which has better risk-adjusted returns?

NASDX currently has the higher Sharpe Ratio (1.17 vs 1.16), 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.