SHYTX vs. SCPIX
SHYTX (DWS Strategic High Yield Tax) and SCPIX (DWS S&P 500 Index Fund) are both mutual funds - SHYTX is a High Yield Muni fund managed by DWS, while SCPIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, SHYTX returned 2.19%/yr vs 15.49%/yr for SCPIX. At a correlation of -0.04, they often move in opposite directions. SHYTX charges 0.59%/yr vs 0.29%/yr for SCPIX.
Performance
SHYTX vs. SCPIX - Performance Comparison
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Returns By Period
In the year-to-date period, SHYTX achieves a 2.18% return, which is significantly lower than SCPIX's 10.06% return. Over the past 10 years, SHYTX has underperformed SCPIX with an annualized return of 2.19%, while SCPIX has yielded a comparatively higher 15.49% annualized return.
SHYTX
- 1D
- 0.09%
- 1M
- 1.83%
- YTD
- 2.18%
- 6M
- 2.89%
- 1Y
- 7.70%
- 3Y*
- 5.20%
- 5Y*
- 0.19%
- 10Y*
- 2.19%
SCPIX
- 1D
- 1.09%
- 1M
- 0.44%
- YTD
- 10.06%
- 6M
- 9.55%
- 1Y
- 26.84%
- 3Y*
- 20.54%
- 5Y*
- 13.61%
- 10Y*
- 15.49%
SHYTX vs. SCPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYTX DWS Strategic High Yield Tax | 2.18% | 4.05% | 5.47% | 7.64% | -17.22% | 5.44% | 5.04% | 9.64% | -0.46% | 5.99% |
SCPIX DWS S&P 500 Index Fund | 10.06% | 17.21% | 24.65% | 25.97% | -18.46% | 27.85% | 18.21% | 34.99% | -4.58% | 21.43% |
Correlation
The correlation between SHYTX and SCPIX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | -0.04 |
The correlation between SHYTX and SCPIX shifts across timeframes, from -0.04 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHYTX vs. SCPIX — Risk / Return Rank
SHYTX
SCPIX
SHYTX vs. SCPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Strategic High Yield Tax (SHYTX) and DWS S&P 500 Index Fund (SCPIX). 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.
| SHYTX | SCPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.39 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 3.00 | -0.49 |
| Martin ratioReturn relative to average drawdown | 7.84 | 13.44 | -5.60 |
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Drawdowns
SHYTX vs. SCPIX - Drawdown Comparison
The maximum SHYTX drawdown since its inception was -27.17%, smaller than the maximum SCPIX drawdown of -55.46%. Use the drawdown chart below to compare losses from any high point for SHYTX and SCPIX.
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Drawdown Indicators
| SHYTX | SCPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.17% | -55.46% | +28.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -8.94% | +5.84% |
Max Drawdown (3Y)Largest decline over 3 years | -7.70% | -18.99% | +11.29% |
Max Drawdown (5Y)Largest decline over 5 years | -22.59% | -24.66% | +2.07% |
Max Drawdown (10Y)Largest decline over 10 years | -22.59% | -33.85% | +11.26% |
Current DrawdownCurrent decline from peak | -0.41% | -1.38% | +0.97% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -10.61% | +7.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.99% | -1.00% |
Volatility
SHYTX vs. SCPIX - Volatility Comparison
The current volatility for DWS Strategic High Yield Tax (SHYTX) is 0.83%, while DWS S&P 500 Index Fund (SCPIX) has a volatility of 4.78%. This indicates that SHYTX experiences smaller price fluctuations and is considered to be less risky than SCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYTX | SCPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 4.78% | -3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 9.87% | -7.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 12.47% | -9.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 16.95% | -11.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 18.16% | -13.14% |
SHYTX vs. SCPIX - Expense Ratio Comparison
SHYTX has a 0.59% expense ratio, which is higher than SCPIX's 0.29% expense ratio.
Dividends
SHYTX vs. SCPIX - Dividend Comparison
SHYTX's dividend yield for the trailing twelve months is around 4.27%, more than SCPIX's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCPIX DWS S&P 500 Index Fund | 3.95% | 4.09% | 5.65% | 7.18% | 5.57% | 5.28% | 6.91% | 7.88% | 8.14% | 6.05% | 4.83% | 4.04% |
SHYTX DWS Strategic High Yield Tax | 4.27% | 5.59% | 4.01% | 3.14% | 2.90% | 2.88% | 4.44% | 4.87% | 4.35% | 3.49% | 4.29% | 4.79% |
Frequently Asked Questions
SHYTX and SCPIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCPIX has higher volatility (4.78%) compared to SHYTX (0.83%). In terms of maximum drawdown, SHYTX dropped -27.17% vs SCPIX's -55.46%.
SHYTX currently has the higher Sharpe Ratio (2.31 vs 2.15), 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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