SMCIX vs. ^GSPC
SMCIX (Shelton Capital Management S&P Smallcap Index Fund) is Small Cap Blend Equities fund managed by BlackRock, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SMCIX returned 11.78%/yr vs 13.71%/yr for ^GSPC. Their correlation of 0.83 suggests significant overlap in exposure.
Performance
SMCIX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, SMCIX achieves a 19.98% return, which is significantly higher than ^GSPC's 7.60% return. Over the past 10 years, SMCIX has underperformed ^GSPC with an annualized return of 11.78%, while ^GSPC has yielded a comparatively higher 13.71% annualized return.
SMCIX
- 1D
- 0.24%
- 1M
- 4.90%
- YTD
- 19.98%
- 6M
- 17.60%
- 1Y
- 34.69%
- 3Y*
- 19.78%
- 5Y*
- 8.62%
- 10Y*
- 11.78%
^GSPC
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
SMCIX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMCIX Shelton Capital Management S&P Smallcap Index Fund | 19.98% | 6.90% | 18.13% | 15.48% | -16.41% | 26.53% | 11.27% | 30.68% | -9.07% | 3.08% |
^GSPC S&P 500 Index | 7.60% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between SMCIX and ^GSPC is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997 | 0.83 |
The correlation between SMCIX and ^GSPC has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
SMCIX vs. ^GSPC — Risk / Return Rank
SMCIX
^GSPC
SMCIX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management S&P Smallcap Index Fund (SMCIX) and S&P 500 Index (^GSPC). 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.
| SMCIX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 2.46 | +1.70 |
| Martin ratioReturn relative to average drawdown | 13.98 | 10.92 | +3.06 |
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Drawdowns
SMCIX vs. ^GSPC - Drawdown Comparison
The maximum SMCIX drawdown since its inception was -58.13%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SMCIX and ^GSPC.
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Drawdown Indicators
| SMCIX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.13% | -56.78% | -1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -9.10% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -26.52% | -18.90% | -7.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.72% | -25.43% | -1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -42.54% | -33.92% | -8.62% |
Current DrawdownCurrent decline from peak | 0.00% | -3.21% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -10.71% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.04% | +0.57% |
Volatility
SMCIX vs. ^GSPC - Volatility Comparison
Shelton Capital Management S&P Smallcap Index Fund (SMCIX) and S&P 500 Index (^GSPC) have volatilities of 4.87% and 4.89%, 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.
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Volatility by Period
| SMCIX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.87% | 4.89% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 9.93% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.76% | 12.57% | +5.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.85% | 17.00% | +4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.65% | 18.08% | +5.57% |
Frequently Asked Questions
SMCIX and ^GSPC have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (4.89%) compared to SMCIX (4.87%). In terms of maximum drawdown, SMCIX dropped -58.13% vs ^GSPC's -56.78%.
SMCIX currently has the higher Sharpe Ratio (2.06 vs 1.78), 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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