SMCIX vs. AUERX

Last updated Jun 5, 2026

SMCIX (Shelton Capital Management S&P Smallcap Index Fund) and AUERX (Auer Growth Fund) are both Small Cap Blend Equities funds. Over the past 10 years, SMCIX returned 11.07%/yr vs 16.08%/yr for AUERX. Their correlation of 0.84 suggests significant overlap in exposure. SMCIX charges 0.81%/yr vs 2.37%/yr for AUERX.

Performance

SMCIX vs. AUERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management S&P Smallcap Index Fund (SMCIX) and Auer Growth Fund (AUERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCIX achieves a 15.33% return, which is significantly lower than AUERX's 16.34% return. Over the past 10 years, SMCIX has underperformed AUERX with an annualized return of 11.07%, while AUERX has yielded a comparatively higher 16.08% annualized return.

SMCIX

• 1D: -0.78%
• 1M: 0.50%
• YTD: 15.33%
• 6M: 14.33%
• 1Y: 31.15%
• 3Y*: 17.80%
• 5Y*: 7.54%
• 10Y*: 11.07%

AUERX

• 1D: -0.93%
• 1M: 3.65%
• YTD: 16.34%
• 6M: 15.84%
• 1Y: 48.90%
• 3Y*: 27.71%
• 5Y*: 19.52%
• 10Y*: 16.08%

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

SMCIX vs. AUERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMCIX Shelton Capital Management S&P Smallcap Index Fund	15.33%	6.90%	18.13%	15.48%	-16.41%	26.53%	11.27%	30.68%	-9.07%	3.08%
AUERX Auer Growth Fund	16.34%	30.10%	11.12%	21.42%	9.95%	45.11%	-1.85%	27.96%	-25.63%	28.75%

Correlation

The correlation between SMCIX and AUERX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.84

The correlation between SMCIX and AUERX has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

Return for Risk

SMCIX vs. AUERX — Risk / Return Rank

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

SMCIX

SMCIX Risk / Return Rank: 51
SMCIX Sharpe Ratio Rank: 40
SMCIX Sortino Ratio Rank: 41
SMCIX Omega Ratio Rank: 36
SMCIX Calmar Ratio Rank: 80
SMCIX Martin Ratio Rank: 61

AUERX

AUERX Risk / Return Rank: 87
AUERX Sharpe Ratio Rank: 91
AUERX Sortino Ratio Rank: 82
AUERX Omega Ratio Rank: 79
AUERX Calmar Ratio Rank: 91
AUERX Martin Ratio Rank: 94

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.

SMCIX vs. AUERX - 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 Auer Growth Fund (AUERX). 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.

	SMCIX	AUERX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	3.03	-1.26
Sortino ratio: Return per unit of downside risk	2.59	3.93	-1.34
Omega ratio: Gain probability vs. loss probability	1.31	1.52	-0.22
Calmar ratio: Return relative to maximum drawdown	3.52	4.82	-1.30
Martin ratio: Return relative to average drawdown	11.72	20.72	-9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMCIX vs. AUERX - Sharpe Ratio Comparison

The current SMCIX Sharpe Ratio is 1.77, which is lower than the AUERX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of SMCIX and AUERX, 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

	SMCIX	AUERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	3.03	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.79	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.66	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.21	+0.20

Drawdowns

SMCIX vs. AUERX - Drawdown Comparison

The maximum SMCIX drawdown since its inception was -58.13%, smaller than the maximum AUERX drawdown of -67.23%. Use the drawdown chart below to compare losses from any high point for SMCIX and AUERX.

Drawdown Indicators

	SMCIX	AUERX	Difference
Max Drawdown Largest peak-to-trough decline	-58.13%	-67.23%	+9.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.79%	-10.06%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-26.52%	-34.80%	+8.28%
Max Drawdown (5Y) Largest decline over 5 years	-26.72%	-34.80%	+8.08%
Max Drawdown (10Y) Largest decline over 10 years	-42.54%	-51.89%	+9.35%
Current Drawdown Current decline from peak	-0.82%	-0.93%	+0.11%
Average Drawdown Average peak-to-trough decline	-9.53%	-24.88%	+15.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.33%	+0.30%

Volatility

SMCIX vs. AUERX - Volatility Comparison

The current volatility for Shelton Capital Management S&P Smallcap Index Fund (SMCIX) is 4.48%, while Auer Growth Fund (AUERX) has a volatility of 5.25%. This indicates that SMCIX experiences smaller price fluctuations and is considered to be less risky than AUERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCIX	AUERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	5.25%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	11.72%	11.72%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	16.01%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	24.84%	-2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	24.38%	-0.76%

SMCIX vs. AUERX - Expense Ratio Comparison

SMCIX has a 0.81% expense ratio, which is lower than AUERX's 2.37% expense ratio.

Dividends

SMCIX vs. AUERX - Dividend Comparison

SMCIX's dividend yield for the trailing twelve months is around 8.10%, less than AUERX's 9.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUERX Auer Growth Fund	9.79%	11.39%	24.55%	4.54%	5.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMCIX Shelton Capital Management S&P Smallcap Index Fund	8.10%	10.78%	19.88%	3.48%	10.40%	9.40%	4.53%	13.88%	9.39%	1.63%	4.64%	11.58%

Frequently Asked Questions

Can I hold both SMCIX and AUERX in my portfolio?

SMCIX and AUERX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCIX or AUERX?

AUERX has higher volatility (5.25%) compared to SMCIX (4.48%). In terms of maximum drawdown, SMCIX dropped -58.13% vs AUERX's -67.23%.

Which has better risk-adjusted returns?

AUERX currently has the higher Sharpe Ratio (3.03 vs 1.77), 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.