SMCIX vs. CSMDX

Last updated Jun 24, 2026

SMCIX (Shelton Capital Management S&P Smallcap Index Fund) and CSMDX (Copeland SMID Cap Dividend Growth Fund) are both Small Cap Blend Equities funds. Over the past 5 years, SMCIX returned 8.62%/yr vs 5.22%/yr for CSMDX. Their correlation of 0.92 suggests significant overlap in exposure. SMCIX charges 0.81%/yr vs 0.95%/yr for CSMDX.

Performance

SMCIX vs. CSMDX - 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 Copeland SMID Cap Dividend Growth Fund (CSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCIX achieves a 19.98% return, which is significantly higher than CSMDX's 12.52% 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%

CSMDX

• 1D: 0.00%
• 1M: 1.48%
• YTD: 12.52%
• 6M: 10.49%
• 1Y: 16.11%
• 3Y*: 8.82%
• 5Y*: 5.22%
• 10Y*: —

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

SMCIX vs. CSMDX - 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%	1.12%
CSMDX Copeland SMID Cap Dividend Growth Fund	12.52%	2.72%	2.24%	18.89%	-14.89%	22.60%	8.29%	29.90%	-5.20%	10.44%

Correlation

The correlation between SMCIX and CSMDX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 27, 2017	0.92

The correlation between SMCIX and CSMDX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

SMCIX vs. CSMDX — Risk / Return Rank

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

SMCIX

SMCIX Risk / Return Rank: 67
SMCIX Sharpe Ratio Rank: 58
SMCIX Sortino Ratio Rank: 60
SMCIX Omega Ratio Rank: 48
SMCIX Calmar Ratio Rank: 88
SMCIX Martin Ratio Rank: 81

CSMDX

CSMDX Risk / Return Rank: 24
CSMDX Sharpe Ratio Rank: 20
CSMDX Sortino Ratio Rank: 23
CSMDX Omega Ratio Rank: 19
CSMDX Calmar Ratio Rank: 29
CSMDX Martin Ratio Rank: 26

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. CSMDX - 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 Copeland SMID Cap Dividend Growth Fund (CSMDX). 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	CSMDX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.19	+0.87
Sortino ratio: Return per unit of downside risk	2.97	1.86	+1.12
Omega ratio: Gain probability vs. loss probability	1.35	1.21	+0.14
Calmar ratio: Return relative to maximum drawdown	4.16	1.90	+2.26
Martin ratio: Return relative to average drawdown	13.98	5.82	+8.16

SMCIX vs. CSMDX - Sharpe Ratio Comparison

The current SMCIX Sharpe Ratio is 2.06, which is higher than the CSMDX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of SMCIX and CSMDX, 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

SMCIX vs. CSMDX - Drawdown Comparison

The maximum SMCIX drawdown since its inception was -58.13%, which is greater than CSMDX's maximum drawdown of -37.28%. Use the drawdown chart below to compare losses from any high point for SMCIX and CSMDX.

Drawdown Indicators

	SMCIX	CSMDX	Difference
Max Drawdown Largest peak-to-trough decline	-58.13%	-37.28%	-20.85%
Max Drawdown (1Y) Largest decline over 1 year	-8.79%	-9.20%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-26.52%	-24.60%	-1.92%
Max Drawdown (5Y) Largest decline over 5 years	-26.72%	-24.60%	-2.12%
Max Drawdown (10Y) Largest decline over 10 years	-42.54%	—	—
Current Drawdown Current decline from peak	0.00%	-0.23%	+0.23%
Average Drawdown Average peak-to-trough decline	-9.52%	-5.74%	-3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	3.00%	-0.39%

Volatility

SMCIX vs. CSMDX - Volatility Comparison

Shelton Capital Management S&P Smallcap Index Fund (SMCIX) has a higher volatility of 4.87% compared to Copeland SMID Cap Dividend Growth Fund (CSMDX) at 4.09%. This indicates that SMCIX's price experiences larger fluctuations and is considered to be riskier than CSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCIX	CSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.09%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	10.59%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	17.76%	14.69%	+3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.85%	18.18%	+3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	19.15%	+4.50%

SMCIX vs. CSMDX - Expense Ratio Comparison

SMCIX has a 0.81% expense ratio, which is lower than CSMDX's 0.95% expense ratio.

Dividends

SMCIX vs. CSMDX - Dividend Comparison

SMCIX's dividend yield for the trailing twelve months is around 7.79%, more than CSMDX's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSMDX Copeland SMID Cap Dividend Growth Fund	2.79%	3.14%	1.33%	0.81%	4.07%	6.67%	0.38%	2.61%	4.40%	0.13%	0.00%	0.00%
SMCIX Shelton Capital Management S&P Smallcap Index Fund	7.79%	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 CSMDX in my portfolio?

With a correlation of 0.92, SMCIX and CSMDX 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, SMCIX or CSMDX?

SMCIX has higher volatility (4.87%) compared to CSMDX (4.09%). In terms of maximum drawdown, SMCIX dropped -58.13% vs CSMDX's -37.28%.

Which has better risk-adjusted returns?

SMCIX currently has the higher Sharpe Ratio (2.06 vs 1.19), 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.