SPFIX vs. FFANX

Last updated Jun 24, 2026

SPFIX (Shelton Capital Management S&P 500 Index Fund) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - SPFIX is a S&P 500 fund tracking the S&P 500 Index, while FFANX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, SPFIX returned 17.83%/yr vs 6.99%/yr for FFANX. Their correlation of 0.89 suggests significant overlap in exposure. SPFIX charges 0.43%/yr vs 0.52%/yr for FFANX.

Performance

SPFIX vs. FFANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management S&P 500 Index Fund (SPFIX) and Fidelity Asset Manager 40% Fund (FFANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFIX achieves a 9.49% return, which is significantly higher than FFANX's 7.45% return. Over the past 10 years, SPFIX has outperformed FFANX with an annualized return of 17.83%, while FFANX has yielded a comparatively lower 6.99% annualized return.

SPFIX

• 1D: -0.37%
• 1M: 0.07%
• YTD: 9.49%
• 6M: 8.49%
• 1Y: 25.03%
• 3Y*: 26.40%
• 5Y*: 16.23%
• 10Y*: 17.83%

FFANX

• 1D: -0.13%
• 1M: 1.41%
• YTD: 7.45%
• 6M: 7.31%
• 1Y: 16.42%
• 3Y*: 11.28%
• 5Y*: 5.36%
• 10Y*: 6.99%

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

SPFIX vs. FFANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPFIX Shelton Capital Management S&P 500 Index Fund	9.49%	17.23%	42.83%	25.48%	-18.22%	27.99%	17.41%	41.64%	-4.68%	21.55%
FFANX Fidelity Asset Manager 40% Fund	7.45%	13.16%	7.40%	11.52%	-13.62%	8.03%	13.10%	15.81%	-4.06%	11.25%

Correlation

The correlation between SPFIX and FFANX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007	0.89

The correlation between SPFIX and FFANX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

SPFIX vs. FFANX — Risk / Return Rank

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

SPFIX

SPFIX Risk / Return Rank: 63
SPFIX Sharpe Ratio Rank: 61
SPFIX Sortino Ratio Rank: 56
SPFIX Omega Ratio Rank: 58
SPFIX Calmar Ratio Rank: 65
SPFIX Martin Ratio Rank: 75

FFANX

FFANX Risk / Return Rank: 79
FFANX Sharpe Ratio Rank: 79
FFANX Sortino Ratio Rank: 79
FFANX Omega Ratio Rank: 79
FFANX Calmar Ratio Rank: 76
FFANX Martin Ratio Rank: 81

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.

SPFIX vs. FFANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management S&P 500 Index Fund (SPFIX) and Fidelity Asset Manager 40% Fund (FFANX). 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.

	SPFIX	FFANX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.41	-0.29
Sortino ratio: Return per unit of downside risk	2.87	3.45	-0.58
Omega ratio: Gain probability vs. loss probability	1.38	1.47	-0.09
Calmar ratio: Return relative to maximum drawdown	2.96	3.27	-0.31
Martin ratio: Return relative to average drawdown	13.32	13.95	-0.63

SPFIX vs. FFANX - Sharpe Ratio Comparison

The current SPFIX Sharpe Ratio is 2.12, which is comparable to the FFANX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of SPFIX and FFANX, 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

SPFIX vs. FFANX - Drawdown Comparison

The maximum SPFIX drawdown since its inception was -54.81%, which is greater than FFANX's maximum drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for SPFIX and FFANX.

Drawdown Indicators

	SPFIX	FFANX	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-31.69%	-23.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-5.20%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-7.55%	-11.39%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-18.52%	-6.17%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-18.52%	-15.31%
Current Drawdown Current decline from peak	-1.73%	-0.13%	-1.60%
Average Drawdown Average peak-to-trough decline	-8.94%	-3.79%	-5.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.22%	+0.75%

Volatility

SPFIX vs. FFANX - Volatility Comparison

Shelton Capital Management S&P 500 Index Fund (SPFIX) has a higher volatility of 4.66% compared to Fidelity Asset Manager 40% Fund (FFANX) at 2.94%. This indicates that SPFIX's price experiences larger fluctuations and is considered to be riskier than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFIX	FFANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	2.94%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	9.80%	6.01%	+3.79%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	7.09%	+5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	7.94%	+10.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	7.74%	+11.18%

SPFIX vs. FFANX - Expense Ratio Comparison

SPFIX has a 0.43% expense ratio, which is lower than FFANX's 0.52% expense ratio.

Dividends

SPFIX vs. FFANX - Dividend Comparison

SPFIX's dividend yield for the trailing twelve months is around 3.32%, less than FFANX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFANX Fidelity Asset Manager 40% Fund	3.65%	3.97%	2.81%	2.49%	5.75%	2.35%	2.36%	3.67%	4.56%	2.56%	1.43%	3.18%
SPFIX Shelton Capital Management S&P 500 Index Fund	3.32%	3.45%	27.20%	8.08%	5.07%	5.43%	8.06%	16.60%	2.49%	3.01%	2.92%	4.35%

Frequently Asked Questions

Can I hold both SPFIX and FFANX in my portfolio?

With a correlation of 0.91, SPFIX and FFANX 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, SPFIX or FFANX?

SPFIX has higher volatility (4.66%) compared to FFANX (2.94%). In terms of maximum drawdown, SPFIX dropped -54.81% vs FFANX's -31.69%.

Which has better risk-adjusted returns?

FFANX currently has the higher Sharpe Ratio (2.40 vs 2.12), 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.