SPFIX vs. ITOT
SPFIX (Shelton Capital Management S&P 500 Index Fund) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both funds - SPFIX is a S&P 500 fund tracking the S&P 500 Index, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 10 years, SPFIX returned 17.83%/yr vs 15.11%/yr for ITOT. With a 0.98 correlation, they move nearly in lockstep. SPFIX charges 0.43%/yr vs 0.03%/yr for ITOT.
Performance
SPFIX vs. ITOT - Performance Comparison
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Returns By Period
In the year-to-date period, SPFIX achieves a 9.49% return, which is significantly higher than ITOT's 8.94% return. Over the past 10 years, SPFIX has outperformed ITOT with an annualized return of 17.83%, while ITOT has yielded a comparatively lower 15.11% 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%
ITOT
- 1D
- -1.30%
- 1M
- -0.81%
- YTD
- 8.94%
- 6M
- 7.85%
- 1Y
- 24.26%
- 3Y*
- 20.67%
- 5Y*
- 11.93%
- 10Y*
- 15.11%
SPFIX vs. ITOT - 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% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 8.94% | 17.00% | 23.80% | 26.12% | -19.47% | 25.68% | 20.71% | 30.67% | -5.33% | 21.37% |
Correlation
The correlation between SPFIX and ITOT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2004 | 0.98 |
The correlation between SPFIX and ITOT has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SPFIX vs. ITOT — Risk / Return Rank
SPFIX
ITOT
SPFIX vs. ITOT - 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 iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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 | ITOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 2.74 | +0.22 |
| Martin ratioReturn relative to average drawdown | 13.32 | 12.14 | +1.18 |
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Drawdowns
SPFIX vs. ITOT - Drawdown Comparison
The maximum SPFIX drawdown since its inception was -54.81%, roughly equal to the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for SPFIX and ITOT.
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Drawdown Indicators
| SPFIX | ITOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.81% | -55.20% | +0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -8.90% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.94% | -19.44% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -24.69% | -25.36% | +0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -33.83% | -35.00% | +1.17% |
Current DrawdownCurrent decline from peak | -1.73% | -2.79% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -6.96% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.00% | -0.03% |
Volatility
SPFIX vs. ITOT - Volatility Comparison
The current volatility for Shelton Capital Management S&P 500 Index Fund (SPFIX) is 4.66%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 4.96%. This indicates that SPFIX experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFIX | ITOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.66% | 4.96% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 10.06% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.45% | 12.85% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.31% | 17.46% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 18.28% | +0.64% |
SPFIX vs. ITOT - Expense Ratio Comparison
SPFIX has a 0.43% expense ratio, which is higher than ITOT's 0.03% expense ratio.
Dividends
SPFIX vs. ITOT - Dividend Comparison
SPFIX's dividend yield for the trailing twelve months is around 3.32%, more than ITOT's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITOT iShares Core S&P Total U.S. Stock Market ETF | 1.02% | 1.11% | 1.23% | 1.47% | 1.66% | 1.18% | 1.41% | 1.88% | 2.14% | 1.69% | 1.83% | 2.01% |
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
With a correlation of 0.99, SPFIX and ITOT 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.
ITOT has higher volatility (4.96%) compared to SPFIX (4.66%). In terms of maximum drawdown, SPFIX dropped -54.81% vs ITOT's -55.20%.
SPFIX currently has the higher Sharpe Ratio (2.12 vs 1.90), 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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