SPFIX vs. MADVX

Last updated Aug 4, 2026

SPFIX (Shelton Capital Management S&P 500 Index Fund) and MADVX (BlackRock Equity Dividend Fund) are both mutual funds - SPFIX is a S&P 500 fund tracking the S&P 500 Index, while MADVX is a Large Cap Value Equities fund managed by BlackRock. Over the past 10 years, SPFIX returned 17.18%/yr vs 11.95%/yr for MADVX. Their correlation of 0.86 means they have usually moved in the same direction. SPFIX charges 0.43%/yr vs 0.68%/yr for MADVX.

Performance

SPFIX vs. MADVX - 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 BlackRock Equity Dividend Fund (MADVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFIX achieves a 9.88% return, which is significantly lower than MADVX's 16.37% return. Over the past 10 years, SPFIX has outperformed MADVX with an annualized return of 17.18%, while MADVX has yielded a comparatively lower 11.95% annualized return.

SPFIX

• 1D: 0.70%
• 1M: 0.13%
• 6M: 7.78%
• YTD: 9.88%
• 1Y: 21.13%
• 3Y*: 24.48%
• 5Y*: 15.48%
• 10Y*: 17.18%
• ALL TIME*: 10.89%

MADVX

• 1D: 0.63%
• 1M: 1.65%
• 6M: 11.87%
• YTD: 16.37%
• 1Y: 29.35%
• 3Y*: 16.18%
• 5Y*: 11.19%
• 10Y*: 11.95%
• ALL TIME*: 10.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MADVX BlackRock Equity Dividend Fund	$0.00	$0.00	$0.00
SPFIX Shelton Capital Management S&P 500 Index Fund	$0.00	$0.00	$0.00

SPFIX vs. MADVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPFIX Shelton Capital Management S&P 500 Index Fund	9.88%	17.23%	42.83%	25.48%	-18.22%	27.99%	17.41%	41.64%	-4.68%	21.55%
MADVX BlackRock Equity Dividend Fund	16.37%	21.70%	6.98%	12.71%	-3.97%	20.13%	4.03%	27.58%	-7.15%	16.31%

Correlation

The correlation between SPFIX and MADVX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Jan 4, 1993	0.86

The correlation between SPFIX and MADVX shifts across timeframes, from 0.70 (3 years) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPFIX vs. MADVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPFIX

SPFIX Risk / Return Rank: 57
SPFIX Sharpe Ratio Rank: 54
SPFIX Sortino Ratio Rank: 50
SPFIX Omega Ratio Rank: 50
SPFIX Calmar Ratio Rank: 58
SPFIX Martin Ratio Rank: 71

MADVX

MADVX Risk / Return Rank: 88
MADVX Sharpe Ratio Rank: 92
MADVX Sortino Ratio Rank: 88
MADVX Omega Ratio Rank: 85
MADVX Calmar Ratio Rank: 86
MADVX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPFIX vs. MADVX - 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 BlackRock Equity Dividend Fund (MADVX). 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	MADVX	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.37	-0.86
Sortino ratio: Return per unit of downside risk	2.10	3.28	-1.19
Omega ratio: Gain probability vs. loss probability	1.27	1.42	-0.15
Calmar ratio: Return relative to maximum drawdown	2.17	3.10	-0.94
Martin ratio: Return relative to average drawdown	9.30	13.29	-3.99

SPFIX vs. MADVX - Sharpe Ratio Comparison

The current SPFIX Sharpe Ratio is 1.51, which is lower than the MADVX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SPFIX and MADVX, 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. MADVX - Drawdown Comparison

The maximum SPFIX drawdown since its inception was -54.81%, which is greater than MADVX's maximum drawdown of -50.00%. Use the drawdown chart below to compare losses from any high point for SPFIX and MADVX.

Drawdown Indicators

	SPFIX	MADVX	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-50.00%	-4.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-9.01%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-15.22%	-3.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-18.05%	-6.64%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-35.94%	+2.11%
Current Drawdown Current decline from peak	-1.39%	0.00%	-1.39%
Average Drawdown Average peak-to-trough decline	-8.91%	-5.27%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.10%	-0.03%

Volatility

SPFIX vs. MADVX - Volatility Comparison

Shelton Capital Management S&P 500 Index Fund (SPFIX) and BlackRock Equity Dividend Fund (MADVX) have volatilities of 3.49% and 3.39%, 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.

Volatility by Period

	SPFIX	MADVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	3.39%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	9.43%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	11.84%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.33%	14.20%	+4.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	16.30%	+2.58%

SPFIX vs. MADVX - Expense Ratio Comparison

SPFIX has a 0.43% expense ratio, which is lower than MADVX's 0.68% expense ratio.

Dividends

SPFIX vs. MADVX - Dividend Comparison

SPFIX's dividend yield for the trailing twelve months is around 3.31%, less than MADVX's 14.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MADVX BlackRock Equity Dividend Fund	14.00%	10.23%	8.58%	7.08%	13.50%	12.15%	6.35%	13.15%	14.04%	14.38%	7.98%	18.44%
SPFIX Shelton Capital Management S&P 500 Index Fund	3.31%	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 MADVX in my portfolio?

SPFIX and MADVX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPFIX or MADVX?

SPFIX has higher volatility (3.49%) compared to MADVX (3.39%). In terms of maximum drawdown, SPFIX dropped -54.81% vs MADVX's -50.00%.

Which has better risk-adjusted returns?

MADVX currently has the higher Sharpe Ratio (2.37 vs 1.51), 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.