SPINX vs. SPFIX

Last updated Aug 1, 2026

SPINX (SEI Institutional Investments Trust S&P 500 Index Fund) and SPFIX (Shelton Capital Management S&P 500 Index Fund) are both S&P 500 funds tracking the S&P 500 Index, from SEI and BlackRock respectively. Both are passively managed. Over the past 10 years, SPINX returned 14.85%/yr vs 17.03%/yr for SPFIX. Their 0.99 correlation means they have historically moved very closely together. SPINX charges 0.12%/yr vs 0.43%/yr for SPFIX.

Performance

SPINX vs. SPFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) and Shelton Capital Management S&P 500 Index Fund (SPFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPINX having a 9.32% return and SPFIX slightly lower at 9.11%. Over the past 10 years, SPINX has underperformed SPFIX with an annualized return of 14.85%, while SPFIX has yielded a comparatively higher 17.03% annualized return.

SPINX

• 1D: 1.66%
• 1M: -0.55%
• 6M: 7.77%
• YTD: 9.32%
• 1Y: 20.66%
• 3Y*: 18.70%
• 5Y*: 12.45%
• 10Y*: 14.85%
• ALL TIME*: 13.71%

SPFIX

• 1D: 1.64%
• 1M: -0.57%
• 6M: 7.61%
• YTD: 9.11%
• 1Y: 20.29%
• 3Y*: 24.08%
• 5Y*: 15.32%
• 10Y*: 17.03%
• ALL TIME*: 10.87%

*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)
SPFIX Shelton Capital Management S&P 500 Index Fund	$0.00	$0.00	$0.00
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	$0.00	$0.00	$0.00

SPINX vs. SPFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	9.32%	17.89%	24.02%	26.24%	-18.27%	28.62%	18.35%	31.42%	-4.46%	21.74%
SPFIX Shelton Capital Management S&P 500 Index Fund	9.11%	17.23%	42.83%	25.48%	-18.22%	27.99%	17.41%	41.64%	-4.68%	21.55%

Correlation

The correlation between SPINX and SPFIX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013	0.99

The correlation between SPINX and SPFIX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

SPINX vs. SPFIX — Risk / Return Rank

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

SPINX

SPINX Risk / Return Rank: 61
SPINX Sharpe Ratio Rank: 58
SPINX Sortino Ratio Rank: 55
SPINX Omega Ratio Rank: 56
SPINX Calmar Ratio Rank: 61
SPINX Martin Ratio Rank: 73

SPFIX

SPFIX Risk / Return Rank: 60
SPFIX Sharpe Ratio Rank: 57
SPFIX Sortino Ratio Rank: 54
SPFIX Omega Ratio Rank: 54
SPFIX Calmar Ratio Rank: 60
SPFIX Martin Ratio Rank: 72

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.

SPINX vs. SPFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) and Shelton Capital Management S&P 500 Index Fund (SPFIX). 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.

	SPINX	SPFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.41	+0.03
Sortino ratio: Return per unit of downside risk	2.00	1.97	+0.03
Omega ratio: Gain probability vs. loss probability	1.26	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	2.07	2.02	+0.05
Martin ratio: Return relative to average drawdown	8.87	8.68	+0.19

SPINX vs. SPFIX - Sharpe Ratio Comparison

The current SPINX Sharpe Ratio is 1.43, which is comparable to the SPFIX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of SPINX and SPFIX, 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

SPINX vs. SPFIX - Drawdown Comparison

The maximum SPINX drawdown since its inception was -33.82%, smaller than the maximum SPFIX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for SPINX and SPFIX.

Drawdown Indicators

	SPINX	SPFIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-54.81%	+20.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-8.90%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-32.91%	-18.94%	-13.97%
Max Drawdown (5Y) Largest decline over 5 years	-32.91%	-24.69%	-8.22%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	-33.83%	+0.01%
Current Drawdown Current decline from peak	-2.13%	-2.08%	-0.05%
Average Drawdown Average peak-to-trough decline	-5.17%	-8.91%	+3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	2.07%	+0.01%

Volatility

SPINX vs. SPFIX - Volatility Comparison

SEI Institutional Investments Trust S&P 500 Index Fund (SPINX) and Shelton Capital Management S&P 500 Index Fund (SPFIX) have volatilities of 3.42% and 3.42%, 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

	SPINX	SPFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	3.42%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	10.04%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	12.80%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	18.33%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	18.88%	+2.08%

SPINX vs. SPFIX - Expense Ratio Comparison

SPINX has a 0.12% expense ratio, which is lower than SPFIX's 0.43% expense ratio.

Dividends

SPINX vs. SPFIX - Dividend Comparison

SPINX's dividend yield for the trailing twelve months is around 10.94%, more than SPFIX's 3.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPFIX Shelton Capital Management S&P 500 Index Fund	3.34%	3.45%	27.20%	8.08%	5.07%	5.43%	8.06%	16.60%	2.49%	3.01%	2.92%	4.35%
SPINX SEI Institutional Investments Trust S&P 500 Index Fund	10.94%	11.90%	26.02%	9.77%	9.59%	6.58%	3.58%	3.01%	4.94%	2.32%	1.97%	2.29%

Frequently Asked Questions

Can I hold both SPINX and SPFIX in my portfolio?

With a correlation of 0.99, SPINX and SPFIX 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, SPINX or SPFIX?

SPFIX has higher volatility (3.42%) compared to SPINX (3.42%). In terms of maximum drawdown, SPINX dropped -33.82% vs SPFIX's -54.81%.

Which has better risk-adjusted returns?

SPINX currently has the higher Sharpe Ratio (1.43 vs 1.41), 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.