SPMIX vs. NASDX

Last updated Jun 4, 2026

SPMIX (Shelton Capital Management S&P Midcap Index Fund) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - SPMIX is a Mid Cap Blend Equities fund managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 10 years, SPMIX returned 12.67%/yr vs 22.58%/yr for NASDX. A 0.79 correlation means they provide meaningful diversification when combined. SPMIX charges 0.62%/yr vs 0.63%/yr for NASDX.

Performance

SPMIX vs. NASDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management S&P Midcap Index Fund (SPMIX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPMIX achieves a 13.67% return, which is significantly lower than NASDX's 21.38% return. Over the past 10 years, SPMIX has underperformed NASDX with an annualized return of 12.67%, while NASDX has yielded a comparatively higher 22.58% annualized return.

SPMIX

• 1D: 0.86%
• 1M: 3.84%
• YTD: 13.67%
• 6M: 13.88%
• 1Y: 24.70%
• 3Y*: 19.12%
• 5Y*: 9.76%
• 10Y*: 12.67%

NASDX

• 1D: 0.47%
• 1M: 10.94%
• YTD: 21.38%
• 6M: 19.90%
• 1Y: 42.08%
• 3Y*: 32.65%
• 5Y*: 20.44%
• 10Y*: 22.58%

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

SPMIX vs. NASDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMIX Shelton Capital Management S&P Midcap Index Fund	13.67%	6.72%	24.42%	15.96%	-13.18%	23.73%	12.97%	34.63%	-11.34%	15.74%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	21.38%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	38.22%	-1.21%	31.27%

Correlation

The correlation between SPMIX and NASDX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 19, 2000	0.79

The correlation between SPMIX and NASDX shifts across timeframes, from 0.64 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPMIX vs. NASDX — Risk / Return Rank

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

SPMIX

SPMIX Risk / Return Rank: 43
SPMIX Sharpe Ratio Rank: 35
SPMIX Sortino Ratio Rank: 36
SPMIX Omega Ratio Rank: 33
SPMIX Calmar Ratio Rank: 59
SPMIX Martin Ratio Rank: 53

NASDX

NASDX Risk / Return Rank: 75
NASDX Sharpe Ratio Rank: 84
NASDX Sortino Ratio Rank: 71
NASDX Omega Ratio Rank: 67
NASDX Calmar Ratio Rank: 80
NASDX Martin Ratio Rank: 75

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.

SPMIX vs. NASDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management S&P Midcap Index Fund (SPMIX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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.

	SPMIX	NASDX	Difference
Sharpe ratio Return per unit of total volatility	1.71	2.70	-0.98
Sortino ratio Return per unit of downside risk	2.49	3.51	-1.01
Omega ratio Gain probability vs. loss probability	1.30	1.46	-0.16
Calmar ratio Return relative to maximum drawdown	2.96	3.65	-0.68
Martin ratio Return relative to average drawdown	10.83	14.16	-3.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMIX vs. NASDX - Sharpe Ratio Comparison

The current SPMIX Sharpe Ratio is 1.71, which is lower than the NASDX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of SPMIX and NASDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPMIX	NASDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.70	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.89	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	1.00	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.33	+0.14

Drawdowns

SPMIX vs. NASDX - Drawdown Comparison

The maximum SPMIX drawdown since its inception was -55.44%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for SPMIX and NASDX.

Drawdown Indicators

	SPMIX	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-55.44%	-83.16%	+27.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-11.90%	+3.01%
Max Drawdown (3Y) Largest decline over 3 years	-23.73%	-22.71%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	-35.33%	+11.33%
Max Drawdown (10Y) Largest decline over 10 years	-41.91%	-35.33%	-6.58%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.26%	-34.37%	+27.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	3.06%	-0.63%

Volatility

SPMIX vs. NASDX - Volatility Comparison

Shelton Capital Management S&P Midcap Index Fund (SPMIX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) have volatilities of 4.42% and 4.51%, 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

	SPMIX	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.51%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	12.19%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	16.10%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.12%	23.06%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	22.68%	-1.36%

SPMIX vs. NASDX - Expense Ratio Comparison

SPMIX has a 0.62% expense ratio, which is lower than NASDX's 0.63% expense ratio.

Dividends

SPMIX vs. NASDX - Dividend Comparison

SPMIX's dividend yield for the trailing twelve months is around 5.01%, more than NASDX's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	2.98%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%
SPMIX Shelton Capital Management S&P Midcap Index Fund	5.01%	5.55%	20.56%	6.35%	9.15%	9.87%	8.65%	13.64%	13.74%	6.83%	16.77%	19.89%

Frequently Asked Questions

Can I hold both SPMIX and NASDX in my portfolio?

SPMIX and NASDX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPMIX or NASDX?

NASDX has higher volatility (4.51%) compared to SPMIX (4.42%). In terms of maximum drawdown, SPMIX dropped -55.44% vs NASDX's -83.16%.

Which has better risk-adjusted returns?

NASDX currently has the higher Sharpe Ratio (2.70 vs 1.71), 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.