USNQX vs. NASDX
USNQX (USAA Nasdaq 100 Index Fund) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, USNQX returned 21.88%/yr vs 22.78%/yr for NASDX. With a 0.99 correlation, they move nearly in lockstep. USNQX charges 0.42%/yr vs 0.63%/yr for NASDX.
Performance
USNQX vs. NASDX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with USNQX having a 20.60% return and NASDX slightly lower at 20.41%. Both investments have delivered pretty close results over the past 10 years, with USNQX having a 21.88% annualized return and NASDX not far ahead at 22.78%.
USNQX
- 1D
- 2.49%
- 1M
- 3.20%
- YTD
- 20.60%
- 6M
- 19.59%
- 1Y
- 40.96%
- 3Y*
- 26.79%
- 5Y*
- 17.09%
- 10Y*
- 21.88%
NASDX
- 1D
- 2.48%
- 1M
- 3.17%
- YTD
- 20.41%
- 6M
- 19.57%
- 1Y
- 41.12%
- 3Y*
- 30.69%
- 5Y*
- 19.33%
- 10Y*
- 22.78%
USNQX vs. NASDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USNQX USAA Nasdaq 100 Index Fund | 20.60% | 20.52% | 25.42% | 54.46% | -32.71% | 26.82% | 48.31% | 38.86% | -0.43% | 32.30% |
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | 20.41% | 21.00% | 36.91% | 54.69% | -32.57% | 27.32% | 48.59% | 38.22% | -1.21% | 31.27% |
Correlation
The correlation between USNQX and NASDX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2000 | 0.99 |
The correlation between USNQX and NASDX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
USNQX vs. NASDX — Risk / Return Rank
USNQX
NASDX
USNQX vs. NASDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Nasdaq 100 Index Fund (USNQX) 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.
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.
| USNQX | NASDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.40 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 3.42 | -0.06 |
| Martin ratioReturn relative to average drawdown | 12.47 | 12.86 | -0.40 |
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Drawdowns
USNQX vs. NASDX - Drawdown Comparison
The maximum USNQX drawdown since its inception was -76.24%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for USNQX and NASDX.
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Drawdown Indicators
| USNQX | NASDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -83.16% | +6.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.07% | -11.90% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -22.88% | -22.71% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -35.33% | -1.62% |
Max Drawdown (10Y)Largest decline over 10 years | -36.95% | -35.33% | -1.62% |
Current DrawdownCurrent decline from peak | -0.78% | -0.80% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -26.71% | -34.31% | +7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.16% | +0.09% |
Volatility
USNQX vs. NASDX - Volatility Comparison
USAA Nasdaq 100 Index Fund (USNQX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) have volatilities of 8.49% and 8.48%, 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.
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Volatility by Period
| USNQX | NASDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.49% | 8.48% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.36% | 14.35% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 17.71% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.13% | 23.29% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 22.80% | -0.02% |
USNQX vs. NASDX - Expense Ratio Comparison
USNQX has a 0.42% expense ratio, which is lower than NASDX's 0.63% expense ratio.
Dividends
USNQX vs. NASDX - Dividend Comparison
USNQX's dividend yield for the trailing twelve months is around 2.50%, less than NASDX's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | 3.01% | 3.76% | 16.95% | 7.61% | 3.75% | 2.59% | 1.28% | 7.09% | 2.47% | 1.65% | 0.75% | 0.85% |
USNQX USAA Nasdaq 100 Index Fund | 2.50% | 3.01% | 2.19% | 2.60% | 4.13% | 4.48% | 1.53% | 0.88% | 0.69% | 1.97% | 0.50% | 2.73% |
Frequently Asked Questions
With a correlation of 1.00, USNQX and NASDX 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.
USNQX has higher volatility (8.49%) compared to NASDX (8.48%). In terms of maximum drawdown, USNQX dropped -76.24% vs NASDX's -83.16%.
NASDX currently has the higher Sharpe Ratio (2.30 vs 2.29), 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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