VADDX vs. SPFIX

Last updated Jun 24, 2026

VADDX (Invesco Equally-Weighted S&P 500 Fund) and SPFIX (Shelton Capital Management S&P 500 Index Fund) are both S&P 500 funds - VADDX tracks the S&P 500 Equal Weight Index while SPFIX tracks the S&P 500 Index. Both are passively managed. Over the past 10 years, VADDX returned 12.03%/yr vs 17.83%/yr for SPFIX. Their correlation of 0.94 suggests significant overlap in exposure. VADDX charges 0.27%/yr vs 0.43%/yr for SPFIX.

Performance

VADDX vs. SPFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund (VADDX) and Shelton Capital Management S&P 500 Index Fund (SPFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VADDX achieves a 10.27% return, which is significantly higher than SPFIX's 9.49% return. Over the past 10 years, VADDX has underperformed SPFIX with an annualized return of 12.03%, while SPFIX has yielded a comparatively higher 17.83% annualized return.

VADDX

• 1D: 0.14%
• 1M: 1.83%
• YTD: 10.27%
• 6M: 9.36%
• 1Y: 19.29%
• 3Y*: 14.90%
• 5Y*: 8.73%
• 10Y*: 12.03%

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%

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

VADDX vs. SPFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADDX Invesco Equally-Weighted S&P 500 Fund	10.27%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%
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%

Correlation

The correlation between VADDX and SPFIX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 28, 1997	0.94

The correlation between VADDX and SPFIX shifts across timeframes, from 0.74 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VADDX vs. SPFIX — Risk / Return Rank

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

VADDX

VADDX Risk / Return Rank: 44
VADDX Sharpe Ratio Rank: 40
VADDX Sortino Ratio Rank: 40
VADDX Omega Ratio Rank: 36
VADDX Calmar Ratio Rank: 50
VADDX Martin Ratio Rank: 51

SPFIX

SPFIX Risk / Return Rank: 63
SPFIX Sharpe Ratio Rank: 61
SPFIX Sortino Ratio Rank: 56
SPFIX Omega Ratio Rank: 58
SPFIX Calmar Ratio Rank: 65
SPFIX 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.

VADDX vs. SPFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund (VADDX) 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.

	VADDX	SPFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.12	-0.40
Sortino ratio: Return per unit of downside risk	2.48	2.87	-0.39
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.60	2.96	-0.36
Martin ratio: Return relative to average drawdown	9.80	13.32	-3.52

VADDX vs. SPFIX - Sharpe Ratio Comparison

The current VADDX Sharpe Ratio is 1.72, which is comparable to the SPFIX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of VADDX 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

VADDX vs. SPFIX - Drawdown Comparison

The maximum VADDX drawdown since its inception was -60.12%, which is greater than SPFIX's maximum drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VADDX and SPFIX.

Drawdown Indicators

	VADDX	SPFIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.12%	-54.81%	-5.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-8.90%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	-17.86%	-18.94%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.58%	-24.69%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	-39.39%	-33.83%	-5.56%
Current Drawdown Current decline from peak	-1.16%	-1.73%	+0.57%
Average Drawdown Average peak-to-trough decline	-6.99%	-8.94%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	1.97%	+0.11%

Volatility

VADDX vs. SPFIX - Volatility Comparison

The current volatility for Invesco Equally-Weighted S&P 500 Fund (VADDX) is 3.66%, while Shelton Capital Management S&P 500 Index Fund (SPFIX) has a volatility of 4.66%. This indicates that VADDX experiences smaller price fluctuations and is considered to be less risky than SPFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VADDX	SPFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	4.66%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	9.80%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	12.45%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	18.31%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	18.92%	-0.36%

VADDX vs. SPFIX - Expense Ratio Comparison

VADDX has a 0.27% expense ratio, which is lower than SPFIX's 0.43% expense ratio.

Dividends

VADDX vs. SPFIX - Dividend Comparison

VADDX's dividend yield for the trailing twelve months is around 9.15%, more than SPFIX's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VADDX Invesco Equally-Weighted S&P 500 Fund	9.15%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Frequently Asked Questions

Can I hold both VADDX and SPFIX in my portfolio?

VADDX and SPFIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VADDX or SPFIX?

SPFIX has higher volatility (4.66%) compared to VADDX (3.66%). In terms of maximum drawdown, VADDX dropped -60.12% vs SPFIX's -54.81%.

Which has better risk-adjusted returns?

SPFIX currently has the higher Sharpe Ratio (2.12 vs 1.72), 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.