Fund Evaluator:
Shelton Nasdaq-100 Index K (NDXKX)
Follow This Fund
Best Performing in Large Growth Over the Last Year
| 40.7% | Fidelity Advisor OTC Z (FOTJX) |
| 40.7% | Fidelity OTC (FOCPX) |
| 37.3% | Tanaka Growth (TGFRX) |
| 37.2% | Chase Growth N (CHASX) |
| 28.2% | American Beacon Man Lg Cp Growth Inv (BLYPX) |
Fund Details
Shelton Nasdaq-100 Index K Overview
Shelton Nasdaq-100 Index K (NDXKX) is a passively managed U.S. Equity Large Growth fund. Shelton Capital Management launched the fund in 2003.
The investment seeks to replicate the performance of the largest non-financial companies as measured by the Nasdaq-100 Index®. Under normal market conditions, the fund's policy to invest at least 80% of its total assets (which includes the amount of any borrowings for investment purposes) in the stocks comprising the index. It is passively managed. The Nasdaq-100 Index® includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization.
About Shelton Nasdaq-100 Index K (NDXKX)
There are 2 members of the management team with an average tenure of 13.68 years: Anthony Jacoby (2022), Stephen Rogers (2003). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and NASDAQ 100 TR USD index with a weighting of 100%. Shelton Nasdaq-100 Index K has 105 securities in its portfolio. The top 10 holdings constitute 44.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Shelton Nasdaq-100 Index K is part of the Equity global asset class and is within the U.S. Equity fund group. Shelton Nasdaq-100 Index K has 2.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.3%. There is 2.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Shelton Nasdaq-100 Index K has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $46 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NDXKX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Shelton Nasdaq-100 Index K expense ratio is above average compared to funds in the Large Growth category. Shelton Nasdaq-100 Index K has an expense ratio of 0.77%, which is 20% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Shelton Nasdaq-100 Index K has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 55% for the Large Growth category.
Recently, in the month of August 2026, Shelton Nasdaq-100 Index K returned 4.1%, which earned it a grade of B, as the Large Growth category had an average return of 3.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Shelton Nasdaq-100 Index K has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Shelton Nasdaq-100 Index K Grades
Year to date, the fund has returned 16.6%, 9.4 percentage points better than the category, which translates into a grade of A. The fund has returned 26.0% over the past year (grade of A), 24.0% over the past three years (grade of A) and 13.7% per year over the past five years (grade of A) and 19.8% per year over the past 10 years (grade of A).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Shelton Nasdaq-100 Index K, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
NDXKX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NDXKX Return (NAV) | 4.1% | -2.8% | 26.0% | 24.0% | 13.7% | 19.8% |
| NDXKX Grade | B | D | A | A | A | A |
| +/- Category | 0.7% | -1.6% | 14.1% | 4.0% | 5.0% | 4.1% |
| Large Growth Avg | 3.3% | -1.2% | 12.0% | 20.0% | 8.6% | 15.7% |
| NDXKX Tax Cost Ratio | na | na | 0.8% | 1.6% | 1.3% | 0.9% |
NDXKX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NDXKX Return (NAV) | 16.6% | 20.5% | 25.0% | 54.0% | -33.0% | 26.7% | 47.9% | 37.6% | -1.7% | 30.6% | 5.9% |
| NDXKX Grade | A | A | D | A | D | A | B | A | D | C | B |
| +/- Category | 9.4% | 4.8% | -4.6% | 15.3% | -0.9% | 6.5% | 5.7% | 4.4% | -0.9% | 0.8% | 3.2% |
| Large Growth Avg | 7.2% | 15.7% | 29.6% | 38.7% | -32.1% | 20.2% | 42.1% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 17.7% |
| Total Risk Index: | 1.45 - High |
| Category Risk Index: | 1.00 - Above Average |
| Category Risk Grade: | D (66% Rank) |
| Beta: | 1.26 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2268 Mil |
| Fund Total Assets: | $ 46 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 15% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 22.7 years | |||
| Average Tenure: 13.7 years | |||
| Managers (Year): Rogers Stephen (2003), Jacoby Anthony (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 105 |
| % in Top 10 Holdings: | 44.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.8% |
Portfolio Allocation |
|
| Domestic Stock: | 96.3% |
| Foreign Stock: | 2.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Fund Family: | Shelton Capital Management |
| Phone Number: | 800-955-9988 |
| Website: | www.sheltoncap.com |
| Status: | Open |
| Inception Date: | October 16, 2003 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Shelton Nasdaq-100 Index Investor |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
