CAUSX vs. FNBGX

Last updated Jun 4, 2026

CAUSX (Shelton Capital Management U.S. Government Securities Fund) and FNBGX (Fidelity Long-Term Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, CAUSX returned 0.13%/yr vs -5.10%/yr for FNBGX. Their correlation of 0.84 suggests significant overlap in exposure. CAUSX charges 0.75%/yr vs 0.03%/yr for FNBGX.

Performance

CAUSX vs. FNBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management U.S. Government Securities Fund (CAUSX) and Fidelity Long-Term Treasury Bond Index Fund (FNBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAUSX achieves a -0.27% return, which is significantly lower than FNBGX's 0.02% return.

CAUSX

• 1D: 0.11%
• 1M: 0.38%
• YTD: -0.27%
• 6M: -0.84%
• 1Y: 3.45%
• 3Y*: 2.70%
• 5Y*: 0.13%
• 10Y*: 0.73%

FNBGX

• 1D: 0.22%
• 1M: 1.23%
• YTD: 0.02%
• 6M: -1.23%
• 1Y: 5.75%
• 3Y*: -0.54%
• 5Y*: -5.10%
• 10Y*: —

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

CAUSX vs. FNBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAUSX Shelton Capital Management U.S. Government Securities Fund	-0.27%	6.38%	-0.20%	3.83%	-7.74%	-2.99%	5.33%	4.98%	0.48%	-0.34%
FNBGX Fidelity Long-Term Treasury Bond Index Fund	0.02%	5.30%	-6.18%	3.20%	-29.89%	-5.17%	17.58%	14.24%	-1.62%	1.86%

Correlation

The correlation between CAUSX and FNBGX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 20, 2017	0.84

The correlation between CAUSX and FNBGX shifts across timeframes, from 0.84 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CAUSX vs. FNBGX — Risk / Return Rank

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

CAUSX

CAUSX Risk / Return Rank: 10
CAUSX Sharpe Ratio Rank: 10
CAUSX Sortino Ratio Rank: 10
CAUSX Omega Ratio Rank: 9
CAUSX Calmar Ratio Rank: 10
CAUSX Martin Ratio Rank: 9

FNBGX

FNBGX Risk / Return Rank: 7
FNBGX Sharpe Ratio Rank: 8
FNBGX Sortino Ratio Rank: 7
FNBGX Omega Ratio Rank: 7
FNBGX Calmar Ratio Rank: 8
FNBGX Martin Ratio Rank: 7

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.

CAUSX vs. FNBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management U.S. Government Securities Fund (CAUSX) and Fidelity Long-Term Treasury Bond Index Fund (FNBGX). 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.

	CAUSX	FNBGX	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.63	+0.17
Sortino ratio: Return per unit of downside risk	1.19	0.96	+0.23
Omega ratio: Gain probability vs. loss probability	1.14	1.11	+0.03
Calmar ratio: Return relative to maximum drawdown	0.92	0.78	+0.15
Martin ratio: Return relative to average drawdown	2.65	2.06	+0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAUSX vs. FNBGX - Sharpe Ratio Comparison

The current CAUSX Sharpe Ratio is 0.79, which is comparable to the FNBGX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of CAUSX and FNBGX, 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

	CAUSX	FNBGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.63	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.35	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	-0.07	+0.81

Drawdowns

CAUSX vs. FNBGX - Drawdown Comparison

The maximum CAUSX drawdown since its inception was -14.35%, smaller than the maximum FNBGX drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for CAUSX and FNBGX.

Drawdown Indicators

	CAUSX	FNBGX	Difference
Max Drawdown Largest peak-to-trough decline	-14.35%	-46.86%	+32.51%
Max Drawdown (1Y) Largest decline over 1 year	-3.87%	-7.28%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-5.74%	-17.66%	+11.92%
Max Drawdown (5Y) Largest decline over 5 years	-12.17%	-41.54%	+29.37%
Max Drawdown (10Y) Largest decline over 10 years	-14.35%	—	—
Current Drawdown Current decline from peak	-2.77%	-37.24%	+34.47%
Average Drawdown Average peak-to-trough decline	-3.20%	-21.65%	+18.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	2.74%	-1.39%

Volatility

CAUSX vs. FNBGX - Volatility Comparison

The current volatility for Shelton Capital Management U.S. Government Securities Fund (CAUSX) is 1.41%, while Fidelity Long-Term Treasury Bond Index Fund (FNBGX) has a volatility of 2.79%. This indicates that CAUSX experiences smaller price fluctuations and is considered to be less risky than FNBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAUSX	FNBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.79%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	3.16%	6.13%	-2.97%
Volatility (1Y) Calculated over the trailing 1-year period	4.51%	9.03%	-4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.96%	14.59%	-9.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.06%	14.20%	-10.14%

CAUSX vs. FNBGX - Expense Ratio Comparison

CAUSX has a 0.75% expense ratio, which is higher than FNBGX's 0.03% expense ratio.

Dividends

CAUSX vs. FNBGX - Dividend Comparison

CAUSX's dividend yield for the trailing twelve months is around 3.22%, less than FNBGX's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAUSX Shelton Capital Management U.S. Government Securities Fund	3.22%	4.55%	3.16%	3.08%	1.46%	1.13%	1.15%	1.42%	1.45%	1.41%	1.72%	1.38%
FNBGX Fidelity Long-Term Treasury Bond Index Fund	4.00%	3.88%	3.75%	3.20%	2.26%	2.47%	3.96%	2.63%	2.93%	0.70%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAUSX and FNBGX in my portfolio?

With a correlation of 0.94, CAUSX and FNBGX 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, CAUSX or FNBGX?

FNBGX has higher volatility (2.79%) compared to CAUSX (1.41%). In terms of maximum drawdown, CAUSX dropped -14.35% vs FNBGX's -46.86%.

Which has better risk-adjusted returns?

CAUSX currently has the higher Sharpe Ratio (0.79 vs 0.63), 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.