CIAOX vs. EFCNX

Last updated Jun 5, 2026

CIAOX (Capital Advisors Growth Fund) and EFCNX (Emerald Insights Fund) are both Large Cap Growth Equities funds. Over the past 10 years, CIAOX returned 14.25%/yr vs 16.46%/yr for EFCNX. Their correlation of 0.86 suggests significant overlap in exposure. CIAOX charges 1.01%/yr vs 1.40%/yr for EFCNX.

Performance

CIAOX vs. EFCNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Advisors Growth Fund (CIAOX) and Emerald Insights Fund (EFCNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, CIAOX has underperformed EFCNX with an annualized return of 14.25%, while EFCNX has yielded a comparatively higher 16.46% annualized return.

CIAOX

• 1D: -1.40%
• 1M: 2.20%
• YTD: 4.98%
• 6M: 4.26%
• 1Y: 17.91%
• 3Y*: 19.02%
• 5Y*: 10.93%
• 10Y*: 14.25%

EFCNX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 26.89%
• 3Y*: 21.89%
• 5Y*: 10.67%
• 10Y*: 16.46%

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

CIAOX vs. EFCNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIAOX Capital Advisors Growth Fund	4.98%	16.47%	23.36%	24.35%	-18.96%	21.70%	29.05%	39.88%	-4.80%	14.99%
EFCNX Emerald Insights Fund	0.00%	28.71%	25.88%	40.82%	-31.09%	22.95%	49.60%	36.32%	-9.88%	22.52%

Correlation

The correlation between CIAOX and EFCNX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 6, 2014	0.86

Over the past year, the correlation between CIAOX and EFCNX has dropped to 0.34 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

CIAOX vs. EFCNX — Risk / Return Rank

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

CIAOX

CIAOX Risk / Return Rank: 22
CIAOX Sharpe Ratio Rank: 23
CIAOX Sortino Ratio Rank: 22
CIAOX Omega Ratio Rank: 22
CIAOX Calmar Ratio Rank: 19
CIAOX Martin Ratio Rank: 25

EFCNX

EFCNX Risk / Return Rank: 98
EFCNX Sharpe Ratio Rank: 97
EFCNX Sortino Ratio Rank: 97
EFCNX Omega Ratio Rank: 99
EFCNX Calmar Ratio Rank: 99
EFCNX Martin Ratio Rank: 99

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.

CIAOX vs. EFCNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Advisors Growth Fund (CIAOX) and Emerald Insights Fund (EFCNX). 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.

	CIAOX	EFCNX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	3.67	-2.32
Sortino ratio: Return per unit of downside risk	1.92	5.88	-3.97
Omega ratio: Gain probability vs. loss probability	1.24	2.56	-1.32
Calmar ratio: Return relative to maximum drawdown	1.53	11.50	-9.97
Martin ratio: Return relative to average drawdown	6.00	66.02	-60.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIAOX vs. EFCNX - Sharpe Ratio Comparison

The current CIAOX Sharpe Ratio is 1.35, which is lower than the EFCNX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of CIAOX and EFCNX, 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

	CIAOX	EFCNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	3.67	-2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.48	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.74	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.63	-0.31

Drawdowns

CIAOX vs. EFCNX - Drawdown Comparison

The maximum CIAOX drawdown since its inception was -66.49%, which is greater than EFCNX's maximum drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for CIAOX and EFCNX.

Drawdown Indicators

	CIAOX	EFCNX	Difference
Max Drawdown Largest peak-to-trough decline	-66.49%	-38.34%	-28.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-2.90%	-8.84%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-27.61%	+8.38%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-38.34%	+14.12%
Max Drawdown (10Y) Largest decline over 10 years	-28.96%	-38.34%	+9.38%
Current Drawdown Current decline from peak	-1.43%	0.00%	-1.43%
Average Drawdown Average peak-to-trough decline	-21.97%	-8.64%	-13.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	0.93%	+2.06%

Volatility

CIAOX vs. EFCNX - Volatility Comparison

Capital Advisors Growth Fund (CIAOX) has a higher volatility of 3.95% compared to Emerald Insights Fund (EFCNX) at 0.00%. This indicates that CIAOX's price experiences larger fluctuations and is considered to be riskier than EFCNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIAOX	EFCNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	0.00%	+3.95%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	0.00%	+10.30%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	9.18%	+4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	22.89%	-6.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	22.80%	-5.50%

CIAOX vs. EFCNX - Expense Ratio Comparison

CIAOX has a 1.01% expense ratio, which is lower than EFCNX's 1.40% expense ratio.

Dividends

CIAOX vs. EFCNX - Dividend Comparison

CIAOX's dividend yield for the trailing twelve months is around 4.10%, less than EFCNX's 8.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIAOX Capital Advisors Growth Fund	4.10%	4.30%	8.00%	0.42%	1.09%	10.43%	6.36%	7.31%	6.80%	7.93%	0.66%	6.45%
EFCNX Emerald Insights Fund	8.50%	8.50%	1.27%	0.00%	5.41%	15.80%	9.41%	0.04%	27.51%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CIAOX and EFCNX in my portfolio?

CIAOX and EFCNX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIAOX or EFCNX?

CIAOX has higher volatility (3.95%) compared to EFCNX (0.00%). In terms of maximum drawdown, CIAOX dropped -66.49% vs EFCNX's -38.34%.

Which has better risk-adjusted returns?

EFCNX currently has the higher Sharpe Ratio (3.67 vs 1.35), 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.