EFCNX vs. TVRIX

Last updated Jun 5, 2026

EFCNX (Emerald Insights Fund) and TVRIX (Guggenheim Directional Allocation Fund) are both Large Cap Growth Equities funds. Over the past 10 years, EFCNX returned 16.46%/yr vs 10.21%/yr for TVRIX. Their correlation of 0.81 suggests significant overlap in exposure. EFCNX charges 1.40%/yr vs 1.09%/yr for TVRIX.

Performance

EFCNX vs. TVRIX - Performance Comparison

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

Returns By Period

Over the past 10 years, EFCNX has outperformed TVRIX with an annualized return of 16.46%, while TVRIX has yielded a comparatively lower 10.21% annualized return.

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%

TVRIX

• 1D: -0.54%
• 1M: 5.99%
• YTD: 11.50%
• 6M: 11.42%
• 1Y: 25.84%
• 3Y*: 14.46%
• 5Y*: 7.36%
• 10Y*: 10.21%

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

EFCNX vs. TVRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFCNX Emerald Insights Fund	0.00%	28.71%	25.88%	40.82%	-31.09%	22.95%	49.60%	36.32%	-9.88%	22.52%
TVRIX Guggenheim Directional Allocation Fund	11.50%	13.83%	7.87%	11.00%	-17.53%	27.30%	5.08%	30.45%	-7.53%	23.45%

Correlation

The correlation between EFCNX and TVRIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Aug 6, 2014	0.81

Over the past year, the correlation between EFCNX and TVRIX has dropped to 0.30 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

EFCNX vs. TVRIX — Risk / Return Rank

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

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

TVRIX

TVRIX Risk / Return Rank: 74
TVRIX Sharpe Ratio Rank: 80
TVRIX Sortino Ratio Rank: 75
TVRIX Omega Ratio Rank: 72
TVRIX Calmar Ratio Rank: 67
TVRIX Martin Ratio Rank: 77

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.

EFCNX vs. TVRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Emerald Insights Fund (EFCNX) and Guggenheim Directional Allocation Fund (TVRIX). 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.

	EFCNX	TVRIX	Difference
Sharpe ratio: Return per unit of total volatility	3.67	2.59	+1.08
Sortino ratio: Return per unit of downside risk	5.88	3.61	+2.28
Omega ratio: Gain probability vs. loss probability	2.56	1.47	+1.09
Calmar ratio: Return relative to maximum drawdown	11.50	3.10	+8.40
Martin ratio: Return relative to average drawdown	66.02	14.21	+51.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFCNX vs. TVRIX - Sharpe Ratio Comparison

The current EFCNX Sharpe Ratio is 3.67, which is higher than the TVRIX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of EFCNX and TVRIX, 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

	EFCNX	TVRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.67	2.59	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.51	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.57	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.61	+0.01

Drawdowns

EFCNX vs. TVRIX - Drawdown Comparison

The maximum EFCNX drawdown since its inception was -38.34%, roughly equal to the maximum TVRIX drawdown of -39.36%. Use the drawdown chart below to compare losses from any high point for EFCNX and TVRIX.

Drawdown Indicators

	EFCNX	TVRIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-39.36%	+1.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-8.45%	+5.55%
Max Drawdown (3Y) Largest decline over 3 years	-27.61%	-24.87%	-2.74%
Max Drawdown (5Y) Largest decline over 5 years	-38.34%	-24.87%	-13.47%
Max Drawdown (10Y) Largest decline over 10 years	-38.34%	-39.36%	+1.02%
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-8.64%	-6.05%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.84%	-0.91%

Volatility

EFCNX vs. TVRIX - Volatility Comparison

The current volatility for Emerald Insights Fund (EFCNX) is 0.00%, while Guggenheim Directional Allocation Fund (TVRIX) has a volatility of 3.27%. This indicates that EFCNX experiences smaller price fluctuations and is considered to be less risky than TVRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFCNX	TVRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.27%	-3.27%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	7.89%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	9.18%	10.09%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	14.43%	+8.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	17.82%	+4.98%

EFCNX vs. TVRIX - Expense Ratio Comparison

EFCNX has a 1.40% expense ratio, which is higher than TVRIX's 1.09% expense ratio.

Dividends

EFCNX vs. TVRIX - Dividend Comparison

EFCNX's dividend yield for the trailing twelve months is around 8.50%, less than TVRIX's 8.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EFCNX Emerald Insights Fund	8.50%	8.50%	1.27%	0.00%	5.41%	15.80%	9.41%	0.04%	27.51%
TVRIX Guggenheim Directional Allocation Fund	8.64%	9.64%	0.00%	2.03%	0.71%	14.34%	0.30%	16.62%	14.33%

Frequently Asked Questions

Can I hold both EFCNX and TVRIX in my portfolio?

EFCNX and TVRIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFCNX or TVRIX?

TVRIX has higher volatility (3.27%) compared to EFCNX (0.00%). In terms of maximum drawdown, EFCNX dropped -38.34% vs TVRIX's -39.36%.

Which has better risk-adjusted returns?

EFCNX currently has the higher Sharpe Ratio (3.67 vs 2.59), 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.