EMSQX vs. CFNTX

Last updated Apr 2, 2026

Compare and contrast key facts about Shelton Emerging Markets Fund (EMSQX) and Green California Tax-Free Income Fund (CFNTX).

EMSQX is managed by Shelton Capital Management. It was launched on Mar 19, 1997. CFNTX is managed by Shelton Capital Management. It was launched on Dec 3, 1985.

Performance

EMSQX vs. CFNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Emerging Markets Fund (EMSQX) and Green California Tax-Free Income Fund (CFNTX). The values are adjusted to include any dividend payments, if applicable.

EMSQX vs. CFNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMSQX Shelton Emerging Markets Fund	3.82%	32.98%	3.45%	15.43%	-14.33%	0.77%	44.90%
CFNTX Green California Tax-Free Income Fund	-0.75%	2.54%	1.13%	7.39%	-6.28%	-0.04%	1.41%

Returns By Period

In the year-to-date period, EMSQX achieves a 3.82% return, which is significantly higher than CFNTX's -0.75% return.

EMSQX

• 1D: 2.53%
• 1M: -9.27%
• YTD: 3.82%
• 6M: 7.05%
• 1Y: 33.61%
• 3Y*: 14.47%
• 5Y*: 7.02%
• 10Y*: —

CFNTX

• 1D: 0.10%
• 1M: -2.05%
• YTD: -0.75%
• 6M: 0.15%
• 1Y: 2.44%
• 3Y*: 2.79%
• 5Y*: 0.83%
• 10Y*: 1.45%

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

EMSQX vs. CFNTX - Expense Ratio Comparison

EMSQX has a 1.77% expense ratio, which is higher than CFNTX's 0.76% expense ratio.

EMSQX

Shelton Emerging Markets Fund

CFNTX

Green California Tax-Free Income Fund

Return for Risk

EMSQX vs. CFNTX — Risk / Return Rank

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

EMSQX

EMSQX Risk / Return Rank: 85
EMSQX Sharpe Ratio Rank: 88
EMSQX Sortino Ratio Rank: 86
EMSQX Omega Ratio Rank: 81
EMSQX Calmar Ratio Rank: 85
EMSQX Martin Ratio Rank: 83

CFNTX

CFNTX Risk / Return Rank: 23
CFNTX Sharpe Ratio Rank: 23
CFNTX Sortino Ratio Rank: 18
CFNTX Omega Ratio Rank: 40
CFNTX Calmar Ratio Rank: 17
CFNTX Martin Ratio Rank: 16

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.

EMSQX vs. CFNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Emerging Markets Fund (EMSQX) and Green California Tax-Free Income Fund (CFNTX). 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.

	EMSQX	CFNTX	Difference
Sharpe ratio Return per unit of total volatility	1.89	0.72	+1.17
Sortino ratio Return per unit of downside risk	2.45	0.95	+1.50
Omega ratio Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio Return relative to maximum drawdown	2.40	0.72	+1.69
Martin ratio Return relative to average drawdown	9.39	2.35	+7.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMSQX vs. CFNTX - Sharpe Ratio Comparison

The current EMSQX Sharpe Ratio is 1.89, which is higher than the CFNTX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of EMSQX and CFNTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMSQX	CFNTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.72	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.26	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	1.14	-0.32

Correlation

The correlation between EMSQX and CFNTX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EMSQX vs. CFNTX - Dividend Comparison

EMSQX's dividend yield for the trailing twelve months is around 15.76%, more than CFNTX's 2.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMSQX Shelton Emerging Markets Fund	15.76%	16.36%	7.85%	10.06%	1.52%	1.94%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%
CFNTX Green California Tax-Free Income Fund	2.51%	2.38%	2.64%	5.32%	2.05%	1.95%	1.79%	2.53%	2.27%	2.52%	3.03%	2.40%

Drawdowns

EMSQX vs. CFNTX - Drawdown Comparison

The maximum EMSQX drawdown since its inception was -29.96%, which is greater than CFNTX's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for EMSQX and CFNTX.

Drawdown Indicators

	EMSQX	CFNTX	Difference
Max Drawdown Largest peak-to-trough decline	-29.96%	-16.08%	-13.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-4.16%	-9.44%
Max Drawdown (5Y) Largest decline over 5 years	-27.29%	-9.99%	-17.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-9.99%	—
Current Drawdown Current decline from peak	-11.42%	-2.33%	-9.09%
Average Drawdown Average peak-to-trough decline	-8.16%	-2.10%	-6.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	1.27%	+2.21%

Volatility

EMSQX vs. CFNTX - Volatility Comparison

Shelton Emerging Markets Fund (EMSQX) has a higher volatility of 8.37% compared to Green California Tax-Free Income Fund (CFNTX) at 1.18%. This indicates that EMSQX's price experiences larger fluctuations and is considered to be riskier than CFNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMSQX	CFNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.37%	1.18%	+7.19%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	1.56%	+12.06%
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	3.94%	+14.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	3.20%	+13.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	3.15%	+13.33%