ETMGX vs. NASDX
ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - ETMGX is a Small Cap Growth Equities fund managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 10 years, ETMGX returned 7.56%/yr vs 22.54%/yr for NASDX. A 0.68 correlation means they provide meaningful diversification when combined. ETMGX charges 1.11%/yr vs 0.63%/yr for NASDX.
Performance
ETMGX vs. NASDX - Performance Comparison
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Returns By Period
In the year-to-date period, ETMGX achieves a 1.62% return, which is significantly lower than NASDX's 21.03% return. Over the past 10 years, ETMGX has underperformed NASDX with an annualized return of 7.56%, while NASDX has yielded a comparatively higher 22.54% annualized return.
ETMGX
- 1D
- -0.42%
- 1M
- -1.63%
- YTD
- 1.62%
- 6M
- 0.06%
- 1Y
- -1.73%
- 3Y*
- 3.48%
- 5Y*
- 0.82%
- 10Y*
- 7.56%
NASDX
- 1D
- -0.29%
- 1M
- 9.16%
- YTD
- 21.03%
- 6M
- 19.66%
- 1Y
- 41.24%
- 3Y*
- 32.52%
- 5Y*
- 19.94%
- 10Y*
- 22.54%
ETMGX vs. NASDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 1.62% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | 21.03% | 21.00% | 36.91% | 54.69% | -32.57% | 27.32% | 48.59% | 38.22% | -1.21% | 31.27% |
Correlation
The correlation between ETMGX and NASDX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.68 |
Over the past year, the correlation between ETMGX and NASDX has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
ETMGX vs. NASDX — Risk / Return Rank
ETMGX
NASDX
ETMGX vs. NASDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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.
| ETMGX | NASDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.44 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 3.52 | -3.68 |
| Martin ratioReturn relative to average drawdown | -0.36 | 13.66 | -14.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETMGX | NASDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.13 | 2.60 | -2.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.87 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 1.00 | -0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.33 | +0.15 |
Drawdowns
ETMGX vs. NASDX - Drawdown Comparison
The maximum ETMGX drawdown since its inception was -37.02%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for ETMGX and NASDX.
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Drawdown Indicators
| ETMGX | NASDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -83.16% | +46.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.14% | -11.90% | -1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -22.71% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -35.33% | +10.19% |
Max Drawdown (10Y)Largest decline over 10 years | -37.02% | -35.33% | -1.69% |
Current DrawdownCurrent decline from peak | -12.90% | -0.29% | -12.61% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -34.37% | +27.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 3.06% | +2.79% |
Volatility
ETMGX vs. NASDX - Volatility Comparison
Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) have volatilities of 4.45% and 4.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETMGX | NASDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 4.52% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 11.19% | 12.19% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.08% | 16.10% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 23.05% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.92% | 22.68% | -2.76% |
ETMGX vs. NASDX - Expense Ratio Comparison
ETMGX has a 1.11% expense ratio, which is higher than NASDX's 0.63% expense ratio.
Dividends
ETMGX vs. NASDX - Dividend Comparison
ETMGX's dividend yield for the trailing twelve months is around 6.93%, more than NASDX's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.93% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares | 2.99% | 3.76% | 16.95% | 7.61% | 3.75% | 2.59% | 1.28% | 7.09% | 2.47% | 1.65% | 0.75% | 0.85% |
Frequently Asked Questions
ETMGX and NASDX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NASDX has higher volatility (4.52%) compared to ETMGX (4.45%). In terms of maximum drawdown, ETMGX dropped -37.02% vs NASDX's -83.16%.
NASDX currently has the higher Sharpe Ratio (2.60 vs -0.13), 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.
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