NASDX vs. BACAX

Last updated Jun 5, 2026

NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) and BACAX (BlackRock Energy Opportunities Fund) are both mutual funds - NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index, while BACAX is a Energy Equities fund managed by BlackRock. Over the past 10 years, NASDX returned 22.54%/yr vs 8.69%/yr for BACAX. At a 0.45 correlation, their price movements are largely independent. NASDX charges 0.63%/yr vs 1.32%/yr for BACAX.

Performance

NASDX vs. BACAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) and BlackRock Energy Opportunities Fund (BACAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NASDX achieves a 21.03% return, which is significantly lower than BACAX's 29.84% return. Over the past 10 years, NASDX has outperformed BACAX with an annualized return of 22.54%, while BACAX has yielded a comparatively lower 8.69% annualized return.

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%

BACAX

• 1D: 0.67%
• 1M: -2.53%
• YTD: 29.84%
• 6M: 28.05%
• 1Y: 44.30%
• 3Y*: 17.37%
• 5Y*: 18.44%
• 10Y*: 8.69%

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

NASDX vs. BACAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
BACAX BlackRock Energy Opportunities Fund	29.84%	10.53%	3.78%	2.61%	43.02%	42.93%	-29.68%	12.64%	-19.98%	2.07%

Correlation

The correlation between NASDX and BACAX is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 25, 2005	0.45

The correlation between NASDX and BACAX shifts across timeframes, from -0.13 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NASDX vs. BACAX — Risk / Return Rank

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

NASDX

NASDX Risk / Return Rank: 71
NASDX Sharpe Ratio Rank: 78
NASDX Sortino Ratio Rank: 65
NASDX Omega Ratio Rank: 63
NASDX Calmar Ratio Rank: 78
NASDX Martin Ratio Rank: 71

BACAX

BACAX Risk / Return Rank: 69
BACAX Sharpe Ratio Rank: 73
BACAX Sortino Ratio Rank: 56
BACAX Omega Ratio Rank: 54
BACAX Calmar Ratio Rank: 90
BACAX Martin Ratio Rank: 74

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.

NASDX vs. BACAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) and BlackRock Energy Opportunities Fund (BACAX). 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.

	NASDX	BACAX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.48	+0.13
Sortino ratio: Return per unit of downside risk	3.40	3.16	+0.25
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.04
Calmar ratio: Return relative to maximum drawdown	3.52	4.66	-1.15
Martin ratio: Return relative to average drawdown	13.66	13.83	-0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NASDX vs. BACAX - Sharpe Ratio Comparison

The current NASDX Sharpe Ratio is 2.60, which is comparable to the BACAX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of NASDX and BACAX, 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

	NASDX	BACAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.48	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.79	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.32	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.18	+0.15

Drawdowns

NASDX vs. BACAX - Drawdown Comparison

The maximum NASDX drawdown since its inception was -83.16%, which is greater than BACAX's maximum drawdown of -78.88%. Use the drawdown chart below to compare losses from any high point for NASDX and BACAX.

Drawdown Indicators

	NASDX	BACAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-78.88%	-4.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-9.11%	-2.79%
Max Drawdown (3Y) Largest decline over 3 years	-22.71%	-18.73%	-3.98%
Max Drawdown (5Y) Largest decline over 5 years	-35.33%	-25.74%	-9.59%
Max Drawdown (10Y) Largest decline over 10 years	-35.33%	-65.92%	+30.59%
Current Drawdown Current decline from peak	-0.29%	-5.19%	+4.90%
Average Drawdown Average peak-to-trough decline	-34.37%	-34.27%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.07%	-0.01%

Volatility

NASDX vs. BACAX - Volatility Comparison

The current volatility for Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) is 4.52%, while BlackRock Energy Opportunities Fund (BACAX) has a volatility of 6.99%. This indicates that NASDX experiences smaller price fluctuations and is considered to be less risky than BACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NASDX	BACAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	6.99%	-2.47%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	14.12%	-1.93%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	17.19%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.05%	23.55%	-0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	27.21%	-4.53%

NASDX vs. BACAX - Expense Ratio Comparison

NASDX has a 0.63% expense ratio, which is lower than BACAX's 1.32% expense ratio.

Dividends

NASDX vs. BACAX - Dividend Comparison

NASDX's dividend yield for the trailing twelve months is around 2.99%, more than BACAX's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BACAX BlackRock Energy Opportunities Fund	1.90%	2.47%	2.29%	3.06%	2.21%	2.39%	3.38%	2.69%	2.87%	2.48%	1.95%	1.98%
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

Can I hold both NASDX and BACAX in my portfolio?

NASDX and BACAX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NASDX or BACAX?

BACAX has higher volatility (6.99%) compared to NASDX (4.52%). In terms of maximum drawdown, NASDX dropped -83.16% vs BACAX's -78.88%.

Which has better risk-adjusted returns?

NASDX currently has the higher Sharpe Ratio (2.60 vs 2.48), 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.