^XAU vs. EPGFX
^XAU (PHLX Gold/Silver Sector Index) is an index, while EPGFX (EuroPac Gold Fund) is Gold fund managed by Euro Pacific Asset Management. Over the past 10 years, ^XAU returned 12.97%/yr vs 9.89%/yr for EPGFX. With a 0.95 correlation, they move nearly in lockstep.
Performance
^XAU vs. EPGFX - Performance Comparison
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Returns By Period
In the year-to-date period, ^XAU achieves a -6.93% return, which is significantly higher than EPGFX's -9.32% return. Over the past 10 years, ^XAU has outperformed EPGFX with an annualized return of 12.97%, while EPGFX has yielded a comparatively lower 9.89% annualized return.
^XAU
- 1D
- 1.65%
- 1M
- -13.24%
- YTD
- -6.93%
- 6M
- -11.02%
- 1Y
- 56.19%
- 3Y*
- 38.67%
- 5Y*
- 17.54%
- 10Y*
- 12.97%
EPGFX
- 1D
- -3.97%
- 1M
- -14.10%
- YTD
- -9.32%
- 6M
- -12.59%
- 1Y
- 43.03%
- 3Y*
- 30.83%
- 5Y*
- 12.35%
- 10Y*
- 9.89%
^XAU vs. EPGFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^XAU PHLX Gold/Silver Sector Index | -6.93% | 149.51% | 9.14% | 4.00% | -8.75% | -8.14% | 34.86% | 51.32% | -17.13% | 8.13% |
EPGFX EuroPac Gold Fund | -9.32% | 129.06% | 8.51% | 2.31% | -14.00% | -18.06% | 36.99% | 37.25% | -13.85% | 12.73% |
Correlation
The correlation between ^XAU and EPGFX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.95 |
The correlation between ^XAU and EPGFX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
^XAU vs. EPGFX — Risk / Return Rank
^XAU
EPGFX
^XAU vs. EPGFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PHLX Gold/Silver Sector Index (^XAU) and EuroPac Gold Fund (EPGFX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^XAU | EPGFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.42 | +0.25 |
| Martin ratioReturn relative to average drawdown | 4.17 | 3.66 | +0.51 |
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Drawdowns
^XAU vs. EPGFX - Drawdown Comparison
The maximum ^XAU drawdown since its inception was -83.04%, which is greater than EPGFX's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for ^XAU and EPGFX.
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Drawdown Indicators
| ^XAU | EPGFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.04% | -56.70% | -26.34% |
Max Drawdown (1Y)Largest decline over 1 year | -33.81% | -30.85% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -33.81% | -30.85% | -2.96% |
Max Drawdown (5Y)Largest decline over 5 years | -45.52% | -44.99% | -0.53% |
Max Drawdown (10Y)Largest decline over 10 years | -45.52% | -51.03% | +5.51% |
Current DrawdownCurrent decline from peak | -32.27% | -30.85% | -1.42% |
Average DrawdownAverage peak-to-trough decline | -39.74% | -22.04% | -17.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.50% | 11.93% | +1.57% |
Volatility
^XAU vs. EPGFX - Volatility Comparison
PHLX Gold/Silver Sector Index (^XAU) has a higher volatility of 16.74% compared to EuroPac Gold Fund (EPGFX) at 15.11%. This indicates that ^XAU's price experiences larger fluctuations and is considered to be riskier than EPGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^XAU | EPGFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.74% | 15.11% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 38.81% | 34.19% | +4.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.82% | 40.65% | +6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.63% | 32.93% | +3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.49% | 32.61% | +3.88% |
Frequently Asked Questions
With a correlation of 0.97, ^XAU and EPGFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
^XAU has higher volatility (16.74%) compared to EPGFX (15.11%). In terms of maximum drawdown, ^XAU dropped -83.04% vs EPGFX's -56.70%.
^XAU currently has the higher Sharpe Ratio (1.21 vs 1.08), 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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