AAAU vs. FAGIX

Last updated Jun 13, 2026

AAAU (Goldman Sachs Physical Gold ETF) and FAGIX (Fidelity Capital & Income Fund) are both funds - AAAU is a Gold fund tracking the LBMA Gold PM Price, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. AAAU is passively managed, while FAGIX is actively managed. Over the past 5 years, AAAU returned 17.33%/yr vs 6.75%/yr for FAGIX. At a 0.13 correlation, their price movements are largely independent. AAAU charges 0.18%/yr vs 0.67%/yr for FAGIX.

Performance

AAAU vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Physical Gold ETF (AAAU) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAAU achieves a -2.40% return, which is significantly lower than FAGIX's 7.40% return.

AAAU

• 1D: 0.12%
• 1M: -10.17%
• YTD: -2.40%
• 6M: -2.14%
• 1Y: 24.10%
• 3Y*: 29.19%
• 5Y*: 17.33%
• 10Y*: —

FAGIX

• 1D: 1.15%
• 1M: 0.25%
• YTD: 7.40%
• 6M: 7.95%
• 1Y: 16.73%
• 3Y*: 12.87%
• 5Y*: 6.75%
• 10Y*: 8.03%

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

AAAU vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AAAU Goldman Sachs Physical Gold ETF	-2.40%	64.06%	26.91%	12.96%	-0.50%	-4.01%	25.02%	18.17%	8.28%
FAGIX Fidelity Capital & Income Fund	7.40%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.03%

Correlation

The correlation between AAAU and FAGIX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018	0.13

The correlation between AAAU and FAGIX shifts across timeframes, from 0.13 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AAAU vs. FAGIX — Risk / Return Rank

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

AAAU

AAAU Risk / Return Rank: 26
AAAU Sharpe Ratio Rank: 28
AAAU Sortino Ratio Rank: 25
AAAU Omega Ratio Rank: 31
AAAU Calmar Ratio Rank: 24
AAAU Martin Ratio Rank: 24

FAGIX

FAGIX Risk / Return Rank: 91
FAGIX Sharpe Ratio Rank: 91
FAGIX Sortino Ratio Rank: 88
FAGIX Omega Ratio Rank: 87
FAGIX Calmar Ratio Rank: 95
FAGIX Martin Ratio Rank: 96

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.

AAAU vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Physical Gold ETF (AAAU) and Fidelity Capital & Income Fund (FAGIX). 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.

	AAAU	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.89	2.63	-1.74
Sortino ratio: Return per unit of downside risk	1.26	3.75	-2.50
Omega ratio: Gain probability vs. loss probability	1.19	1.52	-0.33
Calmar ratio: Return relative to maximum drawdown	0.99	4.85	-3.86
Martin ratio: Return relative to average drawdown	2.86	19.86	-17.00

AAAU vs. FAGIX - Sharpe Ratio Comparison

The current AAAU Sharpe Ratio is 0.89, which is lower than the FAGIX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of AAAU and FAGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAAU vs. FAGIX - Drawdown Comparison

The maximum AAAU drawdown since its inception was -24.38%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for AAAU and FAGIX.

Drawdown Indicators

	AAAU	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.38%	-37.97%	+13.59%
Max Drawdown (1Y) Largest decline over 1 year	-24.38%	-3.49%	-20.89%
Max Drawdown (3Y) Largest decline over 3 years	-24.38%	-7.26%	-17.12%
Max Drawdown (5Y) Largest decline over 5 years	-24.38%	-15.42%	-8.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.45%	—
Current Drawdown Current decline from peak	-21.95%	-1.04%	-20.91%
Average Drawdown Average peak-to-trough decline	-6.23%	-6.98%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.44%	0.85%	+7.59%

Volatility

AAAU vs. FAGIX - Volatility Comparison

Goldman Sachs Physical Gold ETF (AAAU) has a higher volatility of 7.77% compared to Fidelity Capital & Income Fund (FAGIX) at 2.71%. This indicates that AAAU's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAAU	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	2.71%	+5.06%
Volatility (6M) Calculated over the trailing 6-month period	23.88%	5.30%	+18.58%
Volatility (1Y) Calculated over the trailing 1-year period	27.10%	6.42%	+20.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	6.66%	+11.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.13%	7.84%	+9.29%

AAAU vs. FAGIX - Expense Ratio Comparison

AAAU has a 0.18% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

AAAU vs. FAGIX - Dividend Comparison

AAAU has not paid dividends to shareholders, while FAGIX's dividend yield for the trailing twelve months is around 4.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAU Goldman Sachs Physical Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FAGIX Fidelity Capital & Income Fund	4.47%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%

Frequently Asked Questions

Can I hold both AAAU and FAGIX in my portfolio?

AAAU and FAGIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAAU or FAGIX?

AAAU has higher volatility (7.77%) compared to FAGIX (2.71%). In terms of maximum drawdown, AAAU dropped -24.38% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (2.63 vs 0.89), 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.