CEF vs. RYPMX

Last updated Jun 4, 2026

CEF (Sprott Physical Gold and Silver Trust) and RYPMX (Rydex Precious Metals Fund) are both Precious Metals funds. Over the past 10 years, CEF returned 13.80%/yr vs 14.77%/yr for RYPMX. A 0.60 correlation means they provide meaningful diversification when combined. CEF charges 0.48%/yr vs 1.26%/yr for RYPMX.

Performance

CEF vs. RYPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Gold and Silver Trust (CEF) and Rydex Precious Metals Fund (RYPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEF achieves a 1.16% return, which is significantly lower than RYPMX's 7.46% return. Over the past 10 years, CEF has underperformed RYPMX with an annualized return of 13.80%, while RYPMX has yielded a comparatively higher 14.77% annualized return.

CEF

• 1D: -1.74%
• 1M: -0.92%
• YTD: 1.16%
• 6M: 10.23%
• 1Y: 54.90%
• 3Y*: 35.48%
• 5Y*: 18.30%
• 10Y*: 13.80%

RYPMX

• 1D: 1.28%
• 1M: 5.36%
• YTD: 7.46%
• 6M: 14.86%
• 1Y: 80.72%
• 3Y*: 43.06%
• 5Y*: 17.92%
• 10Y*: 14.77%

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

CEF vs. RYPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEF Sprott Physical Gold and Silver Trust	1.16%	92.76%	24.07%	6.80%	1.07%	-8.32%	31.99%	16.91%	-6.34%	18.78%
RYPMX Rydex Precious Metals Fund	7.46%	148.94%	10.14%	4.24%	-10.57%	-8.96%	34.25%	52.91%	-16.56%	7.04%

Correlation

The correlation between CEF and RYPMX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 4, 1994	0.60

Over the past year, CEF and RYPMX have become more correlated (0.82) than their long-term average of 0.60, meaning their price movements have been converging.

Return for Risk

CEF vs. RYPMX — Risk / Return Rank

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

CEF

CEF Risk / Return Rank: 25
CEF Sharpe Ratio Rank: 26
CEF Sortino Ratio Rank: 18
CEF Omega Ratio Rank: 29
CEF Calmar Ratio Rank: 30
CEF Martin Ratio Rank: 20

RYPMX

RYPMX Risk / Return Rank: 34
RYPMX Sharpe Ratio Rank: 38
RYPMX Sortino Ratio Rank: 26
RYPMX Omega Ratio Rank: 33
RYPMX Calmar Ratio Rank: 47
RYPMX Martin Ratio Rank: 29

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.

CEF vs. RYPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Gold and Silver Trust (CEF) and Rydex Precious Metals Fund (RYPMX). 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.

	CEF	RYPMX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.77	-0.31
Sortino ratio: Return per unit of downside risk	1.79	2.11	-0.32
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.06	2.61	-0.55
Martin ratio: Return relative to average drawdown	5.26	6.87	-1.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEF vs. RYPMX - Sharpe Ratio Comparison

The current CEF Sharpe Ratio is 1.46, which is comparable to the RYPMX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of CEF and RYPMX, 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

	CEF	RYPMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.77	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.49	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.40	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.08	+0.15

Drawdowns

CEF vs. RYPMX - Drawdown Comparison

The maximum CEF drawdown since its inception was -62.29%, smaller than the maximum RYPMX drawdown of -81.25%. Use the drawdown chart below to compare losses from any high point for CEF and RYPMX.

Drawdown Indicators

	CEF	RYPMX	Difference
Max Drawdown Largest peak-to-trough decline	-62.29%	-81.25%	+18.96%
Max Drawdown (1Y) Largest decline over 1 year	-26.77%	-30.86%	+4.09%
Max Drawdown (3Y) Largest decline over 3 years	-26.77%	-30.86%	+4.09%
Max Drawdown (5Y) Largest decline over 5 years	-26.77%	-46.46%	+19.69%
Max Drawdown (10Y) Largest decline over 10 years	-29.10%	-47.81%	+18.71%
Current Drawdown Current decline from peak	-21.75%	-22.11%	+0.36%
Average Drawdown Average peak-to-trough decline	-27.34%	-40.37%	+13.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.47%	11.71%	-1.24%

Volatility

CEF vs. RYPMX - Volatility Comparison

The current volatility for Sprott Physical Gold and Silver Trust (CEF) is 10.09%, while Rydex Precious Metals Fund (RYPMX) has a volatility of 15.04%. This indicates that CEF experiences smaller price fluctuations and is considered to be less risky than RYPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEF	RYPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.09%	15.04%	-4.95%
Volatility (6M) Calculated over the trailing 6-month period	35.14%	37.48%	-2.34%
Volatility (1Y) Calculated over the trailing 1-year period	37.84%	45.86%	-8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.26%	36.93%	-12.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.82%	37.03%	-15.21%

CEF vs. RYPMX - Expense Ratio Comparison

CEF has a 0.48% expense ratio, which is lower than RYPMX's 1.26% expense ratio.

Dividends

CEF vs. RYPMX - Dividend Comparison

CEF has not paid dividends to shareholders, while RYPMX's dividend yield for the trailing twelve months is around 2.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEF Sprott Physical Gold and Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.07%	0.09%	0.10%
RYPMX Rydex Precious Metals Fund	2.80%	3.01%	0.00%	3.51%	7.15%	6.39%	1.06%	2.08%	1.35%	5.53%	4.04%	0.58%

Frequently Asked Questions

Can I hold both CEF and RYPMX in my portfolio?

CEF and RYPMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CEF or RYPMX?

RYPMX has higher volatility (15.04%) compared to CEF (10.09%). In terms of maximum drawdown, CEF dropped -62.29% vs RYPMX's -81.25%.

Which has better risk-adjusted returns?

RYPMX currently has the higher Sharpe Ratio (1.77 vs 1.46), 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.