CFWAX vs. SGGDX

Last updated Apr 1, 2026

Compare and contrast key facts about Calvert Global Water Fund (CFWAX) and First Eagle Gold Fund (SGGDX).

CFWAX is managed by Calvert Research and Management. It was launched on Sep 29, 2008. SGGDX is managed by First Eagle. It was launched on Aug 30, 1993.

Performance

CFWAX vs. SGGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Global Water Fund (CFWAX) and First Eagle Gold Fund (SGGDX). The values are adjusted to include any dividend payments, if applicable.

CFWAX vs. SGGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFWAX Calvert Global Water Fund	-1.37%	14.38%	3.91%	18.34%	-19.63%	22.59%	14.79%	28.02%	-13.63%	18.88%
SGGDX First Eagle Gold Fund	2.57%	128.39%	10.32%	7.01%	-1.56%	-7.78%	29.63%	38.51%	-15.90%	8.12%

Returns By Period

In the year-to-date period, CFWAX achieves a -1.37% return, which is significantly lower than SGGDX's 2.57% return. Over the past 10 years, CFWAX has underperformed SGGDX with an annualized return of 8.44%, while SGGDX has yielded a comparatively higher 15.55% annualized return.

CFWAX

• 1D: 0.07%
• 1M: -11.15%
• YTD: -1.37%
• 6M: -1.97%
• 1Y: 12.60%
• 3Y*: 8.77%
• 5Y*: 5.11%
• 10Y*: 8.44%

SGGDX

• 1D: -0.12%
• 1M: -22.40%
• YTD: 2.57%
• 6M: 18.94%
• 1Y: 78.09%
• 3Y*: 35.63%
• 5Y*: 22.59%
• 10Y*: 15.55%

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

CFWAX vs. SGGDX - Expense Ratio Comparison

CFWAX has a 1.24% expense ratio, which is higher than SGGDX's 1.19% expense ratio.

CFWAX

Calvert Global Water Fund

SGGDX

First Eagle Gold Fund

Return for Risk

CFWAX vs. SGGDX — Risk / Return Rank

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

CFWAX

CFWAX Risk / Return Rank: 33
CFWAX Sharpe Ratio Rank: 36
CFWAX Sortino Ratio Rank: 37
CFWAX Omega Ratio Rank: 29
CFWAX Calmar Ratio Rank: 30
CFWAX Martin Ratio Rank: 31

SGGDX

SGGDX Risk / Return Rank: 90
SGGDX Sharpe Ratio Rank: 93
SGGDX Sortino Ratio Rank: 87
SGGDX Omega Ratio Rank: 86
SGGDX Calmar Ratio Rank: 93
SGGDX Martin Ratio Rank: 92

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.

CFWAX vs. SGGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Global Water Fund (CFWAX) and First Eagle Gold Fund (SGGDX). 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.

	CFWAX	SGGDX	Difference
Sharpe ratio Return per unit of total volatility	0.79	2.06	-1.27
Sortino ratio Return per unit of downside risk	1.21	2.32	-1.11
Omega ratio Gain probability vs. loss probability	1.15	1.35	-0.20
Calmar ratio Return relative to maximum drawdown	0.87	2.96	-2.09
Martin ratio Return relative to average drawdown	3.32	10.93	-7.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFWAX vs. SGGDX - Sharpe Ratio Comparison

The current CFWAX Sharpe Ratio is 0.79, which is lower than the SGGDX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of CFWAX and SGGDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CFWAX	SGGDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	2.06	-1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.81	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.57	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.29	+0.09

Correlation

The correlation between CFWAX and SGGDX is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CFWAX vs. SGGDX - Dividend Comparison

CFWAX's dividend yield for the trailing twelve months is around 4.84%, more than SGGDX's 1.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFWAX Calvert Global Water Fund	4.84%	4.77%	9.25%	2.57%	1.47%	0.93%	0.77%	0.83%	1.30%	0.93%	0.00%	0.03%
SGGDX First Eagle Gold Fund	1.05%	1.08%	5.26%	0.87%	0.00%	0.96%	1.25%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CFWAX vs. SGGDX - Drawdown Comparison

The maximum CFWAX drawdown since its inception was -39.67%, smaller than the maximum SGGDX drawdown of -70.69%. Use the drawdown chart below to compare losses from any high point for CFWAX and SGGDX.

Drawdown Indicators

	CFWAX	SGGDX	Difference
Max Drawdown Largest peak-to-trough decline	-39.67%	-70.69%	+31.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-26.67%	+13.88%
Max Drawdown (5Y) Largest decline over 5 years	-29.17%	-34.02%	+4.85%
Max Drawdown (10Y) Largest decline over 10 years	-36.25%	-42.16%	+5.91%
Current Drawdown Current decline from peak	-11.96%	-22.75%	+10.79%
Average Drawdown Average peak-to-trough decline	-7.98%	-29.49%	+21.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	7.21%	-3.87%

Volatility

CFWAX vs. SGGDX - Volatility Comparison

The current volatility for Calvert Global Water Fund (CFWAX) is 5.35%, while First Eagle Gold Fund (SGGDX) has a volatility of 13.90%. This indicates that CFWAX experiences smaller price fluctuations and is considered to be less risky than SGGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFWAX	SGGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	13.90%	-8.55%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	32.50%	-22.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	38.59%	-23.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	28.10%	-12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	27.14%	-10.28%