EKWAX vs. FGADX

Last updated Jun 24, 2026

EKWAX (Allspring Precious Metals Fund) and FGADX (Franklin Gold and Precious Metals Fund Advisor Class) are both mutual funds - EKWAX is a Precious Metals fund managed by Allspring Global Investments, while FGADX is a Gold fund actively managed by Franklin Templeton. Over the past 10 years, EKWAX returned 13.51%/yr vs 14.40%/yr for FGADX. Their correlation of 0.95 suggests significant overlap in exposure. EKWAX charges 1.09%/yr vs 0.62%/yr for FGADX.

Performance

EKWAX vs. FGADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Precious Metals Fund (EKWAX) and Franklin Gold and Precious Metals Fund Advisor Class (FGADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EKWAX achieves a -4.43% return, which is significantly lower than FGADX's -1.74% return. Over the past 10 years, EKWAX has underperformed FGADX with an annualized return of 13.51%, while FGADX has yielded a comparatively higher 14.40% annualized return.

EKWAX

• 1D: -1.50%
• 1M: -3.90%
• YTD: -4.43%
• 6M: -8.88%
• 1Y: 55.66%
• 3Y*: 46.73%
• 5Y*: 24.40%
• 10Y*: 13.51%

FGADX

• 1D: -1.39%
• 1M: -4.19%
• YTD: -1.74%
• 6M: -5.45%
• 1Y: 75.31%
• 3Y*: 52.76%
• 5Y*: 22.03%
• 10Y*: 14.40%

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

EKWAX vs. FGADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EKWAX Allspring Precious Metals Fund	-4.43%	163.65%	21.28%	8.83%	-7.75%	-11.00%	24.40%	40.35%	-12.83%	9.66%
FGADX Franklin Gold and Precious Metals Fund Advisor Class	-1.74%	197.29%	17.98%	2.20%	-23.24%	-3.76%	44.60%	51.87%	-17.89%	0.06%

Correlation

The correlation between EKWAX and FGADX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 16, 1998	0.95

The correlation between EKWAX and FGADX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

EKWAX vs. FGADX — Risk / Return Rank

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

EKWAX

EKWAX Risk / Return Rank: 21
EKWAX Sharpe Ratio Rank: 23
EKWAX Sortino Ratio Rank: 18
EKWAX Omega Ratio Rank: 23
EKWAX Calmar Ratio Rank: 22
EKWAX Martin Ratio Rank: 18

FGADX

FGADX Risk / Return Rank: 35
FGADX Sharpe Ratio Rank: 42
FGADX Sortino Ratio Rank: 30
FGADX Omega Ratio Rank: 36
FGADX Calmar Ratio Rank: 38
FGADX Martin Ratio Rank: 28

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.

EKWAX vs. FGADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Precious Metals Fund (EKWAX) and Franklin Gold and Precious Metals Fund Advisor Class (FGADX). 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.

	EKWAX	FGADX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.75	-0.48
Sortino ratio: Return per unit of downside risk	1.68	2.12	-0.44
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.62	2.22	-0.60
Martin ratio: Return relative to average drawdown	4.46	6.11	-1.65

EKWAX vs. FGADX - Sharpe Ratio Comparison

The current EKWAX Sharpe Ratio is 1.27, which is comparable to the FGADX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of EKWAX and FGADX, 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

EKWAX vs. FGADX - Drawdown Comparison

The maximum EKWAX drawdown since its inception was -76.76%, roughly equal to the maximum FGADX drawdown of -78.57%. Use the drawdown chart below to compare losses from any high point for EKWAX and FGADX.

Drawdown Indicators

	EKWAX	FGADX	Difference
Max Drawdown Largest peak-to-trough decline	-76.76%	-78.57%	+1.81%
Max Drawdown (1Y) Largest decline over 1 year	-35.67%	-34.73%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-35.67%	-34.73%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	-42.79%	-48.77%	+5.98%
Max Drawdown (10Y) Largest decline over 10 years	-49.23%	-49.27%	+0.04%
Current Drawdown Current decline from peak	-28.93%	-27.00%	-1.93%
Average Drawdown Average peak-to-trough decline	-32.76%	-34.70%	+1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.91%	12.59%	+0.32%

Volatility

EKWAX vs. FGADX - Volatility Comparison

Allspring Precious Metals Fund (EKWAX) and Franklin Gold and Precious Metals Fund Advisor Class (FGADX) have volatilities of 16.91% and 16.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EKWAX	FGADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.91%	16.59%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	38.25%	37.74%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	45.62%	44.23%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.97%	34.18%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.34%	33.05%	+0.29%

EKWAX vs. FGADX - Expense Ratio Comparison

EKWAX has a 1.09% expense ratio, which is higher than FGADX's 0.62% expense ratio.

Dividends

EKWAX vs. FGADX - Dividend Comparison

EKWAX's dividend yield for the trailing twelve months is around 1.25%, less than FGADX's 9.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EKWAX Allspring Precious Metals Fund	1.25%	1.19%	0.84%	0.00%	2.01%	1.35%	1.45%	0.11%	0.00%	1.34%	1.11%
FGADX Franklin Gold and Precious Metals Fund Advisor Class	9.99%	9.81%	12.51%	3.09%	0.00%	8.83%	10.06%	0.00%	0.00%	0.62%	8.38%

Frequently Asked Questions

Can I hold both EKWAX and FGADX in my portfolio?

With a correlation of 0.95, EKWAX and FGADX 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.

Which is riskier, EKWAX or FGADX?

EKWAX has higher volatility (16.91%) compared to FGADX (16.59%). In terms of maximum drawdown, EKWAX dropped -76.76% vs FGADX's -78.57%.

Which has better risk-adjusted returns?

FGADX currently has the higher Sharpe Ratio (1.75 vs 1.27), 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.