EKWAX vs. SGDIX

Last updated Aug 4, 2026

EKWAX (Allspring Precious Metals Fund) and SGDIX (Sprott Gold Equity Fund Institutional Class) are both mutual funds - EKWAX is a Precious Metals fund managed by Allspring, while SGDIX is a Gold fund actively managed by Sprott. Over the past 5 years, EKWAX returned 21.84%/yr vs 18.10%/yr for SGDIX. Their 0.97 correlation means they have historically moved very closely together. EKWAX charges 1.09%/yr vs 1.17%/yr for SGDIX.

Performance

EKWAX vs. SGDIX - Performance Comparison

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

Returns By Period

In the year-to-date period, EKWAX achieves a -12.00% return, which is significantly lower than SGDIX's -9.66% return.

EKWAX

• 1D: -3.19%
• 1M: -5.94%
• 6M: -18.62%
• YTD: -12.00%
• 1Y: 47.54%
• 3Y*: 42.45%
• 5Y*: 21.84%
• 10Y*: 10.94%
• ALL TIME*: 10.48%

SGDIX

• 1D: -2.17%
• 1M: -5.07%
• 6M: -16.02%
• YTD: -9.66%
• 1Y: 54.61%
• 3Y*: 40.61%
• 5Y*: 18.10%
• 10Y*: —
• ALL TIME*: 17.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EKWAX Allspring Precious Metals Fund	$0.00	$0.00	$0.00
SGDIX Sprott Gold Equity Fund Institutional Class	$0.00	$0.00	$0.00

EKWAX vs. SGDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EKWAX Allspring Precious Metals Fund	-12.00%	163.65%	21.28%	8.83%	-7.75%	-11.00%	27.65%
SGDIX Sprott Gold Equity Fund Institutional Class	-9.66%	148.38%	20.90%	2.23%	-12.96%	-11.55%	35.67%

Correlation

The correlation between EKWAX and SGDIX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jan 17, 2020	0.97

The correlation between EKWAX and SGDIX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

EKWAX vs. SGDIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EKWAX

EKWAX Risk / Return Rank: 27
EKWAX Sharpe Ratio Rank: 30
EKWAX Sortino Ratio Rank: 28
EKWAX Omega Ratio Rank: 31
EKWAX Calmar Ratio Rank: 27
EKWAX Martin Ratio Rank: 20

SGDIX

SGDIX Risk / Return Rank: 34
SGDIX Sharpe Ratio Rank: 39
SGDIX Sortino Ratio Rank: 34
SGDIX Omega Ratio Rank: 38
SGDIX Calmar Ratio Rank: 35
SGDIX Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EKWAX vs. SGDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Precious Metals Fund (EKWAX) and Sprott Gold Equity Fund Institutional Class (SGDIX). 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	SGDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.30	-0.23
Sortino ratio: Return per unit of downside risk	1.52	1.72	-0.20
Omega ratio: Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio: Return relative to maximum drawdown	1.34	1.60	-0.26
Martin ratio: Return relative to average drawdown	2.92	3.43	-0.50

EKWAX vs. SGDIX - Sharpe Ratio Comparison

The current EKWAX Sharpe Ratio is 1.07, which is comparable to the SGDIX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of EKWAX and SGDIX, 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. SGDIX - Drawdown Comparison

The maximum EKWAX drawdown since its inception was -76.76%, which is greater than SGDIX's maximum drawdown of -47.27%. Use the drawdown chart below to compare losses from any high point for EKWAX and SGDIX.

Drawdown Indicators

	EKWAX	SGDIX	Difference
Max Drawdown Largest peak-to-trough decline	-76.76%	-47.27%	-29.49%
Max Drawdown (1Y) Largest decline over 1 year	-37.42%	-35.40%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-37.42%	-35.40%	-2.02%
Max Drawdown (5Y) Largest decline over 5 years	-42.79%	-42.90%	+0.11%
Max Drawdown (10Y) Largest decline over 10 years	-49.23%	—	—
Current Drawdown Current decline from peak	-34.56%	-31.99%	-2.57%
Average Drawdown Average peak-to-trough decline	-32.76%	-18.27%	-14.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.11%	16.52%	+0.59%

Volatility

EKWAX vs. SGDIX - Volatility Comparison

Allspring Precious Metals Fund (EKWAX) has a higher volatility of 12.93% compared to Sprott Gold Equity Fund Institutional Class (SGDIX) at 12.05%. This indicates that EKWAX's price experiences larger fluctuations and is considered to be riskier than SGDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EKWAX	SGDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.93%	12.05%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	38.65%	36.45%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	46.82%	43.56%	+3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.43%	32.47%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.39%	34.29%	-0.90%

EKWAX vs. SGDIX - Expense Ratio Comparison

EKWAX has a 1.09% expense ratio, which is lower than SGDIX's 1.17% expense ratio.

Dividends

EKWAX vs. SGDIX - Dividend Comparison

EKWAX's dividend yield for the trailing twelve months is around 1.36%, more than SGDIX's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EKWAX Allspring Precious Metals Fund	1.36%	1.19%	0.84%	0.00%	2.01%	1.35%	1.45%	0.11%	0.00%	1.34%	1.11%
SGDIX Sprott Gold Equity Fund Institutional Class	0.73%	0.66%	0.00%	0.00%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EKWAX and SGDIX in my portfolio?

With a correlation of 0.97, EKWAX and SGDIX 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 SGDIX?

EKWAX has higher volatility (12.93%) compared to SGDIX (12.05%). In terms of maximum drawdown, EKWAX dropped -76.76% vs SGDIX's -47.27%.

Which has better risk-adjusted returns?

SGDIX currently has the higher Sharpe Ratio (1.30 vs 1.07), 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.