EPGFX vs. SPUS

Last updated Jun 23, 2026

EPGFX (EuroPac Gold Fund) and SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) are both funds - EPGFX is a Gold fund managed by Euro Pacific Asset Management, while SPUS is a S&P 500 fund tracking the S&P 500 Shariah Industry Exclusions Index. Over the past 5 years, EPGFX returned 14.32%/yr vs 16.30%/yr for SPUS. At a 0.29 correlation, their price movements are largely independent. EPGFX charges 1.40%/yr vs 0.45%/yr for SPUS.

Performance

EPGFX vs. SPUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EuroPac Gold Fund (EPGFX) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPGFX achieves a -0.25% return, which is significantly lower than SPUS's 12.83% return.

EPGFX

• 1D: -2.43%
• 1M: -2.43%
• YTD: -0.25%
• 6M: -3.71%
• 1Y: 56.98%
• 3Y*: 33.59%
• 5Y*: 14.32%
• 10Y*: 11.24%

SPUS

• 1D: -0.09%
• 1M: 0.48%
• YTD: 12.83%
• 6M: 12.41%
• 1Y: 36.21%
• 3Y*: 22.94%
• 5Y*: 16.30%
• 10Y*: —

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

EPGFX vs. SPUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EPGFX EuroPac Gold Fund	-0.25%	129.06%	8.51%	2.31%	-14.00%	-18.06%	36.99%	8.14%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	12.83%	19.77%	26.49%	34.24%	-22.76%	35.92%	25.68%	0.95%

Correlation

The correlation between EPGFX and SPUS is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Dec 18, 2019	0.29

The correlation between EPGFX and SPUS shifts across timeframes, from 0.28 (5 years) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EPGFX vs. SPUS — Risk / Return Rank

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

EPGFX

EPGFX Risk / Return Rank: 23
EPGFX Sharpe Ratio Rank: 26
EPGFX Sortino Ratio Rank: 20
EPGFX Omega Ratio Rank: 25
EPGFX Calmar Ratio Rank: 26
EPGFX Martin Ratio Rank: 20

SPUS

SPUS Risk / Return Rank: 74
SPUS Sharpe Ratio Rank: 79
SPUS Sortino Ratio Rank: 74
SPUS Omega Ratio Rank: 75
SPUS Calmar Ratio Rank: 70
SPUS Martin Ratio Rank: 75

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.

EPGFX vs. SPUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EuroPac Gold Fund (EPGFX) and SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS). 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.

	EPGFX	SPUS	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.42	-1.06
Sortino ratio: Return per unit of downside risk	1.74	3.17	-1.43
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.77	3.41	-1.64
Martin ratio: Return relative to average drawdown	4.73	13.73	-9.00

EPGFX vs. SPUS - Sharpe Ratio Comparison

The current EPGFX Sharpe Ratio is 1.36, which is lower than the SPUS Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of EPGFX and SPUS, 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

EPGFX vs. SPUS - Drawdown Comparison

The maximum EPGFX drawdown since its inception was -56.70%, which is greater than SPUS's maximum drawdown of -30.80%. Use the drawdown chart below to compare losses from any high point for EPGFX and SPUS.

Drawdown Indicators

	EPGFX	SPUS	Difference
Max Drawdown Largest peak-to-trough decline	-56.70%	-30.80%	-25.90%
Max Drawdown (1Y) Largest decline over 1 year	-30.77%	-10.66%	-20.11%
Max Drawdown (3Y) Largest decline over 3 years	-30.77%	-22.82%	-7.95%
Max Drawdown (5Y) Largest decline over 5 years	-44.99%	-28.06%	-16.93%
Max Drawdown (10Y) Largest decline over 10 years	-51.03%	—	—
Current Drawdown Current decline from peak	-23.94%	-3.41%	-20.53%
Average Drawdown Average peak-to-trough decline	-22.03%	-6.19%	-15.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.53%	2.64%	+8.89%

Volatility

EPGFX vs. SPUS - Volatility Comparison

EuroPac Gold Fund (EPGFX) has a higher volatility of 14.28% compared to SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) at 6.34%. This indicates that EPGFX's price experiences larger fluctuations and is considered to be riskier than SPUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPGFX	SPUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.28%	6.34%	+7.94%
Volatility (6M) Calculated over the trailing 6-month period	33.79%	12.05%	+21.74%
Volatility (1Y) Calculated over the trailing 1-year period	40.25%	15.08%	+25.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.82%	19.38%	+13.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.58%	21.32%	+11.26%

EPGFX vs. SPUS - Expense Ratio Comparison

EPGFX has a 1.40% expense ratio, which is higher than SPUS's 0.45% expense ratio.

Dividends

EPGFX vs. SPUS - Dividend Comparison

EPGFX's dividend yield for the trailing twelve months is around 6.88%, more than SPUS's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EPGFX EuroPac Gold Fund	6.88%	6.86%	10.36%	0.00%	0.00%	2.49%	8.67%	0.00%	0.00%	2.56%	19.31%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	0.53%	0.60%	0.70%	0.87%	1.21%	1.15%	1.04%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPGFX and SPUS in my portfolio?

EPGFX and SPUS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPGFX or SPUS?

EPGFX has higher volatility (14.28%) compared to SPUS (6.34%). In terms of maximum drawdown, EPGFX dropped -56.70% vs SPUS's -30.80%.

Which has better risk-adjusted returns?

SPUS currently has the higher Sharpe Ratio (2.42 vs 1.36), 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.