EPGIX vs. GLD

Last updated Aug 1, 2026

EPGIX (EuroPac Gold Fund Class I) and GLD (SPDR Gold Shares) are both Gold funds. Over the past 5 years, EPGIX returned 13.61%/yr vs 16.95%/yr for GLD. Their 0.76 correlation means they have sometimes moved together and sometimes differently. EPGIX charges 1.12%/yr vs 0.40%/yr for GLD.

Performance

EPGIX vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EuroPac Gold Fund Class I (EPGIX) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPGIX achieves a -6.81% return, which is significantly lower than GLD's -6.25% return.

EPGIX

• 1D: 3.39%
• 1M: -3.22%
• 6M: -15.40%
• YTD: -6.81%
• 1Y: 44.01%
• 3Y*: 30.15%
• 5Y*: 13.61%
• 10Y*: —
• ALL TIME*: 17.18%

GLD

• 1D: -1.49%
• 1M: -1.74%
• 6M: -16.50%
• YTD: -6.25%
• 1Y: 20.20%
• 3Y*: 27.22%
• 5Y*: 16.95%
• 10Y*: 11.05%
• ALL TIME*: 10.28%

*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)
EPGIX EuroPac Gold Fund Class I	$0.00	$0.00	$0.00
GLD SPDR Gold Shares	$2.38B	$2.40B	$2.72B

EPGIX vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EPGIX EuroPac Gold Fund Class I	-6.81%	129.72%	8.80%	2.51%	-13.84%	-17.82%	37.43%	37.47%	5.95%
GLD SPDR Gold Shares	-6.25%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	4.82%

Correlation

The correlation between EPGIX and GLD is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Nov 20, 2018	0.76

The correlation between EPGIX and GLD has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

EPGIX vs. GLD — Risk / Return Rank

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

EPGIX

EPGIX Risk / Return Rank: 31
EPGIX Sharpe Ratio Rank: 35
EPGIX Sortino Ratio Rank: 31
EPGIX Omega Ratio Rank: 37
EPGIX Calmar Ratio Rank: 30
EPGIX Martin Ratio Rank: 21

GLD

GLD Risk / Return Rank: 30
GLD Sharpe Ratio Rank: 33
GLD Sortino Ratio Rank: 31
GLD Omega Ratio Rank: 35
GLD Calmar Ratio Rank: 27
GLD Martin Ratio Rank: 24

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.

EPGIX vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EuroPac Gold Fund Class I (EPGIX) and SPDR Gold Shares (GLD). 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.

	EPGIX	GLD	Difference
Sharpe ratio: Return per unit of total volatility	1.11	0.81	+0.30
Sortino ratio: Return per unit of downside risk	1.51	1.16	+0.35
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.35	0.86	+0.48
Martin ratio: Return relative to average drawdown	2.97	1.86	+1.11

EPGIX vs. GLD - Sharpe Ratio Comparison

The current EPGIX Sharpe Ratio is 1.11, which is higher than the GLD Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of EPGIX and GLD, 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

EPGIX vs. GLD - Drawdown Comparison

The maximum EPGIX drawdown since its inception was -50.71%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for EPGIX and GLD.

Drawdown Indicators

	EPGIX	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-50.71%	-45.56%	-5.15%
Max Drawdown (1Y) Largest decline over 1 year	-33.57%	-26.40%	-7.17%
Max Drawdown (3Y) Largest decline over 3 years	-33.57%	-26.40%	-7.17%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	-26.40%	-18.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.40%	—
Current Drawdown Current decline from peak	-28.96%	-25.08%	-3.88%
Average Drawdown Average peak-to-trough decline	-18.78%	-16.21%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.18%	12.18%	+3.00%

Volatility

EPGIX vs. GLD - Volatility Comparison

EuroPac Gold Fund Class I (EPGIX) has a higher volatility of 9.83% compared to SPDR Gold Shares (GLD) at 6.40%. This indicates that EPGIX's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPGIX	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.83%	6.40%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	34.19%	23.52%	+10.67%
Volatility (1Y) Calculated over the trailing 1-year period	40.95%	28.13%	+12.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.01%	18.49%	+14.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.00%	16.14%	+17.86%

EPGIX vs. GLD - Expense Ratio Comparison

EPGIX has a 1.12% expense ratio, which is higher than GLD's 0.40% expense ratio.

Dividends

EPGIX vs. GLD - Dividend Comparison

EPGIX's dividend yield for the trailing twelve months is around 7.47%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
EPGIX EuroPac Gold Fund Class I	7.47%	6.96%	10.56%	0.00%	0.00%	2.76%	8.83%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPGIX and GLD in my portfolio?

EPGIX and GLD have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPGIX or GLD?

EPGIX has higher volatility (9.83%) compared to GLD (6.40%). In terms of maximum drawdown, EPGIX dropped -50.71% vs GLD's -45.56%.

Which has better risk-adjusted returns?

EPGIX currently has the higher Sharpe Ratio (1.11 vs 0.81), 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.