FEGIX vs. DBCMX

Last updated Jul 14, 2026

FEGIX (First Eagle Gold Fund Class I) and DBCMX (DoubleLine Strategic Commodity Fund) are both mutual funds - FEGIX is a Gold fund managed by First Eagle, while DBCMX is a Commodities fund managed by DoubleLine. Over the past 10 years, FEGIX returned 10.84%/yr vs 6.42%/yr for DBCMX. At a 0.19 correlation, their price movements are largely independent. FEGIX charges 0.96%/yr vs 1.02%/yr for DBCMX.

Performance

FEGIX vs. DBCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Gold Fund Class I (FEGIX) and DoubleLine Strategic Commodity Fund (DBCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEGIX achieves a -8.58% return, which is significantly lower than DBCMX's 23.68% return. Over the past 10 years, FEGIX has outperformed DBCMX with an annualized return of 10.84%, while DBCMX has yielded a comparatively lower 6.42% annualized return.

FEGIX

• 1D: -0.55%
• 1M: -4.26%
• 6M: -16.81%
• YTD: -8.58%
• 1Y: 41.89%
• 3Y*: 33.88%
• 5Y*: 18.71%
• 10Y*: 10.84%

DBCMX

• 1D: -0.11%
• 1M: -0.22%
• 6M: 19.87%
• YTD: 23.68%
• 1Y: 28.48%
• 3Y*: 9.18%
• 5Y*: 8.82%
• 10Y*: 6.42%

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

FEGIX vs. DBCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEGIX First Eagle Gold Fund Class I	-8.58%	128.89%	10.57%	7.24%	-1.31%	-7.54%	30.00%	38.98%	-15.69%	8.44%
DBCMX DoubleLine Strategic Commodity Fund	23.68%	6.10%	0.45%	-3.96%	13.40%	31.24%	-6.07%	4.78%	-10.65%	9.17%

Correlation

The correlation between FEGIX and DBCMX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.19

The correlation between FEGIX and DBCMX shifts across timeframes, from -0.01 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FEGIX vs. DBCMX — Risk / Return Rank

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

FEGIX

FEGIX Risk / Return Rank: 23
FEGIX Sharpe Ratio Rank: 26
FEGIX Sortino Ratio Rank: 22
FEGIX Omega Ratio Rank: 28
FEGIX Calmar Ratio Rank: 23
FEGIX Martin Ratio Rank: 17

DBCMX

DBCMX Risk / Return Rank: 71
DBCMX Sharpe Ratio Rank: 80
DBCMX Sortino Ratio Rank: 76
DBCMX Omega Ratio Rank: 73
DBCMX Calmar Ratio Rank: 65
DBCMX Martin Ratio Rank: 61

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.

FEGIX vs. DBCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Gold Fund Class I (FEGIX) and DoubleLine Strategic Commodity Fund (DBCMX). 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.

	FEGIX	DBCMX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	2.06	-0.98
Sortino ratio: Return per unit of downside risk	1.49	2.81	-1.33
Omega ratio: Gain probability vs. loss probability	1.21	1.36	-0.15
Calmar ratio: Return relative to maximum drawdown	1.34	2.46	-1.12
Martin ratio: Return relative to average drawdown	3.17	9.36	-6.19

FEGIX vs. DBCMX - Sharpe Ratio Comparison

The current FEGIX Sharpe Ratio is 1.09, which is lower than the DBCMX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FEGIX and DBCMX, 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

FEGIX vs. DBCMX - Drawdown Comparison

The maximum FEGIX drawdown since its inception was -70.38%, which is greater than DBCMX's maximum drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for FEGIX and DBCMX.

Drawdown Indicators

	FEGIX	DBCMX	Difference
Max Drawdown Largest peak-to-trough decline	-70.38%	-37.62%	-32.76%
Max Drawdown (1Y) Largest decline over 1 year	-32.64%	-11.98%	-20.66%
Max Drawdown (3Y) Largest decline over 3 years	-32.64%	-14.75%	-17.89%
Max Drawdown (5Y) Largest decline over 5 years	-33.95%	-27.60%	-6.35%
Max Drawdown (10Y) Largest decline over 10 years	-41.84%	-37.62%	-4.22%
Current Drawdown Current decline from peak	-31.18%	-7.75%	-23.43%
Average Drawdown Average peak-to-trough decline	-28.73%	-13.22%	-15.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.74%	3.15%	+10.59%

Volatility

FEGIX vs. DBCMX - Volatility Comparison

First Eagle Gold Fund Class I (FEGIX) has a higher volatility of 12.80% compared to DoubleLine Strategic Commodity Fund (DBCMX) at 4.44%. This indicates that FEGIX's price experiences larger fluctuations and is considered to be riskier than DBCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEGIX	DBCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.80%	4.44%	+8.36%
Volatility (6M) Calculated over the trailing 6-month period	34.18%	12.66%	+21.52%
Volatility (1Y) Calculated over the trailing 1-year period	40.25%	14.30%	+25.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.34%	16.29%	+13.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.43%	14.60%	+12.83%

FEGIX vs. DBCMX - Expense Ratio Comparison

FEGIX has a 0.96% expense ratio, which is lower than DBCMX's 1.02% expense ratio.

Dividends

FEGIX vs. DBCMX - Dividend Comparison

FEGIX's dividend yield for the trailing twelve months is around 1.31%, less than DBCMX's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DBCMX DoubleLine Strategic Commodity Fund	2.45%	3.04%	2.89%	3.30%	46.88%	13.53%	0.00%	1.04%	1.21%	5.23%	0.51%
FEGIX First Eagle Gold Fund Class I	1.31%	1.19%	5.31%	1.08%	0.00%	1.19%	1.48%	0.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEGIX and DBCMX in my portfolio?

FEGIX and DBCMX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEGIX or DBCMX?

FEGIX has higher volatility (12.80%) compared to DBCMX (4.44%). In terms of maximum drawdown, FEGIX dropped -70.38% vs DBCMX's -37.62%.

Which has better risk-adjusted returns?

DBCMX currently has the higher Sharpe Ratio (2.06 vs 1.09), 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.