FEGIX vs. EPGFX

Last updated Jun 3, 2026

FEGIX (First Eagle Gold Fund Class I) and EPGFX (EuroPac Gold Fund) are both Precious Metals funds. Over the past 10 years, FEGIX returned 14.01%/yr vs 12.75%/yr for EPGFX. Their correlation of 0.95 suggests significant overlap in exposure. FEGIX charges 0.96%/yr vs 1.40%/yr for EPGFX.

Performance

FEGIX vs. EPGFX - Performance Comparison

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

Returns By Period

In the year-to-date period, FEGIX achieves a 2.94% return, which is significantly lower than EPGFX's 5.82% return. Over the past 10 years, FEGIX has outperformed EPGFX with an annualized return of 14.01%, while EPGFX has yielded a comparatively lower 12.75% annualized return.

FEGIX

• 1D: -2.56%
• 1M: -1.66%
• YTD: 2.94%
• 6M: 10.06%
• 1Y: 56.80%
• 3Y*: 37.61%
• 5Y*: 19.18%
• 10Y*: 14.01%

EPGFX

• 1D: -1.92%
• 1M: 1.46%
• YTD: 5.82%
• 6M: 11.36%
• 1Y: 66.17%
• 3Y*: 35.19%
• 5Y*: 12.98%
• 10Y*: 12.75%

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

FEGIX vs. EPGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEGIX First Eagle Gold Fund Class I	2.94%	128.89%	10.57%	7.24%	-1.31%	-7.54%	30.00%	38.98%	-15.69%	8.44%
EPGFX EuroPac Gold Fund	5.82%	129.06%	8.51%	2.31%	-14.00%	-18.06%	36.99%	37.25%	-13.85%	12.73%

Correlation

The correlation between FEGIX and EPGFX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.95

The correlation between FEGIX and EPGFX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FEGIX vs. EPGFX — Risk / Return Rank

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

FEGIX

FEGIX Risk / Return Rank: 30
FEGIX Sharpe Ratio Rank: 33
FEGIX Sortino Ratio Rank: 22
FEGIX Omega Ratio Rank: 31
FEGIX Calmar Ratio Rank: 40
FEGIX Martin Ratio Rank: 25

EPGFX

EPGFX Risk / Return Rank: 37
EPGFX Sharpe Ratio Rank: 43
EPGFX Sortino Ratio Rank: 28
EPGFX Omega Ratio Rank: 37
EPGFX Calmar Ratio Rank: 46
EPGFX Martin Ratio Rank: 32

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. EPGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Gold Fund Class I (FEGIX) and EuroPac Gold Fund (EPGFX). 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.

	FEGIX	EPGFX	Difference
Sharpe ratio Return per unit of total volatility	1.68	1.93	-0.25
Sortino ratio Return per unit of downside risk	2.02	2.25	-0.23
Omega ratio Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio Return relative to maximum drawdown	2.45	2.62	-0.18
Martin ratio Return relative to average drawdown	6.44	7.49	-1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEGIX vs. EPGFX - Sharpe Ratio Comparison

The current FEGIX Sharpe Ratio is 1.68, which is comparable to the EPGFX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FEGIX and EPGFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEGIX	EPGFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.93	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.40	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.39	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.34	0.00

Drawdowns

FEGIX vs. EPGFX - Drawdown Comparison

The maximum FEGIX drawdown since its inception was -70.38%, which is greater than EPGFX's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for FEGIX and EPGFX.

Drawdown Indicators

	FEGIX	EPGFX	Difference
Max Drawdown Largest peak-to-trough decline	-70.38%	-56.70%	-13.68%
Max Drawdown (1Y) Largest decline over 1 year	-26.66%	-28.88%	+2.22%
Max Drawdown (3Y) Largest decline over 3 years	-26.66%	-28.88%	+2.22%
Max Drawdown (5Y) Largest decline over 5 years	-33.95%	-47.20%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	-41.84%	-51.03%	+9.19%
Current Drawdown Current decline from peak	-22.50%	-19.31%	-3.19%
Average Drawdown Average peak-to-trough decline	-28.74%	-22.03%	-6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.12%	10.10%	+0.02%

Volatility

FEGIX vs. EPGFX - Volatility Comparison

The current volatility for First Eagle Gold Fund Class I (FEGIX) is 11.64%, while EuroPac Gold Fund (EPGFX) has a volatility of 12.32%. This indicates that FEGIX experiences smaller price fluctuations and is considered to be less risky than EPGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEGIX	EPGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	12.32%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	32.32%	31.77%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	38.51%	38.77%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.76%	32.50%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.29%	32.52%	-5.23%

FEGIX vs. EPGFX - Expense Ratio Comparison

FEGIX has a 0.96% expense ratio, which is lower than EPGFX's 1.40% expense ratio.

Dividends

FEGIX vs. EPGFX - Dividend Comparison

FEGIX's dividend yield for the trailing twelve months is around 1.16%, less than EPGFX's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EPGFX EuroPac Gold Fund	6.48%	6.86%	10.36%	0.00%	0.00%	2.49%	8.67%	0.00%	0.00%	2.56%	19.31%
FEGIX First Eagle Gold Fund Class I	1.16%	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 EPGFX in my portfolio?

With a correlation of 0.96, FEGIX and EPGFX 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, FEGIX or EPGFX?

EPGFX has higher volatility (12.32%) compared to FEGIX (11.64%). In terms of maximum drawdown, FEGIX dropped -70.38% vs EPGFX's -56.70%.

Which has better risk-adjusted returns?

EPGFX currently has the higher Sharpe Ratio (1.93 vs 1.68), 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.