FEGOX vs. BGEIX

Last updated Jun 5, 2026

FEGOX (First Eagle Gold Fund Class C) and BGEIX (American Century Global Gold Fund) are both Precious Metals funds. Over the past 10 years, FEGOX returned 12.72%/yr vs 13.55%/yr for BGEIX. With a 0.97 correlation, they move nearly in lockstep. FEGOX charges 1.91%/yr vs 0.65%/yr for BGEIX.

Performance

FEGOX vs. BGEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Gold Fund Class C (FEGOX) and American Century Global Gold Fund (BGEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEGOX achieves a 1.25% return, which is significantly higher than BGEIX's -0.94% return. Over the past 10 years, FEGOX has underperformed BGEIX with an annualized return of 12.72%, while BGEIX has yielded a comparatively higher 13.55% annualized return.

FEGOX

• 1D: -2.35%
• 1M: -1.55%
• YTD: 1.25%
• 6M: 8.34%
• 1Y: 52.87%
• 3Y*: 35.72%
• 5Y*: 18.08%
• 10Y*: 12.72%

BGEIX

• 1D: -3.00%
• 1M: -1.32%
• YTD: -0.94%
• 6M: 5.85%
• 1Y: 60.07%
• 3Y*: 42.79%
• 5Y*: 18.55%
• 10Y*: 13.55%

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

FEGOX vs. BGEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEGOX First Eagle Gold Fund Class C	1.25%	126.68%	9.47%	6.26%	-2.33%	-8.41%	28.65%	37.47%	-16.58%	7.37%
BGEIX American Century Global Gold Fund	-0.94%	158.45%	15.10%	7.52%	-12.54%	-8.85%	18.92%	37.82%	-7.43%	10.62%

Correlation

The correlation between FEGOX and BGEIX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 16, 2003	0.97

The correlation between FEGOX and BGEIX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FEGOX vs. BGEIX — Risk / Return Rank

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

FEGOX

FEGOX Risk / Return Rank: 24
FEGOX Sharpe Ratio Rank: 25
FEGOX Sortino Ratio Rank: 19
FEGOX Omega Ratio Rank: 26
FEGOX Calmar Ratio Rank: 30
FEGOX Martin Ratio Rank: 21

BGEIX

BGEIX Risk / Return Rank: 23
BGEIX Sharpe Ratio Rank: 25
BGEIX Sortino Ratio Rank: 19
BGEIX Omega Ratio Rank: 24
BGEIX Calmar Ratio Rank: 29
BGEIX Martin Ratio Rank: 20

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.

FEGOX vs. BGEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Gold Fund Class C (FEGOX) and American Century Global Gold Fund (BGEIX). 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.

	FEGOX	BGEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.43	-0.01
Sortino ratio: Return per unit of downside risk	1.78	1.83	-0.05
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.02	1.99	+0.04
Martin ratio: Return relative to average drawdown	5.20	5.20	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEGOX vs. BGEIX - Sharpe Ratio Comparison

The current FEGOX Sharpe Ratio is 1.41, which is comparable to the BGEIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FEGOX and BGEIX, 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

	FEGOX	BGEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.43	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.55	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.41	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.16	+0.14

Drawdowns

FEGOX vs. BGEIX - Drawdown Comparison

The maximum FEGOX drawdown since its inception was -71.67%, smaller than the maximum BGEIX drawdown of -78.69%. Use the drawdown chart below to compare losses from any high point for FEGOX and BGEIX.

Drawdown Indicators

	FEGOX	BGEIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.67%	-78.69%	+7.02%
Max Drawdown (1Y) Largest decline over 1 year	-26.69%	-30.55%	+3.86%
Max Drawdown (3Y) Largest decline over 3 years	-26.69%	-30.55%	+3.86%
Max Drawdown (5Y) Largest decline over 5 years	-34.24%	-46.62%	+12.38%
Max Drawdown (10Y) Largest decline over 10 years	-43.08%	-51.92%	+8.84%
Current Drawdown Current decline from peak	-23.65%	-26.02%	+2.37%
Average Drawdown Average peak-to-trough decline	-31.32%	-35.15%	+3.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.38%	11.66%	-1.28%

Volatility

FEGOX vs. BGEIX - Volatility Comparison

The current volatility for First Eagle Gold Fund Class C (FEGOX) is 11.81%, while American Century Global Gold Fund (BGEIX) has a volatility of 14.11%. This indicates that FEGOX experiences smaller price fluctuations and is considered to be less risky than BGEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEGOX	BGEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	14.11%	-2.30%
Volatility (6M) Calculated over the trailing 6-month period	32.37%	35.11%	-2.74%
Volatility (1Y) Calculated over the trailing 1-year period	38.26%	42.55%	-4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.75%	33.61%	-4.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.18%	33.26%	-6.08%

FEGOX vs. BGEIX - Expense Ratio Comparison

FEGOX has a 1.91% expense ratio, which is higher than BGEIX's 0.65% expense ratio.

Dividends

FEGOX vs. BGEIX - Dividend Comparison

FEGOX's dividend yield for the trailing twelve months is around 0.69%, less than BGEIX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BGEIX American Century Global Gold Fund	0.85%	0.85%	1.36%	1.56%	1.38%	2.13%	0.56%	0.87%	0.00%	0.00%	10.56%
FEGOX First Eagle Gold Fund Class C	0.69%	0.70%	5.05%	0.22%	0.00%	0.24%	0.76%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEGOX and BGEIX in my portfolio?

With a correlation of 0.98, FEGOX and BGEIX 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, FEGOX or BGEIX?

BGEIX has higher volatility (14.11%) compared to FEGOX (11.81%). In terms of maximum drawdown, FEGOX dropped -71.67% vs BGEIX's -78.69%.

Which has better risk-adjusted returns?

BGEIX currently has the higher Sharpe Ratio (1.43 vs 1.41), 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.