FESGX vs. SGOVX

Last updated Jun 5, 2026

FESGX (First Eagle Global Fund Class C) and SGOVX (First Eagle Overseas Fund) are both mutual funds - FESGX is a Global Allocation fund actively managed by First Eagle, while SGOVX is a Foreign Large Cap Equities fund managed by First Eagle. Over the past 10 years, FESGX returned 9.32%/yr vs 8.22%/yr for SGOVX. Their correlation of 0.90 suggests significant overlap in exposure. FESGX charges 1.86%/yr vs 1.16%/yr for SGOVX.

Performance

FESGX vs. SGOVX - Performance Comparison

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

Returns By Period

In the year-to-date period, FESGX achieves a 7.30% return, which is significantly lower than SGOVX's 9.61% return. Over the past 10 years, FESGX has outperformed SGOVX with an annualized return of 9.32%, while SGOVX has yielded a comparatively lower 8.22% annualized return.

FESGX

• 1D: -0.85%
• 1M: 1.74%
• YTD: 7.30%
• 6M: 8.75%
• 1Y: 25.20%
• 3Y*: 17.89%
• 5Y*: 9.76%
• 10Y*: 9.32%

SGOVX

• 1D: -0.92%
• 1M: 1.59%
• YTD: 9.61%
• 6M: 11.70%
• 1Y: 27.99%
• 3Y*: 18.70%
• 5Y*: 9.69%
• 10Y*: 8.22%

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

FESGX vs. SGOVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FESGX First Eagle Global Fund Class C	7.30%	30.64%	10.94%	11.92%	-7.17%	11.35%	7.50%	19.26%	-9.13%	12.62%
SGOVX First Eagle Overseas Fund	9.61%	38.69%	6.16%	10.41%	-8.07%	4.94%	6.95%	17.60%	-10.26%	14.06%

Correlation

The correlation between FESGX and SGOVX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 6, 2000	0.90

The correlation between FESGX and SGOVX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

FESGX vs. SGOVX — Risk / Return Rank

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

FESGX

FESGX Risk / Return Rank: 51
FESGX Sharpe Ratio Rank: 61
FESGX Sortino Ratio Rank: 55
FESGX Omega Ratio Rank: 57
FESGX Calmar Ratio Rank: 41
FESGX Martin Ratio Rank: 40

SGOVX

SGOVX Risk / Return Rank: 53
SGOVX Sharpe Ratio Rank: 64
SGOVX Sortino Ratio Rank: 54
SGOVX Omega Ratio Rank: 63
SGOVX Calmar Ratio Rank: 44
SGOVX Martin Ratio Rank: 40

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.

FESGX vs. SGOVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Global Fund Class C (FESGX) and First Eagle Overseas Fund (SGOVX). 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.

	FESGX	SGOVX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.36	-0.06
Sortino ratio: Return per unit of downside risk	3.10	3.09	+0.01
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	2.43	2.53	-0.10
Martin ratio: Return relative to average drawdown	8.46	8.59	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FESGX vs. SGOVX - Sharpe Ratio Comparison

The current FESGX Sharpe Ratio is 2.30, which is comparable to the SGOVX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FESGX and SGOVX, 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

	FESGX	SGOVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.36	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.82	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.72	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.88	-0.19

Drawdowns

FESGX vs. SGOVX - Drawdown Comparison

The maximum FESGX drawdown since its inception was -37.54%, which is greater than SGOVX's maximum drawdown of -35.68%. Use the drawdown chart below to compare losses from any high point for FESGX and SGOVX.

Drawdown Indicators

	FESGX	SGOVX	Difference
Max Drawdown Largest peak-to-trough decline	-37.54%	-35.68%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-11.38%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-10.58%	-11.38%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-20.00%	-21.68%	+1.68%
Max Drawdown (10Y) Largest decline over 10 years	-27.77%	-24.85%	-2.92%
Current Drawdown Current decline from peak	-3.27%	-3.78%	+0.51%
Average Drawdown Average peak-to-trough decline	-4.53%	-4.46%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	3.34%	-0.31%

Volatility

FESGX vs. SGOVX - Volatility Comparison

The current volatility for First Eagle Global Fund Class C (FESGX) is 3.01%, while First Eagle Overseas Fund (SGOVX) has a volatility of 3.50%. This indicates that FESGX experiences smaller price fluctuations and is considered to be less risky than SGOVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FESGX	SGOVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.50%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	9.17%	10.26%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	12.20%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.97%	11.89%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	11.42%	+1.08%

FESGX vs. SGOVX - Expense Ratio Comparison

FESGX has a 1.86% expense ratio, which is higher than SGOVX's 1.16% expense ratio.

Dividends

FESGX vs. SGOVX - Dividend Comparison

FESGX's dividend yield for the trailing twelve months is around 8.55%, more than SGOVX's 7.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FESGX First Eagle Global Fund Class C	8.55%	9.18%	4.84%	2.85%	4.25%	5.44%	1.61%	4.69%	5.71%	3.61%	4.48%	1.06%
SGOVX First Eagle Overseas Fund	7.73%	8.47%	8.43%	2.24%	3.62%	5.76%	0.21%	5.54%	3.05%	3.40%	3.59%	1.32%

Frequently Asked Questions

Can I hold both FESGX and SGOVX in my portfolio?

With a correlation of 0.94, FESGX and SGOVX 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, FESGX or SGOVX?

SGOVX has higher volatility (3.50%) compared to FESGX (3.01%). In terms of maximum drawdown, FESGX dropped -37.54% vs SGOVX's -35.68%.

Which has better risk-adjusted returns?

SGOVX currently has the higher Sharpe Ratio (2.36 vs 2.30), 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.