FEURX vs. MIDSX
FEURX (First Eagle Gold Fund Class R6) and MIDSX (Midas Fund) are both mutual funds - FEURX is a Gold fund actively managed by First Eagle, while MIDSX is a Precious Metals fund managed by Midas. Over the past 5 years, FEURX returned 20.38%/yr vs 20.01%/yr for MIDSX. Their correlation of 0.92 suggests significant overlap in exposure. FEURX charges 0.81%/yr vs 4.25%/yr for MIDSX.
Performance
FEURX vs. MIDSX - Performance Comparison
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Returns By Period
In the year-to-date period, FEURX achieves a -2.96% return, which is significantly lower than MIDSX's -0.86% return.
FEURX
- 1D
- -1.12%
- 1M
- -5.21%
- YTD
- -2.96%
- 6M
- -6.97%
- 1Y
- 49.24%
- 3Y*
- 37.18%
- 5Y*
- 20.38%
- 10Y*
- —
MIDSX
- 1D
- -0.29%
- 1M
- -5.21%
- YTD
- -0.86%
- 6M
- -5.72%
- 1Y
- 63.21%
- 3Y*
- 46.08%
- 5Y*
- 20.01%
- 10Y*
- 9.79%
FEURX vs. MIDSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEURX First Eagle Gold Fund Class R6 | -2.96% | 129.09% | 10.69% | 7.37% | -1.26% | -7.42% | 30.08% | 38.92% | -15.55% | -1.36% |
MIDSX Midas Fund | -0.86% | 195.76% | 7.27% | -1.79% | -11.11% | -19.23% | 10.64% | 30.56% | -12.90% | -1.59% |
Correlation
The correlation between FEURX and MIDSX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2017 | 0.92 |
The correlation between FEURX and MIDSX has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
FEURX vs. MIDSX — Risk / Return Rank
FEURX
MIDSX
FEURX vs. MIDSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Eagle Gold Fund Class R6 (FEURX) and Midas Fund (MIDSX). 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.
| FEURX | MIDSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.71 | -0.16 |
| Martin ratioReturn relative to average drawdown | 4.26 | 4.99 | -0.73 |
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Drawdowns
FEURX vs. MIDSX - Drawdown Comparison
The maximum FEURX drawdown since its inception was -36.99%, smaller than the maximum MIDSX drawdown of -89.77%. Use the drawdown chart below to compare losses from any high point for FEURX and MIDSX.
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Drawdown Indicators
| FEURX | MIDSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -89.77% | +52.78% |
Max Drawdown (1Y)Largest decline over 1 year | -32.34% | -37.99% | +5.65% |
Max Drawdown (3Y)Largest decline over 3 years | -32.34% | -37.99% | +5.65% |
Max Drawdown (5Y)Largest decline over 5 years | -33.93% | -43.33% | +9.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.07% | — |
Current DrawdownCurrent decline from peak | -26.96% | -42.94% | +15.98% |
Average DrawdownAverage peak-to-trough decline | -12.78% | -63.48% | +50.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.81% | 13.02% | -1.21% |
Volatility
FEURX vs. MIDSX - Volatility Comparison
The current volatility for First Eagle Gold Fund Class R6 (FEURX) is 13.39%, while Midas Fund (MIDSX) has a volatility of 17.82%. This indicates that FEURX experiences smaller price fluctuations and is considered to be less risky than MIDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEURX | MIDSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.39% | 17.82% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 34.11% | 39.39% | -5.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.83% | 46.22% | -6.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.12% | 35.04% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.20% | 33.61% | -6.41% |
FEURX vs. MIDSX - Expense Ratio Comparison
FEURX has a 0.81% expense ratio, which is lower than MIDSX's 4.25% expense ratio.
Dividends
FEURX vs. MIDSX - Dividend Comparison
FEURX's dividend yield for the trailing twelve months is around 1.29%, while MIDSX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FEURX First Eagle Gold Fund Class R6 | 1.29% | 1.26% | 5.39% | 1.17% | 0.00% | 1.30% | 1.53% | 0.16% |
MIDSX Midas Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, FEURX and MIDSX 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.
MIDSX has higher volatility (17.82%) compared to FEURX (13.39%). In terms of maximum drawdown, FEURX dropped -36.99% vs MIDSX's -89.77%.
MIDSX currently has the higher Sharpe Ratio (1.41 vs 1.27), 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.
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