FGADX vs. EKWAX

Last updated Jun 24, 2026

FGADX (Franklin Gold and Precious Metals Fund Advisor Class) and EKWAX (Allspring Precious Metals Fund) are both mutual funds - FGADX is a Gold fund actively managed by Franklin Templeton, while EKWAX is a Precious Metals fund managed by Allspring Global Investments. Over the past 10 years, FGADX returned 14.40%/yr vs 13.51%/yr for EKWAX. Their correlation of 0.95 suggests significant overlap in exposure. FGADX charges 0.62%/yr vs 1.09%/yr for EKWAX.

Performance

FGADX vs. EKWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Gold and Precious Metals Fund Advisor Class (FGADX) and Allspring Precious Metals Fund (EKWAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGADX achieves a -1.74% return, which is significantly higher than EKWAX's -4.43% return. Over the past 10 years, FGADX has outperformed EKWAX with an annualized return of 14.40%, while EKWAX has yielded a comparatively lower 13.51% annualized return.

FGADX

• 1D: -1.39%
• 1M: -4.19%
• YTD: -1.74%
• 6M: -5.45%
• 1Y: 75.31%
• 3Y*: 52.76%
• 5Y*: 22.03%
• 10Y*: 14.40%

EKWAX

• 1D: -1.50%
• 1M: -3.90%
• YTD: -4.43%
• 6M: -8.88%
• 1Y: 55.66%
• 3Y*: 46.73%
• 5Y*: 24.40%
• 10Y*: 13.51%

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

FGADX vs. EKWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGADX Franklin Gold and Precious Metals Fund Advisor Class	-1.74%	197.29%	17.98%	2.20%	-23.24%	-3.76%	44.60%	51.87%	-17.89%	0.06%
EKWAX Allspring Precious Metals Fund	-4.43%	163.65%	21.28%	8.83%	-7.75%	-11.00%	24.40%	40.35%	-12.83%	9.66%

Correlation

The correlation between FGADX and EKWAX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 16, 1998	0.95

The correlation between FGADX and EKWAX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FGADX vs. EKWAX — Risk / Return Rank

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

FGADX

FGADX Risk / Return Rank: 35
FGADX Sharpe Ratio Rank: 42
FGADX Sortino Ratio Rank: 30
FGADX Omega Ratio Rank: 36
FGADX Calmar Ratio Rank: 38
FGADX Martin Ratio Rank: 28

EKWAX

EKWAX Risk / Return Rank: 21
EKWAX Sharpe Ratio Rank: 23
EKWAX Sortino Ratio Rank: 18
EKWAX Omega Ratio Rank: 23
EKWAX Calmar Ratio Rank: 22
EKWAX Martin Ratio Rank: 18

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.

FGADX vs. EKWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Gold and Precious Metals Fund Advisor Class (FGADX) and Allspring Precious Metals Fund (EKWAX). 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.

	FGADX	EKWAX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.27	+0.48
Sortino ratio: Return per unit of downside risk	2.12	1.68	+0.44
Omega ratio: Gain probability vs. loss probability	1.29	1.23	+0.06
Calmar ratio: Return relative to maximum drawdown	2.22	1.62	+0.60
Martin ratio: Return relative to average drawdown	6.11	4.46	+1.65

FGADX vs. EKWAX - Sharpe Ratio Comparison

The current FGADX Sharpe Ratio is 1.75, which is higher than the EKWAX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FGADX and EKWAX, 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

FGADX vs. EKWAX - Drawdown Comparison

The maximum FGADX drawdown since its inception was -78.57%, roughly equal to the maximum EKWAX drawdown of -76.76%. Use the drawdown chart below to compare losses from any high point for FGADX and EKWAX.

Drawdown Indicators

	FGADX	EKWAX	Difference
Max Drawdown Largest peak-to-trough decline	-78.57%	-76.76%	-1.81%
Max Drawdown (1Y) Largest decline over 1 year	-34.73%	-35.67%	+0.94%
Max Drawdown (3Y) Largest decline over 3 years	-34.73%	-35.67%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-48.77%	-42.79%	-5.98%
Max Drawdown (10Y) Largest decline over 10 years	-49.27%	-49.23%	-0.04%
Current Drawdown Current decline from peak	-27.00%	-28.93%	+1.93%
Average Drawdown Average peak-to-trough decline	-34.70%	-32.76%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	12.91%	-0.32%

Volatility

FGADX vs. EKWAX - Volatility Comparison

Franklin Gold and Precious Metals Fund Advisor Class (FGADX) and Allspring Precious Metals Fund (EKWAX) have volatilities of 16.59% and 16.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGADX	EKWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.59%	16.91%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	37.74%	38.25%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	44.23%	45.62%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.18%	33.97%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.05%	33.34%	-0.29%

FGADX vs. EKWAX - Expense Ratio Comparison

FGADX has a 0.62% expense ratio, which is lower than EKWAX's 1.09% expense ratio.

Dividends

FGADX vs. EKWAX - Dividend Comparison

FGADX's dividend yield for the trailing twelve months is around 9.99%, more than EKWAX's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EKWAX Allspring Precious Metals Fund	1.25%	1.19%	0.84%	0.00%	2.01%	1.35%	1.45%	0.11%	0.00%	1.34%	1.11%
FGADX Franklin Gold and Precious Metals Fund Advisor Class	9.99%	9.81%	12.51%	3.09%	0.00%	8.83%	10.06%	0.00%	0.00%	0.62%	8.38%

Frequently Asked Questions

Can I hold both FGADX and EKWAX in my portfolio?

With a correlation of 0.95, FGADX and EKWAX 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, FGADX or EKWAX?

EKWAX has higher volatility (16.91%) compared to FGADX (16.59%). In terms of maximum drawdown, FGADX dropped -78.57% vs EKWAX's -76.76%.

Which has better risk-adjusted returns?

FGADX currently has the higher Sharpe Ratio (1.75 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.