FGDIX vs. CEF

Last updated Jun 4, 2026

FGDIX (Fidelity Advisor Gold Fund Class I) and CEF (Sprott Physical Gold and Silver Trust) are both Precious Metals funds. Over the past 10 years, FGDIX returned 12.30%/yr vs 13.80%/yr for CEF. A 0.74 correlation means they provide meaningful diversification when combined. FGDIX charges 0.76%/yr vs 0.48%/yr for CEF.

Performance

FGDIX vs. CEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Gold Fund Class I (FGDIX) and Sprott Physical Gold and Silver Trust (CEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGDIX achieves a 5.38% return, which is significantly higher than CEF's 1.16% return. Over the past 10 years, FGDIX has underperformed CEF with an annualized return of 12.30%, while CEF has yielded a comparatively higher 13.80% annualized return.

FGDIX

• 1D: 1.19%
• 1M: 3.81%
• YTD: 5.38%
• 6M: 12.25%
• 1Y: 61.65%
• 3Y*: 40.60%
• 5Y*: 16.54%
• 10Y*: 12.30%

CEF

• 1D: -1.74%
• 1M: -0.92%
• YTD: 1.16%
• 6M: 10.23%
• 1Y: 54.90%
• 3Y*: 35.48%
• 5Y*: 18.30%
• 10Y*: 13.80%

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

FGDIX vs. CEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGDIX Fidelity Advisor Gold Fund Class I	5.38%	142.97%	14.91%	-0.39%	-13.42%	-10.45%	26.84%	35.51%	-12.96%	8.59%
CEF Sprott Physical Gold and Silver Trust	1.16%	92.76%	24.07%	6.80%	1.07%	-8.32%	31.99%	16.91%	-6.34%	18.78%

Correlation

The correlation between FGDIX and CEF is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 2, 2005	0.74

The correlation between FGDIX and CEF has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

FGDIX vs. CEF — Risk / Return Rank

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

FGDIX

FGDIX Risk / Return Rank: 24
FGDIX Sharpe Ratio Rank: 26
FGDIX Sortino Ratio Rank: 19
FGDIX Omega Ratio Rank: 25
FGDIX Calmar Ratio Rank: 30
FGDIX Martin Ratio Rank: 20

CEF

CEF Risk / Return Rank: 25
CEF Sharpe Ratio Rank: 26
CEF Sortino Ratio Rank: 18
CEF Omega Ratio Rank: 29
CEF Calmar Ratio Rank: 30
CEF 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.

FGDIX vs. CEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Gold Fund Class I (FGDIX) and Sprott Physical Gold and Silver Trust (CEF). 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.

	FGDIX	CEF	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.46	-0.01
Sortino ratio: Return per unit of downside risk	1.83	1.79	+0.04
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.02
Calmar ratio: Return relative to maximum drawdown	2.07	2.06	+0.01
Martin ratio: Return relative to average drawdown	5.41	5.26	+0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGDIX vs. CEF - Sharpe Ratio Comparison

The current FGDIX Sharpe Ratio is 1.45, which is comparable to the CEF Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FGDIX and CEF, 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

	FGDIX	CEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.46	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.76	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.63	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.22	-0.07

Drawdowns

FGDIX vs. CEF - Drawdown Comparison

The maximum FGDIX drawdown since its inception was -77.15%, which is greater than CEF's maximum drawdown of -62.29%. Use the drawdown chart below to compare losses from any high point for FGDIX and CEF.

Drawdown Indicators

	FGDIX	CEF	Difference
Max Drawdown Largest peak-to-trough decline	-77.15%	-62.29%	-14.86%
Max Drawdown (1Y) Largest decline over 1 year	-29.85%	-26.77%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	-29.85%	-26.77%	-3.08%
Max Drawdown (5Y) Largest decline over 5 years	-45.94%	-26.77%	-19.17%
Max Drawdown (10Y) Largest decline over 10 years	-50.57%	-29.10%	-21.47%
Current Drawdown Current decline from peak	-22.82%	-21.75%	-1.07%
Average Drawdown Average peak-to-trough decline	-39.81%	-27.34%	-12.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.40%	10.47%	+0.93%

Volatility

FGDIX vs. CEF - Volatility Comparison

Fidelity Advisor Gold Fund Class I (FGDIX) has a higher volatility of 14.88% compared to Sprott Physical Gold and Silver Trust (CEF) at 10.09%. This indicates that FGDIX's price experiences larger fluctuations and is considered to be riskier than CEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGDIX	CEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.88%	10.09%	+4.79%
Volatility (6M) Calculated over the trailing 6-month period	35.11%	35.14%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	43.06%	37.84%	+5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.60%	24.26%	+9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.10%	21.82%	+11.28%

FGDIX vs. CEF - Expense Ratio Comparison

FGDIX has a 0.76% expense ratio, which is higher than CEF's 0.48% expense ratio.

Dividends

FGDIX vs. CEF - Dividend Comparison

FGDIX's dividend yield for the trailing twelve months is around 4.78%, while CEF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEF Sprott Physical Gold and Silver Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.07%	0.09%	0.10%
FGDIX Fidelity Advisor Gold Fund Class I	4.78%	2.10%	3.58%	0.97%	0.36%	1.59%	4.40%	0.41%	0.00%	0.23%	3.65%	0.00%

Frequently Asked Questions

Can I hold both FGDIX and CEF in my portfolio?

FGDIX and CEF have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGDIX or CEF?

FGDIX has higher volatility (14.88%) compared to CEF (10.09%). In terms of maximum drawdown, FGDIX dropped -77.15% vs CEF's -62.29%.

Which has better risk-adjusted returns?

CEF currently has the higher Sharpe Ratio (1.46 vs 1.45), 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.