FGDL vs. GOEX
FGDL (Franklin Responsibly Sourced Gold ETF) and GOEX (Global X Gold Explorers ETF) are both Gold funds - FGDL tracks the LBMA Gold Price PM ($/ozt) while GOEX tracks the Solactive Global Gold Explorers & Developers Total Return. Both are passively managed. Over the past 3 years, FGDL returned 27.63%/yr vs 44.03%/yr for GOEX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FGDL charges 0.15%/yr vs 0.65%/yr for GOEX.
Performance
FGDL vs. GOEX - Performance Comparison
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Returns By Period
In the year-to-date period, FGDL achieves a -6.34% return, which is significantly higher than GOEX's -12.64% return.
FGDL
- 1D
- -0.15%
- 1M
- -1.51%
- 6M
- -13.15%
- YTD
- -6.34%
- 1Y
- 20.61%
- 3Y*
- 27.63%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.59%
GOEX
- 1D
- 2.59%
- 1M
- -2.72%
- 6M
- -18.57%
- YTD
- -12.64%
- 1Y
- 65.16%
- 3Y*
- 44.03%
- 5Y*
- 19.71%
- 10Y*
- 10.35%
- ALL TIME*
- 0.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $970.05K | $896.65K | $1.27M | |
| $284.88K | $369.56K | $618.57K |
FGDL vs. GOEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | -6.34% | 64.15% | 27.31% | 12.92% | 0.72% |
GOEX Global X Gold Explorers ETF | -12.64% | 179.50% | 19.38% | 1.99% | 7.89% |
Correlation
The correlation between FGDL and GOEX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.79 |
The correlation between FGDL and GOEX has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.
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Return for Risk
FGDL vs. GOEX — Risk / Return Rank
FGDL
GOEX
FGDL vs. GOEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and Global X Gold Explorers ETF (GOEX). 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.
| FGDL | GOEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.64 | -0.86 |
| Martin ratioReturn relative to average drawdown | 1.66 | 3.41 | -1.75 |
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Drawdowns
FGDL vs. GOEX - Drawdown Comparison
The maximum FGDL drawdown since its inception was -26.58%, smaller than the maximum GOEX drawdown of -88.83%. Use the drawdown chart below to compare losses from any high point for FGDL and GOEX.
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Drawdown Indicators
| FGDL | GOEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -88.83% | +62.25% |
Max Drawdown (1Y)Largest decline over 1 year | -26.58% | -39.87% | +13.29% |
Max Drawdown (3Y)Largest decline over 3 years | -26.58% | -39.87% | +13.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.66% | — |
Current DrawdownCurrent decline from peak | -25.16% | -35.53% | +10.37% |
Average DrawdownAverage peak-to-trough decline | -4.65% | -63.28% | +58.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 19.15% | -6.72% |
Volatility
FGDL vs. GOEX - Volatility Comparison
The current volatility for Franklin Responsibly Sourced Gold ETF (FGDL) is 5.87%, while Global X Gold Explorers ETF (GOEX) has a volatility of 14.73%. This indicates that FGDL experiences smaller price fluctuations and is considered to be less risky than GOEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGDL | GOEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 14.73% | -8.86% |
Volatility (6M)Calculated over the trailing 6-month period | 21.00% | 40.14% | -19.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.25% | 53.05% | -24.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.39% | 40.06% | -20.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.39% | 40.16% | -20.77% |
FGDL vs. GOEX - Expense Ratio Comparison
FGDL has a 0.15% expense ratio, which is lower than GOEX's 0.65% expense ratio.
Dividends
FGDL vs. GOEX - Dividend Comparison
FGDL has not paid dividends to shareholders, while GOEX's dividend yield for the trailing twelve months is around 2.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GOEX Global X Gold Explorers ETF | 2.51% | 2.08% | 2.46% | 0.05% | 1.04% | 2.35% | 2.62% | 1.60% | 0.00% | 0.00% | 38.91% | 11.70% |
Frequently Asked Questions
FGDL and GOEX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOEX has higher volatility (14.73%) compared to FGDL (5.87%). In terms of maximum drawdown, FGDL dropped -26.58% vs GOEX's -88.83%.
On 3-year performance, GOEX leads with 44.03% vs 27.63% for FGDL. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GOEX has performed better with a 44.03% return vs 27.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FGDL is cheaper with a 0.15% expense ratio, compared with 0.65% for GOEX.
GOEX has the higher dividend yield at 2.51%, compared with 0.00% for FGDL.
FGDL tracks LBMA Gold Price PM ($/ozt), while GOEX tracks Solactive Global Gold Explorers & Developers Total Return. They also come from different issuers: Franklin Templeton and Global X. Their fees differ too: 0.15% for FGDL and 0.65% for GOEX.
GOEX currently has the higher Sharpe Ratio (1.24 vs 0.73), 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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