FGDL vs. RING
FGDL (Franklin Responsibly Sourced Gold ETF) and RING (iShares MSCI Global Gold Miners ETF) are both Gold funds - FGDL tracks the LBMA Gold Price PM ($/ozt) while RING tracks the MSCI ACWI Select Gold Miners Investable Market Index. Both are passively managed. Over the past 3 years, FGDL returned 29.60%/yr vs 47.05%/yr for RING. A 0.78 correlation means they provide meaningful diversification when combined. FGDL charges 0.15%/yr vs 0.39%/yr for RING.
Performance
FGDL vs. RING - Performance Comparison
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Returns By Period
In the year-to-date period, FGDL achieves a -3.06% return, which is significantly higher than RING's -4.18% return.
FGDL
- 1D
- -0.53%
- 1M
- -6.84%
- YTD
- -3.06%
- 6M
- -5.62%
- 1Y
- 23.95%
- 3Y*
- 29.60%
- 5Y*
- —
- 10Y*
- —
RING
- 1D
- -1.85%
- 1M
- -4.93%
- YTD
- -4.18%
- 6M
- -8.91%
- 1Y
- 61.98%
- 3Y*
- 47.05%
- 5Y*
- 21.96%
- 10Y*
- 13.45%
FGDL vs. RING - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | -3.06% | 64.15% | 27.31% | 12.92% | 0.72% |
RING iShares MSCI Global Gold Miners ETF | -4.18% | 164.72% | 15.98% | 12.29% | 0.42% |
Correlation
The correlation between FGDL and RING is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.78 |
The correlation between FGDL and RING has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.
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Return for Risk
FGDL vs. RING — Risk / Return Rank
FGDL
RING
FGDL vs. RING - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and iShares MSCI Global Gold Miners ETF (RING). 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 | RING | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.74 | -0.77 |
| Martin ratioReturn relative to average drawdown | 2.63 | 4.69 | -2.06 |
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Drawdowns
FGDL vs. RING - Drawdown Comparison
The maximum FGDL drawdown since its inception was -24.73%, smaller than the maximum RING drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for FGDL and RING.
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Drawdown Indicators
| FGDL | RING | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.73% | -79.47% | +54.74% |
Max Drawdown (1Y)Largest decline over 1 year | -24.73% | -35.72% | +10.99% |
Max Drawdown (3Y)Largest decline over 3 years | -24.73% | -35.72% | +10.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.04% | — |
Current DrawdownCurrent decline from peak | -22.54% | -29.02% | +6.48% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -47.34% | +43.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.11% | 13.25% | -4.14% |
Volatility
FGDL vs. RING - Volatility Comparison
The current volatility for Franklin Responsibly Sourced Gold ETF (FGDL) is 8.36%, while iShares MSCI Global Gold Miners ETF (RING) has a volatility of 16.66%. This indicates that FGDL experiences smaller price fluctuations and is considered to be less risky than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGDL | RING | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 16.66% | -8.30% |
Volatility (6M)Calculated over the trailing 6-month period | 24.41% | 39.68% | -15.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.82% | 47.90% | -20.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 36.89% | -17.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.31% | 36.74% | -17.43% |
FGDL vs. RING - Expense Ratio Comparison
FGDL has a 0.15% expense ratio, which is lower than RING's 0.39% expense ratio.
Dividends
FGDL vs. RING - Dividend Comparison
FGDL has not paid dividends to shareholders, while RING's dividend yield for the trailing twelve months is around 1.29%.
| 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% |
RING iShares MSCI Global Gold Miners ETF | 1.29% | 0.84% | 1.43% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% |
Frequently Asked Questions
FGDL and RING have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RING has higher volatility (16.66%) compared to FGDL (8.36%). In terms of maximum drawdown, FGDL dropped -24.73% vs RING's -79.47%.
On 3-year performance, RING leads with 47.05% vs 29.60% for FGDL. On fees, FGDL is cheaper at 0.15% per year. On volatility, FGDL has been the lower-risk option at 8.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, RING has performed better with a 47.05% return vs 29.60%. 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 0.39% for RING.
RING has the higher dividend yield at 1.29%, compared with 0.00% for FGDL.
FGDL tracks LBMA Gold Price PM ($/ozt), while RING tracks MSCI ACWI Select Gold Miners Investable Market Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.15% for FGDL and 0.39% for RING.
RING currently has the higher Sharpe Ratio (1.30 vs 0.87), 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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