FGPMX vs. USAGX

Last updated Jun 6, 2026

FGPMX (Franklin Gold and Precious Metals Fund Class R6) and USAGX (USAA Precious Metals and Minerals Fund) are both Precious Metals funds. Over the past 5 years, FGPMX returned 20.98%/yr vs 17.71%/yr for USAGX. Their correlation of 0.94 suggests significant overlap in exposure. FGPMX charges 0.54%/yr vs 1.12%/yr for USAGX.

Performance

FGPMX vs. USAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Gold and Precious Metals Fund Class R6 (FGPMX) and USAA Precious Metals and Minerals Fund (USAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGPMX achieves a 3.36% return, which is significantly higher than USAGX's -0.35% return.

FGPMX

• 1D: 0.41%
• 1M: -6.65%
• YTD: 3.36%
• 6M: 15.06%
• 1Y: 77.05%
• 3Y*: 52.86%
• 5Y*: 20.98%
• 10Y*: —

USAGX

• 1D: 1.22%
• 1M: -6.22%
• YTD: -0.35%
• 6M: 5.07%
• 1Y: 58.62%
• 3Y*: 40.24%
• 5Y*: 17.71%
• 10Y*: 12.94%

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

FGPMX vs. USAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGPMX Franklin Gold and Precious Metals Fund Class R6	3.36%	197.33%	18.11%	2.35%	-23.15%	-3.66%	44.76%	52.07%	-17.76%	-10.66%
USAGX USAA Precious Metals and Minerals Fund	-0.35%	156.06%	10.76%	6.73%	-11.80%	-10.14%	25.85%	42.97%	-12.26%	-0.52%

Correlation

The correlation between FGPMX and USAGX 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 29, 2017	0.94

The correlation between FGPMX and USAGX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FGPMX vs. USAGX — Risk / Return Rank

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

FGPMX

FGPMX Risk / Return Rank: 38
FGPMX Sharpe Ratio Rank: 44
FGPMX Sortino Ratio Rank: 31
FGPMX Omega Ratio Rank: 37
FGPMX Calmar Ratio Rank: 47
FGPMX Martin Ratio Rank: 32

USAGX

USAGX Risk / Return Rank: 24
USAGX Sharpe Ratio Rank: 26
USAGX Sortino Ratio Rank: 20
USAGX Omega Ratio Rank: 26
USAGX Calmar Ratio Rank: 30
USAGX 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.

FGPMX vs. USAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Gold and Precious Metals Fund Class R6 (FGPMX) and USAA Precious Metals and Minerals Fund (USAGX). 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.

	FGPMX	USAGX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.39	+0.47
Sortino ratio: Return per unit of downside risk	2.22	1.80	+0.42
Omega ratio: Gain probability vs. loss probability	1.31	1.25	+0.06
Calmar ratio: Return relative to maximum drawdown	2.52	1.97	+0.56
Martin ratio: Return relative to average drawdown	6.97	5.00	+1.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGPMX vs. USAGX - Sharpe Ratio Comparison

The current FGPMX Sharpe Ratio is 1.86, which is higher than the USAGX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FGPMX and USAGX, 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

	FGPMX	USAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.39	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.54	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.19	+0.36

Drawdowns

FGPMX vs. USAGX - Drawdown Comparison

The maximum FGPMX drawdown since its inception was -48.71%, smaller than the maximum USAGX drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for FGPMX and USAGX.

Drawdown Indicators

	FGPMX	USAGX	Difference
Max Drawdown Largest peak-to-trough decline	-48.71%	-80.89%	+32.18%
Max Drawdown (1Y) Largest decline over 1 year	-31.14%	-30.12%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-31.14%	-30.12%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-48.71%	-45.72%	-2.99%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.03%	—
Current Drawdown Current decline from peak	-23.22%	-25.42%	+2.20%
Average Drawdown Average peak-to-trough decline	-17.89%	-43.07%	+25.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.25%	11.83%	-0.58%

Volatility

FGPMX vs. USAGX - Volatility Comparison

Franklin Gold and Precious Metals Fund Class R6 (FGPMX) and USAA Precious Metals and Minerals Fund (USAGX) have volatilities of 14.05% and 14.36%, 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

	FGPMX	USAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.05%	14.36%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	35.33%	35.33%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	42.21%	42.70%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.69%	32.86%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.40%	32.68%	-0.28%

FGPMX vs. USAGX - Expense Ratio Comparison

FGPMX has a 0.54% expense ratio, which is lower than USAGX's 1.12% expense ratio.

Dividends

FGPMX vs. USAGX - Dividend Comparison

FGPMX's dividend yield for the trailing twelve months is around 9.36%, more than USAGX's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FGPMX Franklin Gold and Precious Metals Fund Class R6	9.36%	9.67%	12.41%	3.18%	0.00%	8.79%	10.04%	0.00%	0.00%	0.82%	0.00%
USAGX USAA Precious Metals and Minerals Fund	0.24%	0.24%	0.00%	2.45%	0.95%	0.84%	0.04%	0.00%	0.00%	0.00%	4.20%

Frequently Asked Questions

Can I hold both FGPMX and USAGX in my portfolio?

With a correlation of 0.95, FGPMX and USAGX 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, FGPMX or USAGX?

USAGX has higher volatility (14.36%) compared to FGPMX (14.05%). In terms of maximum drawdown, FGPMX dropped -48.71% vs USAGX's -80.89%.

Which has better risk-adjusted returns?

FGPMX currently has the higher Sharpe Ratio (1.86 vs 1.39), 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.