FIJDX vs. CEF

Last updated Jun 26, 2026

FIJDX (Fidelity Advisor Gold Fund Class Z) and CEF (Sprott Physical Gold and Silver Trust) are both Gold funds. Both are actively managed. Over the past 5 years, FIJDX returned 15.05%/yr vs 16.18%/yr for CEF. A 0.78 correlation means they provide meaningful diversification when combined. FIJDX charges 0.60%/yr vs 0.48%/yr for CEF.

Performance

FIJDX vs. CEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Gold Fund Class Z (FIJDX) 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, FIJDX achieves a -10.74% return, which is significantly higher than CEF's -13.10% return.

FIJDX

• 1D: -4.33%
• 1M: -15.15%
• YTD: -10.74%
• 6M: -14.51%
• 1Y: 40.06%
• 3Y*: 36.46%
• 5Y*: 15.05%
• 10Y*: —

CEF

• 1D: 1.25%
• 1M: -16.56%
• YTD: -13.10%
• 6M: -15.68%
• 1Y: 31.22%
• 3Y*: 30.11%
• 5Y*: 16.18%
• 10Y*: 11.18%

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

FIJDX vs. CEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIJDX Fidelity Advisor Gold Fund Class Z	-10.74%	143.25%	15.10%	-0.26%	-13.32%	-10.33%	27.00%	35.74%	4.09%
CEF Sprott Physical Gold and Silver Trust	-13.10%	92.76%	24.07%	6.80%	1.07%	-8.32%	31.99%	16.91%	5.82%

Correlation

The correlation between FIJDX and CEF is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.78

The correlation between FIJDX and CEF has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

FIJDX vs. CEF — Risk / Return Rank

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

FIJDX

FIJDX Risk / Return Rank: 16
FIJDX Sharpe Ratio Rank: 16
FIJDX Sortino Ratio Rank: 16
FIJDX Omega Ratio Rank: 18
FIJDX Calmar Ratio Rank: 16
FIJDX Martin Ratio Rank: 14

CEF

CEF Risk / Return Rank: 13
CEF Sharpe Ratio Rank: 13
CEF Sortino Ratio Rank: 12
CEF Omega Ratio Rank: 17
CEF Calmar Ratio Rank: 12
CEF Martin Ratio Rank: 11

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.

FIJDX vs. CEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Gold Fund Class Z (FIJDX) 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.

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.

	FIJDX	CEF	Difference
Sharpe ratio: Return per unit of total volatility	0.89	0.79	+0.09
Sortino ratio: Return per unit of downside risk	1.31	1.17	+0.15
Omega ratio: Gain probability vs. loss probability	1.18	1.18	+0.01
Calmar ratio: Return relative to maximum drawdown	1.14	0.93	+0.20
Martin ratio: Return relative to average drawdown	2.99	2.52	+0.47

FIJDX vs. CEF - Sharpe Ratio Comparison

The current FIJDX Sharpe Ratio is 0.89, which is comparable to the CEF Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FIJDX 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.

Drawdowns

FIJDX vs. CEF - Drawdown Comparison

The maximum FIJDX drawdown since its inception was -50.43%, smaller than the maximum CEF drawdown of -62.29%. Use the drawdown chart below to compare losses from any high point for FIJDX and CEF.

Drawdown Indicators

	FIJDX	CEF	Difference
Max Drawdown Largest peak-to-trough decline	-50.43%	-62.29%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-35.39%	-33.61%	-1.78%
Max Drawdown (3Y) Largest decline over 3 years	-35.39%	-33.61%	-1.78%
Max Drawdown (5Y) Largest decline over 5 years	-45.91%	-33.61%	-12.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.61%	—
Current Drawdown Current decline from peak	-34.63%	-32.78%	-1.85%
Average Drawdown Average peak-to-trough decline	-18.54%	-27.34%	+8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	12.41%	+1.00%

Volatility

FIJDX vs. CEF - Volatility Comparison

Fidelity Advisor Gold Fund Class Z (FIJDX) has a higher volatility of 18.10% compared to Sprott Physical Gold and Silver Trust (CEF) at 11.86%. This indicates that FIJDX'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

	FIJDX	CEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.10%	11.86%	+6.24%
Volatility (6M) Calculated over the trailing 6-month period	38.30%	36.69%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	45.49%	39.52%	+5.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.20%	24.72%	+9.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.70%	22.07%	+12.63%

FIJDX vs. CEF - Expense Ratio Comparison

FIJDX has a 0.60% expense ratio, which is higher than CEF's 0.48% expense ratio.

Dividends

FIJDX vs. CEF - Dividend Comparison

FIJDX's dividend yield for the trailing twelve months is around 5.74%, 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%
FIJDX Fidelity Advisor Gold Fund Class Z	5.74%	2.17%	3.63%	1.16%	0.38%	1.71%	4.54%	0.53%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIJDX and CEF in my portfolio?

FIJDX and CEF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIJDX or CEF?

FIJDX has higher volatility (18.10%) compared to CEF (11.86%). In terms of maximum drawdown, FIJDX dropped -50.43% vs CEF's -62.29%.

Which has better risk-adjusted returns?

FIJDX currently has the higher Sharpe Ratio (0.89 vs 0.79), 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.