FRNRX vs. EIPIX

Last updated Aug 4, 2026

FRNRX (Franklin Natural Resources Fund) and EIPIX (EIP Growth and Income Fund) are both Energy Equities funds. Over the past 5 years, FRNRX returned 24.91%/yr vs 16.78%/yr for EIPIX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. FRNRX charges 0.96%/yr vs 1.25%/yr for EIPIX.

Performance

FRNRX vs. EIPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Natural Resources Fund (FRNRX) and EIP Growth and Income Fund (EIPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FRNRX having a 19.08% return and EIPIX slightly higher at 19.29%.

FRNRX

• 1D: -0.18%
• 1M: 3.13%
• 6M: 6.49%
• YTD: 19.08%
• 1Y: 44.14%
• 3Y*: 15.39%
• 5Y*: 24.91%
• 10Y*: 10.73%
• ALL TIME*: 7.78%

EIPIX

• 1D: 0.40%
• 1M: 0.86%
• 6M: 12.10%
• YTD: 19.29%
• 1Y: 22.05%
• 3Y*: 19.27%
• 5Y*: 16.78%
• 10Y*: —
• ALL TIME*: 9.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIPIX EIP Growth and Income Fund	$0.00	$0.00	$0.00
FRNRX Franklin Natural Resources Fund	$0.00	$0.00	$0.00

FRNRX vs. EIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRNRX Franklin Natural Resources Fund	19.08%	30.43%	1.28%	3.25%	30.52%	74.38%	-21.58%	10.03%	-23.78%	0.32%
EIPIX EIP Growth and Income Fund	19.29%	11.31%	26.74%	6.25%	16.19%	21.80%	-9.85%	23.09%	-11.68%	-0.68%

Correlation

The correlation between FRNRX and EIPIX is 0.56, 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.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016	0.73

The correlation between FRNRX and EIPIX shifts across timeframes, from 0.56 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FRNRX vs. EIPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FRNRX

FRNRX Risk / Return Rank: 90
FRNRX Sharpe Ratio Rank: 94
FRNRX Sortino Ratio Rank: 86
FRNRX Omega Ratio Rank: 85
FRNRX Calmar Ratio Rank: 95
FRNRX Martin Ratio Rank: 92

EIPIX

EIPIX Risk / Return Rank: 86
EIPIX Sharpe Ratio Rank: 83
EIPIX Sortino Ratio Rank: 84
EIPIX Omega Ratio Rank: 75
EIPIX Calmar Ratio Rank: 96
EIPIX Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FRNRX vs. EIPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Natural Resources Fund (FRNRX) and EIP Growth and Income Fund (EIPIX). 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.

	FRNRX	EIPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.03	+0.47
Sortino ratio: Return per unit of downside risk	3.17	3.04	+0.13
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	4.46	4.68	-0.22
Martin ratio: Return relative to average drawdown	13.57	12.84	+0.74

FRNRX vs. EIPIX - Sharpe Ratio Comparison

The current FRNRX Sharpe Ratio is 2.50, which is comparable to the EIPIX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FRNRX and EIPIX, 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

FRNRX vs. EIPIX - Drawdown Comparison

The maximum FRNRX drawdown since its inception was -80.54%, which is greater than EIPIX's maximum drawdown of -43.98%. Use the drawdown chart below to compare losses from any high point for FRNRX and EIPIX.

Drawdown Indicators

	FRNRX	EIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-80.54%	-43.98%	-36.56%
Max Drawdown (1Y) Largest decline over 1 year	-9.62%	-4.51%	-5.11%
Max Drawdown (3Y) Largest decline over 3 years	-19.65%	-13.00%	-6.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.29%	-16.71%	-9.58%
Max Drawdown (10Y) Largest decline over 10 years	-70.71%	—	—
Current Drawdown Current decline from peak	-5.52%	-1.86%	-3.66%
Average Drawdown Average peak-to-trough decline	-23.73%	-4.97%	-18.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	1.64%	+1.51%

Volatility

FRNRX vs. EIPIX - Volatility Comparison

Franklin Natural Resources Fund (FRNRX) has a higher volatility of 4.18% compared to EIP Growth and Income Fund (EIPIX) at 3.62%. This indicates that FRNRX's price experiences larger fluctuations and is considered to be riskier than EIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRNRX	EIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	3.62%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	13.39%	8.10%	+5.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	10.39%	+6.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.37%	15.57%	+9.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.45%	18.63%	+9.82%

FRNRX vs. EIPIX - Expense Ratio Comparison

FRNRX has a 0.96% expense ratio, which is lower than EIPIX's 1.25% expense ratio.

Dividends

FRNRX vs. EIPIX - Dividend Comparison

FRNRX's dividend yield for the trailing twelve months is around 1.42%, less than EIPIX's 13.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPIX EIP Growth and Income Fund	13.15%	15.71%	7.60%	4.09%	25.10%	3.44%	4.02%	3.44%	3.45%	1.77%	0.78%	0.00%
FRNRX Franklin Natural Resources Fund	1.42%	1.70%	2.40%	1.98%	2.38%	22.66%	2.39%	1.64%	2.43%	1.16%	1.02%	0.86%

Frequently Asked Questions

Can I hold both FRNRX and EIPIX in my portfolio?

FRNRX and EIPIX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRNRX or EIPIX?

FRNRX has higher volatility (4.18%) compared to EIPIX (3.62%). In terms of maximum drawdown, FRNRX dropped -80.54% vs EIPIX's -43.98%.

Which has better risk-adjusted returns?

FRNRX currently has the higher Sharpe Ratio (2.50 vs 2.03), 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.