FSTEX vs. GAGEX
FSTEX (Invesco Energy Fund) and GAGEX (Guinness Atkinson Global Energy Fund) are both Energy Equities funds. Over the past 10 years, FSTEX returned 7.77%/yr vs 7.95%/yr for GAGEX. Their correlation of 0.95 means they have usually moved in the same direction. FSTEX charges 1.36%/yr vs 1.46%/yr for GAGEX.
Performance
FSTEX vs. GAGEX - Performance Comparison
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Returns By Period
In the year-to-date period, FSTEX achieves a 32.80% return, which is significantly lower than GAGEX's 36.50% return. Both investments have delivered pretty close results over the past 10 years, with FSTEX having a 7.77% annualized return and GAGEX not far ahead at 7.95%.
FSTEX
- 1D
- 0.78%
- 1M
- 12.82%
- 6M
- 18.22%
- YTD
- 32.80%
- 1Y
- 42.48%
- 3Y*
- 16.16%
- 5Y*
- 24.17%
- 10Y*
- 7.77%
- ALL TIME*
- 6.88%
GAGEX
- 1D
- 1.06%
- 1M
- 13.03%
- 6M
- 22.28%
- YTD
- 36.50%
- 1Y
- 48.02%
- 3Y*
- 15.93%
- 5Y*
- 20.40%
- 10Y*
- 7.95%
- ALL TIME*
- 7.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FSTEX Invesco Energy Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FSTEX vs. GAGEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSTEX Invesco Energy Fund | 32.80% | 12.31% | 6.00% | 0.28% | 52.85% | 55.99% | -32.13% | 4.78% | -26.82% | -8.26% |
GAGEX Guinness Atkinson Global Energy Fund | 36.50% | 16.88% | -1.75% | 2.66% | 34.32% | 45.96% | -34.12% | 10.45% | -18.96% | -1.04% |
Correlation
The correlation between FSTEX and GAGEX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2004 | 0.95 |
The correlation between FSTEX and GAGEX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
FSTEX vs. GAGEX — Risk / Return Rank
FSTEX
GAGEX
FSTEX vs. GAGEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Energy Fund (FSTEX) and Guinness Atkinson Global Energy Fund (GAGEX). 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.
| FSTEX | GAGEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.38 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 3.00 | -0.59 |
| Martin ratioReturn relative to average drawdown | 7.66 | 9.95 | -2.29 |
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Drawdowns
FSTEX vs. GAGEX - Drawdown Comparison
The maximum FSTEX drawdown since its inception was -83.31%, which is greater than GAGEX's maximum drawdown of -78.90%. Use the drawdown chart below to compare losses from any high point for FSTEX and GAGEX.
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Drawdown Indicators
| FSTEX | GAGEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.31% | -78.90% | -4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -15.14% | -1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -23.67% | +5.09% |
Max Drawdown (5Y)Largest decline over 5 years | -26.88% | -26.42% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -73.41% | -69.98% | -3.43% |
Current DrawdownCurrent decline from peak | -4.89% | -3.00% | -1.89% |
Average DrawdownAverage peak-to-trough decline | -25.14% | -29.07% | +3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 4.56% | +0.67% |
Volatility
FSTEX vs. GAGEX - Volatility Comparison
Invesco Energy Fund (FSTEX) and Guinness Atkinson Global Energy Fund (GAGEX) have volatilities of 6.68% and 6.58%, 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.
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Volatility by Period
| FSTEX | GAGEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 6.58% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 16.59% | 16.12% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 19.52% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.99% | 23.58% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.59% | 27.21% | +2.38% |
FSTEX vs. GAGEX - Expense Ratio Comparison
FSTEX has a 1.36% expense ratio, which is lower than GAGEX's 1.46% expense ratio.
Dividends
FSTEX vs. GAGEX - Dividend Comparison
FSTEX's dividend yield for the trailing twelve months is around 1.67%, less than GAGEX's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSTEX Invesco Energy Fund | 1.67% | 2.22% | 4.03% | 2.11% | 0.89% | 1.80% | 2.21% | 1.53% | 3.05% | 2.22% | 1.10% | 1.58% |
GAGEX Guinness Atkinson Global Energy Fund | 2.07% | 2.82% | 7.08% | 4.33% | 0.15% | 2.59% | 3.59% | 1.91% | 1.72% | 1.40% | 1.13% | 1.33% |
Frequently Asked Questions
With a correlation of 0.97, FSTEX and GAGEX 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.
FSTEX has higher volatility (6.68%) compared to GAGEX (6.58%). In terms of maximum drawdown, FSTEX dropped -83.31% vs GAGEX's -78.90%.
GAGEX currently has the higher Sharpe Ratio (2.33 vs 1.97), 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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