GAGEX vs. VLPIX

Last updated Jun 23, 2026

GAGEX (Guinness Atkinson Global Energy Fund) and VLPIX (Virtus Duff & Phelps Select MLP and Energy Fund) are both Energy Equities funds. Over the past 10 years, GAGEX returned 6.20%/yr vs 12.12%/yr for VLPIX. A 0.77 correlation means they provide meaningful diversification when combined. GAGEX charges 1.46%/yr vs 1.17%/yr for VLPIX.

Performance

GAGEX vs. VLPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guinness Atkinson Global Energy Fund (GAGEX) and Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GAGEX having a 22.20% return and VLPIX slightly lower at 21.09%. Over the past 10 years, GAGEX has underperformed VLPIX with an annualized return of 6.20%, while VLPIX has yielded a comparatively higher 12.12% annualized return.

GAGEX

• 1D: -2.04%
• 1M: -10.64%
• YTD: 22.20%
• 6M: 23.93%
• 1Y: 31.05%
• 3Y*: 14.67%
• 5Y*: 16.36%
• 10Y*: 6.20%

VLPIX

• 1D: 0.32%
• 1M: -5.70%
• YTD: 21.09%
• 6M: 22.50%
• 1Y: 25.55%
• 3Y*: 26.16%
• 5Y*: 22.22%
• 10Y*: 12.12%

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

GAGEX vs. VLPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAGEX Guinness Atkinson Global Energy Fund	22.20%	16.88%	-1.75%	2.66%	34.32%	45.96%	-34.12%	10.45%	-18.96%	-1.04%
VLPIX Virtus Duff & Phelps Select MLP and Energy Fund	21.09%	3.49%	41.45%	11.99%	30.81%	44.75%	-18.60%	9.59%	-17.20%	-1.13%

Correlation

The correlation between GAGEX and VLPIX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015	0.77

The correlation between GAGEX and VLPIX shifts across timeframes, from 0.58 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GAGEX vs. VLPIX — Risk / Return Rank

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

GAGEX

GAGEX Risk / Return Rank: 40
GAGEX Sharpe Ratio Rank: 39
GAGEX Sortino Ratio Rank: 34
GAGEX Omega Ratio Rank: 33
GAGEX Calmar Ratio Rank: 45
GAGEX Martin Ratio Rank: 52

VLPIX

VLPIX Risk / Return Rank: 55
VLPIX Sharpe Ratio Rank: 47
VLPIX Sortino Ratio Rank: 47
VLPIX Omega Ratio Rank: 41
VLPIX Calmar Ratio Rank: 86
VLPIX Martin Ratio Rank: 53

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.

GAGEX vs. VLPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guinness Atkinson Global Energy Fund (GAGEX) and Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX). 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.

	GAGEX	VLPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.87	-0.17
Sortino ratio: Return per unit of downside risk	2.25	2.65	-0.40
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.43	3.94	-1.50
Martin ratio: Return relative to average drawdown	9.95	10.11	-0.16

GAGEX vs. VLPIX - Sharpe Ratio Comparison

The current GAGEX Sharpe Ratio is 1.70, which is comparable to the VLPIX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of GAGEX and VLPIX, 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

GAGEX vs. VLPIX - Drawdown Comparison

The maximum GAGEX drawdown since its inception was -78.90%, which is greater than VLPIX's maximum drawdown of -64.56%. Use the drawdown chart below to compare losses from any high point for GAGEX and VLPIX.

Drawdown Indicators

	GAGEX	VLPIX	Difference
Max Drawdown Largest peak-to-trough decline	-78.90%	-64.56%	-14.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.16%	-6.65%	-6.51%
Max Drawdown (3Y) Largest decline over 3 years	-23.67%	-17.54%	-6.13%
Max Drawdown (5Y) Largest decline over 5 years	-26.42%	-21.26%	-5.16%
Max Drawdown (10Y) Largest decline over 10 years	-69.98%	-64.56%	-5.42%
Current Drawdown Current decline from peak	-13.16%	-5.80%	-7.36%
Average Drawdown Average peak-to-trough decline	-29.17%	-10.63%	-18.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.59%	+0.62%

Volatility

GAGEX vs. VLPIX - Volatility Comparison

Guinness Atkinson Global Energy Fund (GAGEX) has a higher volatility of 6.47% compared to Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX) at 5.06%. This indicates that GAGEX's price experiences larger fluctuations and is considered to be riskier than VLPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAGEX	VLPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.47%	5.06%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	15.54%	10.70%	+4.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.91%	14.03%	+4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.68%	20.12%	+3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.30%	24.63%	+2.67%

GAGEX vs. VLPIX - Expense Ratio Comparison

GAGEX has a 1.46% expense ratio, which is higher than VLPIX's 1.17% expense ratio.

Dividends

GAGEX vs. VLPIX - Dividend Comparison

GAGEX's dividend yield for the trailing twelve months is around 2.31%, less than VLPIX's 8.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAGEX Guinness Atkinson Global Energy Fund	2.31%	2.82%	7.08%	4.33%	0.15%	2.59%	3.59%	1.91%	1.72%	1.40%	1.13%	1.33%
VLPIX Virtus Duff & Phelps Select MLP and Energy Fund	8.09%	9.63%	2.61%	3.32%	3.01%	3.66%	5.40%	4.28%	4.04%	2.81%	2.50%	0.92%

Frequently Asked Questions

Can I hold both GAGEX and VLPIX in my portfolio?

GAGEX and VLPIX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAGEX or VLPIX?

GAGEX has higher volatility (6.47%) compared to VLPIX (5.06%). In terms of maximum drawdown, GAGEX dropped -78.90% vs VLPIX's -64.56%.

Which has better risk-adjusted returns?

VLPIX currently has the higher Sharpe Ratio (1.87 vs 1.70), 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.