GGN vs. EPGFX

Last updated Jul 17, 2026

GGN (GAMCO Global Gold, Natural Resources and Income Trust) and EPGFX (EuroPac Gold Fund) are both Gold funds. Over the past 10 years, GGN returned 7.91%/yr vs 8.64%/yr for EPGFX. A 0.61 correlation means they provide meaningful diversification when combined. GGN charges 0.01%/yr vs 1.40%/yr for EPGFX.

Performance

GGN vs. EPGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GAMCO Global Gold, Natural Resources and Income Trust (GGN) and EuroPac Gold Fund (EPGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGN achieves a -3.40% return, which is significantly higher than EPGFX's -9.52% return. Over the past 10 years, GGN has underperformed EPGFX with an annualized return of 7.91%, while EPGFX has yielded a comparatively higher 8.64% annualized return.

GGN

• 1D: -2.23%
• 1M: -4.55%
• 6M: -7.18%
• YTD: -3.40%
• 1Y: 14.92%
• 3Y*: 18.09%
• 5Y*: 14.12%
• 10Y*: 7.91%

EPGFX

• 1D: -0.94%
• 1M: -12.87%
• 6M: -18.70%
• YTD: -9.52%
• 1Y: 38.57%
• 3Y*: 28.27%
• 5Y*: 13.49%
• 10Y*: 8.64%

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

GGN vs. EPGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGN GAMCO Global Gold, Natural Resources and Income Trust	-3.40%	48.19%	9.59%	15.01%	6.80%	17.41%	-8.62%	36.59%	-19.53%	9.54%
EPGFX EuroPac Gold Fund	-9.52%	129.06%	8.51%	2.31%	-14.00%	-18.06%	36.99%	37.25%	-13.85%	12.73%

Correlation

The correlation between GGN and EPGFX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.61

The correlation between GGN and EPGFX shifts across timeframes, from 0.58 (10 years) to 0.76 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GGN vs. EPGFX — Risk / Return Rank

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

GGN

GGN Risk / Return Rank: 11
GGN Sharpe Ratio Rank: 10
GGN Sortino Ratio Rank: 10
GGN Omega Ratio Rank: 11
GGN Calmar Ratio Rank: 12
GGN Martin Ratio Rank: 10

EPGFX

EPGFX Risk / Return Rank: 19
EPGFX Sharpe Ratio Rank: 20
EPGFX Sortino Ratio Rank: 18
EPGFX Omega Ratio Rank: 23
EPGFX Calmar Ratio Rank: 20
EPGFX Martin Ratio Rank: 14

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.

GGN vs. EPGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GAMCO Global Gold, Natural Resources and Income Trust (GGN) and EuroPac Gold Fund (EPGFX). 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.

	GGN	EPGFX	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.96	-0.33
Sortino ratio: Return per unit of downside risk	0.95	1.37	-0.41
Omega ratio: Gain probability vs. loss probability	1.13	1.19	-0.06
Calmar ratio: Return relative to maximum drawdown	0.88	1.25	-0.37
Martin ratio: Return relative to average drawdown	2.09	2.83	-0.74

GGN vs. EPGFX - Sharpe Ratio Comparison

The current GGN Sharpe Ratio is 0.63, which is lower than the EPGFX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of GGN and EPGFX, 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

GGN vs. EPGFX - Drawdown Comparison

The maximum GGN drawdown since its inception was -73.04%, which is greater than EPGFX's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for GGN and EPGFX.

Drawdown Indicators

	GGN	EPGFX	Difference
Max Drawdown Largest peak-to-trough decline	-73.04%	-56.70%	-16.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.94%	-31.24%	+14.30%
Max Drawdown (3Y) Largest decline over 3 years	-16.94%	-31.24%	+14.30%
Max Drawdown (5Y) Largest decline over 5 years	-22.08%	-44.99%	+22.91%
Max Drawdown (10Y) Largest decline over 10 years	-53.04%	-51.03%	-2.01%
Current Drawdown Current decline from peak	-15.71%	-31.00%	+15.29%
Average Drawdown Average peak-to-trough decline	-31.69%	-22.07%	-9.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.15%	13.78%	-6.63%

Volatility

GGN vs. EPGFX - Volatility Comparison

The current volatility for GAMCO Global Gold, Natural Resources and Income Trust (GGN) is 5.33%, while EuroPac Gold Fund (EPGFX) has a volatility of 10.97%. This indicates that GGN experiences smaller price fluctuations and is considered to be less risky than EPGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGN	EPGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	10.97%	-5.64%
Volatility (6M) Calculated over the trailing 6-month period	19.24%	34.12%	-14.88%
Volatility (1Y) Calculated over the trailing 1-year period	23.64%	40.68%	-17.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	32.99%	-13.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	32.57%	-9.46%

GGN vs. EPGFX - Expense Ratio Comparison

GGN has a 0.02% expense ratio, which is lower than EPGFX's 1.40% expense ratio.

Dividends

GGN vs. EPGFX - Dividend Comparison

GGN's dividend yield for the trailing twelve months is around 7.47%, less than EPGFX's 7.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPGFX EuroPac Gold Fund	7.58%	6.86%	10.36%	0.00%	0.00%	2.49%	8.67%	0.00%	0.00%	2.56%	19.31%	0.00%
GGN GAMCO Global Gold, Natural Resources and Income Trust	7.47%	6.98%	9.55%	10.37%	9.92%	9.60%	13.68%	13.64%	16.22%	11.52%	15.85%	17.68%

Frequently Asked Questions

Can I hold both GGN and EPGFX in my portfolio?

GGN and EPGFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGN or EPGFX?

EPGFX has higher volatility (10.97%) compared to GGN (5.33%). In terms of maximum drawdown, GGN dropped -73.04% vs EPGFX's -56.70%.

Which has better risk-adjusted returns?

EPGFX currently has the higher Sharpe Ratio (0.96 vs 0.63), 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.