GHAAX vs. FRNRX
GHAAX (VanEck Global Resources Fund) and FRNRX (Franklin Natural Resources Fund) are both Energy Equities funds. Over the past 10 years, GHAAX returned 6.18%/yr vs 10.30%/yr for FRNRX. Their correlation of 0.92 suggests significant overlap in exposure. GHAAX charges 1.38%/yr vs 0.96%/yr for FRNRX.
Performance
GHAAX vs. FRNRX - Performance Comparison
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Returns By Period
In the year-to-date period, GHAAX achieves a 6.68% return, which is significantly lower than FRNRX's 14.67% return. Over the past 10 years, GHAAX has underperformed FRNRX with an annualized return of 6.18%, while FRNRX has yielded a comparatively higher 10.30% annualized return.
GHAAX
- 1D
- -2.00%
- 1M
- -8.08%
- YTD
- 6.68%
- 6M
- 5.40%
- 1Y
- 29.72%
- 3Y*
- 13.89%
- 5Y*
- 7.64%
- 10Y*
- 6.18%
FRNRX
- 1D
- -1.90%
- 1M
- -7.87%
- YTD
- 14.67%
- 6M
- 14.08%
- 1Y
- 40.91%
- 3Y*
- 18.35%
- 5Y*
- 22.01%
- 10Y*
- 10.30%
GHAAX vs. FRNRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHAAX VanEck Global Resources Fund | 6.68% | 36.12% | -3.15% | -3.93% | 7.79% | 18.63% | 18.68% | 11.65% | -29.35% | -1.49% |
FRNRX Franklin Natural Resources Fund | 14.67% | 30.43% | 1.28% | 3.25% | 30.52% | 74.38% | -21.58% | 10.03% | -23.78% | 0.32% |
Correlation
The correlation between GHAAX and FRNRX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 1995 | 0.92 |
The correlation between GHAAX and FRNRX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
GHAAX vs. FRNRX — Risk / Return Rank
GHAAX
FRNRX
GHAAX vs. FRNRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Global Resources Fund (GHAAX) and Franklin Natural Resources Fund (FRNRX). 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.
| GHAAX | FRNRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.40 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 4.46 | -2.14 |
| Martin ratioReturn relative to average drawdown | 8.18 | 18.41 | -10.23 |
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Drawdowns
GHAAX vs. FRNRX - Drawdown Comparison
The maximum GHAAX drawdown since its inception was -74.68%, smaller than the maximum FRNRX drawdown of -80.54%. Use the drawdown chart below to compare losses from any high point for GHAAX and FRNRX.
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Drawdown Indicators
| GHAAX | FRNRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.68% | -80.54% | +5.86% |
Max Drawdown (1Y)Largest decline over 1 year | -12.49% | -9.01% | -3.48% |
Max Drawdown (3Y)Largest decline over 3 years | -18.65% | -19.65% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -27.74% | -26.29% | -1.45% |
Max Drawdown (10Y)Largest decline over 10 years | -62.93% | -70.71% | +7.78% |
Current DrawdownCurrent decline from peak | -12.49% | -9.01% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -24.65% | -23.79% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 2.18% | +1.36% |
Volatility
GHAAX vs. FRNRX - Volatility Comparison
VanEck Global Resources Fund (GHAAX) has a higher volatility of 7.04% compared to Franklin Natural Resources Fund (FRNRX) at 6.06%. This indicates that GHAAX's price experiences larger fluctuations and is considered to be riskier than FRNRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHAAX | FRNRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.04% | 6.06% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 17.66% | 13.65% | +4.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.98% | 17.24% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.17% | 25.57% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.39% | 28.53% | -3.14% |
GHAAX vs. FRNRX - Expense Ratio Comparison
GHAAX has a 1.38% expense ratio, which is higher than FRNRX's 0.96% expense ratio.
Dividends
GHAAX vs. FRNRX - Dividend Comparison
GHAAX's dividend yield for the trailing twelve months is around 1.46%, less than FRNRX's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRNRX Franklin Natural Resources Fund | 1.48% | 1.70% | 2.40% | 1.98% | 2.38% | 22.66% | 2.39% | 1.64% | 2.43% | 1.16% | 1.02% | 0.86% |
GHAAX VanEck Global Resources Fund | 1.46% | 1.56% | 2.95% | 2.33% | 2.53% | 1.35% | 0.53% | 0.89% | 0.00% | 0.00% | 0.03% | 0.51% |
Frequently Asked Questions
With a correlation of 0.91, GHAAX and FRNRX 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.
GHAAX has higher volatility (7.04%) compared to FRNRX (6.06%). In terms of maximum drawdown, GHAAX dropped -74.68% vs FRNRX's -80.54%.
FRNRX currently has the higher Sharpe Ratio (2.33 vs 1.38), 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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