GHAAX vs. SBMBX

Last updated Aug 5, 2026

GHAAX (VanEck Global Resources Fund) and SBMBX (Saratoga Energy & Basic Materials Fund) are both Energy Equities funds. Over the past 10 years, GHAAX returned 5.95%/yr vs 2.18%/yr for SBMBX. Their correlation of 0.88 means they have usually moved in the same direction. GHAAX charges 1.38%/yr vs 3.30%/yr for SBMBX.

Performance

GHAAX vs. SBMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Global Resources Fund (GHAAX) and Saratoga Energy & Basic Materials Fund (SBMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, GHAAX has outperformed SBMBX with an annualized return of 5.95%, while SBMBX has yielded a comparatively lower 2.18% annualized return.

GHAAX

• 1D: -0.15%
• 1M: 4.67%
• 6M: -2.60%
• YTD: 12.05%
• 1Y: 34.43%
• 3Y*: 12.59%
• 5Y*: 10.03%
• 10Y*: 5.95%
• ALL TIME*: 7.62%

SBMBX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: 3.79%
• 3Y*: 1.83%
• 5Y*: 4.96%
• 10Y*: 2.18%
• ALL TIME*: 5.32%

*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)
GHAAX VanEck Global Resources Fund	$0.00	$0.00	$0.00
SBMBX Saratoga Energy & Basic Materials Fund	$0.00	$0.00	$0.00

GHAAX vs. SBMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GHAAX VanEck Global Resources Fund	12.05%	36.12%	-3.15%	-3.93%	7.79%	18.63%	18.68%	11.65%	-29.35%	-1.49%
SBMBX Saratoga Energy & Basic Materials Fund	0.00%	5.05%	-7.25%	6.28%	19.60%	25.58%	-19.21%	-0.96%	-18.00%	8.44%

Correlation

The correlation between GHAAX and SBMBX is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.88

Over the past year, the correlation between GHAAX and SBMBX has dropped to 0.35 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

GHAAX vs. SBMBX — Risk / Return Rank

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

GHAAX

GHAAX Risk / Return Rank: 59
GHAAX Sharpe Ratio Rank: 64
GHAAX Sortino Ratio Rank: 48
GHAAX Omega Ratio Rank: 61
GHAAX Calmar Ratio Rank: 74
GHAAX Martin Ratio Rank: 47

SBMBX

SBMBX Risk / Return Rank: 4
SBMBX Sharpe Ratio Rank: 4
SBMBX Sortino Ratio Rank: 4
SBMBX Omega Ratio Rank: 4
SBMBX Calmar Ratio Rank: 4
SBMBX Martin Ratio Rank: 4

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.

GHAAX vs. SBMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Resources Fund (GHAAX) and Saratoga Energy & Basic Materials Fund (SBMBX). 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	SBMBX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	0.07	+1.67
Sortino ratio: Return per unit of downside risk	2.19	0.16	+2.02
Omega ratio: Gain probability vs. loss probability	1.32	1.03	+0.29
Calmar ratio: Return relative to maximum drawdown	2.67	0.12	+2.55
Martin ratio: Return relative to average drawdown	7.42	0.23	+7.19

GHAAX vs. SBMBX - Sharpe Ratio Comparison

The current GHAAX Sharpe Ratio is 1.74, which is higher than the SBMBX Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of GHAAX and SBMBX, 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

GHAAX vs. SBMBX - Drawdown Comparison

The maximum GHAAX drawdown since its inception was -74.68%, roughly equal to the maximum SBMBX drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for GHAAX and SBMBX.

Drawdown Indicators

	GHAAX	SBMBX	Difference
Max Drawdown Largest peak-to-trough decline	-74.68%	-74.35%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-5.66%	-7.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	-25.34%	+6.69%
Max Drawdown (5Y) Largest decline over 5 years	-27.74%	-26.66%	-1.08%
Max Drawdown (10Y) Largest decline over 10 years	-62.93%	-65.48%	+2.55%
Current Drawdown Current decline from peak	-8.08%	-31.22%	+23.14%
Average Drawdown Average peak-to-trough decline	-24.61%	-28.69%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	2.82%	+2.08%

Volatility

GHAAX vs. SBMBX - Volatility Comparison

VanEck Global Resources Fund (GHAAX) has a higher volatility of 4.03% compared to Saratoga Energy & Basic Materials Fund (SBMBX) at 0.00%. This indicates that GHAAX's price experiences larger fluctuations and is considered to be riskier than SBMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GHAAX	SBMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	0.00%	+4.03%
Volatility (6M) Calculated over the trailing 6-month period	16.65%	2.01%	+14.64%
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	9.77%	+11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.00%	20.52%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.30%	23.93%	+1.37%

GHAAX vs. SBMBX - Expense Ratio Comparison

GHAAX has a 1.38% expense ratio, which is lower than SBMBX's 3.30% expense ratio.

Dividends

GHAAX vs. SBMBX - Dividend Comparison

GHAAX's dividend yield for the trailing twelve months is around 1.39%, less than SBMBX's 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GHAAX VanEck Global Resources Fund	1.39%	1.56%	2.95%	2.33%	2.53%	1.35%	0.53%	0.89%	0.00%	0.00%	0.03%	0.51%
SBMBX Saratoga Energy & Basic Materials Fund	2.13%	2.13%	2.17%	0.00%	2.75%	0.75%	1.32%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GHAAX and SBMBX in my portfolio?

GHAAX and SBMBX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GHAAX or SBMBX?

GHAAX has higher volatility (4.03%) compared to SBMBX (0.00%). In terms of maximum drawdown, GHAAX dropped -74.68% vs SBMBX's -74.35%.

Which has better risk-adjusted returns?

GHAAX currently has the higher Sharpe Ratio (1.74 vs 0.07), 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.