GOLDX vs. FSENX

Last updated Aug 1, 2026

GOLDX (Gabelli Gold Fund) and FSENX (Fidelity Select Energy Portfolio) are both mutual funds - GOLDX is a Gold fund actively managed by Gabelli, while FSENX is a Energy Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, GOLDX returned 10.45%/yr vs 10.35%/yr for FSENX. Their 0.31 correlation means their historical movements had little consistent relationship. GOLDX charges 1.51%/yr vs 0.77%/yr for FSENX.

Performance

GOLDX vs. FSENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Gold Fund (GOLDX) and Fidelity Select Energy Portfolio (FSENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOLDX achieves a -10.82% return, which is significantly lower than FSENX's 38.84% return. Both investments have delivered pretty close results over the past 10 years, with GOLDX having a 10.45% annualized return and FSENX not far behind at 10.35%.

GOLDX

• 1D: 3.25%
• 1M: -3.19%
• 6M: -28.68%
• YTD: -10.82%
• 1Y: 55.76%
• 3Y*: 40.50%
• 5Y*: 19.69%
• 10Y*: 10.45%
• ALL TIME*: 7.32%

FSENX

• 1D: 0.94%
• 1M: 10.59%
• 6M: 21.09%
• YTD: 38.84%
• 1Y: 49.26%
• 3Y*: 15.92%
• 5Y*: 25.52%
• 10Y*: 10.35%
• ALL TIME*: 8.27%

*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)
FSENX Fidelity Select Energy Portfolio	$0.00	$0.00	$0.00
GOLDX Gabelli Gold Fund	$0.00	$0.00	$0.00

GOLDX vs. FSENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOLDX Gabelli Gold Fund	-10.82%	165.59%	14.92%	7.85%	-11.02%	-8.97%	26.30%	43.94%	-14.80%	6.22%
FSENX Fidelity Select Energy Portfolio	38.84%	10.56%	4.26%	0.94%	62.98%	55.31%	-32.51%	9.90%	-24.94%	-2.65%

Correlation

The correlation between GOLDX and FSENX is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.14
Correlation (5Y) Shows whether the relationship held over a longer period.	0.24
Correlation (10Y) Provides a long-term view across more market conditions.	0.17
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995	0.31

The correlation between GOLDX and FSENX shifts across timeframes, from -0.02 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GOLDX vs. FSENX — Risk / Return Rank

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

GOLDX

GOLDX Risk / Return Rank: 38
GOLDX Sharpe Ratio Rank: 47
GOLDX Sortino Ratio Rank: 40
GOLDX Omega Ratio Rank: 46
GOLDX Calmar Ratio Rank: 35
GOLDX Martin Ratio Rank: 24

FSENX

FSENX Risk / Return Rank: 87
FSENX Sharpe Ratio Rank: 91
FSENX Sortino Ratio Rank: 84
FSENX Omega Ratio Rank: 81
FSENX Calmar Ratio Rank: 93
FSENX Martin Ratio Rank: 84

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.

GOLDX vs. FSENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Gold Fund (GOLDX) and Fidelity Select Energy Portfolio (FSENX). 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.

	GOLDX	FSENX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.30	-1.04
Sortino ratio: Return per unit of downside risk	1.68	2.94	-1.26
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.45	3.78	-2.32
Martin ratio: Return relative to average drawdown	3.19	10.32	-7.12

GOLDX vs. FSENX - Sharpe Ratio Comparison

The current GOLDX Sharpe Ratio is 1.25, which is lower than the FSENX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of GOLDX and FSENX, 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

GOLDX vs. FSENX - Drawdown Comparison

The maximum GOLDX drawdown since its inception was -73.40%, roughly equal to the maximum FSENX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for GOLDX and FSENX.

Drawdown Indicators

	GOLDX	FSENX	Difference
Max Drawdown Largest peak-to-trough decline	-73.40%	-76.24%	+2.84%
Max Drawdown (1Y) Largest decline over 1 year	-39.55%	-12.22%	-27.33%
Max Drawdown (3Y) Largest decline over 3 years	-39.55%	-25.85%	-13.70%
Max Drawdown (5Y) Largest decline over 5 years	-44.73%	-28.02%	-16.71%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-72.11%	+22.69%
Current Drawdown Current decline from peak	-34.65%	-2.41%	-32.24%
Average Drawdown Average peak-to-trough decline	-34.49%	-16.98%	-17.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.94%	4.48%	+13.46%

Volatility

GOLDX vs. FSENX - Volatility Comparison

Gabelli Gold Fund (GOLDX) has a higher volatility of 12.57% compared to Fidelity Select Energy Portfolio (FSENX) at 5.86%. This indicates that GOLDX's price experiences larger fluctuations and is considered to be riskier than FSENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLDX	FSENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.57%	5.86%	+6.71%
Volatility (6M) Calculated over the trailing 6-month period	38.76%	15.87%	+22.89%
Volatility (1Y) Calculated over the trailing 1-year period	46.08%	20.16%	+25.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.54%	27.01%	+6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.43%	30.84%	+1.59%

GOLDX vs. FSENX - Expense Ratio Comparison

GOLDX has a 1.51% expense ratio, which is higher than FSENX's 0.77% expense ratio.

Dividends

GOLDX vs. FSENX - Dividend Comparison

GOLDX's dividend yield for the trailing twelve months is around 17.46%, more than FSENX's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSENX Fidelity Select Energy Portfolio	1.54%	1.95%	1.95%	1.98%	2.50%	2.25%	3.43%	1.84%	1.48%	1.74%	0.62%	1.29%
GOLDX Gabelli Gold Fund	17.46%	15.57%	2.11%	1.13%	0.00%	0.00%	1.69%	0.83%	0.34%	0.51%	2.18%	0.00%

Frequently Asked Questions

Can I hold both GOLDX and FSENX in my portfolio?

GOLDX and FSENX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOLDX or FSENX?

GOLDX has higher volatility (12.57%) compared to FSENX (5.86%). In terms of maximum drawdown, GOLDX dropped -73.40% vs FSENX's -76.24%.

Which has better risk-adjusted returns?

FSENX currently has the higher Sharpe Ratio (2.30 vs 1.25), 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.