GOLDX vs. HTGC

Last updated Apr 1, 2026

Compare and contrast key facts about Gabelli Gold Fund (GOLDX) and Hercules Capital, Inc. (HTGC).

GOLDX is managed by Gabelli. It was launched on Jul 10, 1994.

Performance

GOLDX vs. HTGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Gold Fund (GOLDX) and Hercules Capital, Inc. (HTGC). The values are adjusted to include any dividend payments, if applicable.

GOLDX vs. HTGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOLDX Gabelli Gold Fund	-0.94%	165.59%	14.92%	7.85%	-11.02%	-8.97%	26.30%	43.94%	-14.80%	6.22%
HTGC Hercules Capital, Inc.	-18.99%	3.54%	33.33%	42.91%	-10.42%	26.50%	14.49%	39.86%	-6.86%	1.86%

Returns By Period

In the year-to-date period, GOLDX achieves a -0.94% return, which is significantly higher than HTGC's -18.99% return. Over the past 10 years, GOLDX has outperformed HTGC with an annualized return of 16.72%, while HTGC has yielded a comparatively lower 12.98% annualized return.

GOLDX

• 1D: 0.00%
• 1M: -27.25%
• YTD: -0.94%
• 6M: 19.76%
• 1Y: 98.89%
• 3Y*: 43.60%
• 5Y*: 25.06%
• 10Y*: 16.72%

HTGC

• 1D: 4.01%
• 1M: 3.94%
• YTD: -18.99%
• 6M: -17.22%
• 1Y: -14.23%
• 3Y*: 16.72%
• 5Y*: 9.21%
• 10Y*: 12.98%

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

Return for Risk

GOLDX vs. HTGC — Risk / Return Rank

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

GOLDX

GOLDX Risk / Return Rank: 93
GOLDX Sharpe Ratio Rank: 96
GOLDX Sortino Ratio Rank: 91
GOLDX Omega Ratio Rank: 89
GOLDX Calmar Ratio Rank: 95
GOLDX Martin Ratio Rank: 94

HTGC

HTGC Risk / Return Rank: 17
HTGC Sharpe Ratio Rank: 17
HTGC Sortino Ratio Rank: 18
HTGC Omega Ratio Rank: 18
HTGC Calmar Ratio Rank: 23
HTGC Martin Ratio Rank: 9

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.

GOLDX vs. HTGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Gold Fund (GOLDX) and Hercules Capital, Inc. (HTGC). 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.

	GOLDX	HTGC	Difference
Sharpe ratio Return per unit of total volatility	2.38	-0.56	+2.94
Sortino ratio Return per unit of downside risk	2.59	-0.62	+3.21
Omega ratio Gain probability vs. loss probability	1.38	0.92	+0.47
Calmar ratio Return relative to maximum drawdown	3.25	-0.58	+3.84
Martin ratio Return relative to average drawdown	12.71	-1.54	+14.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLDX vs. HTGC - Sharpe Ratio Comparison

The current GOLDX Sharpe Ratio is 2.38, which is higher than the HTGC Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of GOLDX and HTGC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GOLDX	HTGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	-0.56	+2.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.36	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.47	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.35	-0.12

Correlation

The correlation between GOLDX and HTGC is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GOLDX vs. HTGC - Dividend Comparison

GOLDX's dividend yield for the trailing twelve months is around 15.72%, more than HTGC's 12.73% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOLDX Gabelli Gold Fund	15.72%	15.57%	2.11%	1.13%	0.00%	0.00%	1.69%	0.83%	0.34%	0.51%	2.18%	0.00%
HTGC Hercules Capital, Inc.	12.73%	9.99%	9.56%	11.40%	13.77%	9.76%	9.02%	9.49%	11.40%	9.45%	8.79%	10.17%

Drawdowns

GOLDX vs. HTGC - Drawdown Comparison

The maximum GOLDX drawdown since its inception was -73.40%, which is greater than HTGC's maximum drawdown of -68.21%. Use the drawdown chart below to compare losses from any high point for GOLDX and HTGC.

Drawdown Indicators

	GOLDX	HTGC	Difference
Max Drawdown Largest peak-to-trough decline	-73.40%	-68.21%	-5.19%
Max Drawdown (1Y) Largest decline over 1 year	-31.96%	-24.74%	-7.22%
Max Drawdown (5Y) Largest decline over 5 years	-44.73%	-36.11%	-8.62%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-57.54%	+8.12%
Current Drawdown Current decline from peak	-27.41%	-23.41%	-4.00%
Average Drawdown Average peak-to-trough decline	-34.58%	-10.79%	-23.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	9.38%	-1.20%

Volatility

GOLDX vs. HTGC - Volatility Comparison

Gabelli Gold Fund (GOLDX) has a higher volatility of 15.86% compared to Hercules Capital, Inc. (HTGC) at 8.67%. This indicates that GOLDX's price experiences larger fluctuations and is considered to be riskier than HTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLDX	HTGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.86%	8.67%	+7.19%
Volatility (6M) Calculated over the trailing 6-month period	35.05%	19.68%	+15.37%
Volatility (1Y) Calculated over the trailing 1-year period	42.34%	25.56%	+16.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.76%	25.66%	+6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.17%	27.76%	+4.41%