GOLDX vs. RYPMX

Last updated Jun 3, 2026

GOLDX (Gabelli Gold Fund) and RYPMX (Rydex Precious Metals Fund) are both Precious Metals funds. Over the past 10 years, GOLDX returned 14.52%/yr vs 14.63%/yr for RYPMX. Their correlation of 0.92 suggests significant overlap in exposure. GOLDX charges 1.51%/yr vs 1.26%/yr for RYPMX.

Performance

GOLDX vs. RYPMX - Performance Comparison

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

Returns By Period

In the year-to-date period, GOLDX achieves a 1.07% return, which is significantly lower than RYPMX's 6.10% return. Both investments have delivered pretty close results over the past 10 years, with GOLDX having a 14.52% annualized return and RYPMX not far ahead at 14.63%.

GOLDX

• 1D: -3.08%
• 1M: -1.54%
• YTD: 1.07%
• 6M: 8.57%
• 1Y: 68.25%
• 3Y*: 45.36%
• 5Y*: 20.27%
• 10Y*: 14.52%

RYPMX

• 1D: -2.21%
• 1M: 2.39%
• YTD: 6.10%
• 6M: 12.85%
• 1Y: 77.89%
• 3Y*: 42.46%
• 5Y*: 16.72%
• 10Y*: 14.63%

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

GOLDX vs. RYPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOLDX Gabelli Gold Fund	1.07%	165.59%	14.92%	7.85%	-11.02%	-8.97%	26.30%	43.94%	-14.80%	6.22%
RYPMX Rydex Precious Metals Fund	6.10%	148.94%	10.14%	4.24%	-10.57%	-8.96%	34.25%	52.91%	-16.56%	7.04%

Correlation

The correlation between GOLDX and RYPMX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 1995	0.92

The correlation between GOLDX and RYPMX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

GOLDX vs. RYPMX — Risk / Return Rank

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

GOLDX

GOLDX Risk / Return Rank: 33
GOLDX Sharpe Ratio Rank: 39
GOLDX Sortino Ratio Rank: 25
GOLDX Omega Ratio Rank: 34
GOLDX Calmar Ratio Rank: 39
GOLDX Martin Ratio Rank: 26

RYPMX

RYPMX Risk / Return Rank: 40
RYPMX Sharpe Ratio Rank: 44
RYPMX Sortino Ratio Rank: 29
RYPMX Omega Ratio Rank: 36
RYPMX Calmar Ratio Rank: 56
RYPMX Martin Ratio Rank: 33

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. RYPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Gold Fund (GOLDX) and Rydex Precious Metals Fund (RYPMX). 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	RYPMX	Difference
Sharpe ratio Return per unit of total volatility	1.81	1.95	-0.14
Sortino ratio Return per unit of downside risk	2.16	2.25	-0.10
Omega ratio Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio Return relative to maximum drawdown	2.43	2.89	-0.46
Martin ratio Return relative to average drawdown	6.58	7.68	-1.10
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. RYPMX - Sharpe Ratio Comparison

The current GOLDX Sharpe Ratio is 1.81, which is comparable to the RYPMX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of GOLDX and RYPMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GOLDX	RYPMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.95	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.46	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.40	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.08	+0.15

Drawdowns

GOLDX vs. RYPMX - Drawdown Comparison

The maximum GOLDX drawdown since its inception was -73.40%, smaller than the maximum RYPMX drawdown of -81.25%. Use the drawdown chart below to compare losses from any high point for GOLDX and RYPMX.

Drawdown Indicators

	GOLDX	RYPMX	Difference
Max Drawdown Largest peak-to-trough decline	-73.40%	-81.25%	+7.85%
Max Drawdown (1Y) Largest decline over 1 year	-31.96%	-30.86%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-31.96%	-30.86%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-44.73%	-46.46%	+1.73%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-47.81%	-1.61%
Current Drawdown Current decline from peak	-25.93%	-23.10%	-2.83%
Average Drawdown Average peak-to-trough decline	-34.50%	-40.37%	+5.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.79%	11.62%	+0.17%

Volatility

GOLDX vs. RYPMX - Volatility Comparison

The current volatility for Gabelli Gold Fund (GOLDX) is 14.29%, while Rydex Precious Metals Fund (RYPMX) has a volatility of 15.05%. This indicates that GOLDX experiences smaller price fluctuations and is considered to be less risky than RYPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLDX	RYPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.29%	15.05%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	35.80%	37.54%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	42.68%	45.94%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.54%	36.93%	-4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.26%	37.18%	-4.92%

GOLDX vs. RYPMX - Expense Ratio Comparison

GOLDX has a 1.51% expense ratio, which is higher than RYPMX's 1.26% expense ratio.

Dividends

GOLDX vs. RYPMX - Dividend Comparison

GOLDX's dividend yield for the trailing twelve months is around 15.41%, more than RYPMX's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOLDX Gabelli Gold Fund	15.41%	15.57%	2.11%	1.13%	0.00%	0.00%	1.69%	0.83%	0.34%	0.51%	2.18%	0.00%
RYPMX Rydex Precious Metals Fund	2.83%	3.01%	0.00%	3.51%	7.15%	6.39%	1.06%	2.08%	1.35%	5.53%	4.04%	0.58%

Frequently Asked Questions

Can I hold both GOLDX and RYPMX in my portfolio?

With a correlation of 0.94, GOLDX and RYPMX 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.

Which is riskier, GOLDX or RYPMX?

RYPMX has higher volatility (15.05%) compared to GOLDX (14.29%). In terms of maximum drawdown, GOLDX dropped -73.40% vs RYPMX's -81.25%.

Which has better risk-adjusted returns?

RYPMX currently has the higher Sharpe Ratio (1.95 vs 1.81), 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.