INIVX vs. SGDLX

Last updated Jun 4, 2026

INIVX (VanEck International Investors Gold Fund) and SGDLX (Sprott Gold Equity Fund) are both Precious Metals funds. Over the past 5 years, INIVX returned 21.66%/yr vs 19.22%/yr for SGDLX. With a 0.96 correlation, they move nearly in lockstep. INIVX charges 1.42%/yr vs 1.44%/yr for SGDLX.

Performance

INIVX vs. SGDLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck International Investors Gold Fund (INIVX) and Sprott Gold Equity Fund (SGDLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INIVX achieves a 7.71% return, which is significantly higher than SGDLX's 3.90% return.

INIVX

• 1D: 1.30%
• 1M: 2.41%
• YTD: 7.71%
• 6M: 16.89%
• 1Y: 78.67%
• 3Y*: 48.46%
• 5Y*: 21.66%
• 10Y*: 15.45%

SGDLX

• 1D: 0.95%
• 1M: 2.96%
• YTD: 3.90%
• 6M: 13.04%
• 1Y: 67.58%
• 3Y*: 43.43%
• 5Y*: 19.22%
• 10Y*: —

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

INIVX vs. SGDLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
INIVX VanEck International Investors Gold Fund	7.71%	165.88%	14.37%	9.67%	-13.77%	-14.23%	41.05%
SGDLX Sprott Gold Equity Fund	3.90%	147.67%	20.58%	1.91%	-13.21%	-11.79%	35.30%

Correlation

The correlation between INIVX and SGDLX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 22, 2020	0.96

The correlation between INIVX and SGDLX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

INIVX vs. SGDLX — Risk / Return Rank

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

INIVX

INIVX Risk / Return Rank: 36
INIVX Sharpe Ratio Rank: 37
INIVX Sortino Ratio Rank: 25
INIVX Omega Ratio Rank: 35
INIVX Calmar Ratio Rank: 49
INIVX Martin Ratio Rank: 32

SGDLX

SGDLX Risk / Return Rank: 32
SGDLX Sharpe Ratio Rank: 36
SGDLX Sortino Ratio Rank: 25
SGDLX Omega Ratio Rank: 33
SGDLX Calmar Ratio Rank: 41
SGDLX Martin Ratio Rank: 25

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.

INIVX vs. SGDLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck International Investors Gold Fund (INIVX) and Sprott Gold Equity Fund (SGDLX). 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.

	INIVX	SGDLX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.75	+0.01
Sortino ratio: Return per unit of downside risk	2.10	2.10	0.00
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	2.65	2.42	+0.22
Martin ratio: Return relative to average drawdown	7.36	6.15	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INIVX vs. SGDLX - Sharpe Ratio Comparison

The current INIVX Sharpe Ratio is 1.75, which is comparable to the SGDLX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of INIVX and SGDLX, 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

	INIVX	SGDLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.75	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.61	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.61	-0.34

Drawdowns

INIVX vs. SGDLX - Drawdown Comparison

The maximum INIVX drawdown since its inception was -78.96%, which is greater than SGDLX's maximum drawdown of -47.59%. Use the drawdown chart below to compare losses from any high point for INIVX and SGDLX.

Drawdown Indicators

	INIVX	SGDLX	Difference
Max Drawdown Largest peak-to-trough decline	-78.96%	-47.59%	-31.37%
Max Drawdown (1Y) Largest decline over 1 year	-29.60%	-28.77%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-29.60%	-28.77%	-0.83%
Max Drawdown (5Y) Largest decline over 5 years	-44.66%	-42.98%	-1.68%
Max Drawdown (10Y) Largest decline over 10 years	-51.20%	—	—
Current Drawdown Current decline from peak	-20.95%	-21.78%	+0.83%
Average Drawdown Average peak-to-trough decline	-37.77%	-18.29%	-19.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.62%	11.31%	-0.69%

Volatility

INIVX vs. SGDLX - Volatility Comparison

VanEck International Investors Gold Fund (INIVX) has a higher volatility of 14.11% compared to Sprott Gold Equity Fund (SGDLX) at 13.40%. This indicates that INIVX's price experiences larger fluctuations and is considered to be riskier than SGDLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INIVX	SGDLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.11%	13.40%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	37.74%	33.53%	+4.21%
Volatility (1Y) Calculated over the trailing 1-year period	44.95%	40.21%	+4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.18%	31.60%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.99%	33.86%	+0.13%

INIVX vs. SGDLX - Expense Ratio Comparison

INIVX has a 1.42% expense ratio, which is lower than SGDLX's 1.44% expense ratio.

Dividends

INIVX vs. SGDLX - Dividend Comparison

INIVX's dividend yield for the trailing twelve months is around 5.58%, more than SGDLX's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
INIVX VanEck International Investors Gold Fund	5.58%	6.01%	7.45%	0.10%	0.00%	6.40%	11.70%	3.66%	2.87%	3.76%	6.40%
SGDLX Sprott Gold Equity Fund	0.64%	0.67%	0.00%	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INIVX and SGDLX in my portfolio?

With a correlation of 0.96, INIVX and SGDLX 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, INIVX or SGDLX?

INIVX has higher volatility (14.11%) compared to SGDLX (13.40%). In terms of maximum drawdown, INIVX dropped -78.96% vs SGDLX's -47.59%.

Which has better risk-adjusted returns?

INIVX currently has the higher Sharpe Ratio (1.75 vs 1.75), 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.