INIVX vs. UNWPX

Last updated Jun 4, 2026

INIVX (VanEck International Investors Gold Fund) and UNWPX (U.S. Global Investors World Precious Minerals Fund) are both Precious Metals funds. Over the past 10 years, INIVX returned 15.45%/yr vs 6.22%/yr for UNWPX. Their correlation of 0.85 suggests significant overlap in exposure. INIVX charges 1.42%/yr vs 1.53%/yr for UNWPX.

Performance

INIVX vs. UNWPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck International Investors Gold Fund (INIVX) and U.S. Global Investors World Precious Minerals Fund (UNWPX). 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 lower than UNWPX's 24.11% return. Over the past 10 years, INIVX has outperformed UNWPX with an annualized return of 15.45%, while UNWPX has yielded a comparatively lower 6.22% annualized 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%

UNWPX

• 1D: 1.37%
• 1M: 4.23%
• YTD: 24.11%
• 6M: 33.15%
• 1Y: 110.72%
• 3Y*: 38.33%
• 5Y*: 5.83%
• 10Y*: 6.22%

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

INIVX vs. UNWPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INIVX VanEck International Investors Gold Fund	7.71%	165.88%	14.37%	9.67%	-13.77%	-14.23%	40.91%	38.15%	-16.01%	13.06%
UNWPX U.S. Global Investors World Precious Minerals Fund	24.11%	136.32%	2.07%	-16.18%	-32.95%	-13.88%	70.83%	22.59%	-31.49%	-3.82%

Correlation

The correlation between INIVX and UNWPX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 29, 1985	0.85

The correlation between INIVX and UNWPX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

INIVX vs. UNWPX — 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

UNWPX

UNWPX Risk / Return Rank: 71
UNWPX Sharpe Ratio Rank: 84
UNWPX Sortino Ratio Rank: 52
UNWPX Omega Ratio Rank: 55
UNWPX Calmar Ratio Rank: 84
UNWPX Martin Ratio Rank: 80

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. UNWPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck International Investors Gold Fund (INIVX) and U.S. Global Investors World Precious Minerals Fund (UNWPX). 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	UNWPX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.72	-0.96
Sortino ratio: Return per unit of downside risk	2.10	3.02	-0.92
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.10
Calmar ratio: Return relative to maximum drawdown	2.65	3.98	-1.34
Martin ratio: Return relative to average drawdown	7.36	15.02	-7.65
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. UNWPX - Sharpe Ratio Comparison

The current INIVX Sharpe Ratio is 1.75, which is lower than the UNWPX Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of INIVX and UNWPX, 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	UNWPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	2.72	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.19	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.21	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.07	+0.20

Drawdowns

INIVX vs. UNWPX - Drawdown Comparison

The maximum INIVX drawdown since its inception was -78.96%, smaller than the maximum UNWPX drawdown of -83.78%. Use the drawdown chart below to compare losses from any high point for INIVX and UNWPX.

Drawdown Indicators

	INIVX	UNWPX	Difference
Max Drawdown Largest peak-to-trough decline	-78.96%	-83.78%	+4.82%
Max Drawdown (1Y) Largest decline over 1 year	-29.60%	-29.02%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-29.60%	-29.17%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-44.66%	-64.16%	+19.50%
Max Drawdown (10Y) Largest decline over 10 years	-51.20%	-69.19%	+17.99%
Current Drawdown Current decline from peak	-20.95%	-30.06%	+9.11%
Average Drawdown Average peak-to-trough decline	-37.77%	-49.49%	+11.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.62%	7.68%	+2.94%

Volatility

INIVX vs. UNWPX - Volatility Comparison

VanEck International Investors Gold Fund (INIVX) has a higher volatility of 14.11% compared to U.S. Global Investors World Precious Minerals Fund (UNWPX) at 13.21%. This indicates that INIVX's price experiences larger fluctuations and is considered to be riskier than UNWPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INIVX	UNWPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.11%	13.21%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	37.74%	35.73%	+2.01%
Volatility (1Y) Calculated over the trailing 1-year period	44.95%	42.64%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.18%	31.38%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.99%	30.41%	+3.58%

INIVX vs. UNWPX - Expense Ratio Comparison

INIVX has a 1.42% expense ratio, which is lower than UNWPX's 1.53% expense ratio.

Dividends

INIVX vs. UNWPX - Dividend Comparison

INIVX's dividend yield for the trailing twelve months is around 5.58%, less than UNWPX's 72.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
UNWPX U.S. Global Investors World Precious Minerals Fund	72.33%	5.95%	0.00%	0.00%	0.00%	71.74%	6.76%	0.00%	17.45%	28.55%	0.33%	9.84%

Frequently Asked Questions

Can I hold both INIVX and UNWPX in my portfolio?

INIVX and UNWPX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INIVX or UNWPX?

INIVX has higher volatility (14.11%) compared to UNWPX (13.21%). In terms of maximum drawdown, INIVX dropped -78.96% vs UNWPX's -83.78%.

Which has better risk-adjusted returns?

UNWPX currently has the higher Sharpe Ratio (2.71 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.