MIDSX vs. OPGSX

Last updated Jun 4, 2026

MIDSX (Midas Fund) and OPGSX (Invesco Gold & Special Minerals Fund) are both Precious Metals funds. Over the past 10 years, MIDSX returned 11.17%/yr vs 15.19%/yr for OPGSX. Their correlation of 0.90 suggests significant overlap in exposure. MIDSX charges 4.25%/yr vs 1.05%/yr for OPGSX.

Performance

MIDSX vs. OPGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Midas Fund (MIDSX) and Invesco Gold & Special Minerals Fund (OPGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIDSX achieves a 5.73% return, which is significantly higher than OPGSX's 3.54% return. Over the past 10 years, MIDSX has underperformed OPGSX with an annualized return of 11.17%, while OPGSX has yielded a comparatively higher 15.19% annualized return.

MIDSX

• 1D: 0.27%
• 1M: -0.00%
• YTD: 5.73%
• 6M: 13.54%
• 1Y: 71.63%
• 3Y*: 45.42%
• 5Y*: 18.49%
• 10Y*: 11.17%

OPGSX

• 1D: 1.33%
• 1M: 1.97%
• YTD: 3.54%
• 6M: 10.42%
• 1Y: 57.81%
• 3Y*: 38.46%
• 5Y*: 16.13%
• 10Y*: 15.19%

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

MIDSX vs. OPGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIDSX Midas Fund	5.73%	195.76%	7.27%	-1.79%	-11.11%	-19.23%	10.64%	30.56%	-12.90%	5.98%
OPGSX Invesco Gold & Special Minerals Fund	3.54%	131.03%	13.05%	6.35%	-16.86%	-2.75%	36.15%	46.37%	-13.15%	17.17%

Correlation

The correlation between MIDSX and OPGSX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 10, 1995	0.90

The correlation between MIDSX and OPGSX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

MIDSX vs. OPGSX — Risk / Return Rank

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

MIDSX

MIDSX Risk / Return Rank: 31
MIDSX Sharpe Ratio Rank: 34
MIDSX Sortino Ratio Rank: 24
MIDSX Omega Ratio Rank: 31
MIDSX Calmar Ratio Rank: 40
MIDSX Martin Ratio Rank: 27

OPGSX

OPGSX Risk / Return Rank: 28
OPGSX Sharpe Ratio Rank: 29
OPGSX Sortino Ratio Rank: 22
OPGSX Omega Ratio Rank: 27
OPGSX Calmar Ratio Rank: 36
OPGSX Martin Ratio Rank: 23

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.

MIDSX vs. OPGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Midas Fund (MIDSX) and Invesco Gold & Special Minerals Fund (OPGSX). 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.

	MIDSX	OPGSX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.54	+0.13
Sortino ratio: Return per unit of downside risk	2.04	1.98	+0.06
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.41	2.28	+0.13
Martin ratio: Return relative to average drawdown	6.46	5.89	+0.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIDSX vs. OPGSX - Sharpe Ratio Comparison

The current MIDSX Sharpe Ratio is 1.67, which is comparable to the OPGSX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MIDSX and OPGSX, 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

	MIDSX	OPGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.54	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.49	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.47	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.26	-0.27

Drawdowns

MIDSX vs. OPGSX - Drawdown Comparison

The maximum MIDSX drawdown since its inception was -89.77%, which is greater than OPGSX's maximum drawdown of -80.04%. Use the drawdown chart below to compare losses from any high point for MIDSX and OPGSX.

Drawdown Indicators

	MIDSX	OPGSX	Difference
Max Drawdown Largest peak-to-trough decline	-89.77%	-80.04%	-9.73%
Max Drawdown (1Y) Largest decline over 1 year	-30.18%	-29.01%	-1.17%
Max Drawdown (3Y) Largest decline over 3 years	-31.45%	-29.01%	-2.44%
Max Drawdown (5Y) Largest decline over 5 years	-46.54%	-47.09%	+0.55%
Max Drawdown (10Y) Largest decline over 10 years	-57.07%	-47.09%	-9.98%
Current Drawdown Current decline from peak	-39.14%	-22.32%	-16.82%
Average Drawdown Average peak-to-trough decline	-63.52%	-29.29%	-34.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.25%	10.74%	+0.51%

Volatility

MIDSX vs. OPGSX - Volatility Comparison

Midas Fund (MIDSX) has a higher volatility of 14.20% compared to Invesco Gold & Special Minerals Fund (OPGSX) at 13.17%. This indicates that MIDSX's price experiences larger fluctuations and is considered to be riskier than OPGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIDSX	OPGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.20%	13.17%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	36.23%	35.90%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	43.87%	43.24%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.53%	33.57%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.29%	32.88%	+0.41%

MIDSX vs. OPGSX - Expense Ratio Comparison

MIDSX has a 4.25% expense ratio, which is higher than OPGSX's 1.05% expense ratio.

Dividends

MIDSX vs. OPGSX - Dividend Comparison

MIDSX has not paid dividends to shareholders, while OPGSX's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MIDSX Midas Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OPGSX Invesco Gold & Special Minerals Fund	0.41%	0.43%	0.86%	0.81%	0.45%	3.56%	1.55%	0.29%	0.00%	2.78%	7.21%

Frequently Asked Questions

Can I hold both MIDSX and OPGSX in my portfolio?

MIDSX and OPGSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIDSX or OPGSX?

MIDSX has higher volatility (14.20%) compared to OPGSX (13.17%). In terms of maximum drawdown, MIDSX dropped -89.77% vs OPGSX's -80.04%.

Which has better risk-adjusted returns?

MIDSX currently has the higher Sharpe Ratio (1.67 vs 1.54), 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.