MIDSX vs. SGDLX
MIDSX (Midas Fund) and SGDLX (Sprott Gold Equity Fund) are both mutual funds - MIDSX is a Precious Metals fund managed by Midas, while SGDLX is a Gold fund managed by Sprott. Over the past 5 years, MIDSX returned 20.01%/yr vs 19.76%/yr for SGDLX. Their correlation of 0.94 suggests significant overlap in exposure. MIDSX charges 4.25%/yr vs 1.44%/yr for SGDLX.
Performance
MIDSX vs. SGDLX - Performance Comparison
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Returns By Period
In the year-to-date period, MIDSX achieves a -0.86% return, which is significantly higher than SGDLX's -2.59% return.
MIDSX
- 1D
- -0.29%
- 1M
- -5.21%
- YTD
- -0.86%
- 6M
- -5.72%
- 1Y
- 63.21%
- 3Y*
- 46.08%
- 5Y*
- 20.01%
- 10Y*
- 9.79%
SGDLX
- 1D
- -0.76%
- 1M
- -2.10%
- YTD
- -2.59%
- 6M
- -7.06%
- 1Y
- 61.32%
- 3Y*
- 43.77%
- 5Y*
- 19.76%
- 10Y*
- —
MIDSX vs. SGDLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MIDSX Midas Fund | -0.86% | 195.76% | 7.27% | -1.79% | -11.11% | -19.23% | 13.04% |
SGDLX Sprott Gold Equity Fund | -2.59% | 147.67% | 20.58% | 1.91% | -13.21% | -11.79% | 35.30% |
Correlation
The correlation between MIDSX and SGDLX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.94 |
The correlation between MIDSX and SGDLX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
MIDSX vs. SGDLX — Risk / Return Rank
MIDSX
SGDLX
MIDSX vs. SGDLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Midas Fund (MIDSX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MIDSX | SGDLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.83 | -0.12 |
| Martin ratioReturn relative to average drawdown | 4.99 | 4.85 | +0.14 |
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Drawdowns
MIDSX vs. SGDLX - Drawdown Comparison
The maximum MIDSX drawdown since its inception was -89.77%, which is greater than SGDLX's maximum drawdown of -47.59%. Use the drawdown chart below to compare losses from any high point for MIDSX and SGDLX.
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Drawdown Indicators
| MIDSX | SGDLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.77% | -47.59% | -42.18% |
Max Drawdown (1Y)Largest decline over 1 year | -37.99% | -33.98% | -4.01% |
Max Drawdown (3Y)Largest decline over 3 years | -37.99% | -33.98% | -4.01% |
Max Drawdown (5Y)Largest decline over 5 years | -43.33% | -42.98% | -0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -57.07% | — | — |
Current DrawdownCurrent decline from peak | -42.94% | -26.67% | -16.27% |
Average DrawdownAverage peak-to-trough decline | -63.48% | -18.35% | -45.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.02% | 12.80% | +0.22% |
Volatility
MIDSX vs. SGDLX - Volatility Comparison
Midas Fund (MIDSX) has a higher volatility of 17.82% compared to Sprott Gold Equity Fund (SGDLX) at 16.04%. This indicates that MIDSX'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.
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Volatility by Period
| MIDSX | SGDLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.82% | 16.04% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 39.39% | 36.04% | +3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.22% | 42.26% | +3.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.04% | 32.07% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.61% | 34.17% | -0.56% |
MIDSX vs. SGDLX - Expense Ratio Comparison
MIDSX has a 4.25% expense ratio, which is higher than SGDLX's 1.44% expense ratio.
Dividends
MIDSX vs. SGDLX - Dividend Comparison
MIDSX has not paid dividends to shareholders, while SGDLX's dividend yield for the trailing twelve months is around 0.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MIDSX Midas Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGDLX Sprott Gold Equity Fund | 0.69% | 0.67% | 0.00% | 0.00% | 0.12% |
Frequently Asked Questions
With a correlation of 0.97, MIDSX 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.
MIDSX has higher volatility (17.82%) compared to SGDLX (16.04%). In terms of maximum drawdown, MIDSX dropped -89.77% vs SGDLX's -47.59%.
SGDLX currently has the higher Sharpe Ratio (1.47 vs 1.41), 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.
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