NEARX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about U.S. Global Investors Near-Term Tax Free Fund (NEARX) and S&P 500 Index (^GSPC).

NEARX is managed by US Global. It was launched on Dec 3, 1990.

Performance

NEARX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Near-Term Tax Free Fund (NEARX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

NEARX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEARX U.S. Global Investors Near-Term Tax Free Fund	-0.09%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, NEARX achieves a -0.09% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, NEARX has underperformed ^GSPC with an annualized return of 1.01%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

NEARX

• 1D: 0.00%
• 1M: -0.94%
• YTD: -0.09%
• 6M: 0.07%
• 1Y: 2.28%
• 3Y*: 2.54%
• 5Y*: 0.66%
• 10Y*: 1.01%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

NEARX vs. ^GSPC — Risk / Return Rank

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

NEARX

NEARX Risk / Return Rank: 53
NEARX Sharpe Ratio Rank: 35
NEARX Sortino Ratio Rank: 38
NEARX Omega Ratio Rank: 81
NEARX Calmar Ratio Rank: 66
NEARX Martin Ratio Rank: 49

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

NEARX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Near-Term Tax Free Fund (NEARX) and S&P 500 Index (^GSPC). 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.

	NEARX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.87	0.92	-0.05
Sortino ratio Return per unit of downside risk	1.35	1.41	-0.07
Omega ratio Gain probability vs. loss probability	1.34	1.21	+0.12
Calmar ratio Return relative to maximum drawdown	1.75	1.41	+0.33
Martin ratio Return relative to average drawdown	5.59	6.61	-1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEARX vs. ^GSPC - Sharpe Ratio Comparison

The current NEARX Sharpe Ratio is 0.87, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of NEARX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NEARX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	0.92	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.61	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.68	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.46	-0.42

Correlation

The correlation between NEARX and ^GSPC is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

NEARX vs. ^GSPC - Drawdown Comparison

The maximum NEARX drawdown since its inception was -80.12%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NEARX and ^GSPC.

Drawdown Indicators

	NEARX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	-56.78%	-23.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-12.14%	+10.72%
Max Drawdown (5Y) Largest decline over 5 years	-6.91%	-25.43%	+18.52%
Max Drawdown (10Y) Largest decline over 10 years	-6.91%	-33.92%	+27.01%
Current Drawdown Current decline from peak	-1.41%	-5.78%	+4.37%
Average Drawdown Average peak-to-trough decline	-25.15%	-10.75%	-14.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	2.60%	-2.16%

Volatility

NEARX vs. ^GSPC - Volatility Comparison

The current volatility for U.S. Global Investors Near-Term Tax Free Fund (NEARX) is 0.95%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that NEARX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEARX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	5.37%	-4.42%
Volatility (6M) Calculated over the trailing 6-month period	1.53%	9.55%	-8.02%
Volatility (1Y) Calculated over the trailing 1-year period	2.64%	18.33%	-15.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.51%	16.90%	-14.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.56%	18.05%	-15.49%