OCMAX vs. USG

Last updated Aug 4, 2026

OCMAX (OCM Gold Fund - Atlas Class) and USG (USCF Gold Strategy Plus Income Fund) are both Gold funds. Both are actively managed. Over the past 3 years, OCMAX returned 47.85%/yr vs 23.45%/yr for USG. Their 0.66 correlation means they have sometimes moved together and sometimes differently. OCMAX charges 1.88%/yr vs 0.45%/yr for USG.

Performance

OCMAX vs. USG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OCM Gold Fund - Atlas Class (OCMAX) and USCF Gold Strategy Plus Income Fund (USG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCMAX achieves a -7.59% return, which is significantly lower than USG's -6.20% return.

OCMAX

• 1D: -2.92%
• 1M: -4.83%
• 6M: -14.53%
• YTD: -7.59%
• 1Y: 53.97%
• 3Y*: 47.85%
• 5Y*: 19.26%
• 10Y*: 13.66%
• ALL TIME*: 7.20%

USG

• 1D: 0.20%
• 1M: -1.47%
• 6M: -11.69%
• YTD: -6.20%
• 1Y: 15.50%
• 3Y*: 23.45%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OCMAX OCM Gold Fund - Atlas Class	$0.00	$0.00	$0.00
USG USCF Gold Strategy Plus Income Fund	$360.35K	$283.88K	$177.43K

OCMAX vs. USG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OCMAX OCM Gold Fund - Atlas Class	-7.59%	168.37%	23.87%	4.82%	-17.28%	2.25%
USG USCF Gold Strategy Plus Income Fund	-6.20%	52.02%	23.70%	8.49%	2.12%	3.50%

Correlation

The correlation between OCMAX and USG is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021	0.66

The correlation between OCMAX and USG shifts across timeframes, from 0.66 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OCMAX vs. USG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OCMAX

OCMAX Risk / Return Rank: 36
OCMAX Sharpe Ratio Rank: 41
OCMAX Sortino Ratio Rank: 35
OCMAX Omega Ratio Rank: 39
OCMAX Calmar Ratio Rank: 39
OCMAX Martin Ratio Rank: 25

USG

USG Risk / Return Rank: 14
USG Sharpe Ratio Rank: 14
USG Sortino Ratio Rank: 14
USG Omega Ratio Rank: 19
USG Calmar Ratio Rank: 12
USG Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OCMAX vs. USG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OCM Gold Fund - Atlas Class (OCMAX) and USCF Gold Strategy Plus Income Fund (USG). 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.

	OCMAX	USG	Difference
Sharpe ratio: Return per unit of total volatility	1.33	0.63	+0.70
Sortino ratio: Return per unit of downside risk	1.75	0.95	+0.80
Omega ratio: Gain probability vs. loss probability	1.24	1.14	+0.10
Calmar ratio: Return relative to maximum drawdown	1.73	0.63	+1.10
Martin ratio: Return relative to average drawdown	3.83	1.39	+2.45

OCMAX vs. USG - Sharpe Ratio Comparison

The current OCMAX Sharpe Ratio is 1.33, which is higher than the USG Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of OCMAX and USG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OCMAX vs. USG - Drawdown Comparison

The maximum OCMAX drawdown since its inception was -76.26%, which is greater than USG's maximum drawdown of -24.86%. Use the drawdown chart below to compare losses from any high point for OCMAX and USG.

Drawdown Indicators

	OCMAX	USG	Difference
Max Drawdown Largest peak-to-trough decline	-76.26%	-24.86%	-51.40%
Max Drawdown (1Y) Largest decline over 1 year	-32.45%	-24.86%	-7.59%
Max Drawdown (3Y) Largest decline over 3 years	-32.45%	-24.86%	-7.59%
Max Drawdown (5Y) Largest decline over 5 years	-44.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.14%	—	—
Current Drawdown Current decline from peak	-29.60%	-23.35%	-6.25%
Average Drawdown Average peak-to-trough decline	-36.05%	-4.95%	-31.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.60%	11.20%	+3.40%

Volatility

OCMAX vs. USG - Volatility Comparison

OCM Gold Fund - Atlas Class (OCMAX) has a higher volatility of 12.33% compared to USCF Gold Strategy Plus Income Fund (USG) at 5.82%. This indicates that OCMAX's price experiences larger fluctuations and is considered to be riskier than USG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCMAX	USG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.33%	5.82%	+6.51%
Volatility (6M) Calculated over the trailing 6-month period	35.46%	19.72%	+15.74%
Volatility (1Y) Calculated over the trailing 1-year period	42.22%	24.81%	+17.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.06%	16.23%	+18.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.01%	16.23%	+17.78%

OCMAX vs. USG - Expense Ratio Comparison

OCMAX has a 1.88% expense ratio, which is higher than USG's 0.45% expense ratio.

Dividends

OCMAX vs. USG - Dividend Comparison

OCMAX's dividend yield for the trailing twelve months is around 6.40%, less than USG's 29.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OCMAX OCM Gold Fund - Atlas Class	6.40%	5.91%	2.97%	0.00%	0.04%	0.95%	1.44%	5.66%	24.55%	6.72%	18.48%	0.05%
USG USCF Gold Strategy Plus Income Fund	29.71%	27.33%	7.48%	8.16%	2.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OCMAX and USG in my portfolio?

OCMAX and USG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCMAX or USG?

OCMAX has higher volatility (12.33%) compared to USG (5.82%). In terms of maximum drawdown, OCMAX dropped -76.26% vs USG's -24.86%.

Which has better risk-adjusted returns?

OCMAX currently has the higher Sharpe Ratio (1.33 vs 0.63), 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.