OCMGX vs. USERX

Last updated Jun 3, 2026

OCMGX (OCM Gold Fund) and USERX (U.S. Global Investors Gold & Precious Metals Fund) are both Precious Metals funds. Over the past 10 years, OCMGX returned 17.45%/yr vs 15.38%/yr for USERX. Their correlation of 0.84 suggests significant overlap in exposure. OCMGX charges 2.32%/yr vs 1.52%/yr for USERX.

Performance

OCMGX vs. USERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OCM Gold Fund (OCMGX) and U.S. Global Investors Gold & Precious Metals Fund (USERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCMGX achieves a 7.60% return, which is significantly higher than USERX's 4.58% return. Over the past 10 years, OCMGX has outperformed USERX with an annualized return of 17.45%, while USERX has yielded a comparatively lower 15.38% annualized return.

OCMGX

• 1D: -2.35%
• 1M: 2.20%
• YTD: 7.60%
• 6M: 17.18%
• 1Y: 71.97%
• 3Y*: 51.52%
• 5Y*: 20.11%
• 10Y*: 17.45%

USERX

• 1D: 1.42%
• 1M: 4.23%
• YTD: 4.58%
• 6M: 12.99%
• 1Y: 75.95%
• 3Y*: 48.36%
• 5Y*: 18.56%
• 10Y*: 15.38%

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

OCMGX vs. USERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OCMGX OCM Gold Fund	7.60%	167.05%	23.15%	4.21%	-17.71%	-9.67%	44.28%	56.74%	-13.84%	9.70%
USERX U.S. Global Investors Gold & Precious Metals Fund	4.58%	167.44%	16.75%	1.44%	-17.44%	-10.80%	37.16%	51.34%	-14.24%	13.07%

Correlation

The correlation between OCMGX and USERX 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	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 4, 1988	0.84

The correlation between OCMGX and USERX shifts across timeframes, from 0.84 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OCMGX vs. USERX — Risk / Return Rank

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

OCMGX

OCMGX Risk / Return Rank: 45
OCMGX Sharpe Ratio Rank: 50
OCMGX Sortino Ratio Rank: 33
OCMGX Omega Ratio Rank: 42
OCMGX Calmar Ratio Rank: 61
OCMGX Martin Ratio Rank: 38

USERX

USERX Risk / Return Rank: 32
USERX Sharpe Ratio Rank: 37
USERX Sortino Ratio Rank: 25
USERX Omega Ratio Rank: 32
USERX Calmar Ratio Rank: 41
USERX Martin Ratio Rank: 25

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.

OCMGX vs. USERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OCM Gold Fund (OCMGX) and U.S. Global Investors Gold & Precious Metals Fund (USERX). 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.

	OCMGX	USERX	Difference
Sharpe ratio Return per unit of total volatility	2.09	1.77	+0.33
Sortino ratio Return per unit of downside risk	2.42	2.10	+0.32
Omega ratio Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio Return relative to maximum drawdown	3.02	2.42	+0.60
Martin ratio Return relative to average drawdown	8.52	6.24	+2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCMGX vs. USERX - Sharpe Ratio Comparison

The current OCMGX Sharpe Ratio is 2.09, which is comparable to the USERX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of OCMGX and USERX, 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

	OCMGX	USERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.77	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.56	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.45	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.01	+0.12

Drawdowns

OCMGX vs. USERX - Drawdown Comparison

The maximum OCMGX drawdown since its inception was -84.47%, smaller than the maximum USERX drawdown of -97.74%. Use the drawdown chart below to compare losses from any high point for OCMGX and USERX.

Drawdown Indicators

	OCMGX	USERX	Difference
Max Drawdown Largest peak-to-trough decline	-84.47%	-97.74%	+13.27%
Max Drawdown (1Y) Largest decline over 1 year	-27.33%	-32.20%	+4.87%
Max Drawdown (3Y) Largest decline over 3 years	-27.33%	-32.20%	+4.87%
Max Drawdown (5Y) Largest decline over 5 years	-45.55%	-43.45%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-45.55%	-43.45%	-2.10%
Current Drawdown Current decline from peak	-17.95%	-42.81%	+24.86%
Average Drawdown Average peak-to-trough decline	-41.16%	-75.03%	+33.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.67%	12.46%	-2.79%

Volatility

OCMGX vs. USERX - Volatility Comparison

OCM Gold Fund (OCMGX) and U.S. Global Investors Gold & Precious Metals Fund (USERX) have volatilities of 13.64% and 14.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCMGX	USERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.64%	14.30%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	31.59%	36.60%	-5.01%
Volatility (1Y) Calculated over the trailing 1-year period	38.82%	44.33%	-5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.33%	33.19%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.85%	33.96%	-0.11%

OCMGX vs. USERX - Expense Ratio Comparison

OCMGX has a 2.32% expense ratio, which is higher than USERX's 1.52% expense ratio.

Dividends

OCMGX vs. USERX - Dividend Comparison

OCMGX's dividend yield for the trailing twelve months is around 6.04%, more than USERX's 5.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OCMGX OCM Gold Fund	6.04%	6.50%	2.88%	0.00%	0.05%	1.07%	0.98%	6.33%	26.98%	7.19%	19.53%	0.05%
USERX U.S. Global Investors Gold & Precious Metals Fund	5.55%	2.95%	1.48%	0.00%	0.00%	2.13%	2.68%	0.00%	1.76%	0.00%	0.88%	0.47%

Frequently Asked Questions

Can I hold both OCMGX and USERX in my portfolio?

With a correlation of 0.97, OCMGX and USERX 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.

Which is riskier, OCMGX or USERX?

USERX has higher volatility (14.30%) compared to OCMGX (13.64%). In terms of maximum drawdown, OCMGX dropped -84.47% vs USERX's -97.74%.

Which has better risk-adjusted returns?

OCMGX currently has the higher Sharpe Ratio (2.09 vs 1.77), 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.