PAGRX vs. GLEIX

Last updated Jun 25, 2026

PAGRX (Permanent Portfolio Aggressive Growth Portfolio) and GLEIX (Goldman Sachs Energy Infrastructure Fund) are both mutual funds - PAGRX is a Large Cap Blend Equities fund managed by Permanent Portfolio, while GLEIX is a Energy Equities fund managed by Goldman Sachs. Over the past 5 years, PAGRX returned 17.82%/yr vs 23.23%/yr for GLEIX. A 0.53 correlation means they provide meaningful diversification when combined. PAGRX charges 1.21%/yr vs 1.23%/yr for GLEIX.

Performance

PAGRX vs. GLEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and Goldman Sachs Energy Infrastructure Fund (GLEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAGRX achieves a 8.50% return, which is significantly lower than GLEIX's 23.92% return.

PAGRX

• 1D: -1.90%
• 1M: -0.60%
• YTD: 8.50%
• 6M: 5.89%
• 1Y: 29.20%
• 3Y*: 36.29%
• 5Y*: 17.82%
• 10Y*: 20.55%

GLEIX

• 1D: 1.45%
• 1M: -4.16%
• YTD: 23.92%
• 6M: 24.21%
• 1Y: 26.76%
• 3Y*: 33.51%
• 5Y*: 23.23%
• 10Y*: —

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

PAGRX vs. GLEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGRX Permanent Portfolio Aggressive Growth Portfolio	8.50%	36.92%	44.52%	38.73%	-26.06%	24.84%	37.65%	40.34%	-12.41%	4.46%
GLEIX Goldman Sachs Energy Infrastructure Fund	23.92%	5.30%	58.18%	15.08%	18.96%	38.31%	-17.46%	16.95%	-15.17%	6.98%

Correlation

The correlation between PAGRX and GLEIX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Oct 23, 2017	0.53

Over the past year, the correlation between PAGRX and GLEIX has dropped to 0.04 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

PAGRX vs. GLEIX — Risk / Return Rank

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

PAGRX

PAGRX Risk / Return Rank: 56
PAGRX Sharpe Ratio Rank: 43
PAGRX Sortino Ratio Rank: 39
PAGRX Omega Ratio Rank: 38
PAGRX Calmar Ratio Rank: 81
PAGRX Martin Ratio Rank: 77

GLEIX

GLEIX Risk / Return Rank: 57
GLEIX Sharpe Ratio Rank: 54
GLEIX Sortino Ratio Rank: 50
GLEIX Omega Ratio Rank: 46
GLEIX Calmar Ratio Rank: 86
GLEIX Martin Ratio Rank: 48

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.

PAGRX vs. GLEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Aggressive Growth Portfolio (PAGRX) and Goldman Sachs Energy Infrastructure Fund (GLEIX). 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.

	PAGRX	GLEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.90	-0.13
Sortino ratio: Return per unit of downside risk	2.41	2.61	-0.20
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	3.50	3.84	-0.35
Martin ratio: Return relative to average drawdown	13.36	9.03	+4.34

PAGRX vs. GLEIX - Sharpe Ratio Comparison

The current PAGRX Sharpe Ratio is 1.77, which is comparable to the GLEIX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PAGRX and GLEIX, 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

PAGRX vs. GLEIX - Drawdown Comparison

The maximum PAGRX drawdown since its inception was -55.87%, smaller than the maximum GLEIX drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for PAGRX and GLEIX.

Drawdown Indicators

	PAGRX	GLEIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-59.27%	+3.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-7.29%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-26.34%	-17.07%	-9.27%
Max Drawdown (5Y) Largest decline over 5 years	-36.52%	-21.89%	-14.63%
Max Drawdown (10Y) Largest decline over 10 years	-38.01%	—	—
Current Drawdown Current decline from peak	-6.72%	-4.45%	-2.27%
Average Drawdown Average peak-to-trough decline	-10.04%	-8.51%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	3.09%	-0.70%

Volatility

PAGRX vs. GLEIX - Volatility Comparison

Permanent Portfolio Aggressive Growth Portfolio (PAGRX) has a higher volatility of 7.30% compared to Goldman Sachs Energy Infrastructure Fund (GLEIX) at 5.56%. This indicates that PAGRX's price experiences larger fluctuations and is considered to be riskier than GLEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGRX	GLEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	5.56%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	13.73%	11.33%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	14.76%	+3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.59%	20.58%	+4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	25.42%	-0.88%

PAGRX vs. GLEIX - Expense Ratio Comparison

PAGRX has a 1.21% expense ratio, which is lower than GLEIX's 1.23% expense ratio.

Dividends

PAGRX vs. GLEIX - Dividend Comparison

PAGRX's dividend yield for the trailing twelve months is around 0.03%, less than GLEIX's 8.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLEIX Goldman Sachs Energy Infrastructure Fund	8.07%	10.00%	25.43%	10.22%	4.70%	8.41%	4.17%	4.83%	3.54%	0.68%	0.00%	0.00%
PAGRX Permanent Portfolio Aggressive Growth Portfolio	0.03%	0.03%	5.62%	2.72%	7.79%	6.82%	15.08%	17.51%	12.33%	8.70%	16.94%	6.31%

Frequently Asked Questions

Can I hold both PAGRX and GLEIX in my portfolio?

PAGRX and GLEIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAGRX or GLEIX?

PAGRX has higher volatility (7.30%) compared to GLEIX (5.56%). In terms of maximum drawdown, PAGRX dropped -55.87% vs GLEIX's -59.27%.

Which has better risk-adjusted returns?

GLEIX currently has the higher Sharpe Ratio (1.90 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.