PGGAX vs. CAEIX

Last updated Jun 26, 2026

PGGAX (American Funds Global Growth Portfolio Class A) and CAEIX (Calvert Global Energy Solutions Fund) are both Global Equities funds. Over the past 10 years, PGGAX returned 12.81%/yr vs 11.95%/yr for CAEIX. Their correlation of 0.86 suggests significant overlap in exposure. PGGAX charges 0.78%/yr vs 0.99%/yr for CAEIX.

Performance

PGGAX vs. CAEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Global Growth Portfolio Class A (PGGAX) and Calvert Global Energy Solutions Fund (CAEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGGAX achieves a 10.75% return, which is significantly lower than CAEIX's 15.02% return. Over the past 10 years, PGGAX has outperformed CAEIX with an annualized return of 12.81%, while CAEIX has yielded a comparatively lower 11.95% annualized return.

PGGAX

• 1D: -0.14%
• 1M: -0.31%
• YTD: 10.75%
• 6M: 10.02%
• 1Y: 24.43%
• 3Y*: 19.76%
• 5Y*: 8.13%
• 10Y*: 12.81%

CAEIX

• 1D: -0.31%
• 1M: -6.29%
• YTD: 15.02%
• 6M: 13.96%
• 1Y: 35.66%
• 3Y*: 12.01%
• 5Y*: 4.80%
• 10Y*: 11.95%

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

PGGAX vs. CAEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGGAX American Funds Global Growth Portfolio Class A	10.75%	23.05%	14.85%	24.09%	-25.77%	12.98%	27.38%	27.93%	-8.97%	28.63%
CAEIX Calvert Global Energy Solutions Fund	15.02%	32.61%	-7.13%	5.67%	-17.43%	6.73%	61.52%	33.48%	-19.26%	29.65%

Correlation

The correlation between PGGAX and CAEIX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since May 21, 2012	0.86

The correlation between PGGAX and CAEIX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

PGGAX vs. CAEIX — Risk / Return Rank

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

PGGAX

PGGAX Risk / Return Rank: 46
PGGAX Sharpe Ratio Rank: 44
PGGAX Sortino Ratio Rank: 41
PGGAX Omega Ratio Rank: 44
PGGAX Calmar Ratio Rank: 44
PGGAX Martin Ratio Rank: 55

CAEIX

CAEIX Risk / Return Rank: 74
CAEIX Sharpe Ratio Rank: 71
CAEIX Sortino Ratio Rank: 62
CAEIX Omega Ratio Rank: 62
CAEIX Calmar Ratio Rank: 91
CAEIX Martin Ratio Rank: 84

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.

PGGAX vs. CAEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Global Growth Portfolio Class A (PGGAX) and Calvert Global Energy Solutions Fund (CAEIX). 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.

	PGGAX	CAEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.04	-0.46
Sortino ratio: Return per unit of downside risk	2.20	2.69	-0.49
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.16	4.20	-2.04
Martin ratio: Return relative to average drawdown	9.33	13.12	-3.80

PGGAX vs. CAEIX - Sharpe Ratio Comparison

The current PGGAX Sharpe Ratio is 1.58, which is comparable to the CAEIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PGGAX and CAEIX, 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

PGGAX vs. CAEIX - Drawdown Comparison

The maximum PGGAX drawdown since its inception was -34.41%, smaller than the maximum CAEIX drawdown of -75.81%. Use the drawdown chart below to compare losses from any high point for PGGAX and CAEIX.

Drawdown Indicators

	PGGAX	CAEIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.41%	-75.81%	+41.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-8.39%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	-17.99%	-24.57%	+6.58%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-32.58%	-1.83%
Max Drawdown (10Y) Largest decline over 10 years	-34.41%	-37.54%	+3.13%
Current Drawdown Current decline from peak	-2.48%	-6.57%	+4.09%
Average Drawdown Average peak-to-trough decline	-5.89%	-48.49%	+42.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.68%	-0.07%

Volatility

PGGAX vs. CAEIX - Volatility Comparison

American Funds Global Growth Portfolio Class A (PGGAX) and Calvert Global Energy Solutions Fund (CAEIX) have volatilities of 6.89% and 7.06%, 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

	PGGAX	CAEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	7.06%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.04%	14.13%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	17.39%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	19.36%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	19.61%	-2.32%

PGGAX vs. CAEIX - Expense Ratio Comparison

PGGAX has a 0.78% expense ratio, which is lower than CAEIX's 0.99% expense ratio.

Dividends

PGGAX vs. CAEIX - Dividend Comparison

PGGAX's dividend yield for the trailing twelve months is around 5.06%, more than CAEIX's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAEIX Calvert Global Energy Solutions Fund	0.63%	0.72%	1.17%	1.07%	0.86%	0.49%	0.82%	1.23%	2.00%	1.40%	1.79%	0.72%
PGGAX American Funds Global Growth Portfolio Class A	5.06%	5.61%	4.31%	0.95%	7.97%	3.34%	0.78%	4.90%	5.69%	6.22%	3.70%	3.98%

Frequently Asked Questions

Can I hold both PGGAX and CAEIX in my portfolio?

PGGAX and CAEIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGGAX or CAEIX?

CAEIX has higher volatility (7.06%) compared to PGGAX (6.89%). In terms of maximum drawdown, PGGAX dropped -34.41% vs CAEIX's -75.81%.

Which has better risk-adjusted returns?

CAEIX currently has the higher Sharpe Ratio (2.04 vs 1.58), 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.