PRPFX vs. GAMPX

Last updated Aug 1, 2026

PRPFX (Permanent Portfolio Class I) and GAMPX (Goldman Sachs Energy Infrastructure Fund Class P) are both mutual funds - PRPFX is a Diversified Portfolio fund actively managed by Permanent Portfolio, while GAMPX is a Infrastructure Equities fund actively managed by Goldman Sachs. Both are actively managed. Over the past 5 years, PRPFX returned 10.89%/yr vs 25.01%/yr for GAMPX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. PRPFX charges 0.81%/yr vs 1.11%/yr for GAMPX.

Performance

PRPFX vs. GAMPX - Performance Comparison

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

Returns By Period

In the year-to-date period, PRPFX achieves a 2.08% return, which is significantly lower than GAMPX's 26.40% return.

PRPFX

• 1D: 0.71%
• 1M: -0.17%
• 6M: -2.57%
• YTD: 2.08%
• 1Y: 15.83%
• 3Y*: 17.56%
• 5Y*: 10.89%
• 10Y*: 9.97%
• ALL TIME*: 7.00%

GAMPX

• 1D: 0.25%
• 1M: 3.07%
• 6M: 17.53%
• YTD: 26.40%
• 1Y: 29.08%
• 3Y*: 30.28%
• 5Y*: 25.01%
• 10Y*: —
• ALL TIME*: 15.97%

*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)
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	$0.00	$0.00	$0.00
PRPFX Permanent Portfolio Class I	$0.00	$0.00	$0.00

PRPFX vs. GAMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PRPFX Permanent Portfolio Class I	2.08%	28.78%	19.36%	11.96%	-5.48%	10.87%	18.80%	19.20%	-6.30%
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	26.40%	5.43%	58.40%	15.11%	19.15%	38.33%	-17.23%	17.00%	-12.69%

Correlation

The correlation between PRPFX and GAMPX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.53
Correlation (All Time) Calculated using the full available price history since May 7, 2018	0.57

Over the past year, the correlation between PRPFX and GAMPX has dropped to 0.04 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Return for Risk

PRPFX vs. GAMPX — Risk / Return Rank

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

PRPFX

PRPFX Risk / Return Rank: 38
PRPFX Sharpe Ratio Rank: 42
PRPFX Sortino Ratio Rank: 34
PRPFX Omega Ratio Rank: 48
PRPFX Calmar Ratio Rank: 41
PRPFX Martin Ratio Rank: 26

GAMPX

GAMPX Risk / Return Rank: 82
GAMPX Sharpe Ratio Rank: 83
GAMPX Sortino Ratio Rank: 79
GAMPX Omega Ratio Rank: 76
GAMPX Calmar Ratio Rank: 94
GAMPX Martin Ratio Rank: 76

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.

PRPFX vs. GAMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Permanent Portfolio Class I (PRPFX) and Goldman Sachs Energy Infrastructure Fund Class P (GAMPX). 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.

	PRPFX	GAMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	2.02	-0.83
Sortino ratio: Return per unit of downside risk	1.52	2.78	-1.25
Omega ratio: Gain probability vs. loss probability	1.23	1.34	-0.11
Calmar ratio: Return relative to maximum drawdown	1.60	4.16	-2.56
Martin ratio: Return relative to average drawdown	3.56	9.47	-5.91

PRPFX vs. GAMPX - Sharpe Ratio Comparison

The current PRPFX Sharpe Ratio is 1.19, which is lower than the GAMPX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of PRPFX and GAMPX, 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

PRPFX vs. GAMPX - Drawdown Comparison

The maximum PRPFX drawdown since its inception was -27.16%, smaller than the maximum GAMPX drawdown of -59.18%. Use the drawdown chart below to compare losses from any high point for PRPFX and GAMPX.

Drawdown Indicators

	PRPFX	GAMPX	Difference
Max Drawdown Largest peak-to-trough decline	-27.16%	-59.18%	+32.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.74%	-7.23%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-9.74%	-17.08%	+7.34%
Max Drawdown (5Y) Largest decline over 5 years	-15.49%	-21.97%	+6.48%
Max Drawdown (10Y) Largest decline over 10 years	-20.84%	—	—
Current Drawdown Current decline from peak	-8.67%	-3.00%	-5.67%
Average Drawdown Average peak-to-trough decline	-3.54%	-8.44%	+4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	3.17%	+1.18%

Volatility

PRPFX vs. GAMPX - Volatility Comparison

The current volatility for Permanent Portfolio Class I (PRPFX) is 2.42%, while Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) has a volatility of 5.37%. This indicates that PRPFX experiences smaller price fluctuations and is considered to be less risky than GAMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRPFX	GAMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	5.37%	-2.95%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	11.91%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.09%	14.88%	-1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	20.48%	-9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.68%	25.70%	-15.02%

PRPFX vs. GAMPX - Expense Ratio Comparison

PRPFX has a 0.81% expense ratio, which is lower than GAMPX's 1.11% expense ratio.

Dividends

PRPFX vs. GAMPX - Dividend Comparison

PRPFX's dividend yield for the trailing twelve months is around 3.20%, less than GAMPX's 8.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	8.30%	10.13%	25.55%	10.34%	4.76%	8.54%	4.33%	4.99%	3.75%	0.00%	0.00%	0.00%
PRPFX Permanent Portfolio Class I	3.20%	3.27%	1.86%	1.39%	1.58%	2.05%	5.38%	4.69%	6.90%	2.14%	0.95%	7.06%

Frequently Asked Questions

Can I hold both PRPFX and GAMPX in my portfolio?

PRPFX and GAMPX 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, PRPFX or GAMPX?

GAMPX has higher volatility (5.37%) compared to PRPFX (2.42%). In terms of maximum drawdown, PRPFX dropped -27.16% vs GAMPX's -59.18%.

Which has better risk-adjusted returns?

GAMPX currently has the higher Sharpe Ratio (2.02 vs 1.19), 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.