PSPFX vs. FMGIX

Last updated Jun 24, 2026

PSPFX (U.S. Global Investors Global Resources Fund) and FMGIX (Frontier MFG Core Infrastructure Fund) are both Energy Equities funds. Over the past 10 years, PSPFX returned 8.70%/yr vs 10.34%/yr for FMGIX. At a 0.46 correlation, their price movements are largely independent. PSPFX charges 1.54%/yr vs 0.50%/yr for FMGIX.

Performance

PSPFX vs. FMGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Global Resources Fund (PSPFX) and Frontier MFG Core Infrastructure Fund (FMGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSPFX achieves a 1.03% return, which is significantly lower than FMGIX's 9.07% return. Over the past 10 years, PSPFX has underperformed FMGIX with an annualized return of 8.70%, while FMGIX has yielded a comparatively higher 10.34% annualized return.

PSPFX

• 1D: -0.85%
• 1M: -12.26%
• YTD: 1.03%
• 6M: -0.19%
• 1Y: 58.71%
• 3Y*: 18.53%
• 5Y*: 7.99%
• 10Y*: 8.70%

FMGIX

• 1D: 0.28%
• 1M: -0.21%
• YTD: 9.07%
• 6M: 8.99%
• 1Y: 14.85%
• 3Y*: 22.61%
• 5Y*: 12.51%
• 10Y*: 10.34%

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

PSPFX vs. FMGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSPFX U.S. Global Investors Global Resources Fund	1.03%	80.27%	-3.74%	-7.67%	-12.39%	13.97%	37.05%	7.80%	-24.97%	19.62%
FMGIX Frontier MFG Core Infrastructure Fund	9.07%	22.67%	34.26%	4.86%	-9.46%	13.84%	-1.36%	28.00%	-6.62%	20.25%

Correlation

The correlation between PSPFX and FMGIX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 18, 2012	0.46

The correlation between PSPFX and FMGIX shifts across timeframes, from 0.28 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PSPFX vs. FMGIX — Risk / Return Rank

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

PSPFX

PSPFX Risk / Return Rank: 54
PSPFX Sharpe Ratio Rank: 56
PSPFX Sortino Ratio Rank: 39
PSPFX Omega Ratio Rank: 48
PSPFX Calmar Ratio Rank: 75
PSPFX Martin Ratio Rank: 51

FMGIX

FMGIX Risk / Return Rank: 32
FMGIX Sharpe Ratio Rank: 33
FMGIX Sortino Ratio Rank: 29
FMGIX Omega Ratio Rank: 31
FMGIX Calmar Ratio Rank: 38
FMGIX Martin Ratio Rank: 31

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.

PSPFX vs. FMGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Global Resources Fund (PSPFX) and Frontier MFG Core Infrastructure Fund (FMGIX). 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.

	PSPFX	FMGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.48	+0.56
Sortino ratio: Return per unit of downside risk	2.45	1.99	+0.46
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	3.22	2.17	+1.05
Martin ratio: Return relative to average drawdown	9.99	6.41	+3.59

PSPFX vs. FMGIX - Sharpe Ratio Comparison

The current PSPFX Sharpe Ratio is 2.03, which is higher than the FMGIX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of PSPFX and FMGIX, 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

PSPFX vs. FMGIX - Drawdown Comparison

The maximum PSPFX drawdown since its inception was -79.09%, which is greater than FMGIX's maximum drawdown of -57.57%. Use the drawdown chart below to compare losses from any high point for PSPFX and FMGIX.

Drawdown Indicators

	PSPFX	FMGIX	Difference
Max Drawdown Largest peak-to-trough decline	-79.09%	-57.57%	-21.52%
Max Drawdown (1Y) Largest decline over 1 year	-17.96%	-7.11%	-10.85%
Max Drawdown (3Y) Largest decline over 3 years	-20.50%	-20.56%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-39.15%	-26.61%	-12.54%
Max Drawdown (10Y) Largest decline over 10 years	-56.80%	-57.57%	+0.77%
Current Drawdown Current decline from peak	-19.12%	-3.15%	-15.97%
Average Drawdown Average peak-to-trough decline	-42.47%	-5.33%	-37.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.78%	2.40%	+3.38%

Volatility

PSPFX vs. FMGIX - Volatility Comparison

U.S. Global Investors Global Resources Fund (PSPFX) has a higher volatility of 10.46% compared to Frontier MFG Core Infrastructure Fund (FMGIX) at 3.46%. This indicates that PSPFX's price experiences larger fluctuations and is considered to be riskier than FMGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSPFX	FMGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.46%	3.46%	+7.00%
Volatility (6M) Calculated over the trailing 6-month period	24.09%	8.66%	+15.43%
Volatility (1Y) Calculated over the trailing 1-year period	28.52%	10.49%	+18.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.37%	28.53%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.99%	52.58%	-30.59%

PSPFX vs. FMGIX - Expense Ratio Comparison

PSPFX has a 1.54% expense ratio, which is higher than FMGIX's 0.50% expense ratio.

Dividends

PSPFX vs. FMGIX - Dividend Comparison

PSPFX's dividend yield for the trailing twelve months is around 44.93%, more than FMGIX's 30.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMGIX Frontier MFG Core Infrastructure Fund	30.83%	33.65%	48.77%	4.79%	3.98%	2.63%	2.38%	2.63%	3.09%	3.15%	2.83%	2.79%
PSPFX U.S. Global Investors Global Resources Fund	44.93%	0.83%	4.34%	0.00%	15.68%	18.92%	5.49%	1.90%	4.70%	3.01%	3.33%	1.12%

Frequently Asked Questions

Can I hold both PSPFX and FMGIX in my portfolio?

PSPFX and FMGIX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSPFX or FMGIX?

PSPFX has higher volatility (10.46%) compared to FMGIX (3.46%). In terms of maximum drawdown, PSPFX dropped -79.09% vs FMGIX's -57.57%.

Which has better risk-adjusted returns?

PSPFX currently has the higher Sharpe Ratio (2.03 vs 1.48), 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.