PSPFX vs. MAGRX

Last updated Jun 5, 2026

PSPFX (U.S. Global Investors Global Resources Fund) and MAGRX (BlackRock Natural Resources Trust Fund) are both Energy Equities funds. Over the past 10 years, PSPFX returned 9.71%/yr vs 10.00%/yr for MAGRX. A 0.79 correlation means they provide meaningful diversification when combined. PSPFX charges 1.54%/yr vs 0.87%/yr for MAGRX.

Performance

PSPFX vs. MAGRX - Performance Comparison

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

Returns By Period

In the year-to-date period, PSPFX achieves a 12.77% return, which is significantly lower than MAGRX's 17.64% return. Both investments have delivered pretty close results over the past 10 years, with PSPFX having a 9.71% annualized return and MAGRX not far ahead at 10.00%.

PSPFX

• 1D: -3.53%
• 1M: 0.39%
• YTD: 12.77%
• 6M: 19.61%
• 1Y: 77.56%
• 3Y*: 23.14%
• 5Y*: 8.87%
• 10Y*: 9.71%

MAGRX

• 1D: -0.56%
• 1M: -0.30%
• YTD: 17.64%
• 6M: 21.61%
• 1Y: 42.05%
• 3Y*: 15.06%
• 5Y*: 11.14%
• 10Y*: 10.00%

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

PSPFX vs. MAGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSPFX U.S. Global Investors Global Resources Fund	12.77%	80.27%	-3.74%	-7.67%	-12.39%	13.97%	37.05%	7.80%	-24.97%	19.62%
MAGRX BlackRock Natural Resources Trust Fund	17.64%	30.26%	-5.65%	-1.36%	17.20%	30.76%	3.20%	15.34%	-17.95%	8.20%

Correlation

The correlation between PSPFX and MAGRX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 24, 1988	0.79

The correlation between PSPFX and MAGRX shifts across timeframes, from 0.68 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PSPFX vs. MAGRX — Risk / Return Rank

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

PSPFX

PSPFX Risk / Return Rank: 79
PSPFX Sharpe Ratio Rank: 88
PSPFX Sortino Ratio Rank: 62
PSPFX Omega Ratio Rank: 74
PSPFX Calmar Ratio Rank: 88
PSPFX Martin Ratio Rank: 86

MAGRX

MAGRX Risk / Return Rank: 75
MAGRX Sharpe Ratio Rank: 77
MAGRX Sortino Ratio Rank: 61
MAGRX Omega Ratio Rank: 63
MAGRX Calmar Ratio Rank: 90
MAGRX 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.

PSPFX vs. MAGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Global Resources Fund (PSPFX) and BlackRock Natural Resources Trust Fund (MAGRX). 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.

	PSPFX	MAGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.87	2.53	+0.34
Sortino ratio: Return per unit of downside risk	3.24	3.21	+0.03
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.04
Calmar ratio: Return relative to maximum drawdown	4.34	4.54	-0.20
Martin ratio: Return relative to average drawdown	15.86	15.49	+0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSPFX vs. MAGRX - Sharpe Ratio Comparison

The current PSPFX Sharpe Ratio is 2.87, which is comparable to the MAGRX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of PSPFX and MAGRX, 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

	PSPFX	MAGRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	2.53	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.53	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.45	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.34	-0.14

Drawdowns

PSPFX vs. MAGRX - Drawdown Comparison

The maximum PSPFX drawdown since its inception was -79.09%, which is greater than MAGRX's maximum drawdown of -65.68%. Use the drawdown chart below to compare losses from any high point for PSPFX and MAGRX.

Drawdown Indicators

	PSPFX	MAGRX	Difference
Max Drawdown Largest peak-to-trough decline	-79.09%	-65.68%	-13.41%
Max Drawdown (1Y) Largest decline over 1 year	-17.96%	-9.27%	-8.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.50%	-19.46%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	-39.15%	-26.30%	-12.85%
Max Drawdown (10Y) Largest decline over 10 years	-56.80%	-50.11%	-6.69%
Current Drawdown Current decline from peak	-9.73%	-3.59%	-6.14%
Average Drawdown Average peak-to-trough decline	-42.50%	-15.93%	-26.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.91%	2.71%	+2.20%

Volatility

PSPFX vs. MAGRX - Volatility Comparison

U.S. Global Investors Global Resources Fund (PSPFX) has a higher volatility of 8.95% compared to BlackRock Natural Resources Trust Fund (MAGRX) at 4.81%. This indicates that PSPFX's price experiences larger fluctuations and is considered to be riskier than MAGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSPFX	MAGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.95%	4.81%	+4.14%
Volatility (6M) Calculated over the trailing 6-month period	23.05%	13.18%	+9.87%
Volatility (1Y) Calculated over the trailing 1-year period	27.18%	16.65%	+10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.14%	21.00%	+2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	22.53%	-0.68%

PSPFX vs. MAGRX - Expense Ratio Comparison

PSPFX has a 1.54% expense ratio, which is higher than MAGRX's 0.87% expense ratio.

Dividends

PSPFX vs. MAGRX - Dividend Comparison

PSPFX's dividend yield for the trailing twelve months is around 40.26%, more than MAGRX's 7.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAGRX BlackRock Natural Resources Trust Fund	7.17%	8.44%	3.32%	4.16%	10.86%	3.90%	2.07%	2.97%	20.12%	49.72%	0.87%	8.29%
PSPFX U.S. Global Investors Global Resources Fund	40.26%	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 MAGRX in my portfolio?

PSPFX and MAGRX have a correlation of 0.68, 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 MAGRX?

PSPFX has higher volatility (8.95%) compared to MAGRX (4.81%). In terms of maximum drawdown, PSPFX dropped -79.09% vs MAGRX's -65.68%.

Which has better risk-adjusted returns?

PSPFX currently has the higher Sharpe Ratio (2.87 vs 2.53), 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.