QGLDX vs. OCMAX

Last updated Jun 24, 2026

QGLDX (The Gold Bullion Strategy Fund Investor Class) and OCMAX (OCM Gold Atlas) are both Gold funds. Over the past 10 years, QGLDX returned 9.29%/yr vs 16.61%/yr for OCMAX. A 0.74 correlation means they provide meaningful diversification when combined. QGLDX charges 1.00%/yr vs 1.88%/yr for OCMAX.

Performance

QGLDX vs. OCMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Gold Bullion Strategy Fund Investor Class (QGLDX) and OCM Gold Atlas (OCMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QGLDX achieves a -3.09% return, which is significantly lower than OCMAX's 0.32% return. Over the past 10 years, QGLDX has underperformed OCMAX with an annualized return of 9.29%, while OCMAX has yielded a comparatively higher 16.61% annualized return.

QGLDX

• 1D: -0.61%
• 1M: -6.91%
• YTD: -3.09%
• 6M: -7.25%
• 1Y: 22.24%
• 3Y*: 27.06%
• 5Y*: 15.65%
• 10Y*: 9.29%

OCMAX

• 1D: -1.56%
• 1M: -3.51%
• YTD: 0.32%
• 6M: -3.21%
• 1Y: 61.06%
• 3Y*: 51.76%
• 5Y*: 21.66%
• 10Y*: 16.61%

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

QGLDX vs. OCMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QGLDX The Gold Bullion Strategy Fund Investor Class	-3.09%	59.91%	24.52%	10.39%	-4.64%	-6.25%	19.35%	17.03%	-4.07%	11.44%
OCMAX OCM Gold Atlas	0.32%	168.37%	23.87%	4.82%	-17.28%	-9.16%	45.45%	58.42%	-13.25%	10.55%

Correlation

The correlation between QGLDX and OCMAX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.74

The correlation between QGLDX and OCMAX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

QGLDX vs. OCMAX — Risk / Return Rank

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

QGLDX

QGLDX Risk / Return Rank: 11
QGLDX Sharpe Ratio Rank: 11
QGLDX Sortino Ratio Rank: 10
QGLDX Omega Ratio Rank: 13
QGLDX Calmar Ratio Rank: 10
QGLDX Martin Ratio Rank: 9

OCMAX

OCMAX Risk / Return Rank: 29
OCMAX Sharpe Ratio Rank: 33
OCMAX Sortino Ratio Rank: 25
OCMAX Omega Ratio Rank: 31
OCMAX Calmar Ratio Rank: 32
OCMAX Martin Ratio Rank: 26

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.

QGLDX vs. OCMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Gold Bullion Strategy Fund Investor Class (QGLDX) and OCM Gold Atlas (OCMAX). 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.

	QGLDX	OCMAX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	1.54	-0.71
Sortino ratio: Return per unit of downside risk	1.18	1.94	-0.75
Omega ratio: Gain probability vs. loss probability	1.17	1.27	-0.10
Calmar ratio: Return relative to maximum drawdown	0.92	2.01	-1.09
Martin ratio: Return relative to average drawdown	2.51	5.69	-3.18

QGLDX vs. OCMAX - Sharpe Ratio Comparison

The current QGLDX Sharpe Ratio is 0.83, which is lower than the OCMAX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of QGLDX and OCMAX, 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

QGLDX vs. OCMAX - Drawdown Comparison

The maximum QGLDX drawdown since its inception was -27.17%, smaller than the maximum OCMAX drawdown of -76.26%. Use the drawdown chart below to compare losses from any high point for QGLDX and OCMAX.

Drawdown Indicators

	QGLDX	OCMAX	Difference
Max Drawdown Largest peak-to-trough decline	-27.17%	-76.26%	+49.09%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	-31.28%	+6.63%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-31.28%	+6.63%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-44.05%	+19.40%
Max Drawdown (10Y) Largest decline over 10 years	-27.17%	-45.14%	+17.97%
Current Drawdown Current decline from peak	-22.40%	-23.58%	+1.18%
Average Drawdown Average peak-to-trough decline	-11.35%	-36.10%	+24.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.02%	11.02%	-2.00%

Volatility

QGLDX vs. OCMAX - Volatility Comparison

The current volatility for The Gold Bullion Strategy Fund Investor Class (QGLDX) is 8.28%, while OCM Gold Atlas (OCMAX) has a volatility of 16.55%. This indicates that QGLDX experiences smaller price fluctuations and is considered to be less risky than OCMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QGLDX	OCMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.28%	16.55%	-8.27%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	34.50%	-10.22%
Volatility (1Y) Calculated over the trailing 1-year period	27.52%	40.89%	-13.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	34.77%	-16.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	33.97%	-17.36%

QGLDX vs. OCMAX - Expense Ratio Comparison

QGLDX has a 1.00% expense ratio, which is lower than OCMAX's 1.88% expense ratio.

Dividends

QGLDX vs. OCMAX - Dividend Comparison

QGLDX's dividend yield for the trailing twelve months is around 62.47%, more than OCMAX's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OCMAX OCM Gold Atlas	5.90%	5.91%	2.97%	0.00%	0.04%	0.95%	1.44%	5.66%	24.55%	6.72%	18.48%	0.05%
QGLDX The Gold Bullion Strategy Fund Investor Class	62.47%	60.49%	28.70%	10.20%	0.00%	0.00%	9.92%	14.32%	1.23%	5.75%	2.08%	0.00%

Frequently Asked Questions

Can I hold both QGLDX and OCMAX in my portfolio?

QGLDX and OCMAX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QGLDX or OCMAX?

OCMAX has higher volatility (16.55%) compared to QGLDX (8.28%). In terms of maximum drawdown, QGLDX dropped -27.17% vs OCMAX's -76.26%.

Which has better risk-adjusted returns?

OCMAX currently has the higher Sharpe Ratio (1.54 vs 0.83), 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.