QGLDX vs. SGGDX

Last updated Jun 24, 2026

QGLDX (The Gold Bullion Strategy Fund Investor Class) and SGGDX (First Eagle Gold Fund) are both Gold funds. Over the past 10 years, QGLDX returned 9.29%/yr vs 12.26%/yr for SGGDX. A 0.79 correlation means they provide meaningful diversification when combined. QGLDX charges 1.00%/yr vs 1.19%/yr for SGGDX.

Performance

QGLDX vs. SGGDX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QGLDX having a -3.09% return and SGGDX slightly lower at -3.13%. Over the past 10 years, QGLDX has underperformed SGGDX with an annualized return of 9.29%, while SGGDX has yielded a comparatively higher 12.26% 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%

SGGDX

• 1D: -1.13%
• 1M: -5.24%
• YTD: -3.13%
• 6M: -7.13%
• 1Y: 48.74%
• 3Y*: 36.71%
• 5Y*: 19.97%
• 10Y*: 12.26%

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

QGLDX vs. SGGDX - 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%
SGGDX First Eagle Gold Fund	-3.13%	128.39%	10.32%	7.01%	-1.56%	-7.78%	29.63%	38.51%	-15.90%	8.12%

Correlation

The correlation between QGLDX and SGGDX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.79

The correlation between QGLDX and SGGDX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

QGLDX vs. SGGDX — 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

SGGDX

SGGDX Risk / Return Rank: 20
SGGDX Sharpe Ratio Rank: 22
SGGDX Sortino Ratio Rank: 18
SGGDX Omega Ratio Rank: 23
SGGDX Calmar Ratio Rank: 20
SGGDX Martin Ratio Rank: 17

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. SGGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Gold Bullion Strategy Fund Investor Class (QGLDX) and First Eagle Gold Fund (SGGDX). 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	SGGDX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	1.25	-0.43
Sortino ratio: Return per unit of downside risk	1.18	1.64	-0.46
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	0.92	1.54	-0.62
Martin ratio: Return relative to average drawdown	2.51	4.20	-1.69

QGLDX vs. SGGDX - Sharpe Ratio Comparison

The current QGLDX Sharpe Ratio is 0.83, which is lower than the SGGDX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of QGLDX and SGGDX, 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. SGGDX - Drawdown Comparison

The maximum QGLDX drawdown since its inception was -27.17%, smaller than the maximum SGGDX drawdown of -70.69%. Use the drawdown chart below to compare losses from any high point for QGLDX and SGGDX.

Drawdown Indicators

	QGLDX	SGGDX	Difference
Max Drawdown Largest peak-to-trough decline	-27.17%	-70.69%	+43.52%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	-32.40%	+7.75%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-32.40%	+7.75%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-34.02%	+9.37%
Max Drawdown (10Y) Largest decline over 10 years	-27.17%	-42.16%	+14.99%
Current Drawdown Current decline from peak	-22.40%	-27.04%	+4.64%
Average Drawdown Average peak-to-trough decline	-11.35%	-29.42%	+18.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.02%	11.83%	-2.81%

Volatility

QGLDX vs. SGGDX - Volatility Comparison

The current volatility for The Gold Bullion Strategy Fund Investor Class (QGLDX) is 8.28%, while First Eagle Gold Fund (SGGDX) has a volatility of 13.38%. This indicates that QGLDX experiences smaller price fluctuations and is considered to be less risky than SGGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QGLDX	SGGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.28%	13.38%	-5.10%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	34.10%	-9.82%
Volatility (1Y) Calculated over the trailing 1-year period	27.52%	39.83%	-12.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	29.13%	-10.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.61%	27.39%	-10.78%

QGLDX vs. SGGDX - Expense Ratio Comparison

QGLDX has a 1.00% expense ratio, which is lower than SGGDX's 1.19% expense ratio.

Dividends

QGLDX vs. SGGDX - Dividend Comparison

QGLDX's dividend yield for the trailing twelve months is around 62.47%, more than SGGDX's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
SGGDX First Eagle Gold Fund	1.12%	1.08%	5.26%	0.87%	0.00%	0.96%	1.25%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QGLDX and SGGDX in my portfolio?

QGLDX and SGGDX have a correlation of 0.86, 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 SGGDX?

SGGDX has higher volatility (13.38%) compared to QGLDX (8.28%). In terms of maximum drawdown, QGLDX dropped -27.17% vs SGGDX's -70.69%.

Which has better risk-adjusted returns?

SGGDX currently has the higher Sharpe Ratio (1.25 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.