RING vs. MIDSX
RING (iShares MSCI Global Gold Miners ETF) and MIDSX (Midas Fund) are both funds - RING is a Gold fund tracking the MSCI ACWI Select Gold Miners Investable Market Index, while MIDSX is a Precious Metals fund managed by Midas. Over the past 10 years, RING returned 12.92%/yr vs 9.79%/yr for MIDSX. Their correlation of 0.90 suggests significant overlap in exposure. RING charges 0.39%/yr vs 4.25%/yr for MIDSX.
Performance
RING vs. MIDSX - Performance Comparison
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Returns By Period
In the year-to-date period, RING achieves a -8.53% return, which is significantly lower than MIDSX's -0.86% return. Over the past 10 years, RING has outperformed MIDSX with an annualized return of 12.92%, while MIDSX has yielded a comparatively lower 9.79% annualized return.
RING
- 1D
- -4.54%
- 1M
- -9.24%
- YTD
- -8.53%
- 6M
- -13.08%
- 1Y
- 52.30%
- 3Y*
- 44.79%
- 5Y*
- 20.81%
- 10Y*
- 12.92%
MIDSX
- 1D
- -0.29%
- 1M
- -5.21%
- YTD
- -0.86%
- 6M
- -5.72%
- 1Y
- 63.21%
- 3Y*
- 46.08%
- 5Y*
- 20.01%
- 10Y*
- 9.79%
RING vs. MIDSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | -8.53% | 164.72% | 15.98% | 12.29% | -15.40% | -7.46% | 24.98% | 49.92% | -13.14% | 10.24% |
MIDSX Midas Fund | -0.86% | 195.76% | 7.27% | -1.79% | -11.11% | -19.23% | 10.64% | 30.56% | -12.90% | 5.98% |
Correlation
The correlation between RING and MIDSX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.90 |
The correlation between RING and MIDSX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
RING vs. MIDSX — Risk / Return Rank
RING
MIDSX
RING vs. MIDSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) and Midas Fund (MIDSX). 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.
| RING | MIDSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.71 | -0.24 |
| Martin ratioReturn relative to average drawdown | 3.91 | 4.99 | -1.08 |
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Drawdowns
RING vs. MIDSX - Drawdown Comparison
The maximum RING drawdown since its inception was -79.47%, smaller than the maximum MIDSX drawdown of -89.77%. Use the drawdown chart below to compare losses from any high point for RING and MIDSX.
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Drawdown Indicators
| RING | MIDSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.47% | -89.77% | +10.30% |
Max Drawdown (1Y)Largest decline over 1 year | -35.72% | -37.99% | +2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -35.72% | -37.99% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -47.94% | -43.33% | -4.61% |
Max Drawdown (10Y)Largest decline over 10 years | -52.04% | -57.07% | +5.03% |
Current DrawdownCurrent decline from peak | -32.25% | -42.94% | +10.69% |
Average DrawdownAverage peak-to-trough decline | -47.33% | -63.48% | +16.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 13.02% | +0.38% |
Volatility
RING vs. MIDSX - Volatility Comparison
iShares MSCI Global Gold Miners ETF (RING) and Midas Fund (MIDSX) have volatilities of 17.22% and 17.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RING | MIDSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.22% | 17.82% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 39.95% | 39.39% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.04% | 46.22% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.94% | 35.04% | +1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.73% | 33.61% | +3.12% |
RING vs. MIDSX - Expense Ratio Comparison
RING has a 0.39% expense ratio, which is lower than MIDSX's 4.25% expense ratio.
Dividends
RING vs. MIDSX - Dividend Comparison
RING's dividend yield for the trailing twelve months is around 1.35%, while MIDSX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIDSX Midas Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RING iShares MSCI Global Gold Miners ETF | 1.35% | 0.84% | 1.43% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% |
Frequently Asked Questions
With a correlation of 0.95, RING and MIDSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MIDSX has higher volatility (17.82%) compared to RING (17.22%). In terms of maximum drawdown, RING dropped -79.47% vs MIDSX's -89.77%.
MIDSX currently has the higher Sharpe Ratio (1.41 vs 1.09), 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.
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