SGDIX vs. GGN

Last updated Aug 1, 2026

SGDIX (Sprott Gold Equity Fund Institutional Class) and GGN (GAMCO Global Gold, Natural Resources and Income Trust) are both Gold funds. Over the past 5 years, SGDIX returned 18.62%/yr vs 14.12%/yr for GGN. Their 0.64 correlation means they have sometimes moved together and sometimes differently. SGDIX charges 1.17%/yr vs 0.01%/yr for GGN.

Performance

SGDIX vs. GGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Gold Equity Fund Institutional Class (SGDIX) and GAMCO Global Gold, Natural Resources and Income Trust (GGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDIX achieves a -7.66% return, which is significantly lower than GGN's -1.18% return.

SGDIX

• 1D: 2.85%
• 1M: -2.96%
• 6M: -15.81%
• YTD: -7.66%
• 1Y: 58.05%
• 3Y*: 40.08%
• 5Y*: 18.62%
• 10Y*: —
• ALL TIME*: 18.08%

GGN

• 1D: -0.61%
• 1M: 0.42%
• 6M: -3.97%
• YTD: -1.18%
• 1Y: 18.62%
• 3Y*: 18.57%
• 5Y*: 14.12%
• 10Y*: 8.01%
• ALL TIME*: 3.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GGN GAMCO Global Gold, Natural Resources and Income Trust	$3.45M	$2.63M	$2.89M
SGDIX Sprott Gold Equity Fund Institutional Class	$0.00	$0.00	$0.00

SGDIX vs. GGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SGDIX Sprott Gold Equity Fund Institutional Class	-7.66%	148.38%	20.90%	2.23%	-12.96%	-11.55%	35.67%
GGN GAMCO Global Gold, Natural Resources and Income Trust	-1.18%	48.19%	9.59%	15.01%	6.80%	17.41%	-9.25%

Correlation

The correlation between SGDIX and GGN is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (All Time) Calculated using the full available price history since Jan 17, 2020	0.64

The correlation between SGDIX and GGN shifts across timeframes, from 0.64 (3 years) to 0.77 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SGDIX vs. GGN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SGDIX

SGDIX Risk / Return Rank: 39
SGDIX Sharpe Ratio Rank: 48
SGDIX Sortino Ratio Rank: 39
SGDIX Omega Ratio Rank: 44
SGDIX Calmar Ratio Rank: 39
SGDIX Martin Ratio Rank: 24

GGN

GGN Risk / Return Rank: 21
GGN Sharpe Ratio Rank: 22
GGN Sortino Ratio Rank: 20
GGN Omega Ratio Rank: 24
GGN Calmar Ratio Rank: 23
GGN Martin Ratio Rank: 17

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SGDIX vs. GGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Equity Fund Institutional Class (SGDIX) and GAMCO Global Gold, Natural Resources and Income Trust (GGN). 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.

	SGDIX	GGN	Difference
Sharpe ratio: Return per unit of total volatility	1.36	0.78	+0.59
Sortino ratio: Return per unit of downside risk	1.77	1.13	+0.65
Omega ratio: Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio: Return relative to maximum drawdown	1.68	1.09	+0.59
Martin ratio: Return relative to average drawdown	3.61	2.37	+1.24

SGDIX vs. GGN - Sharpe Ratio Comparison

The current SGDIX Sharpe Ratio is 1.36, which is higher than the GGN Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of SGDIX and GGN, 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

SGDIX vs. GGN - Drawdown Comparison

The maximum SGDIX drawdown since its inception was -47.27%, smaller than the maximum GGN drawdown of -73.04%. Use the drawdown chart below to compare losses from any high point for SGDIX and GGN.

Drawdown Indicators

	SGDIX	GGN	Difference
Max Drawdown Largest peak-to-trough decline	-47.27%	-73.04%	+25.77%
Max Drawdown (1Y) Largest decline over 1 year	-35.40%	-16.94%	-18.46%
Max Drawdown (3Y) Largest decline over 3 years	-35.40%	-16.94%	-18.46%
Max Drawdown (5Y) Largest decline over 5 years	-42.90%	-22.08%	-20.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.04%	—
Current Drawdown Current decline from peak	-30.48%	-13.78%	-16.70%
Average Drawdown Average peak-to-trough decline	-18.26%	-31.65%	+13.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.40%	7.75%	+8.65%

Volatility

SGDIX vs. GGN - Volatility Comparison

Sprott Gold Equity Fund Institutional Class (SGDIX) has a higher volatility of 11.84% compared to GAMCO Global Gold, Natural Resources and Income Trust (GGN) at 5.29%. This indicates that SGDIX's price experiences larger fluctuations and is considered to be riskier than GGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDIX	GGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.84%	5.29%	+6.55%
Volatility (6M) Calculated over the trailing 6-month period	36.60%	19.19%	+17.41%
Volatility (1Y) Calculated over the trailing 1-year period	43.59%	23.68%	+19.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.47%	19.09%	+13.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.29%	23.13%	+11.16%

SGDIX vs. GGN - Expense Ratio Comparison

SGDIX has a 1.17% expense ratio, which is higher than GGN's 0.02% expense ratio.

Dividends

SGDIX vs. GGN - Dividend Comparison

SGDIX's dividend yield for the trailing twelve months is around 0.71%, less than GGN's 7.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGN GAMCO Global Gold, Natural Resources and Income Trust	7.35%	6.98%	9.55%	10.37%	9.92%	9.60%	13.68%	13.64%	16.22%	11.52%	15.85%	17.68%
SGDIX Sprott Gold Equity Fund Institutional Class	0.71%	0.66%	0.00%	0.00%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGDIX and GGN in my portfolio?

SGDIX and GGN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDIX or GGN?

SGDIX has higher volatility (11.84%) compared to GGN (5.29%). In terms of maximum drawdown, SGDIX dropped -47.27% vs GGN's -73.04%.

Which has better risk-adjusted returns?

SGDIX currently has the higher Sharpe Ratio (1.36 vs 0.78), 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.