SGDM vs. EPGFX

Last updated Jun 23, 2026

SGDM (Sprott Gold Miners ETF) and EPGFX (EuroPac Gold Fund) are both Gold funds. Over the past 10 years, SGDM returned 11.34%/yr vs 11.24%/yr for EPGFX. Their correlation of 0.94 suggests significant overlap in exposure. SGDM charges 0.50%/yr vs 1.40%/yr for EPGFX.

Performance

SGDM vs. EPGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Gold Miners ETF (SGDM) and EuroPac Gold Fund (EPGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDM achieves a -3.45% return, which is significantly lower than EPGFX's -0.25% return. Both investments have delivered pretty close results over the past 10 years, with SGDM having a 11.34% annualized return and EPGFX not far behind at 11.24%.

SGDM

• 1D: -1.23%
• 1M: -4.58%
• YTD: -3.45%
• 6M: -7.95%
• 1Y: 49.12%
• 3Y*: 39.66%
• 5Y*: 19.95%
• 10Y*: 11.34%

EPGFX

• 1D: -2.43%
• 1M: -2.43%
• YTD: -0.25%
• 6M: -3.71%
• 1Y: 56.98%
• 3Y*: 33.59%
• 5Y*: 14.32%
• 10Y*: 11.24%

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

SGDM vs. EPGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGDM Sprott Gold Miners ETF	-3.45%	153.46%	12.14%	2.34%	-8.23%	-9.15%	21.85%	44.27%	-15.14%	10.46%
EPGFX EuroPac Gold Fund	-0.25%	129.06%	8.51%	2.31%	-14.00%	-18.06%	36.99%	37.25%	-13.85%	12.73%

Correlation

The correlation between SGDM and EPGFX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 15, 2014	0.94

The correlation between SGDM and EPGFX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

SGDM vs. EPGFX — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 29
SGDM Sharpe Ratio Rank: 30
SGDM Sortino Ratio Rank: 28
SGDM Omega Ratio Rank: 31
SGDM Calmar Ratio Rank: 29
SGDM Martin Ratio Rank: 27

EPGFX

EPGFX Risk / Return Rank: 23
EPGFX Sharpe Ratio Rank: 26
EPGFX Sortino Ratio Rank: 20
EPGFX Omega Ratio Rank: 25
EPGFX Calmar Ratio Rank: 26
EPGFX Martin Ratio Rank: 20

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.

SGDM vs. EPGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and EuroPac Gold Fund (EPGFX). 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.

	SGDM	EPGFX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.36	-0.30
Sortino ratio: Return per unit of downside risk	1.48	1.74	-0.26
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.37	1.77	-0.40
Martin ratio: Return relative to average drawdown	3.66	4.73	-1.07

SGDM vs. EPGFX - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 1.06, which is comparable to the EPGFX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of SGDM and EPGFX, 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

SGDM vs. EPGFX - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, roughly equal to the maximum EPGFX drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for SGDM and EPGFX.

Drawdown Indicators

	SGDM	EPGFX	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-56.70%	+1.75%
Max Drawdown (1Y) Largest decline over 1 year	-35.96%	-30.77%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-35.96%	-30.77%	-5.19%
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	-44.99%	-0.07%
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	-51.03%	+1.34%
Current Drawdown Current decline from peak	-29.48%	-23.94%	-5.54%
Average Drawdown Average peak-to-trough decline	-25.47%	-22.03%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.46%	11.53%	+1.93%

Volatility

SGDM vs. EPGFX - Volatility Comparison

Sprott Gold Miners ETF (SGDM) has a higher volatility of 16.43% compared to EuroPac Gold Fund (EPGFX) at 14.28%. This indicates that SGDM's price experiences larger fluctuations and is considered to be riskier than EPGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDM	EPGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.43%	14.28%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	39.22%	33.79%	+5.43%
Volatility (1Y) Calculated over the trailing 1-year period	46.84%	40.25%	+6.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.19%	32.82%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.03%	32.58%	+4.45%

SGDM vs. EPGFX - Expense Ratio Comparison

SGDM has a 0.50% expense ratio, which is lower than EPGFX's 1.40% expense ratio.

Dividends

SGDM vs. EPGFX - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.08%, less than EPGFX's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPGFX EuroPac Gold Fund	6.88%	6.86%	10.36%	0.00%	0.00%	2.49%	8.67%	0.00%	0.00%	2.56%	19.31%	0.00%
SGDM Sprott Gold Miners ETF	1.08%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Frequently Asked Questions

Can I hold both SGDM and EPGFX in my portfolio?

With a correlation of 0.96, SGDM and EPGFX 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.

Which is riskier, SGDM or EPGFX?

SGDM has higher volatility (16.43%) compared to EPGFX (14.28%). In terms of maximum drawdown, SGDM dropped -54.95% vs EPGFX's -56.70%.

Which has better risk-adjusted returns?

EPGFX currently has the higher Sharpe Ratio (1.36 vs 1.06), 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.