SGENX vs. SGIIX

Last updated Jun 4, 2026

SGENX (First Eagle Global Fund Class A) and SGIIX (First Eagle Global Fund Class I) are both Global Equities funds from First Eagle. Over the past 10 years, SGENX returned 10.24%/yr vs 10.52%/yr for SGIIX. With a 1.00 correlation, they move nearly in lockstep. SGENX charges 1.11%/yr vs 0.86%/yr for SGIIX.

Performance

SGENX vs. SGIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Global Fund Class A (SGENX) and First Eagle Global Fund Class I (SGIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SGENX having a 8.55% return and SGIIX slightly higher at 8.67%. Both investments have delivered pretty close results over the past 10 years, with SGENX having a 10.24% annualized return and SGIIX not far ahead at 10.52%.

SGENX

• 1D: 0.09%
• 1M: 3.34%
• YTD: 8.55%
• 6M: 10.57%
• 1Y: 27.59%
• 3Y*: 19.12%
• 5Y*: 10.94%
• 10Y*: 10.24%

SGIIX

• 1D: 0.10%
• 1M: 3.37%
• YTD: 8.67%
• 6M: 10.71%
• 1Y: 27.90%
• 3Y*: 19.39%
• 5Y*: 11.20%
• 10Y*: 10.52%

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

SGENX vs. SGIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGENX First Eagle Global Fund Class A	8.55%	31.62%	11.78%	12.77%	-6.46%	12.20%	8.33%	20.16%	-8.46%	13.48%
SGIIX First Eagle Global Fund Class I	8.67%	31.94%	12.03%	13.04%	-6.23%	12.49%	8.63%	20.47%	-8.20%	13.78%

Correlation

The correlation between SGENX and SGIIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 5, 1999	1.00

The correlation between SGENX and SGIIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

SGENX vs. SGIIX — Risk / Return Rank

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

SGENX

SGENX Risk / Return Rank: 60
SGENX Sharpe Ratio Rank: 75
SGENX Sortino Ratio Rank: 65
SGENX Omega Ratio Rank: 67
SGENX Calmar Ratio Rank: 48
SGENX Martin Ratio Rank: 44

SGIIX

SGIIX Risk / Return Rank: 61
SGIIX Sharpe Ratio Rank: 77
SGIIX Sortino Ratio Rank: 67
SGIIX Omega Ratio Rank: 68
SGIIX Calmar Ratio Rank: 49
SGIIX Martin Ratio Rank: 45

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.

SGENX vs. SGIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Global Fund Class A (SGENX) and First Eagle Global Fund Class I (SGIIX). 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.

	SGENX	SGIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.53	-0.03
Sortino ratio: Return per unit of downside risk	3.36	3.40	-0.04
Omega ratio: Gain probability vs. loss probability	1.46	1.46	-0.01
Calmar ratio: Return relative to maximum drawdown	2.65	2.68	-0.03
Martin ratio: Return relative to average drawdown	9.33	9.47	-0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGENX vs. SGIIX - Sharpe Ratio Comparison

The current SGENX Sharpe Ratio is 2.50, which is comparable to the SGIIX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SGENX and SGIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SGENX	SGIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.53	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.94	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.85	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.93	+0.06

Drawdowns

SGENX vs. SGIIX - Drawdown Comparison

The maximum SGENX drawdown since its inception was -37.60%, roughly equal to the maximum SGIIX drawdown of -37.03%. Use the drawdown chart below to compare losses from any high point for SGENX and SGIIX.

Drawdown Indicators

	SGENX	SGIIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.60%	-37.03%	-0.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.53%	-10.52%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-10.53%	-10.52%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-19.57%	-19.42%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	-27.68%	-27.64%	-0.04%
Current Drawdown Current decline from peak	-2.26%	-2.20%	-0.06%
Average Drawdown Average peak-to-trough decline	-3.42%	-3.71%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.97%	+0.01%

Volatility

SGENX vs. SGIIX - Volatility Comparison

First Eagle Global Fund Class A (SGENX) and First Eagle Global Fund Class I (SGIIX) have volatilities of 2.93% and 2.94%, 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.

Volatility by Period

	SGENX	SGIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	2.94%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	9.14%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	11.16%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.96%	11.96%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	12.50%	0.00%

SGENX vs. SGIIX - Expense Ratio Comparison

SGENX has a 1.11% expense ratio, which is higher than SGIIX's 0.86% expense ratio.

Dividends

SGENX vs. SGIIX - Dividend Comparison

SGENX's dividend yield for the trailing twelve months is around 8.70%, less than SGIIX's 8.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGENX First Eagle Global Fund Class A	8.70%	9.45%	5.46%	3.52%	4.17%	6.27%	2.38%	5.48%	6.35%	4.23%	4.72%	1.16%
SGIIX First Eagle Global Fund Class I	8.85%	9.61%	5.68%	3.74%	4.41%	6.49%	2.61%	5.72%	6.66%	4.50%	4.96%	1.43%

Frequently Asked Questions

Can I hold both SGENX and SGIIX in my portfolio?

With a correlation of 1.00, SGENX and SGIIX 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, SGENX or SGIIX?

SGIIX has higher volatility (2.94%) compared to SGENX (2.93%). In terms of maximum drawdown, SGENX dropped -37.60% vs SGIIX's -37.03%.

Which has better risk-adjusted returns?

SGIIX currently has the higher Sharpe Ratio (2.53 vs 2.50), 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.