SGGDX vs. GDXJ
SGGDX (First Eagle Gold Fund) and GDXJ (VanEck Junior Gold Miners ETF) are both Gold funds. Over the past 10 years, SGGDX returned 10.52%/yr vs 8.17%/yr for GDXJ. Their correlation of 0.94 means they have usually moved in the same direction. SGGDX charges 1.19%/yr vs 0.52%/yr for GDXJ.
Performance
SGGDX vs. GDXJ - Performance Comparison
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Returns By Period
In the year-to-date period, SGGDX achieves a -7.30% return, which is significantly higher than GDXJ's -16.16% return. Over the past 10 years, SGGDX has outperformed GDXJ with an annualized return of 10.52%, while GDXJ has yielded a comparatively lower 8.17% annualized return.
SGGDX
- 1D
- 3.06%
- 1M
- -1.10%
- 6M
- -15.86%
- YTD
- -7.30%
- 1Y
- 44.46%
- 3Y*
- 33.04%
- 5Y*
- 18.55%
- 10Y*
- 10.52%
- ALL TIME*
- 7.39%
GDXJ
- 1D
- -3.69%
- 1M
- -7.31%
- 6M
- -23.13%
- YTD
- -16.16%
- 1Y
- 50.07%
- 3Y*
- 40.59%
- 5Y*
- 17.64%
- 10Y*
- 8.17%
- ALL TIME*
- 1.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $446.17M | $451.03M | $619.88M | |
| $0.00 | $0.00 | $0.00 |
SGGDX vs. GDXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGGDX First Eagle Gold Fund | -7.30% | 128.39% | 10.32% | 7.01% | -1.56% | -7.78% | 29.63% | 38.51% | -15.90% | 8.12% |
GDXJ VanEck Junior Gold Miners ETF | -16.16% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | 8.22% |
Correlation
The correlation between SGGDX and GDXJ is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2009 | 0.94 |
The correlation between SGGDX and GDXJ has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
SGGDX vs. GDXJ — Risk / Return Rank
SGGDX
GDXJ
SGGDX vs. GDXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Eagle Gold Fund (SGGDX) and VanEck Junior Gold Miners ETF (GDXJ). 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.
| SGGDX | GDXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 1.26 | +0.09 |
| Martin ratioReturn relative to average drawdown | 2.96 | 2.68 | +0.28 |
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Drawdowns
SGGDX vs. GDXJ - Drawdown Comparison
The maximum SGGDX drawdown since its inception was -70.69%, smaller than the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for SGGDX and GDXJ.
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Drawdown Indicators
| SGGDX | GDXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.69% | -88.66% | +17.97% |
Max Drawdown (1Y)Largest decline over 1 year | -34.57% | -41.32% | +6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -34.57% | -41.32% | +6.75% |
Max Drawdown (5Y)Largest decline over 5 years | -34.57% | -48.79% | +14.22% |
Max Drawdown (10Y)Largest decline over 10 years | -42.16% | -57.77% | +15.61% |
Current DrawdownCurrent decline from peak | -30.18% | -38.93% | +8.75% |
Average DrawdownAverage peak-to-trough decline | -29.43% | -60.26% | +30.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.71% | 19.42% | -3.71% |
Volatility
SGGDX vs. GDXJ - Volatility Comparison
The current volatility for First Eagle Gold Fund (SGGDX) is 9.82%, while VanEck Junior Gold Miners ETF (GDXJ) has a volatility of 14.90%. This indicates that SGGDX experiences smaller price fluctuations and is considered to be less risky than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGGDX | GDXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 14.90% | -5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 33.80% | 44.56% | -10.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.64% | 53.86% | -13.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.48% | 42.07% | -12.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.41% | 44.18% | -16.77% |
SGGDX vs. GDXJ - Expense Ratio Comparison
SGGDX has a 1.19% expense ratio, which is higher than GDXJ's 0.52% expense ratio.
Dividends
SGGDX vs. GDXJ - Dividend Comparison
SGGDX's dividend yield for the trailing twelve months is around 1.17%, less than GDXJ's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | 2.78% | 2.33% | 2.61% | 0.72% | 0.51% | 1.78% | 1.58% | 0.39% | 0.45% | 0.03% | 4.78% | 0.72% |
SGGDX First Eagle Gold Fund | 1.17% | 1.08% | 5.26% | 0.87% | 0.00% | 0.96% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, SGGDX and GDXJ 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.
GDXJ has higher volatility (14.90%) compared to SGGDX (9.82%). In terms of maximum drawdown, SGGDX dropped -70.69% vs GDXJ's -88.66%.
SGGDX currently has the higher Sharpe Ratio (1.15 vs 0.97), 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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