SGIIX vs. SPHQ

Last updated Jun 9, 2026

SGIIX (First Eagle Global Fund Class I) and SPHQ (Invesco S&P 500 Quality ETF) are both funds - SGIIX is a Global Equities fund managed by First Eagle, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Over the past 10 years, SGIIX returned 10.14%/yr vs 14.91%/yr for SPHQ. A 0.75 correlation means they provide meaningful diversification when combined. SGIIX charges 0.86%/yr vs 0.15%/yr for SPHQ.

Performance

SGIIX vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Global Fund Class I (SGIIX) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGIIX achieves a 5.96% return, which is significantly lower than SPHQ's 14.28% return. Over the past 10 years, SGIIX has underperformed SPHQ with an annualized return of 10.14%, while SPHQ has yielded a comparatively higher 14.91% annualized return.

SGIIX

• 1D: -2.17%
• 1M: -1.77%
• YTD: 5.96%
• 6M: 8.03%
• 1Y: 23.81%
• 3Y*: 18.25%
• 5Y*: 10.49%
• 10Y*: 10.14%

SPHQ

• 1D: 0.58%
• 1M: 3.64%
• YTD: 14.28%
• 6M: 15.48%
• 1Y: 21.15%
• 3Y*: 22.07%
• 5Y*: 14.25%
• 10Y*: 14.91%

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

SGIIX vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGIIX First Eagle Global Fund Class I	5.96%	31.94%	12.03%	13.04%	-6.23%	12.49%	8.63%	20.47%	-8.20%	13.78%
SPHQ Invesco S&P 500 Quality ETF	14.28%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%

Correlation

The correlation between SGIIX and SPHQ is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 7, 2005	0.75

The correlation between SGIIX and SPHQ shifts across timeframes, from 0.66 (1 year) to 0.79 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SGIIX vs. SPHQ — Risk / Return Rank

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

SGIIX

SGIIX Risk / Return Rank: 48
SGIIX Sharpe Ratio Rank: 57
SGIIX Sortino Ratio Rank: 50
SGIIX Omega Ratio Rank: 54
SGIIX Calmar Ratio Rank: 40
SGIIX Martin Ratio Rank: 39

SPHQ

SPHQ Risk / Return Rank: 55
SPHQ Sharpe Ratio Rank: 54
SPHQ Sortino Ratio Rank: 55
SPHQ Omega Ratio Rank: 51
SPHQ Calmar Ratio Rank: 53
SPHQ Martin Ratio Rank: 62

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.

SGIIX vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Global Fund Class I (SGIIX) and Invesco S&P 500 Quality ETF (SPHQ). 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.

	SGIIX	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.66	+0.48
Sortino ratio: Return per unit of downside risk	2.86	2.39	+0.46
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.10
Calmar ratio: Return relative to maximum drawdown	2.31	2.39	-0.07
Martin ratio: Return relative to average drawdown	8.10	10.19	-2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGIIX vs. SPHQ - Sharpe Ratio Comparison

The current SGIIX Sharpe Ratio is 2.13, which is comparable to the SPHQ Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of SGIIX and SPHQ, 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

	SGIIX	SPHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	1.66	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.87	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.84	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.53	+0.39

Drawdowns

SGIIX vs. SPHQ - Drawdown Comparison

The maximum SGIIX drawdown since its inception was -37.03%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for SGIIX and SPHQ.

Drawdown Indicators

	SGIIX	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-37.03%	-57.83%	+20.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-8.90%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-10.52%	-16.57%	+6.05%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-25.04%	+5.62%
Max Drawdown (10Y) Largest decline over 10 years	-27.64%	-31.60%	+3.96%
Current Drawdown Current decline from peak	-4.63%	-1.62%	-3.01%
Average Drawdown Average peak-to-trough decline	-3.71%	-10.70%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.09%	+0.91%

Volatility

SGIIX vs. SPHQ - Volatility Comparison

The current volatility for First Eagle Global Fund Class I (SGIIX) is 3.22%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 3.90%. This indicates that SGIIX experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGIIX	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	3.90%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	10.45%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	11.41%	12.83%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.00%	16.48%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.51%	17.88%	-5.37%

SGIIX vs. SPHQ - Expense Ratio Comparison

SGIIX has a 0.86% expense ratio, which is higher than SPHQ's 0.15% expense ratio.

Dividends

SGIIX vs. SPHQ - Dividend Comparison

SGIIX's dividend yield for the trailing twelve months is around 9.07%, more than SPHQ's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGIIX First Eagle Global Fund Class I	9.07%	9.61%	5.68%	3.74%	4.41%	6.49%	2.61%	5.72%	6.66%	4.50%	4.96%	1.43%
SPHQ Invesco S&P 500 Quality ETF	1.05%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both SGIIX and SPHQ in my portfolio?

SGIIX and SPHQ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGIIX or SPHQ?

SPHQ has higher volatility (3.90%) compared to SGIIX (3.22%). In terms of maximum drawdown, SGIIX dropped -37.03% vs SPHQ's -57.83%.

Which has better risk-adjusted returns?

SGIIX currently has the higher Sharpe Ratio (2.13 vs 1.66), 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.