SGOVX vs. SMCF

Last updated Jun 5, 2026

SGOVX (First Eagle Overseas Fund) and SMCF (Themes US Small Cap Cash Flow Champions ETF) are both funds - SGOVX is a Foreign Large Cap Equities fund managed by First Eagle, while SMCF is a Small Cap Value Equities fund tracking the Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross. Over the past year, SGOVX returned 27.99% vs 35.72% for SMCF. At a 0.49 correlation, their price movements are largely independent. SGOVX charges 1.16%/yr vs 0.29%/yr for SMCF.

Performance

SGOVX vs. SMCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Overseas Fund (SGOVX) and Themes US Small Cap Cash Flow Champions ETF (SMCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGOVX achieves a 9.61% return, which is significantly lower than SMCF's 15.16% return.

SGOVX

• 1D: -0.92%
• 1M: 1.59%
• YTD: 9.61%
• 6M: 11.70%
• 1Y: 27.99%
• 3Y*: 18.70%
• 5Y*: 9.69%
• 10Y*: 8.22%

SMCF

• 1D: 1.24%
• 1M: -1.23%
• YTD: 15.16%
• 6M: 14.89%
• 1Y: 35.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOVX vs. SMCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGOVX First Eagle Overseas Fund	9.61%	38.69%	6.16%	2.02%
SMCF Themes US Small Cap Cash Flow Champions ETF	15.16%	9.56%	16.30%	4.47%

Correlation

The correlation between SGOVX and SMCF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.49

Return for Risk

SGOVX vs. SMCF — Risk / Return Rank

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

SGOVX

SGOVX Risk / Return Rank: 53
SGOVX Sharpe Ratio Rank: 64
SGOVX Sortino Ratio Rank: 54
SGOVX Omega Ratio Rank: 63
SGOVX Calmar Ratio Rank: 44
SGOVX Martin Ratio Rank: 40

SMCF

SMCF Risk / Return Rank: 74
SMCF Sharpe Ratio Rank: 69
SMCF Sortino Ratio Rank: 72
SMCF Omega Ratio Rank: 67
SMCF Calmar Ratio Rank: 88
SMCF Martin Ratio Rank: 72

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.

SGOVX vs. SMCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Overseas Fund (SGOVX) and Themes US Small Cap Cash Flow Champions ETF (SMCF). 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.

	SGOVX	SMCF	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.23	+0.13
Sortino ratio: Return per unit of downside risk	3.09	3.18	-0.08
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.05
Calmar ratio: Return relative to maximum drawdown	2.53	5.03	-2.51
Martin ratio: Return relative to average drawdown	8.59	13.54	-4.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGOVX vs. SMCF - Sharpe Ratio Comparison

The current SGOVX Sharpe Ratio is 2.36, which is comparable to the SMCF Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of SGOVX and SMCF, 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

	SGOVX	SMCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.23	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.94	-0.05

Drawdowns

SGOVX vs. SMCF - Drawdown Comparison

The maximum SGOVX drawdown since its inception was -35.68%, which is greater than SMCF's maximum drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for SGOVX and SMCF.

Drawdown Indicators

	SGOVX	SMCF	Difference
Max Drawdown Largest peak-to-trough decline	-35.68%	-28.48%	-7.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-7.13%	-4.25%
Max Drawdown (3Y) Largest decline over 3 years	-11.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.85%	—	—
Current Drawdown Current decline from peak	-3.78%	-1.23%	-2.55%
Average Drawdown Average peak-to-trough decline	-4.46%	-5.28%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	2.65%	+0.69%

Volatility

SGOVX vs. SMCF - Volatility Comparison

First Eagle Overseas Fund (SGOVX) and Themes US Small Cap Cash Flow Champions ETF (SMCF) have volatilities of 3.50% and 3.49%, 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

	SGOVX	SMCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.49%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	10.06%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	16.13%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.89%	20.31%	-8.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.42%	20.31%	-8.89%

SGOVX vs. SMCF - Expense Ratio Comparison

SGOVX has a 1.16% expense ratio, which is higher than SMCF's 0.29% expense ratio.

Dividends

SGOVX vs. SMCF - Dividend Comparison

SGOVX's dividend yield for the trailing twelve months is around 7.73%, more than SMCF's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGOVX First Eagle Overseas Fund	7.73%	8.47%	8.43%	2.24%	3.62%	5.76%	0.21%	5.54%	3.05%	3.40%	3.59%	1.32%
SMCF Themes US Small Cap Cash Flow Champions ETF	3.40%	3.91%	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGOVX and SMCF in my portfolio?

SGOVX and SMCF have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOVX or SMCF?

SGOVX has higher volatility (3.50%) compared to SMCF (3.49%). In terms of maximum drawdown, SGOVX dropped -35.68% vs SMCF's -28.48%.

Which has better risk-adjusted returns?

SGOVX currently has the higher Sharpe Ratio (2.36 vs 2.23), 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.