SOAEX vs. GRHIX

Last updated Jun 24, 2026

SOAEX (Spirit of America Energy Fund) and GRHIX (Goehring & Rozencwajg Resources Fund) are both Energy Equities funds. Over the past 5 years, SOAEX returned 18.05%/yr vs 19.57%/yr for GRHIX. A 0.74 correlation means they provide meaningful diversification when combined. SOAEX charges 1.50%/yr vs 0.92%/yr for GRHIX.

Performance

SOAEX vs. GRHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spirit of America Energy Fund (SOAEX) and Goehring & Rozencwajg Resources Fund (GRHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOAEX achieves a 23.07% return, which is significantly higher than GRHIX's 6.47% return.

SOAEX

• 1D: 1.38%
• 1M: -5.30%
• YTD: 23.07%
• 6M: 22.73%
• 1Y: 26.90%
• 3Y*: 21.93%
• 5Y*: 18.05%
• 10Y*: 33.25%

GRHIX

• 1D: -0.48%
• 1M: -9.75%
• YTD: 6.47%
• 6M: 4.65%
• 1Y: 40.57%
• 3Y*: 25.64%
• 5Y*: 19.57%
• 10Y*: —

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

SOAEX vs. GRHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOAEX Spirit of America Energy Fund	23.07%	6.05%	19.30%	13.10%	30.26%	34.19%	96.43%	11.49%	148.45%	-3.97%
GRHIX Goehring & Rozencwajg Resources Fund	6.47%	61.65%	-1.51%	16.61%	16.38%	62.15%	-2.74%	0.01%	-30.03%	-0.96%

Correlation

The correlation between SOAEX and GRHIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.74

Over the past year, the correlation between SOAEX and GRHIX has dropped to 0.47 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

SOAEX vs. GRHIX — Risk / Return Rank

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

SOAEX

SOAEX Risk / Return Rank: 41
SOAEX Sharpe Ratio Rank: 34
SOAEX Sortino Ratio Rank: 31
SOAEX Omega Ratio Rank: 29
SOAEX Calmar Ratio Rank: 70
SOAEX Martin Ratio Rank: 42

GRHIX

GRHIX Risk / Return Rank: 36
GRHIX Sharpe Ratio Rank: 35
GRHIX Sortino Ratio Rank: 29
GRHIX Omega Ratio Rank: 29
GRHIX Calmar Ratio Rank: 48
GRHIX Martin Ratio Rank: 38

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.

SOAEX vs. GRHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spirit of America Energy Fund (SOAEX) and Goehring & Rozencwajg Resources Fund (GRHIX). 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.

	SOAEX	GRHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.58	-0.02
Sortino ratio: Return per unit of downside risk	2.15	2.06	+0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	3.09	2.53	+0.56
Martin ratio: Return relative to average drawdown	8.45	7.86	+0.59

SOAEX vs. GRHIX - Sharpe Ratio Comparison

The current SOAEX Sharpe Ratio is 1.56, which is comparable to the GRHIX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of SOAEX and GRHIX, 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

SOAEX vs. GRHIX - Drawdown Comparison

The maximum SOAEX drawdown since its inception was -67.07%, smaller than the maximum GRHIX drawdown of -70.61%. Use the drawdown chart below to compare losses from any high point for SOAEX and GRHIX.

Drawdown Indicators

	SOAEX	GRHIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.07%	-70.61%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-15.79%	+7.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-25.32%	+6.02%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	-31.47%	+10.63%
Max Drawdown (10Y) Largest decline over 10 years	-67.07%	—	—
Current Drawdown Current decline from peak	-6.17%	-15.79%	+9.62%
Average Drawdown Average peak-to-trough decline	-14.84%	-18.18%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	5.08%	-2.14%

Volatility

SOAEX vs. GRHIX - Volatility Comparison

The current volatility for Spirit of America Energy Fund (SOAEX) is 5.31%, while Goehring & Rozencwajg Resources Fund (GRHIX) has a volatility of 8.30%. This indicates that SOAEX experiences smaller price fluctuations and is considered to be less risky than GRHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOAEX	GRHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	8.30%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	19.20%	-6.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	25.36%	-9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	29.12%	-9.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.73%	29.50%	+68.23%

SOAEX vs. GRHIX - Expense Ratio Comparison

SOAEX has a 1.50% expense ratio, which is higher than GRHIX's 0.92% expense ratio.

Dividends

SOAEX vs. GRHIX - Dividend Comparison

SOAEX's dividend yield for the trailing twelve months is around 11.97%, more than GRHIX's 3.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRHIX Goehring & Rozencwajg Resources Fund	3.19%	3.39%	4.02%	3.19%	1.21%	3.25%	2.03%	0.57%	1.18%	0.51%	0.00%	0.00%
SOAEX Spirit of America Energy Fund	11.97%	13.91%	26.36%	24.88%	22.14%	23.25%	21.16%	20.73%	15.62%	17.90%	13.40%	14.76%

Frequently Asked Questions

Can I hold both SOAEX and GRHIX in my portfolio?

SOAEX and GRHIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOAEX or GRHIX?

GRHIX has higher volatility (8.30%) compared to SOAEX (5.31%). In terms of maximum drawdown, SOAEX dropped -67.07% vs GRHIX's -70.61%.

Which has better risk-adjusted returns?

GRHIX currently has the higher Sharpe Ratio (1.58 vs 1.56), 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.