USERX vs. NEARX

Last updated Jun 4, 2026

USERX (U.S. Global Investors Gold & Precious Metals Fund) and NEARX (U.S. Global Investors Near-Term Tax Free Fund) are both mutual funds - USERX is a Precious Metals fund managed by US Global, while NEARX is a Municipal Bonds fund managed by US Global. Over the past 10 years, USERX returned 15.38%/yr vs 1.06%/yr for NEARX. At a 0.01 correlation, their price movements are largely independent. USERX charges 1.52%/yr vs 0.45%/yr for NEARX.

Performance

USERX vs. NEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Gold & Precious Metals Fund (USERX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USERX achieves a 4.58% return, which is significantly higher than NEARX's 0.56% return. Over the past 10 years, USERX has outperformed NEARX with an annualized return of 15.38%, while NEARX has yielded a comparatively lower 1.06% annualized return.

USERX

• 1D: 1.42%
• 1M: 4.23%
• YTD: 4.58%
• 6M: 12.99%
• 1Y: 75.95%
• 3Y*: 48.36%
• 5Y*: 18.56%
• 10Y*: 15.38%

NEARX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 0.56%
• 6M: 0.79%
• 1Y: 2.52%
• 3Y*: 2.98%
• 5Y*: 0.76%
• 10Y*: 1.06%

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

USERX vs. NEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USERX U.S. Global Investors Gold & Precious Metals Fund	4.58%	167.44%	16.75%	1.44%	-17.44%	-10.80%	37.16%	51.34%	-14.24%	13.07%
NEARX U.S. Global Investors Near-Term Tax Free Fund	0.56%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%

Correlation

The correlation between USERX and NEARX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Dec 3, 1990	0.01

Return for Risk

USERX vs. NEARX — Risk / Return Rank

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

USERX

USERX Risk / Return Rank: 32
USERX Sharpe Ratio Rank: 37
USERX Sortino Ratio Rank: 25
USERX Omega Ratio Rank: 32
USERX Calmar Ratio Rank: 41
USERX Martin Ratio Rank: 25

NEARX

NEARX Risk / Return Rank: 25
NEARX Sharpe Ratio Rank: 13
NEARX Sortino Ratio Rank: 15
NEARX Omega Ratio Rank: 56
NEARX Calmar Ratio Rank: 22
NEARX Martin Ratio Rank: 17

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.

USERX vs. NEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Gold & Precious Metals Fund (USERX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). 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.

	USERX	NEARX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.01	+0.75
Sortino ratio: Return per unit of downside risk	2.10	1.57	+0.53
Omega ratio: Gain probability vs. loss probability	1.30	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.42	1.74	+0.68
Martin ratio: Return relative to average drawdown	6.24	4.71	+1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USERX vs. NEARX - Sharpe Ratio Comparison

The current USERX Sharpe Ratio is 1.77, which is higher than the NEARX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of USERX and NEARX, 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

	USERX	NEARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.01	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.30	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.42	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.08	-0.07

Drawdowns

USERX vs. NEARX - Drawdown Comparison

The maximum USERX drawdown since its inception was -97.74%, which is greater than NEARX's maximum drawdown of -80.12%. Use the drawdown chart below to compare losses from any high point for USERX and NEARX.

Drawdown Indicators

	USERX	NEARX	Difference
Max Drawdown Largest peak-to-trough decline	-97.74%	-80.12%	-17.62%
Max Drawdown (1Y) Largest decline over 1 year	-32.20%	-1.45%	-30.75%
Max Drawdown (3Y) Largest decline over 3 years	-32.20%	-1.45%	-30.75%
Max Drawdown (5Y) Largest decline over 5 years	-43.45%	-6.91%	-36.54%
Max Drawdown (10Y) Largest decline over 10 years	-43.45%	-6.91%	-36.54%
Current Drawdown Current decline from peak	-42.81%	-0.77%	-42.04%
Average Drawdown Average peak-to-trough decline	-75.03%	-20.83%	-54.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	0.54%	+11.92%

Volatility

USERX vs. NEARX - Volatility Comparison

U.S. Global Investors Gold & Precious Metals Fund (USERX) has a higher volatility of 14.30% compared to U.S. Global Investors Near-Term Tax Free Fund (NEARX) at 0.72%. This indicates that USERX's price experiences larger fluctuations and is considered to be riskier than NEARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USERX	NEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.30%	0.72%	+13.58%
Volatility (6M) Calculated over the trailing 6-month period	36.60%	1.73%	+34.87%
Volatility (1Y) Calculated over the trailing 1-year period	44.33%	2.50%	+41.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.19%	2.50%	+30.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.96%	2.55%	+31.41%

USERX vs. NEARX - Expense Ratio Comparison

USERX has a 1.52% expense ratio, which is higher than NEARX's 0.45% expense ratio.

Dividends

USERX vs. NEARX - Dividend Comparison

USERX's dividend yield for the trailing twelve months is around 5.55%, more than NEARX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.50%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
USERX U.S. Global Investors Gold & Precious Metals Fund	5.55%	2.95%	1.48%	0.00%	0.00%	2.13%	2.68%	0.00%	1.76%	0.00%	0.88%	0.47%

Frequently Asked Questions

Can I hold both USERX and NEARX in my portfolio?

USERX and NEARX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USERX or NEARX?

USERX has higher volatility (14.30%) compared to NEARX (0.72%). In terms of maximum drawdown, USERX dropped -97.74% vs NEARX's -80.12%.

Which has better risk-adjusted returns?

USERX currently has the higher Sharpe Ratio (1.77 vs 1.01), 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.