QGLAX Performance — The Gold Bullion Strategy Fund
Data updated: 2026-08-14
QGLAX returned −7.22% year to date and +19.41% over one year to Jun 2026. Annualised returns are +25.08% over 3 years and +14.62% over 5 years. Against its Commodities category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $196, against $165 for the category, and to $119 over one year, against $130. Volatility over the past three years was 18.06% a year. In the 12 months to Jun 2026 the fund took in a net $9.8M, and assets reached $115.62M. Returns are those of sibling share class QGLDX; this class's own returns are not reported in filings.
QGLAX Growth of $100
What $100 invested in The Gold Bullion Strategy Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Commodities category average over the same months.
| Period | QGLAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $119 | $130 |
| 3 years (Jul 2023 – Jun 2026) | $196 | $165 |
| 5 years (Jul 2021 – Jun 2026) | $198 | $171 |
| Since data start (Jan 2020 – Jun 2026) | $217 | $202 |
QGLAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −7.22% |
| 1 year | +19.41% |
| 3 years (annualised) | +25.08% |
| 5 years (annualised) | +14.62% |
QGLAX Annual Returns
Calendar-year total returns of The Gold Bullion Strategy Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | −7.22% |
| 2025 | +59.82% |
| 2024 | +24.16% |
| 2023 | +10.36% |
| 2022 | −4.61% |
| 2021 | −6.23% |
| 2020 | +19.34% |
QGLAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +12.1% | +8.8% | −11.2% | −1.6% | −1.5% | −11.6% | — | — | — | — | — | — |
| 2025 | +6.5% | +1.4% | +9.5% | +5.0% | −0.2% | +0.3% | −0.8% | +5.4% | +10.9% | +3.5% | +5.2% | +2.0% |
| 2024 | −1.7% | +0.3% | +8.4% | +3.0% | +1.3% | −0.2% | +5.1% | +1.9% | +5.0% | +4.2% | −3.3% | −1.5% |
| 2023 | +5.6% | −5.6% | +7.8% | +0.8% | −1.6% | −2.5% | +2.2% | −1.5% | −5.0% | +7.2% | +2.5% | +1.2% |
| 2022 | −2.2% | +5.9% | +0.6% | −2.7% | −3.3% | −2.2% | −2.6% | −3.3% | −3.2% | −2.1% | +8.5% | +2.7% |
| 2021 | −3.5% | −6.6% | −1.3% | +3.4% | +7.7% | −7.3% | +2.4% | −0.1% | −3.5% | +1.4% | −1.0% | +3.1% |
| 2020 | +4.3% | −0.7% | −2.3% | +7.3% | +2.3% | +3.2% | +9.5% | −0.9% | −4.3% | −0.9% | −5.5% | +7.0% |
QGLAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 18.06%
- 3-year Sharpe ratio: 1.14 (vs 4.5% risk-free rate)
- Best month: +12.08% (Jan 2026)
- Worst month: −11.59% (Jun 2026)
QGLAX Fund Flows
Monthly money in and out of The Gold Bullion Strategy Fund, from SEC Form N-PORT.
- 12-month net flow: $9.8M
- 12-month gross sales (incl. reinvestments): $262.8M
- Sales ÷ redemptions: 1.04×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $10.6M | $11.4M | −$749K |
| May 2026 | $11.0M | $9.1M | $2.0M |
| Apr 2026 | $6.8M | $39.2M | −$32.4M |
| Mar 2026 | $29.9M | $9.7M | $20.2M |
| Feb 2026 | $12.5M | $52.8M | −$40.3M |
| Jan 2026 | $17.4M | $34.3M | −$16.9M |
| Dec 2025 | $84.3M | $11.5M | $72.8M |
| Nov 2025 | $32.5M | $8.1M | $24.4M |
| Oct 2025 | $24.1M | $19.1M | $5.0M |
| Sep 2025 | $16.2M | $12.8M | $3.4M |
| Aug 2025 | $5.3M | $30.3M | −$25.1M |
| Jul 2025 | $12.2M | $14.7M | −$2.5M |
QGLAX Assets Under Management
Net assets of The Gold Bullion Strategy Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $115.62M |
| 2026-03-31 | $166.83M |
| 2025-12-31 | $188.83M |
| 2025-09-30 | $140.08M |
| 2025-06-30 | $145.28M |
| 2025-03-31 | $140.83M |
| 2024-12-31 | $103.67M |
| 2024-09-30 | $111.98M |
| 2024-06-30 | $107.46M |
| 2024-03-31 | $90.72M |
| 2023-12-31 | $119.38M |
| 2023-09-30 | $101.54M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.