Fund Evaluator:
Guinness Atkinson Global Energy (GAGEX)
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Best Performing in Equity Energy Over the Last Year
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Fund Details
Guinness Atkinson Global Energy Overview
Guinness Atkinson Global Energy (GAGEX) is an actively managed Sector Equity Equity Energy fund. Guinness Atkinson launched the fund in 2004.
The investment seeks long-term capital appreciation. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in publicly-traded equity securities of both U.S. and non-U.S. companies principally engaged in the production, exploration or discovery, or distribution of energy including the research and development or production of alternative energy sources. It will invest in companies economically tied to U.S. and to foreign countries, including, potentially, companies domiciled or traded in emerging markets.
About Guinness Atkinson Global Energy (GAGEX)
There are 3 members of the management team with an average tenure of 17.00 years: Jonathan Waghorn (2013), Will Riley (2010), Timothy Guinness (2004). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and MSCI World/Energy NR USD index with a weighting of 100%. Guinness Atkinson Global Energy has 32 securities in its portfolio. The top 10 holdings constitute 44.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Guinness Atkinson Global Energy is part of the Equity global asset class and is within the Sector Equity fund group. Guinness Atkinson Global Energy has 54.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 44.4%. There is 54.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Guinness Atkinson Global Energy has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $12 million in total assets, which is below the $418 million average for the Equity Energy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GAGEX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Guinness Atkinson Global Energy expense ratio is high compared to funds in the Equity Energy category. Guinness Atkinson Global Energy has an expense ratio of 1.47%, which is 15% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Guinness Atkinson Global Energy has a portfolio turnover rate of 9%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 136% for the Equity Energy category.
Recently, in the month of June 2026, Guinness Atkinson Global Energy returned -7.3%, which earned it a grade of D, as the Equity Energy category had an average return of -5.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Guinness Atkinson Global Energy has a trailing yield of 2.34%, which is above the 1.40% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Guinness Atkinson Global Energy Grades
Year to date, the fund has returned 20.5%, 2.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 33.8% over the past year (grade of C), 14.1% over the past three years (grade of D) and 15.5% per year over the past five years (grade of D) and 6.0% per year over the past 10 years (grade of D).
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GAGEX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GAGEX Return (NAV) | -7.3% | -12.6% | 33.8% | 14.1% | 15.5% | 6.0% |
| GAGEX Grade | D | D | C | D | D | D |
| +/- Category | -2.1% | -3.2% | -1.2% | -1.5% | -2.0% | -0.3% |
| Equity Energy Avg | -5.2% | -9.4% | 34.9% | 15.6% | 17.5% | 6.4% |
| GAGEX Tax Cost Ratio | na | na | 1.1% | 1.8% | 1.3% | 1.1% |
GAGEX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GAGEX Return (NAV) | 20.5% | 16.9% | -1.7% | 2.6% | 34.3% | 46.0% | -34.2% | 10.4% | -18.9% | -1.1% | 27.0% |
| GAGEX Grade | C | B | F | B | D | C | D | B | A | B | C |
| +/- Category | -2.0% | 4.7% | -7.2% | 0.6% | -12.2% | 1.5% | -5.7% | 2.4% | 8.0% | 4.0% | -2.1% |
| Equity Energy Avg | 22.5% | 12.2% | 5.5% | 2.0% | 46.5% | 44.5% | -28.5% | 8.0% | -26.9% | -5.0% | 29.2% |
| Risk Measures | |
| Standard Deviation: | 18.2% |
| Total Risk Index: | 1.50 - High |
| Category Risk Index: | 0.95 - Average |
| Category Risk Grade: | C (42% Rank) |
| Beta: | -0.07 |
| R-Squared: | 0% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $12 Mil |
| Fund Total Assets: | $ 13 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 22.0 years | |||
| Average Tenure: 17.0 years | |||
| Managers (Year): Guinness Timothy (2004), Riley Will (2010), Waghorn Jonathan (2013) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 32 |
| % in Top 10 Holdings: | 44.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 54.4% |
Portfolio Allocation |
|
| Domestic Stock: | 44.4% |
| Foreign Stock: | 54.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Guinness Atkinson |
| Phone Number: | 800-915-6566 |
| Website: | www.gafunds.com |
| Status: | Open |
| Inception Date: | June 30, 2004 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.47% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | Guinness Atkinson Global Energy |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 250 |
