Vanguard Global Capital Cycles Fund, now invests at least 25% in precious metals and mining securities but also in high quality but scarce utility and telecom infrastructure, average annual since inception 5/23/1984 through July 2026:
6.10% (10 years 9.10%, 5 years 20.54%, 3 years 27.34%, 1 year 56.05%!)
SPX average per annum nominal, dividends reinvested, same period:
12.01%
