- ISIN
- US7154261025
- CUSIP
- 38150K103
- Issuer
- Goldman Sachs
- Inception Date
- Jul 26, 2018
- Region
- Global (Broad)
- Category
- Gold, Precious Metals
- Leveraged
- 1x (No leverage)
- Index Tracked
- LBMA Gold PM Price
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $2B
Highlights
- Avg. Volume (1M)
- 1M
- Avg. Volume Value (1M)
- $43.92M
Share Price Chart
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Performance
AAAU Performance Chart
Goldman Sachs Physical Gold ETF (AAAU) is down 6.2% since the beginning of the year. AAAU is currently trading at $40 per share. Investors who bought $1,000 worth of AAAU shares 5 years ago would now be looking at an investment worth $2,211.
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Returns By Period
Goldman Sachs Physical Gold ETF (AAAU) has returned -6.16% so far this year and 20.45% over the past 12 months.
Goldman Sachs Physical Gold ETF
- 1D
- -1.46%
- 1M
- -1.72%
- 6M
- -16.57%
- YTD
- -6.16%
- 1Y
- 20.45%
- 3Y*
- 27.49%
- 5Y*
- 17.20%
- 10Y*
- —
- ALL TIME*
- 16.50%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
AAAU Monthly Returns History
Based on dividend-adjusted daily data since Aug 15, 2018, AAAU's average daily return is +0.07%, while the average monthly return is +1.38%. At this rate, an investment would double in approximately 4.2 years.
Historically, 56% of months were positive and 44% were negative. The best month was Jan 2026 with a return of +12.5%, while the worst month was Jun 2026 at -11.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.
On a daily basis, AAAU closed higher 53% of trading days. The best single day was Feb 3, 2026 with a return of +6.2%, while the worst single day was Jan 30, 2026 at -10.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 12.48% | 8.48% | -11.04% | -1.49% | -1.52% | -11.69% | 0.91% | -6.16% | |||||
| 2025 | 6.77% | 1.95% | 9.39% | 5.44% | -0.05% | 0.41% | -0.58% | 4.96% | 11.79% | 3.57% | 5.41% | 2.25% | 64.06% |
| 2024 | -1.42% | 0.45% | 8.67% | 3.12% | 1.59% | -0.13% | 5.37% | 2.12% | 5.13% | 4.34% | -3.15% | -1.39% | 26.91% |
| 2023 | 5.75% | -5.28% | 7.89% | 0.92% | -1.34% | -2.21% | 2.26% | -1.23% | -4.76% | 7.40% | 2.54% | 1.34% | 12.96% |
| 2022 | -1.62% | 6.18% | 1.26% | -2.05% | -3.19% | -1.62% | -2.51% | -2.97% | -2.80% | -1.82% | 8.43% | 3.02% | -0.50% |
| 2021 | -3.12% | -6.32% | -1.16% | 3.59% | 7.64% | -7.10% | 2.61% | -0.00% | -3.32% | 1.55% | -0.68% | 3.24% | -4.01% |
Benchmark Metrics
Goldman Sachs Physical Gold ETF has an annualized alpha of 16.50%, beta of 0.11, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since August 15, 2018.
- This ETF captured 40.50% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -9.64%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.11 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 16.50%
- Beta
- 0.11
- R²
- 0.02
- Upside Capture
- 40.50%
- Downside Capture
- -9.64%
Expense Ratio
AAAU has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
AAAU ranks 30 for risk / return — above 30% of ETFs peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Goldman Sachs Physical Gold ETF (AAAU) and compare them to S&P 500 Index.
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.
| AAAU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.00 | -1.13 |
| Martin ratioReturn relative to average drawdown | 1.89 | 8.49 | -6.60 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Goldman Sachs Physical Gold ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Goldman Sachs Physical Gold ETF was 26.29%, occurring on Jul 16, 2026. The portfolio has not yet recovered.
The current Goldman Sachs Physical Gold ETF drawdown is 24.96%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-26.29%Jul 2026 | 5mo 17d | — | 6mo 5dJan 2026 - now | — |
-21.63%Sep 2022 | 2y 1mo | 1y 3mo | 3y 4moAug 2020 - Dec 2023 | Bear market2022 |
-12.43%Mar 2020 | 9d | 21d | 1moMar 2020 - Apr 2020 | COVID crash2020 |
-10.06%Nov 2025 | 14d | 1mo 18d | 2mo 2dOct 2025 - Dec 2025 | — |
-8.12%Nov 2024 | 15d | 2mo 16d | 3mo 1dOct 2024 - Jan 2025 | — |
Drawdown Indicators
| AAAU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.29% | -56.78% | +30.49% |
Max Drawdown (1Y)Largest decline over 1 year | -26.29% | -9.10% | -17.19% |
Max Drawdown (3Y)Largest decline over 3 years | -26.29% | -18.90% | -7.39% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -25.43% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -24.96% | -1.58% | -23.38% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -10.70% | +4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.13% | 2.14% | +9.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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