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Gold (GC=F)
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Gold (GC=F)

Futures · Currency in USD · Last updated Jul 14, 2025

Share Price Chart

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Gold

Popular comparisons:
GC=F vs. GOLD GC=F vs. ^GSPC GC=F vs. XAUUSD=X GC=F vs. UUP GC=F vs. HG=F GC=F vs. PHYS GC=F vs. BZ=F GC=F vs. GLL GC=F vs. FXA GC=F vs. JNUG
Popular comparisons:
GC=F vs. GOLD GC=F vs. ^GSPC GC=F vs. XAUUSD=X GC=F vs. UUP GC=F vs. HG=F GC=F vs. PHYS GC=F vs. BZ=F GC=F vs. GLL GC=F vs. FXA GC=F vs. JNUG

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Gold, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

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S&P 500

Returns By Period

Gold (GC=F) has returned 27.64% so far this year and 39.02% over the past 12 months. Over the last ten years, GC=F has had an annualized return of 11.27%, just under the S&P 500 benchmark’s 11.49%.

GC=F

YTD
27.64%
1M
-2.19%
6M
23.91%
1Y
39.02%
3Y*
24.88%
5Y*
13.29%
10Y*
11.27%

^GSPC (Benchmark)

YTD
6.43%
1M
4.73%
6M
7.43%
1Y
11.48%
3Y*
17.91%
5Y*
14.47%
10Y*
11.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

The table below presents the monthly returns of GC=F, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

Based on daily data since Aug 2000, the average daily return (also called the expected return) is 0.04%, while the average monthly return is 0.95%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20256.97%0.86%10.08%5.83%-0.49%0.17%0.98%26.53%
2024-0.68%-0.13%8.39%3.34%1.37%0.21%4.24%2.77%5.71%3.88%-2.97%-1.05%27.48%
20236.03%-5.21%7.66%1.07%-1.32%-2.18%2.57%-1.64%-4.65%7.42%2.66%1.19%13.34%
2022-1.78%5.82%2.62%-2.05%-3.49%-2.09%-2.28%-2.84%-2.94%-1.59%6.73%4.22%-0.43%
2021-2.42%-6.45%-0.83%3.12%7.65%-6.92%2.36%0.13%-3.29%1.58%-0.53%3.04%-3.47%
20204.17%-1.19%1.23%6.37%3.13%3.23%9.47%0.24%-4.07%-0.54%-5.42%6.61%24.59%
20193.24%-0.52%-1.51%-0.79%1.79%7.96%1.16%6.52%-3.52%3.12%-3.03%3.68%18.87%
20182.50%-1.76%0.55%-0.50%-1.22%-3.75%-2.21%-1.91%-0.73%1.75%0.65%4.76%-2.14%
20175.10%3.64%-0.42%1.51%0.47%-2.46%2.09%3.92%-2.64%-1.13%0.49%2.60%13.59%
20165.29%10.52%0.02%4.46%-5.77%8.53%2.32%-3.12%0.49%-3.18%-7.92%-1.78%8.46%
20157.99%-5.15%-2.43%-0.06%0.59%-1.50%-6.54%3.35%-1.42%2.33%-6.63%-0.52%-10.44%
20143.18%6.56%-2.88%0.95%-3.86%6.12%-3.06%0.35%-5.86%-3.25%0.35%0.74%-1.50%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 97, GC=F is among the top 3% of futures on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of GC=F is 9797
Overall Rank
The Sharpe Ratio Rank of GC=F is 100100
Sharpe Ratio Rank
The Sortino Ratio Rank of GC=F is 9494
Sortino Ratio Rank
The Omega Ratio Rank of GC=F is 100100
Omega Ratio Rank
The Calmar Ratio Rank of GC=F is 9494
Calmar Ratio Rank
The Martin Ratio Rank of GC=F is 9494
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Gold (GC=F) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Gold Sharpe ratios as of Jul 14, 2025 (values are recalculated daily):

  • 1-Year: 2.14
  • 5-Year: 0.84
  • 10-Year: 0.75
  • All Time: 0.59

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Gold compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

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 Gold. 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 Gold was 44.36%, occurring on Dec 17, 2015. Recovery took 1156 trading sessions.

The current Gold drawdown is 2.19%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-44.36%Aug 23, 20111134Dec 17, 20151156Jul 23, 20202290
-29.73%Mar 19, 2008200Nov 13, 2008234Sep 11, 2009434
-21.92%May 12, 2006124Oct 4, 2006277Sep 19, 2007401
-20.87%Aug 7, 2020538Sep 26, 2022299Dec 1, 2023837
-15.17%Feb 5, 200344Apr 6, 2003134Sep 9, 2003178
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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