AAAU vs. BND
AAAU (Goldman Sachs Physical Gold ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - AAAU is a Gold fund tracking the LBMA Gold PM Price, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 5 years, AAAU returned 17.54%/yr vs -0.37%/yr for BND. Their 0.34 correlation means their historical movements had little consistent relationship. AAAU charges 0.18%/yr vs 0.03%/yr for BND.
Performance
AAAU vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, AAAU achieves a -4.77% return, which is significantly lower than BND's -0.28% return.
AAAU
- 1D
- 1.66%
- 1M
- 2.40%
- 6M
- -23.85%
- YTD
- -4.77%
- 1Y
- 25.49%
- 3Y*
- 27.68%
- 5Y*
- 17.54%
- 10Y*
- —
- ALL TIME*
- 16.72%
BND
- 1D
- 0.06%
- 1M
- -1.02%
- 6M
- -0.53%
- YTD
- -0.28%
- 1Y
- 2.92%
- 3Y*
- 3.79%
- 5Y*
- -0.37%
- 10Y*
- 1.38%
- ALL TIME*
- 3.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $44.00M | $44.27M | $64.81M | |
| $447.57M | $557.69M | $594.86M |
AAAU vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | -4.77% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 8.28% |
BND Vanguard Total Bond Market ETF | -0.28% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | 1.31% |
Correlation
The correlation between AAAU and BND is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018 | 0.34 |
The correlation between AAAU and BND shifts across timeframes, from 0.24 (3 years) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AAAU vs. BND — Risk / Return Rank
AAAU
BND
AAAU vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Physical Gold ETF (AAAU) and Vanguard Total Bond Market ETF (BND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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 | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.14 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.10 | -0.12 |
| Martin ratioReturn relative to average drawdown | 2.13 | 2.77 | -0.64 |
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Drawdowns
AAAU vs. BND - Drawdown Comparison
The maximum AAAU drawdown since its inception was -26.29%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for AAAU and BND.
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Drawdown Indicators
| AAAU | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.29% | -18.58% | -7.71% |
Max Drawdown (1Y)Largest decline over 1 year | -26.29% | -2.68% | -23.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.29% | -4.81% | -21.48% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -17.91% | -8.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -23.85% | -2.90% | -20.95% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -3.06% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.02% | 1.06% | +10.96% |
Volatility
AAAU vs. BND - Volatility Comparison
Goldman Sachs Physical Gold ETF (AAAU) has a higher volatility of 6.13% compared to Vanguard Total Bond Market ETF (BND) at 0.96%. This indicates that AAAU's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAAU | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 0.96% | +5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 23.25% | 2.88% | +20.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 3.70% | +24.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.31% | 6.03% | +12.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.23% | 5.53% | +11.70% |
AAAU vs. BND - Expense Ratio Comparison
AAAU has a 0.18% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AAAU vs. BND - Dividend Comparison
AAAU has not paid dividends to shareholders, while BND's dividend yield for the trailing twelve months is around 4.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BND Vanguard Total Bond Market ETF | 4.01% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Frequently Asked Questions
AAAU and BND have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAAU has higher volatility (6.13%) compared to BND (0.96%). In terms of maximum drawdown, AAAU dropped -26.29% vs BND's -18.58%.
On 5-year performance, AAAU leads with 17.54% vs -0.37% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AAAU has performed better with a 17.54% return vs -0.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.18% for AAAU.
BND has the higher dividend yield at 4.01%, compared with 0.00% for AAAU.
AAAU is categorized as Gold, while BND is Total Bond Market. AAAU tracks LBMA Gold PM Price, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.18% for AAAU and 0.03% for BND.
AAAU currently has the higher Sharpe Ratio (0.92 vs 0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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