AAAU vs. XLE
AAAU (Goldman Sachs Physical Gold ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - AAAU is a Gold fund tracking the LBMA Gold PM Price, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 5 years, AAAU returned 18.56%/yr vs 19.05%/yr for XLE. At a 0.07 correlation, their price movements are largely independent. AAAU charges 0.18%/yr vs 0.08%/yr for XLE.
Performance
AAAU vs. XLE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AAAU achieves a 0.14% return, which is significantly lower than XLE's 25.06% return.
AAAU
- 1D
- 2.60%
- 1M
- -4.95%
- YTD
- 0.14%
- 6M
- 0.28%
- 1Y
- 25.66%
- 3Y*
- 30.02%
- 5Y*
- 18.56%
- 10Y*
- —
XLE
- 1D
- -3.48%
- 1M
- -6.54%
- YTD
- 25.06%
- 6M
- 24.78%
- 1Y
- 30.16%
- 3Y*
- 14.85%
- 5Y*
- 19.05%
- 10Y*
- 9.49%
AAAU vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | 0.14% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 8.28% |
XLE State Street Energy Select Sector SPDR ETF | 25.06% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -21.78% |
Correlation
The correlation between AAAU and XLE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018 | 0.07 |
The correlation between AAAU and XLE shifts across timeframes, from -0.02 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AAAU vs. XLE — Risk / Return Rank
AAAU
XLE
AAAU vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Physical Gold ETF (AAAU) and State Street Energy Select Sector SPDR ETF (XLE). 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 | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 2.51 | -1.46 |
| Martin ratioReturn relative to average drawdown | 3.02 | 6.91 | -3.88 |
Loading charts...
Drawdowns
AAAU vs. XLE - Drawdown Comparison
The maximum AAAU drawdown since its inception was -24.38%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for AAAU and XLE.
Loading charts...
Drawdown Indicators
| AAAU | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.38% | -71.26% | +46.88% |
Max Drawdown (1Y)Largest decline over 1 year | -24.38% | -12.05% | -12.33% |
Max Drawdown (3Y)Largest decline over 3 years | -24.38% | -20.14% | -4.24% |
Max Drawdown (5Y)Largest decline over 5 years | -24.38% | -26.04% | +1.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.81% | — |
Current DrawdownCurrent decline from peak | -19.92% | -11.21% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -17.97% | +11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.54% | 4.38% | +4.16% |
Volatility
AAAU vs. XLE - Volatility Comparison
Goldman Sachs Physical Gold ETF (AAAU) and State Street Energy Select Sector SPDR ETF (XLE) have volatilities of 8.35% and 8.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AAAU | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.35% | 8.02% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 23.99% | 17.19% | +6.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.22% | 20.86% | +6.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 26.10% | -8.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.15% | 29.61% | -12.46% |
AAAU vs. XLE - Expense Ratio Comparison
AAAU has a 0.18% expense ratio, which is higher than XLE's 0.08% 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. XLE - Dividend Comparison
AAAU has not paid dividends to shareholders, while XLE's dividend yield for the trailing twelve months is around 2.69%.
| 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% |
XLE State Street Energy Select Sector SPDR ETF | 2.69% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
AAAU and XLE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAAU has higher volatility (8.35%) compared to XLE (8.02%). In terms of maximum drawdown, AAAU dropped -24.38% vs XLE's -71.26%.
On 5-year performance, XLE leads with 19.05% vs 18.56% for AAAU. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 8.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLE has performed better with a 19.05% return vs 18.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 0.18% for AAAU.
XLE has the higher dividend yield at 2.69%, compared with 0.00% for AAAU.
AAAU is categorized as Gold, while XLE is Energy Equities. AAAU tracks LBMA Gold PM Price, while XLE tracks Energy Select Sector Index. They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.18% for AAAU and 0.08% for XLE.
XLE currently has the higher Sharpe Ratio (1.46 vs 0.95), 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.
Find the right allocation for AAAU and XLE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer