BAR vs. DGZ
Compare and contrast key facts about GraniteShares Gold Trust (BAR) and DB Gold Short Exchange Traded Notes (DGZ).
BAR and DGZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BAR is a passively managed fund by GraniteShares that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Aug 31, 2017. DGZ is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). It was launched on Feb 27, 2008. Both BAR and DGZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BAR vs. DGZ - Performance Comparison
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BAR vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 8.57% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -1.15% |
DGZ DB Gold Short Exchange Traded Notes | -9.08% | -32.55% | -16.46% | -4.75% | 4.93% | 1.53% | -20.80% | -13.42% | 4.88% | 1.65% |
Returns By Period
In the year-to-date period, BAR achieves a 8.57% return, which is significantly higher than DGZ's -9.08% return.
BAR
- 1D
- 3.76%
- 1M
- -11.05%
- YTD
- 8.57%
- 6M
- 21.20%
- 1Y
- 49.58%
- 3Y*
- 33.22%
- 5Y*
- 21.84%
- 10Y*
- —
DGZ
- 1D
- 0.81%
- 1M
- 11.14%
- YTD
- -9.08%
- 6M
- -16.77%
- 1Y
- -28.38%
- 3Y*
- -19.40%
- 5Y*
- -13.91%
- 10Y*
- -9.99%
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BAR vs. DGZ - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Return for Risk
BAR vs. DGZ — Risk / Return Rank
BAR
DGZ
BAR vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and DB Gold Short Exchange Traded Notes (DGZ). 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.
| BAR | DGZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.80 | -0.59 | +2.39 |
Sortino ratioReturn per unit of downside risk | 2.24 | -0.65 | +2.89 |
Omega ratioGain probability vs. loss probability | 1.33 | 0.92 | +0.41 |
Calmar ratioReturn relative to maximum drawdown | 2.70 | -0.69 | +3.39 |
Martin ratioReturn relative to average drawdown | 9.99 | -1.31 | +11.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BAR | DGZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | -0.59 | +2.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | -0.50 | +1.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | -0.38 | +1.35 |
Correlation
The correlation between BAR and DGZ is -0.68. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
BAR vs. DGZ - Dividend Comparison
Neither BAR nor DGZ has paid dividends to shareholders.
Drawdowns
BAR vs. DGZ - Drawdown Comparison
The maximum BAR drawdown since its inception was -21.53%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for BAR and DGZ.
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Drawdown Indicators
| BAR | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.53% | -86.32% | +64.79% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -41.53% | +22.34% |
Max Drawdown (5Y)Largest decline over 5 years | -20.91% | -61.54% | +40.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.49% | — |
Current DrawdownCurrent decline from peak | -13.22% | -84.42% | +71.20% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -57.48% | +51.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 21.88% | -16.69% |
Volatility
BAR vs. DGZ - Volatility Comparison
The current volatility for GraniteShares Gold Trust (BAR) is 11.01%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 16.64%. This indicates that BAR experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.01% | 16.64% | -5.63% |
Volatility (6M)Calculated over the trailing 6-month period | 24.13% | 43.96% | -19.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.63% | 48.50% | -20.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 28.23% | -10.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 23.03% | -6.73% |