BAR vs. MARB
BAR (GraniteShares Gold Trust) and MARB (First Trust Merger Arbitrage ETF) are both exchange-traded funds - BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while MARB is a Long-Short fund actively managed by First Trust. BAR is passively managed, while MARB is actively managed. Over the past 5 years, BAR returned 18.41%/yr vs 2.64%/yr for MARB. At a 0.03 correlation, their price movements are largely independent. BAR charges 0.17%/yr vs 2.30%/yr for MARB.
Performance
BAR vs. MARB - Performance Comparison
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Returns By Period
In the year-to-date period, BAR achieves a 2.94% return, which is significantly higher than MARB's 1.26% return.
BAR
- 1D
- -1.02%
- 1M
- -1.62%
- YTD
- 2.94%
- 6M
- 5.50%
- 1Y
- 32.26%
- 3Y*
- 31.38%
- 5Y*
- 18.41%
- 10Y*
- —
MARB
- 1D
- 0.05%
- 1M
- 0.22%
- YTD
- 1.26%
- 6M
- 1.42%
- 1Y
- 6.18%
- 3Y*
- 4.29%
- 5Y*
- 2.64%
- 10Y*
- —
BAR vs. MARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 2.94% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 21.64% |
MARB First Trust Merger Arbitrage ETF | 1.26% | 7.02% | 0.73% | 2.16% | 3.89% | 0.26% | -2.35% |
Correlation
The correlation between BAR and MARB is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2020 | 0.03 |
The correlation between BAR and MARB shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BAR vs. MARB — Risk / Return Rank
BAR
MARB
BAR vs. MARB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and First Trust Merger Arbitrage ETF (MARB). 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 | MARB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 2.56 | -0.87 |
| Martin ratioReturn relative to average drawdown | 4.19 | 20.98 | -16.79 |
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 | MARB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.17 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.62 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.36 | +0.54 |
Drawdowns
BAR vs. MARB - Drawdown Comparison
The maximum BAR drawdown since its inception was -21.53%, which is greater than MARB's maximum drawdown of -11.99%. Use the drawdown chart below to compare losses from any high point for BAR and MARB.
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Drawdown Indicators
| BAR | MARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.53% | -11.99% | -9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -2.43% | -16.76% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -3.67% | -15.52% |
Max Drawdown (5Y)Largest decline over 5 years | -20.91% | -3.67% | -17.24% |
Current DrawdownCurrent decline from peak | -17.72% | -0.00% | -17.72% |
Average DrawdownAverage peak-to-trough decline | -6.45% | -1.40% | -5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.72% | 0.30% | +7.42% |
Volatility
BAR vs. MARB - Volatility Comparison
GraniteShares Gold Trust (BAR) has a higher volatility of 5.46% compared to First Trust Merger Arbitrage ETF (MARB) at 0.47%. This indicates that BAR's price experiences larger fluctuations and is considered to be riskier than MARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | MARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 0.47% | +4.99% |
Volatility (6M)Calculated over the trailing 6-month period | 23.03% | 2.18% | +20.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.43% | 5.31% | +21.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.90% | 4.27% | +13.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 5.60% | +10.78% |
BAR vs. MARB - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is lower than MARB's 2.30% expense ratio.
Dividends
BAR vs. MARB - Dividend Comparison
BAR has not paid dividends to shareholders, while MARB's dividend yield for the trailing twelve months is around 2.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MARB First Trust Merger Arbitrage ETF | 2.98% | 3.01% | 2.11% | 2.20% | 0.99% |
Frequently Asked Questions
BAR and MARB have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAR has higher volatility (5.46%) compared to MARB (0.47%). In terms of maximum drawdown, BAR dropped -21.53% vs MARB's -11.99%.
On 5-year performance, BAR leads with 18.41% vs 2.64% for MARB. On fees, BAR is cheaper at 0.17% per year. On volatility, MARB has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 18.41% return vs 2.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 2.30% for MARB.
MARB has the higher dividend yield at 2.98%, compared with 0.00% for BAR.
BAR is categorized as Gold, while MARB is Long-Short. They also come from different issuers: GraniteShares and First Trust. Their fees differ too: 0.17% for BAR and 2.30% for MARB.
BAR currently has the higher Sharpe Ratio (1.23 vs 1.17), 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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