BAR vs. VAW
BAR (GraniteShares Gold Trust) and VAW (Vanguard Materials ETF) are both exchange-traded funds - BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while VAW is a Materials fund tracking the MSCI US Investable Market Materials 25/50 Index. Both are passively managed. Over the past 5 years, BAR returned 18.08%/yr vs 6.68%/yr for VAW. At a 0.18 correlation, their price movements are largely independent. BAR charges 0.17%/yr vs 0.09%/yr for VAW.
Performance
BAR vs. VAW - Performance Comparison
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Returns By Period
In the year-to-date period, BAR achieves a -4.82% return, which is significantly lower than VAW's 11.07% return.
BAR
- 1D
- -1.94%
- 1M
- -8.92%
- YTD
- -4.82%
- 6M
- -8.73%
- 1Y
- 21.40%
- 3Y*
- 28.63%
- 5Y*
- 18.08%
- 10Y*
- —
VAW
- 1D
- -1.83%
- 1M
- 0.83%
- YTD
- 11.07%
- 6M
- 9.68%
- 1Y
- 20.68%
- 3Y*
- 11.22%
- 5Y*
- 6.68%
- 10Y*
- 10.46%
BAR vs. VAW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | -4.82% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -0.79% |
VAW Vanguard Materials ETF | 11.07% | 12.30% | 0.48% | 13.67% | -11.80% | 27.43% | 19.44% | 23.53% | -17.49% | 11.98% |
Correlation
The correlation between BAR and VAW is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2017 | 0.18 |
Over the past year, BAR and VAW have become more correlated (0.47) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
BAR vs. VAW — Risk / Return Rank
BAR
VAW
BAR vs. VAW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and Vanguard Materials ETF (VAW). 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.
| BAR | VAW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.20 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.55 | -0.67 |
| Martin ratioReturn relative to average drawdown | 2.37 | 4.90 | -2.53 |
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Drawdowns
BAR vs. VAW - Drawdown Comparison
The maximum BAR drawdown since its inception was -24.38%, smaller than the maximum VAW drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for BAR and VAW.
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Drawdown Indicators
| BAR | VAW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.38% | -62.17% | +37.79% |
Max Drawdown (1Y)Largest decline over 1 year | -24.38% | -13.42% | -10.96% |
Max Drawdown (3Y)Largest decline over 3 years | -24.38% | -23.21% | -1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -24.38% | -25.50% | +1.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.13% | — |
Current DrawdownCurrent decline from peak | -23.93% | -5.58% | -18.35% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -9.62% | +3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.07% | 4.23% | +4.84% |
Volatility
BAR vs. VAW - Volatility Comparison
GraniteShares Gold Trust (BAR) has a higher volatility of 8.11% compared to Vanguard Materials ETF (VAW) at 6.78%. This indicates that BAR's price experiences larger fluctuations and is considered to be riskier than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | VAW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.11% | 6.78% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 24.24% | 14.86% | +9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.39% | 18.50% | +8.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.14% | 19.72% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 21.23% | -4.69% |
BAR vs. VAW - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is higher than VAW's 0.09% 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
BAR vs. VAW - Dividend Comparison
BAR has not paid dividends to shareholders, while VAW's dividend yield for the trailing twelve months is around 1.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAW Vanguard Materials ETF | 1.39% | 1.55% | 1.70% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% |
Frequently Asked Questions
BAR and VAW have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAR has higher volatility (8.11%) compared to VAW (6.78%). In terms of maximum drawdown, BAR dropped -24.38% vs VAW's -62.17%.
On 5-year performance, BAR leads with 18.08% vs 6.68% for VAW. On fees, VAW is cheaper at 0.09% per year. On volatility, VAW has been the lower-risk option at 6.78%. 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 18.08% return vs 6.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VAW is cheaper with a 0.09% expense ratio, compared with 0.17% for BAR.
VAW has the higher dividend yield at 1.39%, compared with 0.00% for BAR.
BAR is categorized as Gold, while VAW is Materials. BAR tracks LBMA Gold Price PM ($/ozt), while VAW tracks MSCI US Investable Market Materials 25/50 Index. They also come from different issuers: GraniteShares and Vanguard. Their fees differ too: 0.17% for BAR and 0.09% for VAW.
VAW currently has the higher Sharpe Ratio (1.13 vs 0.78), 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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