BAR vs. XAUUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about GraniteShares Gold Trust (BAR) and Gold Spot Price US Dollar (XAUUSD=X).

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.

Performance

BAR vs. XAUUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Gold Trust (BAR) and Gold Spot Price US Dollar (XAUUSD=X). The values are adjusted to include any dividend payments, if applicable.

BAR vs. XAUUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAR GraniteShares Gold Trust	8.33%	64.12%	26.97%	12.96%	-0.55%	-3.92%	25.02%	18.16%	-1.87%	-1.15%
XAUUSD=X Gold Spot Price US Dollar	8.19%	64.75%	27.24%	13.14%	-0.25%	-3.50%	24.55%	18.77%	-1.71%	-1.37%

Returns By Period

The year-to-date returns for both stocks are quite close, with BAR having a 8.33% return and XAUUSD=X slightly lower at 8.19%.

BAR

• 1D: -1.92%
• 1M: -8.31%
• YTD: 8.33%
• 6M: 21.13%
• 1Y: 49.30%
• 3Y*: 32.80%
• 5Y*: 21.79%
• 10Y*: —

XAUUSD=X

• 1D: -1.71%
• 1M: -8.10%
• YTD: 8.19%
• 6M: 21.27%
• 1Y: 49.22%
• 3Y*: 33.08%
• 5Y*: 21.93%
• 10Y*: 14.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BAR vs. XAUUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAR

BAR Risk / Return Rank: 80
BAR Sharpe Ratio Rank: 85
BAR Sortino Ratio Rank: 81
BAR Omega Ratio Rank: 80
BAR Calmar Ratio Rank: 80
BAR Martin Ratio Rank: 77

XAUUSD=X

XAUUSD=X Risk / Return Rank: 89
XAUUSD=X Sharpe Ratio Rank: 93
XAUUSD=X Sortino Ratio Rank: 91
XAUUSD=X Omega Ratio Rank: 91
XAUUSD=X Calmar Ratio Rank: 84
XAUUSD=X Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAR vs. XAUUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and Gold Spot Price US Dollar (XAUUSD=X). 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	XAUUSD=X	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.61	+0.18
Sortino ratio Return per unit of downside risk	2.22	2.08	+0.14
Omega ratio Gain probability vs. loss probability	1.33	1.31	+0.02
Calmar ratio Return relative to maximum drawdown	2.58	1.93	+0.65
Martin ratio Return relative to average drawdown	9.34	6.72	+2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAR vs. XAUUSD=X - Sharpe Ratio Comparison

The current BAR Sharpe Ratio is 1.79, which is comparable to the XAUUSD=X Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of BAR and XAUUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BAR	XAUUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.61	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.24	1.20	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.59	+0.37

Correlation

The correlation between BAR and XAUUSD=X is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

BAR vs. XAUUSD=X - Drawdown Comparison

The maximum BAR drawdown since its inception was -21.53%, smaller than the maximum XAUUSD=X drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for BAR and XAUUSD=X.

Drawdown Indicators

	BAR	XAUUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-21.53%	-44.69%	+23.16%
Max Drawdown (1Y) Largest decline over 1 year	-19.19%	-19.70%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-20.91%	-20.81%	-0.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.35%	—
Current Drawdown Current decline from peak	-13.41%	-13.69%	+0.28%
Average Drawdown Average peak-to-trough decline	-6.30%	-16.32%	+10.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	5.67%	-0.36%

Volatility

BAR vs. XAUUSD=X - Volatility Comparison

GraniteShares Gold Trust (BAR) has a higher volatility of 10.50% compared to Gold Spot Price US Dollar (XAUUSD=X) at 9.69%. This indicates that BAR's price experiences larger fluctuations and is considered to be riskier than XAUUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAR	XAUUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.50%	9.69%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	24.26%	21.25%	+3.01%
Volatility (1Y) Calculated over the trailing 1-year period	27.72%	23.73%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	16.36%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.32%	15.04%	+1.28%