BTGD vs. OUNZ

Last updated Jun 9, 2026

BTGD (STKD Bitcoin & Gold ETF) and OUNZ (VanEck Merk Gold Trust) are both exchange-traded funds - BTGD is a Cryptocurrency fund actively managed by Quantify Funds, while OUNZ is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt). BTGD is actively managed, while OUNZ is passively managed. Over the past year, BTGD returned -31.91% vs 30.33% for OUNZ. A 0.50 correlation means they provide meaningful diversification when combined. BTGD charges 1.00%/yr vs 0.25%/yr for OUNZ.

Performance

BTGD vs. OUNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in STKD Bitcoin & Gold ETF (BTGD) and VanEck Merk Gold Trust (OUNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTGD achieves a -32.80% return, which is significantly lower than OUNZ's 0.29% return.

BTGD

• 1D: 5.44%
• 1M: -28.40%
• YTD: -32.80%
• 6M: -33.78%
• 1Y: -31.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OUNZ

• 1D: 0.22%
• 1M: -8.43%
• YTD: 0.29%
• 6M: 3.12%
• 1Y: 30.33%
• 3Y*: 29.90%
• 5Y*: 17.72%
• 10Y*: 12.64%

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

BTGD vs. OUNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTGD STKD Bitcoin & Gold ETF	-32.80%	34.62%	29.81%
OUNZ VanEck Merk Gold Trust	0.29%	63.95%	-2.05%

Correlation

The correlation between BTGD and OUNZ is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.50

The correlation between BTGD and OUNZ has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.

Return for Risk

BTGD vs. OUNZ — Risk / Return Rank

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

BTGD

BTGD Risk / Return Rank: 4
BTGD Sharpe Ratio Rank: 5
BTGD Sortino Ratio Rank: 5
BTGD Omega Ratio Rank: 5
BTGD Calmar Ratio Rank: 4
BTGD Martin Ratio Rank: 3

OUNZ

OUNZ Risk / Return Rank: 34
OUNZ Sharpe Ratio Rank: 35
OUNZ Sortino Ratio Rank: 31
OUNZ Omega Ratio Rank: 39
OUNZ Calmar Ratio Rank: 34
OUNZ Martin Ratio Rank: 29

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.

BTGD vs. OUNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for STKD Bitcoin & Gold ETF (BTGD) and VanEck Merk Gold Trust (OUNZ). 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.

	BTGD	OUNZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	1.14	-1.72
Sortino ratio: Return per unit of downside risk	-0.55	1.53	-2.08
Omega ratio: Gain probability vs. loss probability	0.93	1.23	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.60	1.52	-2.12
Martin ratio: Return relative to average drawdown	-1.29	3.82	-5.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTGD vs. OUNZ - Sharpe Ratio Comparison

The current BTGD Sharpe Ratio is -0.57, which is lower than the OUNZ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of BTGD and OUNZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTGD	OUNZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.57	1.14	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.64	-0.46

Drawdowns

BTGD vs. OUNZ - Drawdown Comparison

The maximum BTGD drawdown since its inception was -53.31%, which is greater than OUNZ's maximum drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for BTGD and OUNZ.

Drawdown Indicators

	BTGD	OUNZ	Difference
Max Drawdown Largest peak-to-trough decline	-53.31%	-21.77%	-31.54%
Max Drawdown (1Y) Largest decline over 1 year	-53.31%	-20.00%	-33.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.76%	—
Current Drawdown Current decline from peak	-50.77%	-19.83%	-30.94%
Average Drawdown Average peak-to-trough decline	-14.85%	-7.58%	-7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.72%	7.96%	+16.76%

Volatility

BTGD vs. OUNZ - Volatility Comparison

STKD Bitcoin & Gold ETF (BTGD) has a higher volatility of 14.85% compared to VanEck Merk Gold Trust (OUNZ) at 5.67%. This indicates that BTGD's price experiences larger fluctuations and is considered to be riskier than OUNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTGD	OUNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.85%	5.67%	+9.18%
Volatility (6M) Calculated over the trailing 6-month period	46.45%	23.29%	+23.16%
Volatility (1Y) Calculated over the trailing 1-year period	56.04%	26.66%	+29.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.94%	17.99%	+37.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.94%	16.00%	+39.94%

BTGD vs. OUNZ - Expense Ratio Comparison

BTGD has a 1.00% expense ratio, which is higher than OUNZ's 0.25% expense ratio.

Dividends

BTGD vs. OUNZ - Dividend Comparison

BTGD's dividend yield for the trailing twelve months is around 5.00%, while OUNZ has not paid dividends to shareholders.

Position	TTM	2025	2024
BTGD STKD Bitcoin & Gold ETF	5.00%	3.36%	0.19%
OUNZ VanEck Merk Gold Trust	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTGD and OUNZ in my portfolio?

BTGD and OUNZ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTGD or OUNZ?

BTGD has higher volatility (14.85%) compared to OUNZ (5.67%). In terms of maximum drawdown, BTGD dropped -53.31% vs OUNZ's -21.77%.

Which ETF is better, BTGD or OUNZ?

On 1-year performance, OUNZ leads with 30.33% vs -31.91% for BTGD. On fees, OUNZ is cheaper at 0.25% per year. On volatility, OUNZ has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTGD or OUNZ?

Over the 1-year period, OUNZ has performed better with a 30.33% return vs -31.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTGD or OUNZ?

OUNZ is cheaper with a 0.25% expense ratio, compared with 1.00% for BTGD.

Which ETF pays a higher dividend yield, BTGD or OUNZ?

BTGD has the higher dividend yield at 5.00%, compared with 0.00% for OUNZ.

What is the main difference between BTGD and OUNZ?

BTGD is categorized as Cryptocurrency, while OUNZ is Precious Metals. They also come from different issuers: Quantify Funds and Merk. Their fees differ too: 1.00% for BTGD and 0.25% for OUNZ.

Which has better risk-adjusted returns?

OUNZ currently has the higher Sharpe Ratio (1.14 vs -0.57), 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.