DFIV vs. OUNZ
DFIV (Dimensional International Value ETF) and OUNZ (VanEck Merk Gold ETF) are both exchange-traded funds - DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional, while OUNZ is a Gold fund tracking the LBMA Gold Price PM ($/ozt). DFIV is actively managed, while OUNZ is passively managed. Over the past 3 years, DFIV returned 22.23%/yr vs 27.36%/yr for OUNZ. At a 0.32 correlation, their price movements are largely independent. DFIV charges 0.27%/yr vs 0.25%/yr for OUNZ.
Performance
DFIV vs. OUNZ - Performance Comparison
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Returns By Period
In the year-to-date period, DFIV achieves a 14.01% return, which is significantly higher than OUNZ's -5.33% return.
DFIV
- 1D
- 1.19%
- 1M
- 2.64%
- 6M
- 11.75%
- YTD
- 14.01%
- 1Y
- 33.73%
- 3Y*
- 22.23%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.66%
OUNZ
- 1D
- 1.97%
- 1M
- -3.16%
- 6M
- -14.22%
- YTD
- -5.33%
- 1Y
- 19.91%
- 3Y*
- 27.36%
- 5Y*
- 17.44%
- 10Y*
- 11.59%
- ALL TIME*
- 9.56%
DFIV vs. OUNZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DFIV Dimensional International Value ETF | 14.01% | 45.36% | 7.26% | 17.75% | -3.70% | 0.50% |
OUNZ VanEck Merk Gold ETF | -5.33% | 63.95% | 26.75% | 12.83% | -0.51% | 2.18% |
Correlation
The correlation between DFIV and OUNZ is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021 | 0.32 |
The correlation between DFIV and OUNZ shifts across timeframes, from 0.32 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DFIV vs. OUNZ — Risk / Return Rank
DFIV
OUNZ
DFIV vs. OUNZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional International Value ETF (DFIV) and VanEck Merk Gold ETF (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.
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.
| DFIV | OUNZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.15 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 0.76 | +2.75 |
| Martin ratioReturn relative to average drawdown | 13.33 | 1.76 | +11.56 |
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Drawdowns
DFIV vs. OUNZ - Drawdown Comparison
The maximum DFIV drawdown since its inception was -25.42%, roughly equal to the maximum OUNZ drawdown of -26.31%. Use the drawdown chart below to compare losses from any high point for DFIV and OUNZ.
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Drawdown Indicators
| DFIV | OUNZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -26.31% | +0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.66% | -26.31% | +16.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.72% | -26.31% | +11.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.31% | — |
Current DrawdownCurrent decline from peak | -0.34% | -24.32% | +23.98% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -7.73% | +3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 11.33% | -8.79% |
Volatility
DFIV vs. OUNZ - Volatility Comparison
The current volatility for Dimensional International Value ETF (DFIV) is 3.43%, while VanEck Merk Gold ETF (OUNZ) has a volatility of 6.78%. This indicates that DFIV experiences smaller price fluctuations and is considered to be less risky than OUNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFIV | OUNZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 6.78% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 24.08% | -12.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.11% | 27.86% | -13.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.56% | 18.35% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 16.13% | +0.43% |
DFIV vs. OUNZ - Expense Ratio Comparison
DFIV has a 0.27% expense ratio, which is higher than OUNZ's 0.25% 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
DFIV vs. OUNZ - Dividend Comparison
DFIV's dividend yield for the trailing twelve months is around 2.64%, while OUNZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFIV Dimensional International Value ETF | 2.64% | 2.92% | 3.88% | 3.93% | 3.84% | 2.30% |
OUNZ VanEck Merk Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFIV and OUNZ have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OUNZ has higher volatility (6.78%) compared to DFIV (3.43%). In terms of maximum drawdown, DFIV dropped -25.42% vs OUNZ's -26.31%.
On 3-year performance, OUNZ leads with 27.36% vs 22.23% for DFIV. On fees, OUNZ is cheaper at 0.25% per year. On volatility, DFIV has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OUNZ has performed better with a 27.36% return vs 22.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OUNZ is cheaper with a 0.25% expense ratio, compared with 0.27% for DFIV.
DFIV has the higher dividend yield at 2.64%, compared with 0.00% for OUNZ.
DFIV is categorized as Foreign Large Cap Equities, while OUNZ is Gold. They also come from different issuers: Dimensional and VanEck. Their fees differ too: 0.27% for DFIV and 0.25% for OUNZ.
DFIV currently has the higher Sharpe Ratio (2.40 vs 0.72), 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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