FGDL vs. VUSXX

Last updated Jun 14, 2026

FGDL (Franklin Responsibly Sourced Gold ETF) and VUSXX (Vanguard Treasury Money Market Fund) are both funds - FGDL is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt), while VUSXX is a Money Market fund actively managed by Vanguard. FGDL is passively managed, while VUSXX is actively managed. Over the past 3 years, FGDL returned 29.18%/yr vs 2.61%/yr for VUSXX. At a 0.02 correlation, their price movements are largely independent. FGDL charges 0.15%/yr vs 0.07%/yr for VUSXX.

Performance

FGDL vs. VUSXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Responsibly Sourced Gold ETF (FGDL) and Vanguard Treasury Money Market Fund (VUSXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGDL achieves a -2.81% return, which is significantly lower than VUSXX's 1.51% return.

FGDL

• 1D: -0.20%
• 1M: -9.80%
• YTD: -2.81%
• 6M: -2.54%
• 1Y: 22.12%
• 3Y*: 29.18%
• 5Y*: —
• 10Y*: —

VUSXX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.51%
• 6M: 1.84%
• 1Y: 3.98%
• 3Y*: 2.61%
• 5Y*: 1.56%
• 10Y*: —

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

FGDL vs. VUSXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FGDL Franklin Responsibly Sourced Gold ETF	-2.81%	64.15%	27.31%	12.92%	0.72%
VUSXX Vanguard Treasury Money Market Fund	1.51%	4.25%	1.65%	0.43%	0.00%

Correlation

The correlation between FGDL and VUSXX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022	0.02

Return for Risk

FGDL vs. VUSXX — Risk / Return Rank

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

FGDL

FGDL Risk / Return Rank: 26
FGDL Sharpe Ratio Rank: 28
FGDL Sortino Ratio Rank: 25
FGDL Omega Ratio Rank: 30
FGDL Calmar Ratio Rank: 24
FGDL Martin Ratio Rank: 24

VUSXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FGDL vs. VUSXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and Vanguard Treasury Money Market Fund (VUSXX). 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.

	FGDL	VUSXX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	3.68	-2.80
Sortino ratio: Return per unit of downside risk	1.23	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.97	—	—
Martin ratio: Return relative to average drawdown	2.78	—	—

FGDL vs. VUSXX - Sharpe Ratio Comparison

The current FGDL Sharpe Ratio is 0.87, which is lower than the VUSXX Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of FGDL and VUSXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FGDL vs. VUSXX - Drawdown Comparison

The maximum FGDL drawdown since its inception was -24.73%, which is greater than VUSXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FGDL and VUSXX.

Drawdown Indicators

	FGDL	VUSXX	Difference
Max Drawdown Largest peak-to-trough decline	-24.73%	0.00%	-24.73%
Max Drawdown (1Y) Largest decline over 1 year	-24.73%	0.00%	-24.73%
Max Drawdown (3Y) Largest decline over 3 years	-24.73%	0.00%	-24.73%
Max Drawdown (5Y) Largest decline over 5 years	—	0.00%	—
Current Drawdown Current decline from peak	-22.35%	0.00%	-22.35%
Average Drawdown Average peak-to-trough decline	-3.97%	0.00%	-3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.64%	0.00%	+8.64%

Volatility

FGDL vs. VUSXX - Volatility Comparison

Franklin Responsibly Sourced Gold ETF (FGDL) has a higher volatility of 8.01% compared to Vanguard Treasury Money Market Fund (VUSXX) at 0.31%. This indicates that FGDL's price experiences larger fluctuations and is considered to be riskier than VUSXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGDL	VUSXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	0.31%	+7.70%
Volatility (6M) Calculated over the trailing 6-month period	24.16%	0.79%	+23.37%
Volatility (1Y) Calculated over the trailing 1-year period	27.60%	1.12%	+26.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	0.75%	+18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	0.74%	+18.53%

FGDL vs. VUSXX - Expense Ratio Comparison

FGDL has a 0.15% expense ratio, which is higher than VUSXX's 0.07% 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

FGDL vs. VUSXX - Dividend Comparison

FGDL has not paid dividends to shareholders, while VUSXX's dividend yield for the trailing twelve months is around 3.89%.

Position	TTM	2025	2024	2023
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%	0.00%	0.00%
VUSXX Vanguard Treasury Money Market Fund	3.89%	4.15%	1.63%	0.43%

Frequently Asked Questions

Can I hold both FGDL and VUSXX in my portfolio?

FGDL and VUSXX 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.

Which is riskier, FGDL or VUSXX?

FGDL has higher volatility (8.01%) compared to VUSXX (0.31%). In terms of maximum drawdown, FGDL dropped -24.73% vs VUSXX's 0.00%.

Which has better risk-adjusted returns?

VUSXX currently has the higher Sharpe Ratio (3.68 vs 0.87), 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.