GC=F vs. XAUUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about Gold (GC=F) and Gold Spot Price US Dollar (XAUUSD=X).

Performance

GC=F vs. XAUUSD=X - Performance Comparison

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

GC=F vs. XAUUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GC=F Gold	8.72%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%
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%	13.14%

Returns By Period

In the year-to-date period, GC=F achieves a 8.72% return, which is significantly higher than XAUUSD=X's 8.19% return. Both investments have delivered pretty close results over the past 10 years, with GC=F having a 14.46% annualized return and XAUUSD=X not far behind at 14.43%.

GC=F

• 1D: -1.68%
• 1M: -7.92%
• YTD: 8.72%
• 6M: 22.48%
• 1Y: 49.77%
• 3Y*: 33.33%
• 5Y*: 22.19%
• 10Y*: 14.46%

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

GC=F vs. XAUUSD=X — Risk / Return Rank

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

GC=F

GC=F Risk / Return Rank: 82
GC=F Sharpe Ratio Rank: 83
GC=F Sortino Ratio Rank: 89
GC=F Omega Ratio Rank: 77
GC=F Calmar Ratio Rank: 69
GC=F Martin Ratio Rank: 90

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.

GC=F vs. XAUUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold (GC=F) 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.

	GC=F	XAUUSD=X	Difference
Sharpe ratio Return per unit of total volatility	1.72	1.61	+0.11
Sortino ratio Return per unit of downside risk	2.13	2.08	+0.06
Omega ratio Gain probability vs. loss probability	1.32	1.31	+0.02
Calmar ratio Return relative to maximum drawdown	2.64	1.93	+0.70
Martin ratio Return relative to average drawdown	9.67	6.72	+2.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GC=F vs. XAUUSD=X - Sharpe Ratio Comparison

The current GC=F Sharpe Ratio is 1.72, which is comparable to the XAUUSD=X Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of GC=F 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

	GC=F	XAUUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.61	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	1.20	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.90	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.59	+0.04

Correlation

The correlation between GC=F and XAUUSD=X is 0.82, 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

GC=F vs. XAUUSD=X - Drawdown Comparison

The maximum GC=F drawdown since its inception was -44.36%, roughly equal to the maximum XAUUSD=X drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for GC=F and XAUUSD=X.

Drawdown Indicators

	GC=F	XAUUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-44.36%	-44.69%	+0.33%
Max Drawdown (1Y) Largest decline over 1 year	-17.73%	-19.70%	+1.97%
Max Drawdown (5Y) Largest decline over 5 years	-20.43%	-20.81%	+0.38%
Max Drawdown (10Y) Largest decline over 10 years	-20.87%	-21.35%	+0.48%
Current Drawdown Current decline from peak	-11.58%	-13.69%	+2.11%
Average Drawdown Average peak-to-trough decline	-13.03%	-16.32%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.83%	5.67%	-0.84%

Volatility

GC=F vs. XAUUSD=X - Volatility Comparison

Gold (GC=F) has a higher volatility of 11.34% compared to Gold Spot Price US Dollar (XAUUSD=X) at 9.69%. This indicates that GC=F'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

	GC=F	XAUUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.34%	9.69%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	24.65%	21.25%	+3.40%
Volatility (1Y) Calculated over the trailing 1-year period	27.83%	23.73%	+4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.97%	16.36%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	15.04%	+1.33%