GCCIX vs. AAAU
Compare and contrast key facts about Goldman Sachs Commodity Strategy Fund (GCCIX) and Goldman Sachs Physical Gold ETF (AAAU).
GCCIX is managed by Goldman Sachs. It was launched on Mar 29, 2007. AAAU is a passively managed fund by Goldman Sachs that tracks the performance of the LBMA Gold PM Price. It was launched on Jul 26, 2018.
Performance
GCCIX vs. AAAU - Performance Comparison
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GCCIX vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GCCIX Goldman Sachs Commodity Strategy Fund | 14.11% | 15.45% | 5.92% | -9.65% | 15.70% | 33.42% | -23.01% | 16.75% | -16.00% |
AAAU Goldman Sachs Physical Gold ETF | 10.48% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 9.20% |
Returns By Period
In the year-to-date period, GCCIX achieves a 14.11% return, which is significantly higher than AAAU's 10.48% return.
GCCIX
- 1D
- -0.63%
- 1M
- 4.19%
- YTD
- 14.11%
- 6M
- 19.69%
- 1Y
- 20.48%
- 3Y*
- 10.67%
- 5Y*
- 11.93%
- 10Y*
- 6.16%
AAAU
- 1D
- 1.78%
- 1M
- -10.64%
- YTD
- 10.48%
- 6M
- 23.10%
- 1Y
- 52.53%
- 3Y*
- 33.97%
- 5Y*
- 22.27%
- 10Y*
- —
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GCCIX vs. AAAU - Expense Ratio Comparison
GCCIX has a 0.59% expense ratio, which is higher than AAAU's 0.18% expense ratio.
Return for Risk
GCCIX vs. AAAU — Risk / Return Rank
GCCIX
AAAU
GCCIX vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Commodity Strategy Fund (GCCIX) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| GCCIX | AAAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 1.92 | -0.55 |
Sortino ratioReturn per unit of downside risk | 1.81 | 2.35 | -0.55 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.35 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.73 | -0.44 |
Martin ratioReturn relative to average drawdown | 6.38 | 10.02 | -3.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GCCIX | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.92 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 1.27 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 1.18 | -1.35 |
Correlation
The correlation between GCCIX and AAAU is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GCCIX vs. AAAU - Dividend Comparison
GCCIX's dividend yield for the trailing twelve months is around 14.10%, while AAAU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GCCIX Goldman Sachs Commodity Strategy Fund | 14.10% | 16.09% | 4.08% | 4.20% | 10.41% | 16.46% | 0.36% | 10.81% | 1.47% | 5.88% | 0.84% | 0.36% |
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GCCIX vs. AAAU - Drawdown Comparison
The maximum GCCIX drawdown since its inception was -90.80%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for GCCIX and AAAU.
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Drawdown Indicators
| GCCIX | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.80% | -21.63% | -69.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -19.13% | +9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -28.78% | -20.94% | -7.84% |
Max Drawdown (10Y)Largest decline over 10 years | -57.76% | — | — |
Current DrawdownCurrent decline from peak | -71.72% | -11.65% | -60.07% |
Average DrawdownAverage peak-to-trough decline | -69.41% | -6.01% | -63.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 5.21% | -1.83% |
Volatility
GCCIX vs. AAAU - Volatility Comparison
The current volatility for Goldman Sachs Commodity Strategy Fund (GCCIX) is 5.48%, while Goldman Sachs Physical Gold ETF (AAAU) has a volatility of 10.43%. This indicates that GCCIX experiences smaller price fluctuations and is considered to be less risky than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCCIX | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.48% | 10.43% | -4.95% |
Volatility (6M)Calculated over the trailing 6-month period | 11.71% | 24.06% | -12.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 27.50% | -12.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.45% | 17.58% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.13% | 16.92% | +3.21% |