GINN vs. AAAU
GINN (Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - GINN is a Technology Equities fund tracking the Solactive Innovative Global Equity Index, while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, GINN returned 7.01%/yr vs 18.60%/yr for AAAU. At a 0.16 correlation, their price movements are largely independent. GINN charges 0.50%/yr vs 0.18%/yr for AAAU.
Performance
GINN vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, GINN achieves a 9.62% return, which is significantly higher than AAAU's 3.83% return.
GINN
- 1D
- 0.91%
- 1M
- 5.65%
- YTD
- 9.62%
- 6M
- 8.49%
- 1Y
- 25.98%
- 3Y*
- 20.41%
- 5Y*
- 7.01%
- 10Y*
- —
AAAU
- 1D
- 0.87%
- 1M
- -1.63%
- YTD
- 3.83%
- 6M
- 6.34%
- 1Y
- 32.55%
- 3Y*
- 31.47%
- 5Y*
- 18.60%
- 10Y*
- —
GINN vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF | 9.62% | 20.25% | 18.71% | 29.94% | -32.40% | 10.39% | 9.84% |
AAAU Goldman Sachs Physical Gold ETF | 3.83% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 1.88% |
Correlation
The correlation between GINN and AAAU is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2020 | 0.16 |
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Return for Risk
GINN vs. AAAU — Risk / Return Rank
GINN
AAAU
GINN vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF (GINN) 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.
| GINN | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.71 | +0.27 |
| Martin ratioReturn relative to average drawdown | 7.15 | 4.21 | +2.94 |
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
| GINN | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 1.24 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 1.05 | -0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.09 | -0.63 |
Drawdowns
GINN vs. AAAU - Drawdown Comparison
The maximum GINN drawdown since its inception was -41.25%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for GINN and AAAU.
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Drawdown Indicators
| GINN | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.25% | -21.63% | -19.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.18% | -19.13% | +5.95% |
Max Drawdown (3Y)Largest decline over 3 years | -22.25% | -19.13% | -3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -41.25% | -20.94% | -20.31% |
Current DrawdownCurrent decline from peak | -0.74% | -16.97% | +16.23% |
Average DrawdownAverage peak-to-trough decline | -13.36% | -6.19% | -7.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 7.76% | -4.12% |
Volatility
GINN vs. AAAU - Volatility Comparison
The current volatility for Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF (GINN) is 4.01%, while Goldman Sachs Physical Gold ETF (AAAU) has a volatility of 5.51%. This indicates that GINN 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
| GINN | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 5.51% | -1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.07% | 22.94% | -10.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.06% | 26.33% | -10.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 17.83% | +3.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.04% | 16.99% | +4.05% |
GINN vs. AAAU - Expense Ratio Comparison
GINN has a 0.50% expense ratio, which is higher than AAAU's 0.18% expense ratio.
Dividends
GINN vs. AAAU - Dividend Comparison
GINN's dividend yield for the trailing twelve months is around 1.15%, while AAAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF | 1.15% | 1.26% | 1.26% | 1.01% | 0.69% | 0.67% | 0.07% |
Frequently Asked Questions
GINN and AAAU have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAAU has higher volatility (5.51%) compared to GINN (4.01%). In terms of maximum drawdown, GINN dropped -41.25% vs AAAU's -21.63%.
On 5-year performance, AAAU leads with 18.60% vs 7.01% for GINN. On fees, AAAU is cheaper at 0.18% per year. On volatility, GINN has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AAAU has performed better with a 18.60% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAAU is cheaper with a 0.18% expense ratio, compared with 0.50% for GINN.
GINN has the higher dividend yield at 1.15%, compared with 0.00% for AAAU.
GINN is categorized as Technology Equities, while AAAU is Gold. GINN tracks Solactive Innovative Global Equity Index, while AAAU tracks LBMA Gold PM Price. Their fees differ too: 0.50% for GINN and 0.18% for AAAU.
GINN currently has the higher Sharpe Ratio (1.63 vs 1.24), 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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