GOAU vs. AAAU

Last updated Apr 3, 2026

Compare and contrast key facts about US Global GO GOLD and Precious Metal Miners ETF (GOAU) and Goldman Sachs Physical Gold ETF (AAAU).

GOAU and AAAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOAU is a passively managed fund by US Global that tracks the performance of the U.S. Global GO GOLD and Precious Metal Miners Index. It was launched on Jun 27, 2017. 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. Both GOAU and AAAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GOAU vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Global GO GOLD and Precious Metal Miners ETF (GOAU) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

GOAU vs. AAAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GOAU US Global GO GOLD and Precious Metal Miners ETF	7.73%	126.68%	13.78%	10.67%	-11.66%	-9.23%	14.13%	54.17%	7.65%
AAAU Goldman Sachs Physical Gold ETF	8.32%	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, GOAU achieves a 7.73% return, which is significantly lower than AAAU's 8.32% return.

GOAU

• 1D: -1.23%
• 1M: -10.41%
• YTD: 7.73%
• 6M: 14.12%
• 1Y: 85.09%
• 3Y*: 37.34%
• 5Y*: 20.63%
• 10Y*: —

AAAU

• 1D: -1.96%
• 1M: -8.32%
• YTD: 8.32%
• 6M: 21.13%
• 1Y: 49.28%
• 3Y*: 32.78%
• 5Y*: 21.79%
• 10Y*: —

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

GOAU vs. AAAU - Expense Ratio Comparison

GOAU has a 0.60% expense ratio, which is higher than AAAU's 0.18% expense ratio.

GOAU

US Global GO GOLD and Precious Metal Miners ETF

AAAU

Goldman Sachs Physical Gold ETF

Return for Risk

GOAU vs. AAAU — Risk / Return Rank

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

GOAU

GOAU Risk / Return Rank: 80
GOAU Sharpe Ratio Rank: 86
GOAU Sortino Ratio Rank: 79
GOAU Omega Ratio Rank: 77
GOAU Calmar Ratio Rank: 82
GOAU Martin Ratio Rank: 76

AAAU

AAAU Risk / Return Rank: 81
AAAU Sharpe Ratio Rank: 85
AAAU Sortino Ratio Rank: 81
AAAU Omega Ratio Rank: 81
AAAU Calmar Ratio Rank: 80
AAAU Martin Ratio Rank: 77

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.

GOAU vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Global GO GOLD and Precious Metal Miners ETF (GOAU) 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.

	GOAU	AAAU	Difference
Sharpe ratio Return per unit of total volatility	1.83	1.80	+0.03
Sortino ratio Return per unit of downside risk	2.14	2.23	-0.09
Omega ratio Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio Return relative to maximum drawdown	2.73	2.59	+0.14
Martin ratio Return relative to average drawdown	9.30	9.38	-0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOAU vs. AAAU - Sharpe Ratio Comparison

The current GOAU Sharpe Ratio is 1.83, which is comparable to the AAAU Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of GOAU and AAAU, 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

	GOAU	AAAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.80	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	1.24	-0.67
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.16	-0.67

Correlation

The correlation between GOAU and AAAU is 0.75, 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.

Dividends

GOAU vs. AAAU - Dividend Comparison

GOAU's dividend yield for the trailing twelve months is around 0.87%, while AAAU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOAU US Global GO GOLD and Precious Metal Miners ETF	0.87%	0.94%	2.11%	0.99%	1.55%	1.28%	0.74%	0.16%	0.47%	0.27%
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%

Drawdowns

GOAU vs. AAAU - Drawdown Comparison

The maximum GOAU drawdown since its inception was -55.41%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for GOAU and AAAU.

Drawdown Indicators

	GOAU	AAAU	Difference
Max Drawdown Largest peak-to-trough decline	-55.41%	-21.63%	-33.78%
Max Drawdown (1Y) Largest decline over 1 year	-31.15%	-19.13%	-12.02%
Max Drawdown (5Y) Largest decline over 5 years	-48.52%	-20.94%	-27.58%
Current Drawdown Current decline from peak	-18.45%	-13.38%	-5.07%
Average Drawdown Average peak-to-trough decline	-18.77%	-6.01%	-12.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.14%	5.28%	+3.86%

Volatility

GOAU vs. AAAU - Volatility Comparison

US Global GO GOLD and Precious Metal Miners ETF (GOAU) has a higher volatility of 16.88% compared to Goldman Sachs Physical Gold ETF (AAAU) at 10.49%. This indicates that GOAU's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOAU	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.88%	10.49%	+6.39%
Volatility (6M) Calculated over the trailing 6-month period	39.45%	24.15%	+15.30%
Volatility (1Y) Calculated over the trailing 1-year period	46.75%	27.59%	+19.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.95%	17.60%	+18.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.36%	16.94%	+18.42%