GOLD.AS vs. ^NDX

Last updated Apr 2, 2026

Compare and contrast key facts about Amundi Physical Gold ETC C (GOLD.AS) and NASDAQ 100 Index (^NDX).

GOLD.AS is a passively managed fund by Amundi that tracks the performance of the LMBA Gold Price PM USD. It was launched on May 21, 2019.

Performance

GOLD.AS vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi Physical Gold ETC C (GOLD.AS) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

GOLD.AS vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GOLD.AS Amundi Physical Gold ETC C	10.79%	64.94%	26.36%	13.35%	-0.13%	-4.09%	24.31%	18.40%
^NDX NASDAQ 100 Index	-4.87%	20.17%	24.88%	53.81%	-32.97%	26.63%	47.58%	19.50%

Returns By Period

In the year-to-date period, GOLD.AS achieves a 10.79% return, which is significantly higher than ^NDX's -4.87% return.

GOLD.AS

• 1D: 3.68%
• 1M: -9.80%
• YTD: 10.79%
• 6M: 23.68%
• 1Y: 52.77%
• 3Y*: 34.02%
• 5Y*: 22.41%
• 10Y*: —

^NDX

• 1D: 1.18%
• 1M: -3.89%
• YTD: -4.87%
• 6M: -3.15%
• 1Y: 23.58%
• 3Y*: 22.14%
• 5Y*: 12.50%
• 10Y*: 18.15%

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

Return for Risk

GOLD.AS vs. ^NDX — Risk / Return Rank

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

GOLD.AS

GOLD.AS Risk / Return Rank: 89
GOLD.AS Sharpe Ratio Rank: 89
GOLD.AS Sortino Ratio Rank: 87
GOLD.AS Omega Ratio Rank: 86
GOLD.AS Calmar Ratio Rank: 90
GOLD.AS Martin Ratio Rank: 90

^NDX

^NDX Risk / Return Rank: 76
^NDX Sharpe Ratio Rank: 70
^NDX Sortino Ratio Rank: 74
^NDX Omega Ratio Rank: 74
^NDX Calmar Ratio Rank: 81
^NDX Martin Ratio Rank: 80

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.

GOLD.AS vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC C (GOLD.AS) and NASDAQ 100 Index (^NDX). 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.

	GOLD.AS	^NDX	Difference
Sharpe ratio Return per unit of total volatility	2.00	1.04	+0.96
Sortino ratio Return per unit of downside risk	2.46	1.62	+0.84
Omega ratio Gain probability vs. loss probability	1.36	1.23	+0.13
Calmar ratio Return relative to maximum drawdown	3.25	1.93	+1.31
Martin ratio Return relative to average drawdown	12.71	7.05	+5.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLD.AS vs. ^NDX - Sharpe Ratio Comparison

The current GOLD.AS Sharpe Ratio is 2.00, which is higher than the ^NDX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of GOLD.AS and ^NDX, 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

	GOLD.AS	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.04	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.30	0.56	+0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.55	+0.67

Correlation

The correlation between GOLD.AS and ^NDX is 0.05, 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.

Drawdowns

GOLD.AS vs. ^NDX - Drawdown Comparison

The maximum GOLD.AS drawdown since its inception was -21.14%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for GOLD.AS and ^NDX.

Drawdown Indicators

	GOLD.AS	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-21.14%	-82.90%	+61.76%
Max Drawdown (1Y) Largest decline over 1 year	-17.83%	-12.72%	-5.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.14%	-35.56%	+14.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-9.80%	-8.04%	-1.76%
Average Drawdown Average peak-to-trough decline	-6.14%	-24.72%	+18.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.56%	3.49%	+1.07%

Volatility

GOLD.AS vs. ^NDX - Volatility Comparison

Amundi Physical Gold ETC C (GOLD.AS) has a higher volatility of 12.03% compared to NASDAQ 100 Index (^NDX) at 6.65%. This indicates that GOLD.AS's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLD.AS	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.03%	6.65%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	22.45%	12.93%	+9.52%
Volatility (1Y) Calculated over the trailing 1-year period	25.94%	22.77%	+3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	22.61%	-5.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	22.48%	-5.60%