GOLDX vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Gabelli Gold Fund (GOLDX) and Bitcoin (BTC-USD).

GOLDX is managed by Gabelli. It was launched on Jul 10, 1994.

Performance

GOLDX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Gold Fund (GOLDX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

GOLDX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOLDX Gabelli Gold Fund	5.89%	165.59%	14.92%	7.85%	-11.02%	-8.97%	26.30%	43.94%	-14.80%	6.22%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, GOLDX achieves a 5.89% return, which is significantly higher than BTC-USD's -21.63% return. Over the past 10 years, GOLDX has underperformed BTC-USD with an annualized return of 17.50%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

GOLDX

• 1D: 6.90%
• 1M: -22.40%
• YTD: 5.89%
• 6M: 26.14%
• 1Y: 112.30%
• 3Y*: 46.83%
• 5Y*: 25.75%
• 10Y*: 17.50%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

GOLDX vs. BTC-USD — Risk / Return Rank

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

GOLDX

GOLDX Risk / Return Rank: 94
GOLDX Sharpe Ratio Rank: 97
GOLDX Sortino Ratio Rank: 93
GOLDX Omega Ratio Rank: 91
GOLDX Calmar Ratio Rank: 96
GOLDX Martin Ratio Rank: 95

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

GOLDX vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Gold Fund (GOLDX) and Bitcoin (BTC-USD). 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.

	GOLDX	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	2.66	-0.44	+3.11
Sortino ratio Return per unit of downside risk	2.82	-0.38	+3.19
Omega ratio Gain probability vs. loss probability	1.42	0.96	+0.46
Calmar ratio Return relative to maximum drawdown	3.56	-1.11	+4.66
Martin ratio Return relative to average drawdown	13.69	-1.99	+15.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOLDX vs. BTC-USD - Sharpe Ratio Comparison

The current GOLDX Sharpe Ratio is 2.66, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of GOLDX and BTC-USD, 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

	GOLDX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	-0.44	+3.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.05	+0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.97	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.19	-0.96

Correlation

The correlation between GOLDX and BTC-USD is 0.09, 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

GOLDX vs. BTC-USD - Drawdown Comparison

The maximum GOLDX drawdown since its inception was -73.40%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for GOLDX and BTC-USD.

Drawdown Indicators

	GOLDX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-73.40%	-85.30%	+11.90%
Max Drawdown (1Y) Largest decline over 1 year	-31.96%	-49.65%	+17.69%
Max Drawdown (5Y) Largest decline over 5 years	-44.73%	-76.67%	+31.94%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-83.80%	+34.38%
Current Drawdown Current decline from peak	-22.40%	-45.02%	+22.62%
Average Drawdown Average peak-to-trough decline	-34.57%	-41.99%	+7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.30%	27.60%	-19.30%

Volatility

GOLDX vs. BTC-USD - Volatility Comparison

Gabelli Gold Fund (GOLDX) has a higher volatility of 17.80% compared to Bitcoin (BTC-USD) at 13.58%. This indicates that GOLDX's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOLDX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.80%	13.58%	+4.22%
Volatility (6M) Calculated over the trailing 6-month period	35.59%	35.98%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	42.77%	36.76%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.90%	46.90%	-15.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.24%	56.70%	-24.46%