GS vs. AAAU
GS (The Goldman Sachs Group, Inc.) is a stock, while AAAU (Goldman Sachs Physical Gold ETF) is Gold fund tracking the LBMA Gold PM Price. Over the past 5 years, GS returned 25.98%/yr vs 17.33%/yr for AAAU. At a 0.01 correlation, their price movements are largely independent.
Performance
GS vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, GS achieves a 22.08% return, which is significantly higher than AAAU's -2.40% return.
GS
- 1D
- 2.62%
- 1M
- 12.54%
- YTD
- 22.08%
- 6M
- 20.84%
- 1Y
- 76.70%
- 3Y*
- 49.31%
- 5Y*
- 25.98%
- 10Y*
- 24.48%
AAAU
- 1D
- 0.12%
- 1M
- -7.36%
- YTD
- -2.40%
- 6M
- -2.14%
- 1Y
- 22.47%
- 3Y*
- 29.19%
- 5Y*
- 17.33%
- 10Y*
- —
GS vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 22.08% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 40.48% | -26.69% |
AAAU Goldman Sachs Physical Gold ETF | -2.40% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 8.28% |
Correlation
The correlation between GS and AAAU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018 | 0.01 |
The correlation between GS and AAAU shifts across timeframes, from 0.01 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GS vs. AAAU — Risk / Return Rank
GS
AAAU
GS vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Goldman Sachs Group, Inc. (GS) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GS | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.19 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 0.99 | +2.81 |
| Martin ratioReturn relative to average drawdown | 12.61 | 2.86 | +9.75 |
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Drawdowns
GS vs. AAAU - Drawdown Comparison
The maximum GS drawdown since its inception was -78.84%, which is greater than AAAU's maximum drawdown of -24.38%. Use the drawdown chart below to compare losses from any high point for GS and AAAU.
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Drawdown Indicators
| GS | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.84% | -24.38% | -54.46% |
Max Drawdown (1Y)Largest decline over 1 year | -19.42% | -24.38% | +4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -30.90% | -24.38% | -6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -24.38% | -8.46% |
Max Drawdown (10Y)Largest decline over 10 years | -48.75% | — | — |
Current DrawdownCurrent decline from peak | -2.73% | -21.95% | +19.22% |
Average DrawdownAverage peak-to-trough decline | -22.65% | -6.23% | -16.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 8.44% | -2.60% |
Volatility
GS vs. AAAU - Volatility Comparison
The Goldman Sachs Group, Inc. (GS) has a higher volatility of 11.84% compared to Goldman Sachs Physical Gold ETF (AAAU) at 7.77%. This indicates that GS'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.
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Volatility by Period
| GS | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.84% | 7.77% | +4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 23.47% | 23.88% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.55% | 27.10% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.10% | 18.06% | +10.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.87% | 17.13% | +12.74% |
Dividends
GS vs. AAAU - Dividend Comparison
GS's dividend yield for the trailing twelve months is around 1.60%, while AAAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GS The Goldman Sachs Group, Inc. | 1.60% | 1.59% | 2.01% | 2.72% | 2.62% | 1.70% | 1.90% | 1.80% | 1.89% | 1.14% | 1.09% | 1.41% |
Frequently Asked Questions
GS and AAAU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GS has higher volatility (11.84%) compared to AAAU (7.77%). In terms of maximum drawdown, GS dropped -78.84% vs AAAU's -24.38%.
GS currently has the higher Sharpe Ratio (2.59 vs 0.89), 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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