GUSE vs. AAAU
GUSE (Goldman Sachs Enhanced U.S. Equity ETF) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - GUSE is a Large Cap Blend Equities fund actively managed by Goldman Sachs, while AAAU is a Gold fund tracking the LBMA Gold PM Price. GUSE is actively managed, while AAAU is passively managed. Their 0.39 correlation means their historical movements had little consistent relationship. GUSE charges 0.30%/yr vs 0.18%/yr for AAAU.
Performance
GUSE vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, GUSE achieves a 11.29% return, which is significantly higher than AAAU's -6.16% return.
GUSE
- 1D
- 0.76%
- 1M
- 0.25%
- 6M
- 9.66%
- YTD
- 11.29%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
AAAU
- 1D
- -1.46%
- 1M
- -1.72%
- 6M
- -16.57%
- YTD
- -6.16%
- 1Y
- 20.45%
- 3Y*
- 27.49%
- 5Y*
- 17.20%
- 10Y*
- —
- ALL TIME*
- 16.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.23M | $43.92M | $64.42M | |
| $364.55K | $258.31K | $277.29K |
GUSE vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GUSE Goldman Sachs Enhanced U.S. Equity ETF | 11.29% | 2.38% |
AAAU Goldman Sachs Physical Gold ETF | -6.16% | 5.49% |
Correlation
The correlation between GUSE and AAAU is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025 | 0.39 |
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Return for Risk
GUSE vs. AAAU — Risk / Return Rank
GUSE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AAAU
GUSE vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Enhanced U.S. Equity ETF (GUSE) 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.
| GUSE | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.17 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.87 | — |
| Martin ratioReturn relative to average drawdown | — | 1.89 | — |
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Drawdowns
GUSE vs. AAAU - Drawdown Comparison
The maximum GUSE drawdown since its inception was -8.54%, smaller than the maximum AAAU drawdown of -26.29%. Use the drawdown chart below to compare losses from any high point for GUSE and AAAU.
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Drawdown Indicators
| GUSE | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -26.29% | +17.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.29% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.29% | — |
Current DrawdownCurrent decline from peak | -1.02% | -24.96% | +23.94% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -6.53% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.13% | — |
Volatility
GUSE vs. AAAU - Volatility Comparison
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Volatility by Period
| GUSE | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.30% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 23.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.83% | 27.85% | -14.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 18.32% | -4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.83% | 17.24% | -3.41% |
GUSE vs. AAAU - Expense Ratio Comparison
GUSE has a 0.30% expense ratio, which is higher than AAAU's 0.18% expense ratio.
Dividends
GUSE vs. AAAU - Dividend Comparison
GUSE's dividend yield for the trailing twelve months is around 0.65%, while AAAU has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
AAAU Goldman Sachs Physical Gold ETF | 0.00% | 0.00% |
GUSE Goldman Sachs Enhanced U.S. Equity ETF | 0.65% | 0.73% |
Frequently Asked Questions
GUSE and AAAU have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AAAU is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AAAU is cheaper with a 0.18% expense ratio, compared with 0.30% for GUSE.
GUSE has the higher dividend yield at 0.65%, compared with 0.00% for AAAU.
GUSE is categorized as Large Cap Blend Equities, while AAAU is Gold. Their fees differ too: 0.30% for GUSE and 0.18% for AAAU.
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