LQD vs. OUNZ
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and OUNZ (VanEck Merk Gold Trust) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while OUNZ is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, LQD returned 2.41%/yr vs 12.64%/yr for OUNZ. At a 0.33 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 0.25%/yr for OUNZ.
Performance
LQD vs. OUNZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LQD achieves a -0.06% return, which is significantly lower than OUNZ's 0.29% return. Over the past 10 years, LQD has underperformed OUNZ with an annualized return of 2.41%, while OUNZ has yielded a comparatively higher 12.64% annualized return.
LQD
- 1D
- -0.10%
- 1M
- -0.67%
- YTD
- -0.06%
- 6M
- -0.06%
- 1Y
- 5.73%
- 3Y*
- 4.95%
- 5Y*
- -0.28%
- 10Y*
- 2.41%
OUNZ
- 1D
- 0.22%
- 1M
- -8.43%
- YTD
- 0.29%
- 6M
- 3.12%
- 1Y
- 30.33%
- 3Y*
- 29.90%
- 5Y*
- 17.72%
- 10Y*
- 12.64%
LQD vs. OUNZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.06% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
OUNZ VanEck Merk Gold Trust | 0.29% | 63.95% | 26.75% | 12.83% | -0.51% | -4.00% | 24.71% | 18.00% | -2.06% | 12.82% |
Correlation
The correlation between LQD and OUNZ is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since May 19, 2014 | 0.33 |
The correlation between LQD and OUNZ shifts across timeframes, from 0.21 (1 year) to 0.34 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LQD vs. OUNZ — Risk / Return Rank
LQD
OUNZ
LQD vs. OUNZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and VanEck Merk Gold Trust (OUNZ). 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.
| LQD | OUNZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.52 | +0.20 |
| Martin ratioReturn relative to average drawdown | 4.88 | 3.82 | +1.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| LQD | OUNZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.14 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.99 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.79 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.64 | -0.11 |
Drawdowns
LQD vs. OUNZ - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, which is greater than OUNZ's maximum drawdown of -21.77%. Use the drawdown chart below to compare losses from any high point for LQD and OUNZ.
Loading charts...
Drawdown Indicators
| LQD | OUNZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -21.77% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -20.00% | +16.66% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -20.00% | +11.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -21.01% | -3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -21.76% | -3.19% |
Current DrawdownCurrent decline from peak | -4.21% | -19.83% | +15.62% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -7.58% | +3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 7.96% | -6.78% |
Volatility
LQD vs. OUNZ - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.62%, while VanEck Merk Gold Trust (OUNZ) has a volatility of 5.67%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than OUNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LQD | OUNZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 5.67% | -4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 23.29% | -19.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 26.66% | -21.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 17.99% | -9.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 16.00% | -7.32% |
LQD vs. OUNZ - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than OUNZ's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LQD vs. OUNZ - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.59%, while OUNZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.59% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
OUNZ VanEck Merk Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LQD and OUNZ have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OUNZ has higher volatility (5.67%) compared to LQD (1.62%). In terms of maximum drawdown, LQD dropped -24.95% vs OUNZ's -21.77%.
On 10-year performance, OUNZ leads with 12.64% vs 2.41% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, OUNZ has performed better with a 12.64% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQD is cheaper with a 0.15% expense ratio, compared with 0.25% for OUNZ.
LQD has the higher dividend yield at 4.59%, compared with 0.00% for OUNZ.
LQD is categorized as Corporate Bonds, while OUNZ is Precious Metals. LQD tracks iBoxx $ Liquid Investment Grade Index, while OUNZ tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: iShares and Merk. Their fees differ too: 0.15% for LQD and 0.25% for OUNZ.
OUNZ currently has the higher Sharpe Ratio (1.14 vs 1.08), 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.
Find the right allocation for LQD and OUNZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer