MSFT vs. AAAU

Last updated Jun 9, 2026

MSFT (Microsoft Corporation) is a stock, while AAAU (Goldman Sachs Physical Gold ETF) is Gold fund tracking the LBMA Gold PM Price. Over the past 5 years, MSFT returned 11.09%/yr vs 17.79%/yr for AAAU. At a 0.03 correlation, their price movements are largely independent.

Performance

MSFT vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Microsoft Corporation (MSFT) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFT achieves a -14.48% return, which is significantly lower than AAAU's 0.26% return.

MSFT

• 1D: -1.18%
• 1M: -0.60%
• YTD: -14.48%
• 6M: -15.77%
• 1Y: -11.77%
• 3Y*: 8.85%
• 5Y*: 11.09%
• 10Y*: 24.64%

AAAU

• 1D: 0.21%
• 1M: -8.45%
• YTD: 0.26%
• 6M: 3.13%
• 1Y: 30.40%
• 3Y*: 29.97%
• 5Y*: 17.79%
• 10Y*: —

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

MSFT vs. AAAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSFT Microsoft Corporation	-14.48%	15.58%	12.93%	58.19%	-28.02%	52.48%	42.53%	57.56%	-5.25%
AAAU Goldman Sachs Physical Gold ETF	0.26%	64.06%	26.91%	12.96%	-0.50%	-4.01%	25.02%	18.17%	9.20%

Correlation

The correlation between MSFT and AAAU is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.03

Return for Risk

MSFT vs. AAAU — Risk / Return Rank

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

MSFT

MSFT Risk / Return Rank: 24
MSFT Sharpe Ratio Rank: 21
MSFT Sortino Ratio Rank: 21
MSFT Omega Ratio Rank: 20
MSFT Calmar Ratio Rank: 31
MSFT Martin Ratio Rank: 28

AAAU

AAAU Risk / Return Rank: 34
AAAU Sharpe Ratio Rank: 35
AAAU Sortino Ratio Rank: 31
AAAU Omega Ratio Rank: 38
AAAU Calmar Ratio Rank: 34
AAAU Martin Ratio Rank: 29

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.

MSFT vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Microsoft Corporation (MSFT) 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.

	MSFT	AAAU	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	1.15	-1.62
Sortino ratio: Return per unit of downside risk	-0.49	1.53	-2.02
Omega ratio: Gain probability vs. loss probability	0.94	1.23	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.35	1.53	-1.88
Martin ratio: Return relative to average drawdown	-0.73	3.83	-4.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFT vs. AAAU - Sharpe Ratio Comparison

The current MSFT Sharpe Ratio is -0.47, which is lower than the AAAU Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of MSFT and AAAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSFT	AAAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	1.15	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	1.00	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.06	-0.32

Drawdowns

MSFT vs. AAAU - Drawdown Comparison

The maximum MSFT drawdown since its inception was -69.38%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for MSFT and AAAU.

Drawdown Indicators

	MSFT	AAAU	Difference
Max Drawdown Largest peak-to-trough decline	-69.38%	-21.63%	-47.75%
Max Drawdown (1Y) Largest decline over 1 year	-33.91%	-20.00%	-13.91%
Max Drawdown (3Y) Largest decline over 3 years	-33.91%	-20.00%	-13.91%
Max Drawdown (5Y) Largest decline over 5 years	-37.15%	-20.94%	-16.21%
Max Drawdown (10Y) Largest decline over 10 years	-37.15%	—	—
Current Drawdown Current decline from peak	-23.56%	-19.83%	-3.73%
Average Drawdown Average peak-to-trough decline	-21.78%	-6.20%	-15.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.13%	7.96%	+8.17%

Volatility

MSFT vs. AAAU - Volatility Comparison

Microsoft Corporation (MSFT) has a higher volatility of 10.25% compared to Goldman Sachs Physical Gold ETF (AAAU) at 5.65%. This indicates that MSFT'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.

Volatility by Period

	MSFT	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.25%	5.65%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	22.36%	23.25%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	25.31%	26.60%	-1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.64%	17.91%	+8.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.06%	17.03%	+10.03%

Dividends

MSFT vs. AAAU - Dividend Comparison

MSFT's dividend yield for the trailing twelve months is around 0.86%, 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%
MSFT Microsoft Corporation	0.86%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%

Frequently Asked Questions

Can I hold both MSFT and AAAU in my portfolio?

MSFT and AAAU have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFT or AAAU?

MSFT has higher volatility (10.25%) compared to AAAU (5.65%). In terms of maximum drawdown, MSFT dropped -69.38% vs AAAU's -21.63%.

Which has better risk-adjusted returns?

AAAU currently has the higher Sharpe Ratio (1.15 vs -0.47), 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.