OUNZ vs. BGLD

Last updated Jun 26, 2026

OUNZ (VanEck Merk Gold ETF) and BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) are both exchange-traded funds - OUNZ is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while BGLD is a Defined Outcome fund actively managed by FT Vest. OUNZ is passively managed, while BGLD is actively managed. Over the past 5 years, OUNZ returned 17.45%/yr vs 10.71%/yr for BGLD. Their correlation of 0.82 suggests significant overlap in exposure. OUNZ charges 0.25%/yr vs 0.91%/yr for BGLD.

Performance

OUNZ vs. BGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Merk Gold ETF (OUNZ) and FT Vest Gold Strategy Quarterly Buffer ETF (BGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OUNZ achieves a -6.68% return, which is significantly lower than BGLD's -4.82% return.

OUNZ

• 1D: 0.94%
• 1M: -10.70%
• YTD: -6.68%
• 6M: -10.23%
• 1Y: 20.52%
• 3Y*: 27.61%
• 5Y*: 17.45%
• 10Y*: 11.40%

BGLD

• 1D: 0.52%
• 1M: -5.85%
• YTD: -4.82%
• 6M: -7.37%
• 1Y: 7.57%
• 3Y*: 17.79%
• 5Y*: 10.71%
• 10Y*: —

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

OUNZ vs. BGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OUNZ VanEck Merk Gold ETF	-6.68%	63.95%	26.75%	12.83%	-0.51%	-2.47%
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	-4.82%	33.03%	21.80%	13.24%	-2.42%	-5.53%

Correlation

The correlation between OUNZ and BGLD is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.82

The correlation between OUNZ and BGLD has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

Return for Risk

OUNZ vs. BGLD — Risk / Return Rank

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

OUNZ

OUNZ Risk / Return Rank: 22
OUNZ Sharpe Ratio Rank: 23
OUNZ Sortino Ratio Rank: 21
OUNZ Omega Ratio Rank: 25
OUNZ Calmar Ratio Rank: 20
OUNZ Martin Ratio Rank: 20

BGLD

BGLD Risk / Return Rank: 18
BGLD Sharpe Ratio Rank: 19
BGLD Sortino Ratio Rank: 17
BGLD Omega Ratio Rank: 19
BGLD Calmar Ratio Rank: 16
BGLD Martin Ratio Rank: 18

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.

OUNZ vs. BGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold ETF (OUNZ) and FT Vest Gold Strategy Quarterly Buffer ETF (BGLD). 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.

	OUNZ	BGLD	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.60	+0.15
Sortino ratio: Return per unit of downside risk	1.10	0.88	+0.22
Omega ratio: Gain probability vs. loss probability	1.16	1.12	+0.04
Calmar ratio: Return relative to maximum drawdown	0.79	0.61	+0.18
Martin ratio: Return relative to average drawdown	2.20	1.80	+0.40

OUNZ vs. BGLD - Sharpe Ratio Comparison

The current OUNZ Sharpe Ratio is 0.75, which is comparable to the BGLD Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of OUNZ and BGLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OUNZ vs. BGLD - Drawdown Comparison

The maximum OUNZ drawdown since its inception was -26.09%, which is greater than BGLD's maximum drawdown of -16.19%. Use the drawdown chart below to compare losses from any high point for OUNZ and BGLD.

Drawdown Indicators

	OUNZ	BGLD	Difference
Max Drawdown Largest peak-to-trough decline	-26.09%	-16.19%	-9.90%
Max Drawdown (1Y) Largest decline over 1 year	-26.09%	-12.43%	-13.66%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-12.43%	-13.66%
Max Drawdown (5Y) Largest decline over 5 years	-26.09%	-15.42%	-10.67%
Max Drawdown (10Y) Largest decline over 10 years	-26.09%	—	—
Current Drawdown Current decline from peak	-25.40%	-11.97%	-13.43%
Average Drawdown Average peak-to-trough decline	-7.64%	-3.71%	-3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.33%	4.21%	+5.12%

Volatility

OUNZ vs. BGLD - Volatility Comparison

VanEck Merk Gold ETF (OUNZ) has a higher volatility of 8.64% compared to FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) at 4.81%. This indicates that OUNZ's price experiences larger fluctuations and is considered to be riskier than BGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OUNZ	BGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.64%	4.81%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	24.28%	10.85%	+13.43%
Volatility (1Y) Calculated over the trailing 1-year period	27.49%	12.62%	+14.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	10.16%	+8.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	10.04%	+6.04%

OUNZ vs. BGLD - Expense Ratio Comparison

OUNZ has a 0.25% expense ratio, which is lower than BGLD's 0.91% expense ratio.

Dividends

OUNZ vs. BGLD - Dividend Comparison

OUNZ has not paid dividends to shareholders, while BGLD's dividend yield for the trailing twelve months is around 46.57%.

Position	TTM	2025	2024	2023	2022
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	46.57%	44.32%	25.04%	10.49%	0.40%
OUNZ VanEck Merk Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OUNZ and BGLD in my portfolio?

OUNZ and BGLD have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUNZ or BGLD?

OUNZ has higher volatility (8.64%) compared to BGLD (4.81%). In terms of maximum drawdown, OUNZ dropped -26.09% vs BGLD's -16.19%.

Which ETF is better, OUNZ or BGLD?

On 5-year performance, OUNZ leads with 17.45% vs 10.71% for BGLD. On fees, OUNZ is cheaper at 0.25% per year. On volatility, BGLD has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUNZ or BGLD?

Over the 5-year period, OUNZ has performed better with a 17.45% return vs 10.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUNZ or BGLD?

OUNZ is cheaper with a 0.25% expense ratio, compared with 0.91% for BGLD.

Which ETF pays a higher dividend yield, OUNZ or BGLD?

BGLD has the higher dividend yield at 46.57%, compared with 0.00% for OUNZ.

What is the main difference between OUNZ and BGLD?

OUNZ is categorized as Gold, while BGLD is Defined Outcome. They also come from different issuers: VanEck and FT Vest. Their fees differ too: 0.25% for OUNZ and 0.91% for BGLD.

Which has better risk-adjusted returns?

OUNZ currently has the higher Sharpe Ratio (0.75 vs 0.60), 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.