OUNZ vs. BTGD

Last updated Jun 9, 2026

OUNZ (VanEck Merk Gold Trust) and BTGD (STKD Bitcoin & Gold ETF) are both exchange-traded funds - OUNZ is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt), while BTGD is a Cryptocurrency fund actively managed by Quantify Funds. OUNZ is passively managed, while BTGD is actively managed. Over the past year, OUNZ returned 30.33% vs -31.91% for BTGD. A 0.50 correlation means they provide meaningful diversification when combined. OUNZ charges 0.25%/yr vs 1.00%/yr for BTGD.

Performance

OUNZ vs. BTGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Merk Gold Trust (OUNZ) and STKD Bitcoin & Gold ETF (BTGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OUNZ achieves a 0.29% return, which is significantly higher than BTGD's -32.80% return.

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%

BTGD

• 1D: 5.44%
• 1M: -28.40%
• YTD: -32.80%
• 6M: -33.78%
• 1Y: -31.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OUNZ vs. BTGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OUNZ VanEck Merk Gold Trust	0.29%	63.95%	-2.05%
BTGD STKD Bitcoin & Gold ETF	-32.80%	34.62%	29.81%

Correlation

The correlation between OUNZ and BTGD is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.50

The correlation between OUNZ and BTGD has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.

Return for Risk

OUNZ vs. BTGD — Risk / Return Rank

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

OUNZ

OUNZ Risk / Return Rank: 34
OUNZ Sharpe Ratio Rank: 35
OUNZ Sortino Ratio Rank: 31
OUNZ Omega Ratio Rank: 39
OUNZ Calmar Ratio Rank: 34
OUNZ Martin Ratio Rank: 29

BTGD

BTGD Risk / Return Rank: 4
BTGD Sharpe Ratio Rank: 5
BTGD Sortino Ratio Rank: 5
BTGD Omega Ratio Rank: 5
BTGD Calmar Ratio Rank: 4
BTGD Martin Ratio Rank: 3

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. BTGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold Trust (OUNZ) and STKD Bitcoin & Gold ETF (BTGD). 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.

	OUNZ	BTGD	Difference
Sharpe ratio: Return per unit of total volatility	1.14	-0.57	+1.72
Sortino ratio: Return per unit of downside risk	1.53	-0.55	+2.08
Omega ratio: Gain probability vs. loss probability	1.23	0.93	+0.30
Calmar ratio: Return relative to maximum drawdown	1.52	-0.60	+2.12
Martin ratio: Return relative to average drawdown	3.82	-1.29	+5.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OUNZ vs. BTGD - Sharpe Ratio Comparison

The current OUNZ Sharpe Ratio is 1.14, which is higher than the BTGD Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of OUNZ and BTGD, 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

	OUNZ	BTGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	-0.57	+1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.19	+0.46

Drawdowns

OUNZ vs. BTGD - Drawdown Comparison

The maximum OUNZ drawdown since its inception was -21.77%, smaller than the maximum BTGD drawdown of -53.31%. Use the drawdown chart below to compare losses from any high point for OUNZ and BTGD.

Drawdown Indicators

	OUNZ	BTGD	Difference
Max Drawdown Largest peak-to-trough decline	-21.77%	-53.31%	+31.54%
Max Drawdown (1Y) Largest decline over 1 year	-20.00%	-53.31%	+33.31%
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.76%	—	—
Current Drawdown Current decline from peak	-19.83%	-50.77%	+30.94%
Average Drawdown Average peak-to-trough decline	-7.58%	-14.85%	+7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.96%	24.72%	-16.76%

Volatility

OUNZ vs. BTGD - Volatility Comparison

The current volatility for VanEck Merk Gold Trust (OUNZ) is 5.67%, while STKD Bitcoin & Gold ETF (BTGD) has a volatility of 14.85%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than BTGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OUNZ	BTGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	14.85%	-9.18%
Volatility (6M) Calculated over the trailing 6-month period	23.29%	46.45%	-23.16%
Volatility (1Y) Calculated over the trailing 1-year period	26.66%	56.04%	-29.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.99%	55.94%	-37.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.00%	55.94%	-39.94%

OUNZ vs. BTGD - Expense Ratio Comparison

OUNZ has a 0.25% expense ratio, which is lower than BTGD's 1.00% expense ratio.

Dividends

OUNZ vs. BTGD - Dividend Comparison

OUNZ has not paid dividends to shareholders, while BTGD's dividend yield for the trailing twelve months is around 5.00%.

Position	TTM	2025	2024
BTGD STKD Bitcoin & Gold ETF	5.00%	3.36%	0.19%
OUNZ VanEck Merk Gold Trust	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OUNZ and BTGD in my portfolio?

OUNZ and BTGD have a correlation of 0.58, 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 BTGD?

BTGD has higher volatility (14.85%) compared to OUNZ (5.67%). In terms of maximum drawdown, OUNZ dropped -21.77% vs BTGD's -53.31%.

Which ETF is better, OUNZ or BTGD?

On 1-year performance, OUNZ leads with 30.33% vs -31.91% for BTGD. On fees, OUNZ is cheaper at 0.25% per year. On volatility, OUNZ has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUNZ or BTGD?

Over the 1-year period, OUNZ has performed better with a 30.33% return vs -31.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUNZ or BTGD?

OUNZ is cheaper with a 0.25% expense ratio, compared with 1.00% for BTGD.

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

BTGD has the higher dividend yield at 5.00%, compared with 0.00% for OUNZ.

What is the main difference between OUNZ and BTGD?

OUNZ is categorized as Precious Metals, while BTGD is Cryptocurrency. They also come from different issuers: Merk and Quantify Funds. Their fees differ too: 0.25% for OUNZ and 1.00% for BTGD.

Which has better risk-adjusted returns?

OUNZ currently has the higher Sharpe Ratio (1.14 vs -0.57), 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.