OUNZ vs. DFIV
OUNZ (VanEck Merk Gold ETF) and DFIV (Dimensional International Value ETF) are both exchange-traded funds - OUNZ is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while DFIV is a Foreign Large Cap Equities fund actively managed by Dimensional. OUNZ is passively managed, while DFIV is actively managed. Over the past 3 years, OUNZ returned 27.36%/yr vs 22.23%/yr for DFIV. At a 0.32 correlation, their price movements are largely independent. OUNZ charges 0.25%/yr vs 0.27%/yr for DFIV.
Performance
OUNZ vs. DFIV - Performance Comparison
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Returns By Period
In the year-to-date period, OUNZ achieves a -5.33% return, which is significantly lower than DFIV's 14.01% return.
OUNZ
- 1D
- 1.97%
- 1M
- -3.16%
- 6M
- -14.22%
- YTD
- -5.33%
- 1Y
- 19.91%
- 3Y*
- 27.36%
- 5Y*
- 17.44%
- 10Y*
- 11.59%
- ALL TIME*
- 9.56%
DFIV
- 1D
- 1.19%
- 1M
- 2.64%
- 6M
- 11.75%
- YTD
- 14.01%
- 1Y
- 33.73%
- 3Y*
- 22.23%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.66%
OUNZ vs. DFIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OUNZ VanEck Merk Gold ETF | -5.33% | 63.95% | 26.75% | 12.83% | -0.51% | 2.18% |
DFIV Dimensional International Value ETF | 14.01% | 45.36% | 7.26% | 17.75% | -3.70% | 0.50% |
Correlation
The correlation between OUNZ and DFIV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021 | 0.32 |
The correlation between OUNZ and DFIV shifts across timeframes, from 0.32 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OUNZ vs. DFIV — Risk / Return Rank
OUNZ
DFIV
OUNZ vs. DFIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold ETF (OUNZ) and Dimensional International Value ETF (DFIV). 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 | DFIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.43 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 3.51 | -2.75 |
| Martin ratioReturn relative to average drawdown | 1.76 | 13.33 | -11.56 |
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Drawdowns
OUNZ vs. DFIV - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -26.31%, roughly equal to the maximum DFIV drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for OUNZ and DFIV.
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Drawdown Indicators
| OUNZ | DFIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.31% | -25.42% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -26.31% | -9.66% | -16.65% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -14.72% | -11.59% |
Max Drawdown (5Y)Largest decline over 5 years | -26.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.31% | — | — |
Current DrawdownCurrent decline from peak | -24.32% | -0.34% | -23.98% |
Average DrawdownAverage peak-to-trough decline | -7.73% | -4.39% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.33% | 2.54% | +8.79% |
Volatility
OUNZ vs. DFIV - Volatility Comparison
VanEck Merk Gold ETF (OUNZ) has a higher volatility of 6.78% compared to Dimensional International Value ETF (DFIV) at 3.43%. This indicates that OUNZ's price experiences larger fluctuations and is considered to be riskier than DFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OUNZ | DFIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.78% | 3.43% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 24.08% | 11.68% | +12.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 14.11% | +13.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 16.56% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 16.56% | -0.43% |
OUNZ vs. DFIV - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is lower than DFIV's 0.27% 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
OUNZ vs. DFIV - Dividend Comparison
OUNZ has not paid dividends to shareholders, while DFIV's dividend yield for the trailing twelve months is around 2.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DFIV Dimensional International Value ETF | 2.64% | 2.92% | 3.88% | 3.93% | 3.84% | 2.30% |
OUNZ VanEck Merk Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OUNZ and DFIV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OUNZ has higher volatility (6.78%) compared to DFIV (3.43%). In terms of maximum drawdown, OUNZ dropped -26.31% vs DFIV's -25.42%.
On 3-year performance, OUNZ leads with 27.36% vs 22.23% for DFIV. On fees, OUNZ is cheaper at 0.25% per year. On volatility, DFIV has been the lower-risk option at 3.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OUNZ has performed better with a 27.36% return vs 22.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OUNZ is cheaper with a 0.25% expense ratio, compared with 0.27% for DFIV.
DFIV has the higher dividend yield at 2.64%, compared with 0.00% for OUNZ.
OUNZ is categorized as Gold, while DFIV is Foreign Large Cap Equities. They also come from different issuers: VanEck and Dimensional. Their fees differ too: 0.25% for OUNZ and 0.27% for DFIV.
DFIV currently has the higher Sharpe Ratio (2.40 vs 0.72), 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.
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