OUNZ vs. GDE
Compare and contrast key facts about VanEck Merk Gold Trust (OUNZ) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE).
OUNZ and GDE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OUNZ is a passively managed fund by Merk that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on May 16, 2014. GDE is an actively managed fund by WisdomTree. It was launched on Mar 15, 2022.
Performance
OUNZ vs. GDE - Performance Comparison
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OUNZ vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OUNZ VanEck Merk Gold Trust | 8.61% | 63.95% | 26.75% | 12.83% | -6.00% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 2.08% | 73.76% | 44.79% | 33.85% | -18.67% |
Returns By Period
In the year-to-date period, OUNZ achieves a 8.61% return, which is significantly higher than GDE's 2.08% return.
OUNZ
- 1D
- 3.75%
- 1M
- -11.06%
- YTD
- 8.61%
- 6M
- 21.13%
- 1Y
- 49.47%
- 3Y*
- 33.11%
- 5Y*
- 21.74%
- 10Y*
- 14.00%
GDE
- 1D
- 5.90%
- 1M
- -13.55%
- YTD
- 2.08%
- 6M
- 14.59%
- 1Y
- 60.26%
- 3Y*
- 44.20%
- 5Y*
- —
- 10Y*
- —
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OUNZ vs. GDE - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is higher than GDE's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
OUNZ vs. GDE — Risk / Return Rank
OUNZ
GDE
OUNZ vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold Trust (OUNZ) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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 | GDE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.80 | 1.88 | -0.08 |
Sortino ratioReturn per unit of downside risk | 2.24 | 2.40 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.79 | -0.09 |
Martin ratioReturn relative to average drawdown | 9.98 | 10.98 | -1.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OUNZ | GDE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 1.88 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 1.11 | -0.41 |
Correlation
The correlation between OUNZ and GDE is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OUNZ vs. GDE - Dividend Comparison
OUNZ has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 4.23%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OUNZ VanEck Merk Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.23% | 4.32% | 7.14% | 2.22% | 0.81% |
Drawdowns
OUNZ vs. GDE - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -21.77%, smaller than the maximum GDE drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for OUNZ and GDE.
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Drawdown Indicators
| OUNZ | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.77% | -32.01% | +10.24% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -22.66% | +3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -21.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.76% | — | — |
Current DrawdownCurrent decline from peak | -13.18% | -17.41% | +4.23% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -7.74% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.17% | 5.75% | -0.58% |
Volatility
OUNZ vs. GDE - Volatility Comparison
The current volatility for VanEck Merk Gold Trust (OUNZ) is 10.95%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 12.84%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OUNZ | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.95% | 12.84% | -1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 24.08% | 25.23% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.59% | 32.26% | -4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 26.19% | -8.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 26.19% | -10.31% |