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OUNZ vs. GDX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between OUNZ and GDX is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.0

Performance

OUNZ vs. GDX - Performance Comparison

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

60.00%80.00%100.00%120.00%140.00%160.00%NovemberDecember2025FebruaryMarchApril
146.21%
131.63%
OUNZ
GDX

Key characteristics

Sharpe Ratio

OUNZ:

2.51

GDX:

1.48

Sortino Ratio

OUNZ:

3.34

GDX:

2.01

Omega Ratio

OUNZ:

1.43

GDX:

1.26

Calmar Ratio

OUNZ:

5.17

GDX:

1.12

Martin Ratio

OUNZ:

14.16

GDX:

5.34

Ulcer Index

OUNZ:

2.96%

GDX:

9.25%

Daily Std Dev

OUNZ:

16.73%

GDX:

33.46%

Max Drawdown

OUNZ:

-21.77%

GDX:

-80.57%

Current Drawdown

OUNZ:

-3.45%

GDX:

-16.73%

Returns By Period

In the year-to-date period, OUNZ achieves a 25.93% return, which is significantly lower than GDX's 43.94% return. Both investments have delivered pretty close results over the past 10 years, with OUNZ having a 10.29% annualized return and GDX not far behind at 10.06%.


OUNZ

YTD

25.93%

1M

8.04%

6M

20.32%

1Y

40.85%

5Y*

13.71%

10Y*

10.29%

GDX

YTD

43.94%

1M

6.67%

6M

18.82%

1Y

42.81%

5Y*

9.12%

10Y*

10.06%

*Annualized

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OUNZ vs. GDX - Expense Ratio Comparison

OUNZ has a 0.25% expense ratio, which is lower than GDX's 0.53% expense ratio.


Expense ratio chart for GDX: current value is 0.53%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
GDX: 0.53%
Expense ratio chart for OUNZ: current value is 0.25%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
OUNZ: 0.25%

Risk-Adjusted Performance

OUNZ vs. GDX — Risk-Adjusted Performance Rank

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

OUNZ
The Risk-Adjusted Performance Rank of OUNZ is 9696
Overall Rank
The Sharpe Ratio Rank of OUNZ is 9797
Sharpe Ratio Rank
The Sortino Ratio Rank of OUNZ is 9696
Sortino Ratio Rank
The Omega Ratio Rank of OUNZ is 9595
Omega Ratio Rank
The Calmar Ratio Rank of OUNZ is 9797
Calmar Ratio Rank
The Martin Ratio Rank of OUNZ is 9696
Martin Ratio Rank

GDX
The Risk-Adjusted Performance Rank of GDX is 8787
Overall Rank
The Sharpe Ratio Rank of GDX is 9090
Sharpe Ratio Rank
The Sortino Ratio Rank of GDX is 8888
Sortino Ratio Rank
The Omega Ratio Rank of GDX is 8787
Omega Ratio Rank
The Calmar Ratio Rank of GDX is 8585
Calmar Ratio Rank
The Martin Ratio Rank of GDX is 8585
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

OUNZ vs. GDX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold Trust (OUNZ) and VanEck Vectors Gold Miners ETF (GDX). 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.


The chart of Sharpe ratio for OUNZ, currently valued at 2.51, compared to the broader market-1.000.001.002.003.004.00
OUNZ: 2.51
GDX: 1.48
The chart of Sortino ratio for OUNZ, currently valued at 3.34, compared to the broader market-2.000.002.004.006.008.00
OUNZ: 3.34
GDX: 2.01
The chart of Omega ratio for OUNZ, currently valued at 1.43, compared to the broader market0.501.001.502.002.50
OUNZ: 1.43
GDX: 1.26
The chart of Calmar ratio for OUNZ, currently valued at 5.17, compared to the broader market0.002.004.006.008.0010.0012.00
OUNZ: 5.17
GDX: 2.20
The chart of Martin ratio for OUNZ, currently valued at 14.16, compared to the broader market0.0020.0040.0060.00
OUNZ: 14.16
GDX: 5.34

The current OUNZ Sharpe Ratio is 2.51, which is higher than the GDX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of OUNZ and GDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.501.001.502.002.503.00NovemberDecember2025FebruaryMarchApril
2.51
1.48
OUNZ
GDX

Dividends

OUNZ vs. GDX - Dividend Comparison

OUNZ has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 0.83%.


TTM20242023202220212020201920182017201620152014
OUNZ
VanEck Merk Gold Trust
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GDX
VanEck Vectors Gold Miners ETF
0.83%1.19%1.61%1.66%1.67%0.53%0.65%0.50%0.76%0.26%0.85%0.66%

Drawdowns

OUNZ vs. GDX - Drawdown Comparison

The maximum OUNZ drawdown since its inception was -21.77%, smaller than the maximum GDX drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for OUNZ and GDX. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-3.45%
-5.97%
OUNZ
GDX

Volatility

OUNZ vs. GDX - Volatility Comparison

The current volatility for VanEck Merk Gold Trust (OUNZ) is 8.24%, while VanEck Vectors Gold Miners ETF (GDX) has a volatility of 15.99%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%12.00%14.00%16.00%NovemberDecember2025FebruaryMarchApril
8.24%
15.99%
OUNZ
GDX