OUNZ vs. GDX
Compare and contrast key facts about VanEck Merk Gold Trust (OUNZ) and VanEck Vectors Gold Miners ETF (GDX).
OUNZ and GDX 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. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. Both OUNZ and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OUNZ or GDX.
Performance
OUNZ vs. GDX - Performance Comparison
Returns By Period
In the year-to-date period, OUNZ achieves a 26.35% return, which is significantly higher than GDX's 19.82% return. Both investments have delivered pretty close results over the past 10 years, with OUNZ having a 7.74% annualized return and GDX not far behind at 7.57%.
OUNZ
26.35%
-3.96%
7.50%
31.56%
11.88%
7.74%
GDX
19.82%
-13.89%
0.77%
32.84%
7.77%
7.57%
Key characteristics
| OUNZ | GDX | |
|---|---|---|
| Sharpe Ratio | 2.14 | 0.99 |
| Sortino Ratio | 2.88 | 1.51 |
| Omega Ratio | 1.37 | 1.18 |
| Calmar Ratio | 3.89 | 0.57 |
| Martin Ratio | 12.85 | 4.07 |
| Ulcer Index | 2.46% | 7.87% |
| Daily Std Dev | 14.77% | 32.22% |
| Max Drawdown | -21.77% | -80.57% |
| Current Drawdown | -6.25% | -37.35% |
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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.
Correlation
The correlation between OUNZ and GDX is 0.77, 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.
Risk-Adjusted Performance
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.
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 1.35%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 1.35% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
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.
Volatility
OUNZ vs. GDX - Volatility Comparison
The current volatility for VanEck Merk Gold Trust (OUNZ) is 5.66%, while VanEck Vectors Gold Miners ETF (GDX) has a volatility of 10.47%. 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.