OUNZ vs. GLTR
OUNZ (VanEck Merk Gold ETF) and GLTR (abrdn Physical Precious Metals Basket Shares ETF) are both exchange-traded funds - OUNZ is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index. Both are passively managed. Over the past 10 years, OUNZ returned 11.40%/yr vs 10.84%/yr for GLTR. Their correlation of 0.90 suggests significant overlap in exposure. OUNZ charges 0.25%/yr vs 0.60%/yr for GLTR.
Performance
OUNZ vs. GLTR - Performance Comparison
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Returns By Period
In the year-to-date period, OUNZ achieves a -6.68% return, which is significantly higher than GLTR's -12.36% return. Both investments have delivered pretty close results over the past 10 years, with OUNZ having a 11.40% annualized return and GLTR not far behind at 10.84%.
OUNZ
- 1D
- 0.94%
- 1M
- -10.70%
- YTD
- -6.68%
- 6M
- -10.23%
- 1Y
- 20.52%
- 3Y*
- 27.61%
- 5Y*
- 17.45%
- 10Y*
- 11.40%
GLTR
- 1D
- 1.12%
- 1M
- -16.17%
- YTD
- -12.36%
- 6M
- -15.32%
- 1Y
- 29.48%
- 3Y*
- 27.25%
- 5Y*
- 13.42%
- 10Y*
- 10.84%
OUNZ vs. GLTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OUNZ VanEck Merk Gold ETF | -6.68% | 63.95% | 26.75% | 12.83% | -0.51% | -4.00% | 24.71% | 18.00% | -2.06% | 12.82% |
GLTR abrdn Physical Precious Metals Basket Shares ETF | -12.36% | 87.25% | 20.63% | 2.01% | -0.25% | -9.60% | 29.52% | 20.96% | -2.85% | 12.94% |
Correlation
The correlation between OUNZ and GLTR is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 16, 2014 | 0.90 |
The correlation between OUNZ and GLTR has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
OUNZ vs. GLTR — Risk / Return Rank
OUNZ
GLTR
OUNZ vs. GLTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold ETF (OUNZ) and abrdn Physical Precious Metals Basket Shares ETF (GLTR). 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 | GLTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.17 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 0.79 | 0.00 |
| Martin ratioReturn relative to average drawdown | 2.20 | 1.96 | +0.24 |
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Drawdowns
OUNZ vs. GLTR - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -26.09%, smaller than the maximum GLTR drawdown of -55.70%. Use the drawdown chart below to compare losses from any high point for OUNZ and GLTR.
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Drawdown Indicators
| OUNZ | GLTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.09% | -55.70% | +29.61% |
Max Drawdown (1Y)Largest decline over 1 year | -26.09% | -37.52% | +11.43% |
Max Drawdown (3Y)Largest decline over 3 years | -26.09% | -37.52% | +11.43% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -37.52% | +11.43% |
Max Drawdown (10Y)Largest decline over 10 years | -26.09% | -37.52% | +11.43% |
Current DrawdownCurrent decline from peak | -25.40% | -36.82% | +11.42% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -28.83% | +21.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.33% | 15.05% | -5.72% |
Volatility
OUNZ vs. GLTR - Volatility Comparison
The current volatility for VanEck Merk Gold ETF (OUNZ) is 8.64%, while abrdn Physical Precious Metals Basket Shares ETF (GLTR) has a volatility of 10.83%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than GLTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OUNZ | GLTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 10.83% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 24.28% | 36.71% | -12.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.49% | 39.05% | -11.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 23.99% | -5.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 20.73% | -4.65% |
OUNZ vs. GLTR - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is lower than GLTR's 0.60% expense ratio.
Dividends
OUNZ vs. GLTR - Dividend Comparison
Neither OUNZ nor GLTR has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, OUNZ and GLTR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GLTR has higher volatility (10.83%) compared to OUNZ (8.64%). In terms of maximum drawdown, OUNZ dropped -26.09% vs GLTR's -55.70%.
On 10-year performance, OUNZ leads with 11.40% vs 10.84% for GLTR. On fees, OUNZ is cheaper at 0.25% per year. On volatility, OUNZ has been the lower-risk option at 8.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, OUNZ has performed better with a 11.40% return vs 10.84%. 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 0.60% for GLTR.
OUNZ and GLTR have nearly identical dividend yields, around 0.00%.
OUNZ is categorized as Gold, while GLTR is Precious Metals. OUNZ tracks LBMA Gold Price PM ($/ozt), while GLTR tracks ETFS Physical Precious Metals Basket Index. They also come from different issuers: VanEck and abrdn. Their fees differ too: 0.25% for OUNZ and 0.60% for GLTR.
GLTR currently has the higher Sharpe Ratio (0.76 vs 0.75), 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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