OUNZ vs. MOAT
OUNZ (VanEck Merk Gold ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - OUNZ is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, OUNZ returned 11.40%/yr vs 14.10%/yr for MOAT. At a 0.03 correlation, their price movements are largely independent. OUNZ charges 0.25%/yr vs 0.47%/yr for MOAT.
Performance
OUNZ vs. MOAT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OUNZ achieves a -6.68% return, which is significantly lower than MOAT's -1.35% return. Over the past 10 years, OUNZ has underperformed MOAT with an annualized return of 11.40%, while MOAT has yielded a comparatively higher 14.10% annualized return.
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%
MOAT
- 1D
- 0.02%
- 1M
- 0.06%
- YTD
- -1.35%
- 6M
- -2.43%
- 1Y
- 12.09%
- 3Y*
- 10.80%
- 5Y*
- 7.84%
- 10Y*
- 14.10%
OUNZ vs. MOAT - 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% |
MOAT VanEck Morningstar Wide Moat ETF | -1.35% | 13.20% | 10.73% | 31.89% | -13.66% | 24.12% | 14.84% | 34.79% | -1.28% | 23.18% |
Correlation
The correlation between OUNZ and MOAT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 16, 2014 | 0.03 |
The correlation between OUNZ and MOAT shifts across timeframes, from 0.03 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OUNZ vs. MOAT — Risk / Return Rank
OUNZ
MOAT
OUNZ vs. MOAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold ETF (OUNZ) and VanEck Morningstar Wide Moat ETF (MOAT). 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 | MOAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 0.98 | -0.19 |
| Martin ratioReturn relative to average drawdown | 2.20 | 2.92 | -0.71 |
Loading charts...
Drawdowns
OUNZ vs. MOAT - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -26.09%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for OUNZ and MOAT.
Loading charts...
Drawdown Indicators
| OUNZ | MOAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.09% | -33.31% | +7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -26.09% | -12.43% | -13.66% |
Max Drawdown (3Y)Largest decline over 3 years | -26.09% | -21.44% | -4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -23.96% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -26.09% | -33.31% | +7.22% |
Current DrawdownCurrent decline from peak | -25.40% | -5.12% | -20.28% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -3.83% | -3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.33% | 4.15% | +5.18% |
Volatility
OUNZ vs. MOAT - Volatility Comparison
VanEck Merk Gold ETF (OUNZ) has a higher volatility of 8.64% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.72%. This indicates that OUNZ's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OUNZ | MOAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 4.72% | +3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 24.28% | 10.24% | +14.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.49% | 13.96% | +13.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 18.24% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 18.65% | -2.57% |
OUNZ vs. MOAT - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is lower than MOAT's 0.47% expense ratio.
Dividends
OUNZ vs. MOAT - Dividend Comparison
OUNZ has not paid dividends to shareholders, while MOAT's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MOAT VanEck Morningstar Wide Moat ETF | 1.37% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
OUNZ VanEck Merk Gold ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OUNZ and MOAT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OUNZ has higher volatility (8.64%) compared to MOAT (4.72%). In terms of maximum drawdown, OUNZ dropped -26.09% vs MOAT's -33.31%.
On 10-year performance, MOAT leads with 14.10% vs 11.40% for OUNZ. On fees, OUNZ is cheaper at 0.25% per year. On volatility, MOAT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MOAT has performed better with a 14.10% return vs 11.40%. 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 0.47% for MOAT.
MOAT has the higher dividend yield at 1.37%, compared with 0.00% for OUNZ.
OUNZ is categorized as Gold, while MOAT is Large Cap Blend Equities. OUNZ tracks LBMA Gold Price PM ($/ozt), while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.25% for OUNZ and 0.47% for MOAT.
MOAT currently has the higher Sharpe Ratio (0.87 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.
Find the right allocation for OUNZ and MOAT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer