OUNZ vs. SGDJ
OUNZ (VanEck Merk Gold ETF) and SGDJ (Sprott Junior Gold Miners ETF) are both Gold funds - OUNZ tracks the LBMA Gold Price PM ($/ozt) while SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, OUNZ returned 11.40%/yr vs 9.57%/yr for SGDJ. A 0.75 correlation means they provide meaningful diversification when combined. OUNZ charges 0.25%/yr vs 0.50%/yr for SGDJ.
Performance
OUNZ vs. SGDJ - 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 SGDJ's -10.12% return. Over the past 10 years, OUNZ has outperformed SGDJ with an annualized return of 11.40%, while SGDJ has yielded a comparatively lower 9.57% 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%
SGDJ
- 1D
- 0.49%
- 1M
- -14.44%
- YTD
- -10.12%
- 6M
- -13.19%
- 1Y
- 67.69%
- 3Y*
- 47.56%
- 5Y*
- 16.10%
- 10Y*
- 9.57%
OUNZ vs. SGDJ - 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% |
SGDJ Sprott Junior Gold Miners ETF | -10.12% | 174.44% | 19.35% | 6.66% | -27.60% | -15.12% | 47.91% | 37.00% | -25.63% | 5.94% |
Correlation
The correlation between OUNZ and SGDJ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2015 | 0.75 |
The correlation between OUNZ and SGDJ has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
OUNZ vs. SGDJ — Risk / Return Rank
OUNZ
SGDJ
OUNZ vs. SGDJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold ETF (OUNZ) and Sprott Junior Gold Miners ETF (SGDJ). 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 | SGDJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.85 | -1.06 |
| Martin ratioReturn relative to average drawdown | 2.20 | 4.68 | -2.48 |
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Drawdowns
OUNZ vs. SGDJ - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -26.09%, smaller than the maximum SGDJ drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for OUNZ and SGDJ.
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Drawdown Indicators
| OUNZ | SGDJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.09% | -59.27% | +33.18% |
Max Drawdown (1Y)Largest decline over 1 year | -26.09% | -36.84% | +10.75% |
Max Drawdown (3Y)Largest decline over 3 years | -26.09% | -36.84% | +10.75% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -52.66% | +26.57% |
Max Drawdown (10Y)Largest decline over 10 years | -26.09% | -59.27% | +33.18% |
Current DrawdownCurrent decline from peak | -25.40% | -34.47% | +9.07% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -26.26% | +18.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.33% | 14.51% | -5.18% |
Volatility
OUNZ vs. SGDJ - Volatility Comparison
The current volatility for VanEck Merk Gold ETF (OUNZ) is 8.64%, while Sprott Junior Gold Miners ETF (SGDJ) has a volatility of 18.98%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than SGDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OUNZ | SGDJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.64% | 18.98% | -10.34% |
Volatility (6M)Calculated over the trailing 6-month period | 24.28% | 42.78% | -18.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.49% | 51.05% | -23.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 40.94% | -22.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 40.98% | -24.90% |
OUNZ vs. SGDJ - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is lower than SGDJ's 0.50% expense ratio.
Dividends
OUNZ vs. SGDJ - Dividend Comparison
OUNZ has not paid dividends to shareholders, while SGDJ's dividend yield for the trailing twelve months is around 9.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SGDJ Sprott Junior Gold Miners ETF | 9.31% | 8.37% | 6.55% | 4.55% | 2.46% | 2.20% | 1.97% | 0.65% | 0.00% | 0.14% | 1.77% | 0.85% |
Frequently Asked Questions
OUNZ and SGDJ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGDJ has higher volatility (18.98%) compared to OUNZ (8.64%). In terms of maximum drawdown, OUNZ dropped -26.09% vs SGDJ's -59.27%.
On 10-year performance, OUNZ leads with 11.40% vs 9.57% for SGDJ. 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 9.57%. 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 0.50% for SGDJ.
SGDJ has the higher dividend yield at 9.31%, compared with 0.00% for OUNZ.
OUNZ tracks LBMA Gold Price PM ($/ozt), while SGDJ tracks Solactive Junior Gold Miners Custom Factors Index. They also come from different issuers: VanEck and Sprott. Their fees differ too: 0.25% for OUNZ and 0.50% for SGDJ.
SGDJ currently has the higher Sharpe Ratio (1.33 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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