OUNZ vs. SIVR
OUNZ (VanEck Merk Gold Trust) and SIVR (abrdn Physical Silver Shares ETF) are both exchange-traded funds - OUNZ is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt), while SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt). Both are passively managed. Over the past 10 years, OUNZ returned 13.22%/yr vs 15.77%/yr for SIVR. A 0.77 correlation means they provide meaningful diversification when combined. OUNZ charges 0.25%/yr vs 0.30%/yr for SIVR.
Performance
OUNZ vs. SIVR - Performance Comparison
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Returns By Period
In the year-to-date period, OUNZ achieves a 3.01% return, which is significantly higher than SIVR's 2.85% return. Over the past 10 years, OUNZ has underperformed SIVR with an annualized return of 13.22%, while SIVR has yielded a comparatively higher 15.77% annualized return.
OUNZ
- 1D
- -0.97%
- 1M
- -1.63%
- YTD
- 3.01%
- 6M
- 5.51%
- 1Y
- 32.21%
- 3Y*
- 31.27%
- 5Y*
- 18.34%
- 10Y*
- 13.22%
SIVR
- 1D
- -2.62%
- 1M
- 0.42%
- YTD
- 2.85%
- 6M
- 24.90%
- 1Y
- 110.95%
- 3Y*
- 45.38%
- 5Y*
- 21.00%
- 10Y*
- 15.77%
OUNZ vs. SIVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OUNZ VanEck Merk Gold Trust | 3.01% | 63.95% | 26.75% | 12.83% | -0.51% | -4.00% | 24.71% | 18.00% | -2.06% | 12.82% |
SIVR abrdn Physical Silver Shares ETF | 2.85% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
Correlation
The correlation between OUNZ and SIVR is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since May 19, 2014 | 0.77 |
The correlation between OUNZ and SIVR has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.
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Return for Risk
OUNZ vs. SIVR — Risk / Return Rank
OUNZ
SIVR
OUNZ vs. SIVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Merk Gold Trust (OUNZ) and abrdn Physical Silver Shares ETF (SIVR). 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.
| OUNZ | SIVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.35 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 2.63 | -0.94 |
| Martin ratioReturn relative to average drawdown | 4.20 | 5.67 | -1.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OUNZ | SIVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.90 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.58 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.50 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.32 | +0.34 |
Drawdowns
OUNZ vs. SIVR - Drawdown Comparison
The maximum OUNZ drawdown since its inception was -21.77%, smaller than the maximum SIVR drawdown of -75.85%. Use the drawdown chart below to compare losses from any high point for OUNZ and SIVR.
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Drawdown Indicators
| OUNZ | SIVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.77% | -75.85% | +54.08% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -42.42% | +23.28% |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | -42.42% | +23.28% |
Max Drawdown (5Y)Largest decline over 5 years | -21.01% | -42.42% | +21.41% |
Max Drawdown (10Y)Largest decline over 10 years | -21.76% | -42.42% | +20.66% |
Current DrawdownCurrent decline from peak | -17.65% | -37.25% | +19.60% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -47.85% | +40.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.69% | 19.64% | -11.95% |
Volatility
OUNZ vs. SIVR - Volatility Comparison
The current volatility for VanEck Merk Gold Trust (OUNZ) is 5.52%, while abrdn Physical Silver Shares ETF (SIVR) has a volatility of 16.28%. This indicates that OUNZ experiences smaller price fluctuations and is considered to be less risky than SIVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OUNZ | SIVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.52% | 16.28% | -10.76% |
Volatility (6M)Calculated over the trailing 6-month period | 22.98% | 58.30% | -35.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.40% | 58.84% | -32.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.91% | 36.17% | -18.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.96% | 31.87% | -15.91% |
OUNZ vs. SIVR - Expense Ratio Comparison
OUNZ has a 0.25% expense ratio, which is lower than SIVR's 0.30% expense ratio.
Dividends
OUNZ vs. SIVR - Dividend Comparison
Neither OUNZ nor SIVR has paid dividends to shareholders.
Frequently Asked Questions
OUNZ and SIVR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (16.28%) compared to OUNZ (5.52%). In terms of maximum drawdown, OUNZ dropped -21.77% vs SIVR's -75.85%.
On 10-year performance, SIVR leads with 15.77% vs 13.22% for OUNZ. On fees, OUNZ is cheaper at 0.25% per year. On volatility, OUNZ has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIVR has performed better with a 15.77% return vs 13.22%. 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 0.30% for SIVR.
OUNZ and SIVR have nearly identical dividend yields, around 0.00%.
OUNZ is categorized as Precious Metals, while SIVR is Silver. OUNZ tracks LBMA Gold Price PM ($/ozt), while SIVR tracks LBMA Silver Price ($/ozt). They also come from different issuers: Merk and abrdn. Their fees differ too: 0.25% for OUNZ and 0.30% for SIVR.
SIVR currently has the higher Sharpe Ratio (1.90 vs 1.23), 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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