SAND vs. AAAU

Last updated Jun 5, 2026

SAND (Sandstorm Gold Ltd.) is a stock, while AAAU (Goldman Sachs Physical Gold ETF) is Gold fund tracking the LBMA Gold PM Price. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

SAND vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sandstorm Gold Ltd. (SAND) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SAND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAAU

• 1D: 0.87%
• 1M: -1.63%
• YTD: 3.83%
• 6M: 6.34%
• 1Y: 32.55%
• 3Y*: 31.47%
• 5Y*: 18.60%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SAND vs. AAAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SAND Sandstorm Gold Ltd.	0.00%	118.72%	12.15%	-3.32%	-14.29%	-13.53%	-3.76%	61.61%	24.93%
AAAU Goldman Sachs Physical Gold ETF	3.83%	64.06%	26.91%	12.96%	-0.50%	-4.01%	25.02%	18.17%	9.20%

Correlation

The correlation between SAND and AAAU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.59

Over the past year, the correlation between SAND and AAAU has dropped to 0.31 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

SAND vs. AAAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAAU

AAAU Risk / Return Rank: 34
AAAU Sharpe Ratio Rank: 36
AAAU Sortino Ratio Rank: 31
AAAU Omega Ratio Rank: 39
AAAU Calmar Ratio Rank: 35
AAAU Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SAND vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sandstorm Gold Ltd. (SAND) and Goldman Sachs Physical Gold ETF (AAAU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SAND	AAAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.09	—

Drawdowns

Drawdown Indicators

	SAND	AAAU	Difference
Max Drawdown Largest peak-to-trough decline	—	-21.63%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-19.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.94%	—
Current Drawdown Current decline from peak	—	-16.97%	—
Average Drawdown Average peak-to-trough decline	—	-6.19%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.76%	—

Volatility

Volatility by Period

	SAND	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.33%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.83%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.99%	—

Dividends

SAND vs. AAAU - Dividend Comparison

SAND's dividend yield for the trailing twelve months is around 0.24%, while AAAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AAAU Goldman Sachs Physical Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%
SAND Sandstorm Gold Ltd.	0.24%	0.47%	1.06%	1.19%	1.17%

Frequently Asked Questions

Can I hold both SAND and AAAU in my portfolio?

SAND and AAAU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.