SAND vs. AAAU

Last updated Apr 2, 2026

Compare and contrast key facts about Sandstorm Gold Ltd. (SAND) and Goldman Sachs Physical Gold ETF (AAAU).

AAAU is a passively managed fund by Goldman Sachs that tracks the performance of the LBMA Gold PM Price. It was launched on Jul 26, 2018.

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.

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	10.48%	64.06%	26.91%	12.96%	-0.50%	-4.01%	25.02%	18.17%	9.20%

Returns By Period

SAND

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

AAAU

• 1D: 1.78%
• 1M: -10.64%
• YTD: 10.48%
• 6M: 23.10%
• 1Y: 52.53%
• 3Y*: 33.97%
• 5Y*: 22.27%
• 10Y*: —

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

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: 86
AAAU Sharpe Ratio Rank: 88
AAAU Sortino Ratio Rank: 85
AAAU Omega Ratio Rank: 85
AAAU Calmar Ratio Rank: 86
AAAU Martin Ratio Rank: 84

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	—	1.92	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.18	—

Correlation

The correlation between SAND and AAAU is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SAND vs. AAAU - Dividend Comparison

SAND's dividend yield for the trailing twelve months is around 0.36%, while AAAU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
SAND Sandstorm Gold Ltd.	0.36%	0.47%	1.06%	1.19%	1.17%
AAAU Goldman Sachs Physical Gold ETF	0.00%	0.00%	0.00%	0.00%	0.00%

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 (5Y) Largest decline over 5 years	—	-20.94%	—
Current Drawdown Current decline from peak	—	-11.65%	—
Average Drawdown Average peak-to-trough decline	—	-6.01%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.21%	—

Volatility

Volatility by Period

	SAND	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	27.50%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.58%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.92%	—