SGDM vs. AAAU
Compare and contrast key facts about Sprott Gold Miners ETF (SGDM) and Goldman Sachs Physical Gold ETF (AAAU).
SGDM and AAAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SGDM is a passively managed fund by Sprott that tracks the performance of the Solactive Gold Miners Custom Factors Index. It was launched on Jul 15, 2014. 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. Both SGDM and AAAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SGDM vs. AAAU - Performance Comparison
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SGDM vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SGDM Sprott Gold Miners ETF | 13.63% | 153.46% | 12.14% | 2.34% | -8.23% | -9.15% | 21.85% | 44.27% | 11.09% |
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
In the year-to-date period, SGDM achieves a 13.63% return, which is significantly higher than AAAU's 10.48% return.
SGDM
- 1D
- 4.81%
- 1M
- -17.00%
- YTD
- 13.63%
- 6M
- 27.33%
- 1Y
- 111.01%
- 3Y*
- 42.57%
- 5Y*
- 24.69%
- 10Y*
- 16.46%
AAAU
- 1D
- 1.78%
- 1M
- -10.64%
- YTD
- 10.48%
- 6M
- 23.10%
- 1Y
- 52.53%
- 3Y*
- 33.97%
- 5Y*
- 22.27%
- 10Y*
- —
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SGDM vs. AAAU - Expense Ratio Comparison
SGDM has a 0.50% expense ratio, which is higher than AAAU's 0.18% expense ratio.
Return for Risk
SGDM vs. AAAU — Risk / Return Rank
SGDM
AAAU
SGDM vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) 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.
| SGDM | AAAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.44 | 1.92 | +0.52 |
Sortino ratioReturn per unit of downside risk | 2.58 | 2.35 | +0.23 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.35 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 3.69 | 2.73 | +0.96 |
Martin ratioReturn relative to average drawdown | 13.29 | 10.02 | +3.28 |
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
| SGDM | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 1.92 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 1.27 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 1.18 | -0.89 |
Correlation
The correlation between SGDM and AAAU is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SGDM vs. AAAU - Dividend Comparison
SGDM's dividend yield for the trailing twelve months is around 0.92%, while AAAU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGDM Sprott Gold Miners ETF | 0.92% | 1.04% | 1.04% | 1.39% | 1.42% | 1.33% | 0.30% | 0.25% | 0.50% | 0.58% | 0.02% | 1.47% |
AAAU Goldman Sachs Physical 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% |
Drawdowns
SGDM vs. AAAU - Drawdown Comparison
The maximum SGDM drawdown since its inception was -54.95%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for SGDM and AAAU.
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Drawdown Indicators
| SGDM | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.95% | -21.63% | -33.32% |
Max Drawdown (1Y)Largest decline over 1 year | -30.04% | -19.13% | -10.91% |
Max Drawdown (5Y)Largest decline over 5 years | -45.06% | -20.94% | -24.12% |
Max Drawdown (10Y)Largest decline over 10 years | -49.69% | — | — |
Current DrawdownCurrent decline from peak | -17.00% | -11.65% | -5.35% |
Average DrawdownAverage peak-to-trough decline | -25.53% | -6.01% | -19.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.33% | 5.21% | +3.12% |
Volatility
SGDM vs. AAAU - Volatility Comparison
Sprott Gold Miners ETF (SGDM) has a higher volatility of 16.86% compared to Goldman Sachs Physical Gold ETF (AAAU) at 10.43%. This indicates that SGDM's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGDM | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.86% | 10.43% | +6.43% |
Volatility (6M)Calculated over the trailing 6-month period | 38.34% | 24.06% | +14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.74% | 27.50% | +18.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.29% | 17.58% | +17.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.07% | 16.92% | +20.15% |