TGS vs. AAAU

Last updated Apr 2, 2026

Compare and contrast key facts about Transportadora de Gas del Sur S.A. (TGS) 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

TGS vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transportadora de Gas del Sur S.A. (TGS) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

TGS vs. AAAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TGS Transportadora de Gas del Sur S.A.	11.23%	6.22%	93.97%	27.88%	165.77%	-14.62%	-27.48%	-45.44%	12.38%
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, TGS achieves a 11.23% return, which is significantly higher than AAAU's 10.48% return.

TGS

• 1D: -0.09%
• 1M: 16.35%
• YTD: 11.23%
• 6M: 70.01%
• 1Y: 27.23%
• 3Y*: 50.03%
• 5Y*: 48.00%
• 10Y*: 20.73%

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

TGS vs. AAAU — Risk / Return Rank

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

TGS

TGS Risk / Return Rank: 58
TGS Sharpe Ratio Rank: 56
TGS Sortino Ratio Rank: 59
TGS Omega Ratio Rank: 57
TGS Calmar Ratio Rank: 59
TGS Martin Ratio Rank: 60

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.

TGS vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transportadora de Gas del Sur S.A. (TGS) 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.

	TGS	AAAU	Difference
Sharpe ratio Return per unit of total volatility	0.43	1.92	-1.49
Sortino ratio Return per unit of downside risk	1.18	2.35	-1.17
Omega ratio Gain probability vs. loss probability	1.15	1.35	-0.20
Calmar ratio Return relative to maximum drawdown	0.83	2.73	-1.90
Martin ratio Return relative to average drawdown	2.05	10.02	-7.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGS vs. AAAU - Sharpe Ratio Comparison

The current TGS Sharpe Ratio is 0.43, which is lower than the AAAU Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of TGS and AAAU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TGS	AAAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	1.92	-1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	1.27	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.18	-0.95

Correlation

The correlation between TGS and AAAU is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TGS vs. AAAU - Dividend Comparison

Neither TGS nor AAAU has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TGS Transportadora de Gas del Sur S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.46%	5.04%	0.00%	0.34%
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%

Drawdowns

TGS vs. AAAU - Drawdown Comparison

The maximum TGS drawdown since its inception was -95.49%, which is greater than AAAU's maximum drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for TGS and AAAU.

Drawdown Indicators

	TGS	AAAU	Difference
Max Drawdown Largest peak-to-trough decline	-95.49%	-21.63%	-73.86%
Max Drawdown (1Y) Largest decline over 1 year	-36.89%	-19.13%	-17.76%
Max Drawdown (5Y) Largest decline over 5 years	-39.49%	-20.94%	-18.55%
Max Drawdown (10Y) Largest decline over 10 years	-80.55%	—	—
Current Drawdown Current decline from peak	-0.29%	-11.65%	+11.36%
Average Drawdown Average peak-to-trough decline	-47.26%	-6.01%	-41.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.00%	5.21%	+9.79%

Volatility

TGS vs. AAAU - Volatility Comparison

The current volatility for Transportadora de Gas del Sur S.A. (TGS) is 8.74%, while Goldman Sachs Physical Gold ETF (AAAU) has a volatility of 10.43%. This indicates that TGS experiences smaller price fluctuations and is considered to be less risky than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGS	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	10.43%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	41.75%	24.06%	+17.69%
Volatility (1Y) Calculated over the trailing 1-year period	63.48%	27.50%	+35.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.49%	17.58%	+37.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.16%	16.92%	+37.24%