TRET.AS vs. GC=F

Last updated Jun 4, 2026

TRET.AS (VanEck Global Real Estate UCITS ETF) is REIT fund tracking the FTSE EPRA Nareit Global TR USD, while GC=F (Gold Futures) is an asset. Over the past 10 years, TRET.AS returned 3.57%/yr vs 13.42%/yr for GC=F. At a 0.09 correlation, their price movements are largely independent.

Performance

TRET.AS vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.AS) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TRET.AS is traded in EUR, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, TRET.AS achieves a 5.12% return, which is significantly higher than GC=F's 4.41% return. Over the past 10 years, TRET.AS has underperformed GC=F with an annualized return of 3.57%, while GC=F has yielded a comparatively higher 13.42% annualized return.

TRET.AS

• 1D: 0.49%
• 1M: -2.14%
• YTD: 5.12%
• 6M: 3.98%
• 1Y: 8.27%
• 3Y*: 7.75%
• 5Y*: 3.23%
• 10Y*: 3.57%

GC=F

• 1D: -0.37%
• 1M: -0.55%
• YTD: 4.41%
• 6M: 6.86%
• 1Y: 30.55%
• 3Y*: 28.24%
• 5Y*: 19.87%
• 10Y*: 13.42%

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

TRET.AS vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRET.AS VanEck Global Real Estate UCITS ETF	5.12%	1.05%	8.21%	9.09%	-21.18%	40.50%	-14.55%	21.60%	0.17%	-3.69%
GC=F Gold Futures	4.41%	45.00%	35.90%	9.94%	5.74%	3.76%	14.32%	21.55%	2.45%	-0.37%

Correlation

The correlation between TRET.AS and GC=F is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 10, 2011	0.09

Return for Risk

TRET.AS vs. GC=F — Risk / Return Rank

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

TRET.AS

TRET.AS Risk / Return Rank: 21
TRET.AS Sharpe Ratio Rank: 20
TRET.AS Sortino Ratio Rank: 20
TRET.AS Omega Ratio Rank: 19
TRET.AS Calmar Ratio Rank: 22
TRET.AS Martin Ratio Rank: 24

GC=F

GC=F Risk / Return Rank: 52
GC=F Sharpe Ratio Rank: 50
GC=F Sortino Ratio Rank: 49
GC=F Omega Ratio Rank: 47
GC=F Calmar Ratio Rank: 52
GC=F Martin Ratio Rank: 60

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.

TRET.AS vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.AS) and Gold Futures (GC=F). 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.

	TRET.AS	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	0.69	1.16	-0.46
Sortino ratio: Return per unit of downside risk	1.03	1.55	-0.52
Omega ratio: Gain probability vs. loss probability	1.12	1.24	-0.12
Calmar ratio: Return relative to maximum drawdown	1.01	1.81	-0.80
Martin ratio: Return relative to average drawdown	3.28	4.46	-1.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRET.AS vs. GC=F - Sharpe Ratio Comparison

The current TRET.AS Sharpe Ratio is 0.69, which is lower than the GC=F Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of TRET.AS and GC=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRET.AS	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	1.16	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	1.14	-0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.85	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.64	-0.64

Drawdowns

TRET.AS vs. GC=F - Drawdown Comparison

The maximum TRET.AS drawdown since its inception was -99.19%, which is greater than GC=F's maximum drawdown of -36.91%. Use the drawdown chart below to compare losses from any high point for TRET.AS and GC=F.

Drawdown Indicators

	TRET.AS	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-99.19%	-36.91%	-62.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-16.35%	+8.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.23%	-16.35%	-0.88%
Max Drawdown (5Y) Largest decline over 5 years	-30.50%	-16.35%	-14.15%
Max Drawdown (10Y) Largest decline over 10 years	-41.80%	-18.00%	-23.80%
Current Drawdown Current decline from peak	-97.59%	-15.11%	-82.48%
Average Drawdown Average peak-to-trough decline	-96.63%	-11.40%	-85.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	6.72%	-4.21%

Volatility

TRET.AS vs. GC=F - Volatility Comparison

The current volatility for VanEck Global Real Estate UCITS ETF (TRET.AS) is 3.81%, while Gold Futures (GC=F) has a volatility of 4.60%. This indicates that TRET.AS experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRET.AS	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	4.60%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	22.30%	-13.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	25.61%	-13.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	17.40%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	15.86%	+0.39%

Frequently Asked Questions

Can I hold both TRET.AS and GC=F in my portfolio?

TRET.AS and GC=F have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.