TRX.TO vs. GOAU

Last updated Jun 4, 2026

TRX.TO (TRX Gold Corp) is a stock, while GOAU (US Global GO GOLD and Precious Metal Miners ETF) is Materials fund tracking the U.S. Global GO GOLD and Precious Metal Miners Index. Over the past 5 years, TRX.TO returned 19.01%/yr vs 18.49%/yr for GOAU. At a 0.34 correlation, their price movements are largely independent.

Performance

TRX.TO vs. GOAU - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TRX Gold Corp (TRX.TO) and US Global GO GOLD and Precious Metal Miners ETF (GOAU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TRX.TO is traded in CAD, while GOAU is traded in USD. To make them comparable, the GOAU values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TRX.TO achieves a 16.54% return, which is significantly higher than GOAU's -2.22% return.

TRX.TO

• 1D: -5.13%
• 1M: -3.90%
• YTD: 16.54%
• 6M: 45.10%
• 1Y: 221.74%
• 3Y*: 32.24%
• 5Y*: 19.01%
• 10Y*: 9.45%

GOAU

• 1D: -3.10%
• 1M: 2.39%
• YTD: -2.22%
• 6M: 0.28%
• 1Y: 38.46%
• 3Y*: 35.01%
• 5Y*: 18.49%
• 10Y*: —

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

TRX.TO vs. GOAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRX.TO TRX Gold Corp	16.54%	188.64%	-13.73%	13.33%	-8.16%	-41.67%	6.33%	64.58%	37.14%	-41.67%
GOAU US Global GO GOLD and Precious Metal Miners ETF	-2.22%	116.28%	23.56%	8.23%	-5.37%	-10.05%	12.21%	46.59%	-4.41%	4.12%

Correlation

The correlation between TRX.TO and GOAU is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 29, 2017	0.34

Over the past year, TRX.TO and GOAU have become more correlated (0.59) than their long-term average of 0.34, meaning their price movements have been converging.

Return for Risk

TRX.TO vs. GOAU — Risk / Return Rank

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

TRX.TO

TRX.TO Risk / Return Rank: 89
TRX.TO Sharpe Ratio Rank: 92
TRX.TO Sortino Ratio Rank: 89
TRX.TO Omega Ratio Rank: 88
TRX.TO Calmar Ratio Rank: 89
TRX.TO Martin Ratio Rank: 87

GOAU

GOAU Risk / Return Rank: 24
GOAU Sharpe Ratio Rank: 23
GOAU Sortino Ratio Rank: 23
GOAU Omega Ratio Rank: 25
GOAU Calmar Ratio Rank: 25
GOAU Martin Ratio Rank: 23

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.

TRX.TO vs. GOAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TRX Gold Corp (TRX.TO) and US Global GO GOLD and Precious Metal Miners ETF (GOAU). 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.

	TRX.TO	GOAU	Difference
Sharpe ratio: Return per unit of total volatility	2.52	0.87	+1.66
Sortino ratio: Return per unit of downside risk	3.07	1.29	+1.78
Omega ratio: Gain probability vs. loss probability	1.40	1.18	+0.22
Calmar ratio: Return relative to maximum drawdown	4.48	1.26	+3.22
Martin ratio: Return relative to average drawdown	10.11	3.13	+6.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRX.TO vs. GOAU - Sharpe Ratio Comparison

The current TRX.TO Sharpe Ratio is 2.52, which is higher than the GOAU Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of TRX.TO and GOAU, 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

	TRX.TO	GOAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	0.87	+1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.55	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.50	-0.48

Drawdowns

TRX.TO vs. GOAU - Drawdown Comparison

The maximum TRX.TO drawdown since its inception was -97.16%, which is greater than GOAU's maximum drawdown of -53.85%. Use the drawdown chart below to compare losses from any high point for TRX.TO and GOAU.

Drawdown Indicators

	TRX.TO	GOAU	Difference
Max Drawdown Largest peak-to-trough decline	-97.16%	-53.85%	-43.31%
Max Drawdown (1Y) Largest decline over 1 year	-49.83%	-30.76%	-19.07%
Max Drawdown (3Y) Largest decline over 3 years	-49.83%	-30.76%	-19.07%
Max Drawdown (5Y) Largest decline over 5 years	-53.75%	-43.74%	-10.01%
Max Drawdown (10Y) Largest decline over 10 years	-83.07%	—	—
Current Drawdown Current decline from peak	-84.97%	-25.55%	-59.42%
Average Drawdown Average peak-to-trough decline	-67.11%	-18.09%	-49.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.03%	12.33%	+9.70%

Volatility

TRX.TO vs. GOAU - Volatility Comparison

TRX Gold Corp (TRX.TO) has a higher volatility of 18.53% compared to US Global GO GOLD and Precious Metal Miners ETF (GOAU) at 14.20%. This indicates that TRX.TO's price experiences larger fluctuations and is considered to be riskier than GOAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRX.TO	GOAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.53%	14.20%	+4.33%
Volatility (6M) Calculated over the trailing 6-month period	71.69%	36.14%	+35.55%
Volatility (1Y) Calculated over the trailing 1-year period	88.46%	44.45%	+44.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.57%	33.75%	+30.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.98%	33.41%	+41.57%

Dividends

TRX.TO vs. GOAU - Dividend Comparison

TRX.TO has not paid dividends to shareholders, while GOAU's dividend yield for the trailing twelve months is around 0.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GOAU US Global GO GOLD and Precious Metal Miners ETF	0.97%	0.94%	2.11%	0.99%	1.55%	1.28%	0.74%	0.16%	0.47%	0.27%
TRX.TO TRX Gold Corp	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRX.TO and GOAU in my portfolio?

TRX.TO and GOAU have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.