VGK vs. GC=F

Last updated Jun 10, 2026

VGK (Vanguard FTSE Europe ETF) is Europe Equities fund tracking the FTSE Developed Europe All Cap Index, while GC=F (Gold Futures) is an asset. At a correlation of -0.07, they often move in opposite directions.

Performance

VGK vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Europe ETF (VGK) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VGK

• 1D: 0.41%
• 1M: -0.27%
• YTD: 5.60%
• 6M: 9.21%
• 1Y: 16.77%
• 3Y*: 16.40%
• 5Y*: 8.15%
• 10Y*: 9.67%

GC=F

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

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

VGK vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VGK Vanguard FTSE Europe ETF	5.60%	35.83%	1.88%	20.19%	-11.49%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.84%

Correlation

The correlation between VGK and GC=F is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	-0.07

Return for Risk

VGK vs. GC=F — Risk / Return Rank

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

VGK

VGK Risk / Return Rank: 33
VGK Sharpe Ratio Rank: 33
VGK Sortino Ratio Rank: 33
VGK Omega Ratio Rank: 32
VGK Calmar Ratio Rank: 31
VGK Martin Ratio Rank: 36

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.

VGK vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Europe ETF (VGK) 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.

	VGK	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	1.08	—	—
Sortino ratio: Return per unit of downside risk	1.59	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.39	—	—
Martin ratio: Return relative to average drawdown	5.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VGK	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	—	—

Drawdowns

Drawdown Indicators

	VGK	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-63.61%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	—	—
Current Drawdown Current decline from peak	-2.43%	—	—
Average Drawdown Average peak-to-trough decline	-13.33%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	—	—

Volatility

Volatility by Period

	VGK	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	—	—

Frequently Asked Questions

Can I hold both VGK and GC=F in my portfolio?

VGK and GC=F have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.