VOO vs. GC=F

Last updated Jun 9, 2026

VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index, while GC=F (Gold Futures) is an asset. At a correlation of -0.05, they often move in opposite directions.

Performance

VOO vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 ETF (VOO) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VOO

• 1D: 0.25%
• 1M: 0.24%
• YTD: 8.72%
• 6M: 8.77%
• 1Y: 24.91%
• 3Y*: 21.45%
• 5Y*: 13.49%
• 10Y*: 15.35%

GC=F

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

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

VOO vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VOO Vanguard S&P 500 ETF	8.72%	17.82%	24.98%	26.32%	-13.65%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.91%

Correlation

The correlation between VOO and GC=F is -0.05, 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 Feb 1, 2022	-0.05

Return for Risk

VOO vs. GC=F — Risk / Return Rank

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

VOO

VOO Risk / Return Rank: 69
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 68
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.

	VOO	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	2.08	—	—
Sortino ratio: Return per unit of downside risk	2.80	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.81	—	—
Martin ratio: Return relative to average drawdown	12.97	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VOO	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	—	—

Drawdowns

Drawdown Indicators

	VOO	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-33.99%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.99%	—	—
Current Drawdown Current decline from peak	-2.66%	—	—
Average Drawdown Average peak-to-trough decline	-3.69%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	—	—

Volatility

Volatility by Period

	VOO	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	—	—

Frequently Asked Questions

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

VOO and GC=F have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.