VUSXX vs. FGDL

Last updated Jun 14, 2026

VUSXX (Vanguard Treasury Money Market Fund) and FGDL (Franklin Responsibly Sourced Gold ETF) are both funds - VUSXX is a Money Market fund actively managed by Vanguard, while FGDL is a Precious Metals fund tracking the LBMA Gold Price PM ($/ozt). VUSXX is actively managed, while FGDL is passively managed. Over the past 3 years, VUSXX returned 2.61%/yr vs 29.18%/yr for FGDL. At a 0.02 correlation, their price movements are largely independent. VUSXX charges 0.07%/yr vs 0.15%/yr for FGDL.

Performance

VUSXX vs. FGDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) and Franklin Responsibly Sourced Gold ETF (FGDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VUSXX achieves a 1.51% return, which is significantly higher than FGDL's -2.81% return.

VUSXX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.51%
• 6M: 1.84%
• 1Y: 3.98%
• 3Y*: 2.61%
• 5Y*: 1.56%
• 10Y*: —

FGDL

• 1D: -0.20%
• 1M: -9.80%
• YTD: -2.81%
• 6M: -2.54%
• 1Y: 22.12%
• 3Y*: 29.18%
• 5Y*: —
• 10Y*: —

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

VUSXX vs. FGDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VUSXX Vanguard Treasury Money Market Fund	1.51%	4.25%	1.65%	0.43%	0.00%
FGDL Franklin Responsibly Sourced Gold ETF	-2.81%	64.15%	27.31%	12.92%	0.72%

Correlation

The correlation between VUSXX and FGDL is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022	0.02

Return for Risk

VUSXX vs. FGDL — Risk / Return Rank

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

VUSXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FGDL

FGDL Risk / Return Rank: 26
FGDL Sharpe Ratio Rank: 28
FGDL Sortino Ratio Rank: 25
FGDL Omega Ratio Rank: 30
FGDL Calmar Ratio Rank: 24
FGDL Martin Ratio Rank: 24

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.

VUSXX vs. FGDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) and Franklin Responsibly Sourced Gold ETF (FGDL). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VUSXX	FGDL	Difference
Sharpe ratio: Return per unit of total volatility	3.68	0.87	+2.80
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	0.97	—
Martin ratio: Return relative to average drawdown	—	2.78	—

VUSXX vs. FGDL - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.68, which is higher than the FGDL Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of VUSXX and FGDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VUSXX vs. FGDL - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum FGDL drawdown of -24.73%. Use the drawdown chart below to compare losses from any high point for VUSXX and FGDL.

Drawdown Indicators

	VUSXX	FGDL	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-24.73%	+24.73%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-24.73%	+24.73%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-24.73%	+24.73%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	—	—
Current Drawdown Current decline from peak	0.00%	-22.35%	+22.35%
Average Drawdown Average peak-to-trough decline	0.00%	-3.97%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	8.64%	-8.64%

Volatility

VUSXX vs. FGDL - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.31%, while Franklin Responsibly Sourced Gold ETF (FGDL) has a volatility of 8.01%. This indicates that VUSXX experiences smaller price fluctuations and is considered to be less risky than FGDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUSXX	FGDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	8.01%	-7.70%
Volatility (6M) Calculated over the trailing 6-month period	0.79%	24.16%	-23.37%
Volatility (1Y) Calculated over the trailing 1-year period	1.12%	27.60%	-26.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	19.27%	-18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.74%	19.27%	-18.53%

VUSXX vs. FGDL - Expense Ratio Comparison

VUSXX has a 0.07% expense ratio, which is lower than FGDL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VUSXX vs. FGDL - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.89%, while FGDL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FGDL Franklin Responsibly Sourced Gold ETF	0.00%	0.00%	0.00%	0.00%
VUSXX Vanguard Treasury Money Market Fund	3.89%	4.15%	1.63%	0.43%

Frequently Asked Questions

Can I hold both VUSXX and FGDL in my portfolio?

VUSXX and FGDL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUSXX or FGDL?

FGDL has higher volatility (8.01%) compared to VUSXX (0.31%). In terms of maximum drawdown, VUSXX dropped 0.00% vs FGDL's -24.73%.

Which has better risk-adjusted returns?

VUSXX currently has the higher Sharpe Ratio (3.68 vs 0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.