XAUUSD=X vs. GC=F

Last updated Apr 3, 2026

Compare and contrast key facts about Gold Spot Price US Dollar (XAUUSD=X) and Gold (GC=F).

Performance

XAUUSD=X vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gold Spot Price US Dollar (XAUUSD=X) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

XAUUSD=X vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XAUUSD=X Gold Spot Price US Dollar	8.19%	64.75%	27.24%	13.14%	-0.25%	-3.50%	24.55%	18.77%	-1.71%	13.14%
GC=F Gold	8.72%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%

Returns By Period

In the year-to-date period, XAUUSD=X achieves a 8.19% return, which is significantly lower than GC=F's 8.72% return. Both investments have delivered pretty close results over the past 10 years, with XAUUSD=X having a 14.43% annualized return and GC=F not far ahead at 14.46%.

XAUUSD=X

• 1D: -1.71%
• 1M: -8.10%
• YTD: 8.19%
• 6M: 21.27%
• 1Y: 49.22%
• 3Y*: 33.08%
• 5Y*: 21.93%
• 10Y*: 14.43%

GC=F

• 1D: -1.68%
• 1M: -7.92%
• YTD: 8.72%
• 6M: 22.48%
• 1Y: 49.77%
• 3Y*: 33.33%
• 5Y*: 22.19%
• 10Y*: 14.46%

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

Return for Risk

XAUUSD=X vs. GC=F — Risk / Return Rank

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

XAUUSD=X

XAUUSD=X Risk / Return Rank: 89
XAUUSD=X Sharpe Ratio Rank: 93
XAUUSD=X Sortino Ratio Rank: 91
XAUUSD=X Omega Ratio Rank: 91
XAUUSD=X Calmar Ratio Rank: 84
XAUUSD=X Martin Ratio Rank: 87

GC=F

GC=F Risk / Return Rank: 82
GC=F Sharpe Ratio Rank: 83
GC=F Sortino Ratio Rank: 89
GC=F Omega Ratio Rank: 77
GC=F Calmar Ratio Rank: 69
GC=F Martin Ratio Rank: 90

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.

XAUUSD=X vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold Spot Price US Dollar (XAUUSD=X) and Gold (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.

	XAUUSD=X	GC=F	Difference
Sharpe ratio Return per unit of total volatility	1.61	1.72	-0.11
Sortino ratio Return per unit of downside risk	2.08	2.13	-0.06
Omega ratio Gain probability vs. loss probability	1.31	1.32	-0.02
Calmar ratio Return relative to maximum drawdown	1.93	2.64	-0.70
Martin ratio Return relative to average drawdown	6.72	9.67	-2.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAUUSD=X vs. GC=F - Sharpe Ratio Comparison

The current XAUUSD=X Sharpe Ratio is 1.61, which is comparable to the GC=F Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of XAUUSD=X and GC=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XAUUSD=X	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.72	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	1.23	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.88	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.64	-0.04

Correlation

The correlation between XAUUSD=X and GC=F is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

XAUUSD=X vs. GC=F - Drawdown Comparison

The maximum XAUUSD=X drawdown since its inception was -44.69%, roughly equal to the maximum GC=F drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for XAUUSD=X and GC=F.

Drawdown Indicators

	XAUUSD=X	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-44.69%	-44.36%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	-17.73%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-20.81%	-20.43%	-0.38%
Max Drawdown (10Y) Largest decline over 10 years	-21.35%	-20.87%	-0.48%
Current Drawdown Current decline from peak	-13.69%	-11.58%	-2.11%
Average Drawdown Average peak-to-trough decline	-16.32%	-13.03%	-3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.67%	4.83%	+0.84%

Volatility

XAUUSD=X vs. GC=F - Volatility Comparison

The current volatility for Gold Spot Price US Dollar (XAUUSD=X) is 9.69%, while Gold (GC=F) has a volatility of 11.34%. This indicates that XAUUSD=X 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

	XAUUSD=X	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	11.34%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	21.25%	24.65%	-3.40%
Volatility (1Y) Calculated over the trailing 1-year period	23.73%	27.83%	-4.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	17.97%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	16.37%	-1.33%