XGDU.L vs. AAAU

Last updated Jun 5, 2026

XGDU.L (Xtrackers IE Physical Gold ETC Securities) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - XGDU.L is a Precious Metals fund tracking the Gold, while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, XGDU.L returned 18.61%/yr vs 18.60%/yr for AAAU. A 0.79 correlation means they provide meaningful diversification when combined. XGDU.L charges 0.12%/yr vs 0.18%/yr for AAAU.

Performance

XGDU.L vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers IE Physical Gold ETC Securities (XGDU.L) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XGDU.L having a 3.77% return and AAAU slightly higher at 3.83%.

XGDU.L

• 1D: 0.58%
• 1M: -2.38%
• YTD: 3.77%
• 6M: 5.98%
• 1Y: 32.35%
• 3Y*: 31.54%
• 5Y*: 18.61%
• 10Y*: —

AAAU

• 1D: 0.87%
• 1M: -1.63%
• YTD: 3.83%
• 6M: 6.34%
• 1Y: 32.55%
• 3Y*: 31.47%
• 5Y*: 18.60%
• 10Y*: —

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

XGDU.L vs. AAAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XGDU.L Xtrackers IE Physical Gold ETC Securities	3.77%	64.71%	26.20%	13.45%	0.32%	-3.91%	9.83%
AAAU Goldman Sachs Physical Gold ETF	3.83%	64.06%	26.91%	12.96%	-0.50%	-4.01%	10.57%

Correlation

The correlation between XGDU.L and AAAU is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 28, 2020	0.79

The correlation between XGDU.L and AAAU has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

Return for Risk

XGDU.L vs. AAAU — Risk / Return Rank

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

XGDU.L

XGDU.L Risk / Return Rank: 36
XGDU.L Sharpe Ratio Rank: 37
XGDU.L Sortino Ratio Rank: 33
XGDU.L Omega Ratio Rank: 39
XGDU.L Calmar Ratio Rank: 38
XGDU.L Martin Ratio Rank: 32

AAAU

AAAU Risk / Return Rank: 34
AAAU Sharpe Ratio Rank: 36
AAAU Sortino Ratio Rank: 31
AAAU Omega Ratio Rank: 39
AAAU Calmar Ratio Rank: 35
AAAU Martin Ratio Rank: 30

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.

XGDU.L vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Gold ETC Securities (XGDU.L) and Goldman Sachs Physical Gold ETF (AAAU). 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.

	XGDU.L	AAAU	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.24	+0.05
Sortino ratio: Return per unit of downside risk	1.73	1.64	+0.09
Omega ratio: Gain probability vs. loss probability	1.25	1.25	0.00
Calmar ratio: Return relative to maximum drawdown	1.84	1.71	+0.13
Martin ratio: Return relative to average drawdown	4.73	4.21	+0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGDU.L vs. AAAU - Sharpe Ratio Comparison

The current XGDU.L Sharpe Ratio is 1.30, which is comparable to the AAAU Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of XGDU.L and AAAU, 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

	XGDU.L	AAAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.24	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	1.05	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.09	-0.09

Drawdowns

XGDU.L vs. AAAU - Drawdown Comparison

The maximum XGDU.L drawdown since its inception was -21.59%, roughly equal to the maximum AAAU drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for XGDU.L and AAAU.

Drawdown Indicators

	XGDU.L	AAAU	Difference
Max Drawdown Largest peak-to-trough decline	-21.59%	-21.63%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-17.47%	-19.13%	+1.66%
Max Drawdown (3Y) Largest decline over 3 years	-17.47%	-19.13%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-21.00%	-20.94%	-0.06%
Current Drawdown Current decline from peak	-15.82%	-16.97%	+1.15%
Average Drawdown Average peak-to-trough decline	-7.31%	-6.19%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.82%	7.76%	-0.94%

Volatility

XGDU.L vs. AAAU - Volatility Comparison

Xtrackers IE Physical Gold ETC Securities (XGDU.L) has a higher volatility of 6.39% compared to Goldman Sachs Physical Gold ETF (AAAU) at 5.51%. This indicates that XGDU.L's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGDU.L	AAAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	5.51%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	21.85%	22.94%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	24.87%	26.33%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	17.83%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.31%	16.99%	+0.32%

XGDU.L vs. AAAU - Expense Ratio Comparison

XGDU.L has a 0.12% expense ratio, which is lower than AAAU's 0.18% 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

XGDU.L vs. AAAU - Dividend Comparison

Neither XGDU.L nor AAAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XGDU.L and AAAU in my portfolio?

XGDU.L and AAAU have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XGDU.L or AAAU?

On fees, XGDU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XGDU.L or AAAU?

XGDU.L is cheaper with a 0.12% expense ratio, compared with 0.18% for AAAU.

What is the main difference between XGDU.L and AAAU?

XGDU.L is categorized as Precious Metals, while AAAU is Gold. XGDU.L tracks Gold, while AAAU tracks LBMA Gold PM Price. They also come from different issuers: Xtrackers and Goldman Sachs. Their fees differ too: 0.12% for XGDU.L and 0.18% for AAAU.