AAAUvsOUNZETF Comparison
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Goldman Sachs Physical Gold ETF (AAAU) and VanEck Merk Gold Trust ETF (OUNZ) belong to the same industry segment: Gold. AAAU is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.25% for OUNZ. AAAU is down -6.68% year-to-date (YTD) with +$217M in YTD flows. OUNZ performs better with -5.82% YTD performance, and +$364M in YTD flows. Run a side-by-side ETF comparison of AAAU and OUNZ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AAAU vs OUNZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AAAU OUNZ | -3.31%-1.30% | +0.59%+1.03% | -6.68%-5.82% | +0.31%+2.53% | +100.48%+102.47% | +125.56%+122.90% |
| Flows | AAAU OUNZ | -$35M+$8M | +$146M+$107M | +$217M+$364M | +$347M+$363M | +$1.24B+$951M | +$1.36B+$1.07B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AAAU OUNZ | +21.15%+23.45% | +27.02%+28.12% | +20.37%+21.39% | +18.06%+18.74% |
| Max drawdown | AAAU OUNZ | -13.97%-14.30% | -26.18%-26.36% | -26.18%-26.36% | -26.18%-26.36% |
| Max drawdown duration | AAAU OUNZ | 66d64d | 273d272d | 273d272d | 273d272d |
Trading data
AAAU | OUNZ | |
Last sale 10/29/2026 at 1:30 PM | $39.62 | $38.63 |
| Previous close 10/29/2026 | $40.15 | $39.14 |
| Consolidated volume 10/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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AAAU | OUNZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
AAAU | OUNZ | |
|---|---|---|
| Last price | $39.62 | $38.63 |
| 1D performance | -1.32% | -1.30% |
| AuM | $2.55 B | $2.63 B |
| E/R | 0.18% | 0.25% |
Characteristics
AAAU | OUNZ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Goldman Sachs | VanEck |
| Benchmark | LBMA London Gold Market Fixing Price PM Index | Solactive Gold Spot Index |
| N° of holdings | - | - |
| Asset class | Commodities | Commodities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 26, 2018 | May 16, 2014 |
| ESG | No | No |
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Exposure
Countries
AAAU
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OUNZ
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Sectors
AAAU
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OUNZ
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Diversification
AAAU
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OUNZ
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Top 15 holdings
Data as of January 1, 1970
AAAU
Data will be available soon
OUNZ
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Frequently asked questions about AAAU and OUNZ
How have the AAAU and OUNZ ETFs performed in 2026?
As of October 29, 2026, AAAU is down -6.68% year-to-date (YTD), while OUNZ has lost -5.82%. That puts OUNZ better performer ahead so far this year.
Which ETF is attracting more investor money: AAAU or OUNZ?
Year-to-date, the AAAU ETF saw +$217M in flows, compared to +$364M for OUNZ.
Which ETF is more volatile: AAAU or OUNZ?
Over the past year, AAAU had a volatility of 27.02%, while OUNZ experienced 28.12%.
Which ETF is bigger: AAAU or OUNZ?
As of October 29, 2026, AAAU holds $2.55 B in assets under management (AUM), while OUNZ manages $2.63 B.
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Latest news about AAAU & OUNZ
Hedging the Hedge: Can Gold Itself Be Protected?
September 26, 2025
OUNZ
Gold Price Hits Record High Amid Geopolitical Tensions and Anticipation of Monetary Easing
March 11, 2024
AAAU
ETFs Backed by Physical Gold Continue to Experience Inflows in May
May 15, 2023
AAAU
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