GTO vs OUNZ

Comparison between INVESCO TOTAL RETURN BOND ETF (GTO, ETF) and VanEck Merk Gold Trust (OUNZ, ETF).

5-Year PerformanceOUNZ has outperformed GTO, delivering a return of +19.0% compared to -0.2%

GTO vs OUNZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GTO(ETF)	OUNZ(ETF)
Net Assets	$2.40B	$2.50B
Expense Ratio	0.35%	0.25%
Max Drawdown	25.87%	26.31%
Sharpe Ratio	-0.20	0.81
5Y Beta	0.06	0.22
5Y Dividends CAGR	1.95%	N/A

Net Assets

GTO

$2.40B

Winner

OUNZ

$2.50B

Expense Ratio

GTO

0.35%

Winner

OUNZ

0.25%

Max Drawdown

Winner

GTO

25.87%

OUNZ

26.31%

Sharpe Ratio

GTO

-0.20

Winner

OUNZ

0.81

5Y Beta

Winner

GTO

0.06

OUNZ

0.22

5Y Dividends CAGR

GTO

1.95%

OUNZ

N/A

GTO vs OUNZ - Historical Returns

Returns include dividend reinvestment.

Period	GTO	OUNZ
1 month	-0.85%	+2.02%
3 months	-0.59%	-9.55%
6 months	-0.50%	-14.35%
1 year	+3.12%	+25.67%
5 years(CAGR)	-0.24%	+18.98%
10 years(CAGR)	+2.60%	+11.91%
Max(CAGR)	+2.99%	+9.86%

GTO

-0.85%

Winner

OUNZ

+2.02%

Winner

GTO

-0.59%

OUNZ

-9.55%

Winner

GTO

-0.50%

OUNZ

-14.35%

GTO

+3.12%

Winner

OUNZ

+25.67%

5Y(CAGR)

GTO

-0.24%

Winner

OUNZ

+18.98%

10Y(CAGR)

GTO

+2.60%

Winner

OUNZ

+11.91%

Max(CAGR)

GTO

+2.99%

Winner

OUNZ

+9.86%

GTO vs OUNZ - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	GTO	OUNZ
2026	+0.25%	-2.04%
2025	+7.08%	+61.59%
2024	+3.00%	+27.01%
2023	+5.50%	+11.98%
2022	-14.06%	+0.97%
2021	-0.44%	-6.17%
2020	+10.58%	+23.96%
2019	+11.26%	+17.90%
2018	-0.02%	-3.19%
2017	+7.33%	+12.03%
2016	+3.62%	+6.65%
2015	N/A	-11.15%
2014	N/A	-8.73%

GTO vs OUNZ Drawdown Comparison

The maximum drawdown for GTO was -20.60%, occurring on Oct 24, 2022. This drawdown has not yet recovered.

The maximum drawdown for OUNZ was -26.31%, occurring on Jul 16, 2026. This drawdown has not yet recovered.

The current GTO drawdown is -2.06%. The current OUNZ drawdown is -21.31%.

Rank	GTO	OUNZ
#1	-20.60% Sep 14, 2021 - Oct 24, 2022	-26.31% Jan 29, 2026 - Jul 16, 2026
#2	-11.26% Mar 6, 2020 - Jun 4, 2020	-21.77% Jul 11, 2014 - Jul 5, 2016
#3	-5.38% Feb 16, 2016 - Jul 25, 2016	-21.76% Aug 6, 2020 - Mar 1, 2024
#4	-3.61% Sep 6, 2016 - Apr 12, 2017	-17.58% Jul 8, 2016 - Jun 20, 2019
#5	-3.57% Aug 22, 2018 - Jan 24, 2019	-12.51% Mar 9, 2020 - Apr 9, 2020
#6	-2.96% Jan 4, 2021 - Jul 6, 2021	-10.10% Oct 20, 2025 - Dec 22, 2025
#7	-2.35% Sep 4, 2019 - Oct 4, 2019	-8.10% Oct 30, 2024 - Jan 30, 2025
#8	-2.06% Dec 15, 2017 - Jul 19, 2018	-7.12% Apr 21, 2025 - Jun 13, 2025
#9	-1.48% Oct 4, 2019 - Dec 3, 2019	-6.57% Sep 4, 2019 - Jan 6, 2020
#10	-1.34% Aug 6, 2020 - Nov 19, 2020	-5.75% May 20, 2024 - Jul 16, 2024
#11	-0.99% Jun 26, 2017 - Aug 3, 2017	-4.93% Dec 26, 2025 - Jan 12, 2026
#12	-0.78% Aug 4, 2021 - Sep 14, 2021	-4.91% Feb 24, 2020 - Mar 5, 2020
#13	-0.77% Jul 19, 2018 - Aug 10, 2018	-4.84% Mar 31, 2025 - Apr 10, 2025
#14	-0.73% Jul 3, 2019 - Aug 1, 2019	-4.84% Jun 13, 2025 - Aug 29, 2025
#15	-0.67% Mar 27, 2019 - Apr 26, 2019	-4.38% Jul 16, 2024 - Aug 12, 2024