OUNZ vs MUNI

Comparison between VanEck Merk Gold Trust (OUNZ, ETF) and PIMCO INTERMEDIATE MUNICIPAL BOND ACTIVE EXCHANGE-TRADED FUND (MUNI, ETF).

5-Year PerformanceOUNZ has outperformed MUNI, delivering a return of +20.6% compared to +1.3%

OUNZ vs MUNI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	OUNZ(ETF)	MUNI(ETF)
Net Assets	$2.80B	$2.80B
Expense Ratio	0.25%	0.35%
Max Drawdown	21.77%	13.40%
Sharpe Ratio	1.25	0.95
5Y Beta	0.18	0.05
5Y Dividends CAGR	N/A	12.82%

Net Assets

OUNZ

$2.80B

MUNI

$2.80B

Expense Ratio

Winner

OUNZ

0.25%

MUNI

0.35%

Max Drawdown

OUNZ

21.77%

Winner

MUNI

13.40%

Sharpe Ratio

Winner

OUNZ

1.25

MUNI

0.95

5Y Beta

OUNZ

0.18

Winner

MUNI

0.05

5Y Dividends CAGR

OUNZ

N/A

MUNI

12.82%

OUNZ vs MUNI - Historical Returns

Returns include dividend reinvestment.

Period	OUNZ	MUNI
1 month	-0.18%	+0.54%
3 months	-7.06%	-0.23%
6 months	+17.85%	+1.38%
1 year	+42.64%	+6.07%
5 years(CAGR)	+20.56%	+1.31%
10 years(CAGR)	+13.75%	+2.16%
Max(CAGR)	+11.05%	+2.75%

OUNZ

-0.18%

Winner

MUNI

+0.54%

OUNZ

-7.06%

Winner

MUNI

-0.23%

Winner

OUNZ

+17.85%

MUNI

+1.38%

Winner

OUNZ

+42.64%

MUNI

+6.07%

5Y(CAGR)

Winner

OUNZ

+20.56%

MUNI

+1.31%

10Y(CAGR)

Winner

OUNZ

+13.75%

MUNI

+2.16%

Max(CAGR)

Winner

OUNZ

+11.05%

MUNI

+2.75%

OUNZ vs MUNI - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	OUNZ	MUNI
2026	+9.00%	+1.01%
2025	+61.59%	+4.61%
2024	+27.01%	+1.60%
2023	+11.98%	+5.98%
2022	+0.97%	-6.69%
2021	-6.17%	+0.64%
2020	+23.96%	+4.77%
2019	+17.90%	+6.95%
2018	-3.19%	+1.10%
2017	+12.03%	+4.72%
2016	+6.65%	-0.48%
2015	-11.15%	+2.66%
2014	-8.73%	+5.58%
2013	N/A	-2.51%
2012	N/A	+4.73%
2011	N/A	+8.18%
2010	N/A	+3.95%
2009	N/A	-0.37%

OUNZ vs MUNI Drawdown Comparison

The maximum drawdown for OUNZ was -21.77%, occurring on Dec 17, 2015. Recovery took 499 trading sessions.

The maximum drawdown for MUNI was -11.15%, occurring on Oct 25, 2022. Recovery took 766 trading sessions.

The current OUNZ drawdown is -12.45%. The current MUNI drawdown is -0.94%.

Rank	OUNZ	MUNI
#1	-21.77% Jul 11, 2014 - Jul 5, 2016	-11.15% Jul 19, 2021 - Aug 5, 2024
#2	-21.76% Aug 6, 2020 - Mar 1, 2024	-10.81% Mar 9, 2020 - Jul 16, 2020
#3	-19.14% Jan 29, 2026 - Mar 26, 2026	-6.25% May 2, 2013 - Aug 11, 2014
#4	-17.58% Jul 8, 2016 - Jun 20, 2019	-5.09% Aug 23, 2016 - Aug 14, 2017
#5	-12.51% Mar 9, 2020 - Apr 9, 2020	-4.13% Aug 31, 2010 - May 18, 2011
#6	-10.10% Oct 20, 2025 - Dec 22, 2025	-3.67% Feb 28, 2025 - Sep 5, 2025
#7	-8.10% Oct 30, 2024 - Jan 30, 2025	-2.70% Jan 30, 2015 - Dec 1, 2015
#8	-7.12% Apr 21, 2025 - Jun 13, 2025	-2.29% Feb 27, 2026 - Mar 26, 2026
#9	-6.57% Sep 4, 2019 - Jan 6, 2020	-2.27% Oct 2, 2024 - Dec 6, 2024
#10	-5.75% May 20, 2024 - Jul 16, 2024	-2.26% Dec 6, 2024 - Feb 26, 2025
#11	-4.93% Dec 26, 2025 - Jan 12, 2026	-2.25% Sep 22, 2011 - Dec 6, 2011
#12	-4.91% Feb 24, 2020 - Mar 5, 2020	-1.99% Dec 5, 2012 - May 1, 2013
#13	-4.84% Mar 31, 2025 - Apr 10, 2025	-1.80% Sep 8, 2017 - Aug 15, 2018
#14	-4.84% Jun 13, 2025 - Aug 29, 2025	-1.73% Feb 11, 2021 - Jun 9, 2021
#15	-4.38% Jul 16, 2024 - Aug 12, 2024	-1.66% Mar 12, 2010 - May 21, 2010