OUNZ vs SPY
Comparison between VanEck Merk Gold Trust (OUNZ, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceOUNZ has outperformed SPY, delivering a return of +20.6% compared to +13.3%
OUNZ vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
OUNZ
$2.80B
Winner
SPY
$652B
Expense Ratio
OUNZ
0.25%
Winner
SPY
0.09%
Max Drawdown
Winner
OUNZ
21.77%
SPY
56.47%
Sharpe Ratio
OUNZ
1.25
Winner
SPY
2.07
5Y Beta
Winner
OUNZ
0.18
SPY
1.00
P/E Ratio
OUNZ
N/A
SPY
28.24
Forward P/E
OUNZ
N/A
SPY
21.85
5Y Dividends CAGR
OUNZ
N/A
SPY
5.43%
5Y EPS CAGR
OUNZ
N/A
SPY
25.79%
Debt to Equity
OUNZ
N/A
SPY
22.35%
P/S Ratio
OUNZ
N/A
SPY
3.55
P/B Ratio
OUNZ
N/A
SPY
5.29
OUNZ vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
OUNZ
-0.18%
Winner
SPY
+9.11%
3M
OUNZ
-7.06%
Winner
SPY
+6.59%
6M
Winner
OUNZ
+17.85%
SPY
+10.56%
1Y
Winner
OUNZ
+42.64%
SPY
+32.04%
5Y(CAGR)
Winner
OUNZ
+20.56%
SPY
+13.35%
10Y(CAGR)
OUNZ
+13.75%
Winner
SPY
+15.49%
Max(CAGR)
Winner
OUNZ
+11.05%
SPY
+8.50%
OUNZ vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | OUNZ | SPY |
|---|---|---|
| 2026 | +9.00% | +8.27% |
| 2025 | +61.59% | +18.00% |
| 2024 | +27.01% | +25.59% |
| 2023 | +11.98% | +26.72% |
| 2022 | +0.97% | -18.64% |
| 2021 | -6.17% | +30.52% |
| 2020 | +23.96% | +17.28% |
| 2019 | +17.90% | +31.09% |
| 2018 | -3.19% | -5.24% |
| 2017 | +12.03% | +20.78% |
| 2016 | +6.65% | +13.59% |
| 2015 | -11.15% | +1.31% |
| 2014 | -8.73% | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
OUNZ vs SPY Drawdown Comparison
The maximum drawdown for OUNZ was -21.77%, occurring on Dec 17, 2015. Recovery took 499 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current OUNZ drawdown is -12.45%.
| Rank | OUNZ | SPY |
|---|---|---|
| #1 | -21.77% Jul 11, 2014 - Jul 5, 2016 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -21.76% Aug 6, 2020 - Mar 1, 2024 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -19.14% Jan 29, 2026 - Mar 26, 2026 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -17.58% Jul 8, 2016 - Jun 20, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -12.51% Mar 9, 2020 - Apr 9, 2020 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -10.10% Oct 20, 2025 - Dec 22, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -8.10% Oct 30, 2024 - Jan 30, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -7.12% Apr 21, 2025 - Jun 13, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -6.57% Sep 4, 2019 - Jan 6, 2020 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.75% May 20, 2024 - Jul 16, 2024 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -4.93% Dec 26, 2025 - Jan 12, 2026 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -4.91% Feb 24, 2020 - Mar 5, 2020 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.84% Mar 31, 2025 - Apr 10, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.84% Jun 13, 2025 - Aug 29, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.38% Jul 16, 2024 - Aug 12, 2024 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between OUNZ and SPY is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.
0.91
-101
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