Goldman Sachs Physical Gold ETF

10-Year Study

AAAU.US · · US · ETF

Executive Summary: Goldman Sachs Physical Gold ETF has compounded at 19.6% annually over the last 10 years, with a maximum drawdown of 17.7% and an annualized volatility of 14.3%.

1Y CAGR
+50.2%
3Y CAGR
+35.5%
5Y CAGR
+20.4%
10Y CAGR
+19.6%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
17.7%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
1.07
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
2.07
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
15.3%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +64.0%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2021 · -4.0%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
75%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
202612.58.5-11.02.3————————11.1%
20256.72.09.45.4-0.00.4-0.65.011.83.65.42.264.0%
2024-1.40.48.63.11.6-0.15.32.15.14.3-3.2-1.427.0%
20235.7-5.37.90.9-1.3-2.22.3-1.2-4.87.42.51.312.9%
2022-1.66.11.3-2.0-3.2-1.6-2.5-3.0-2.8-1.88.43.0-0.5%
2021-3.1-6.3-1.23.67.7-7.12.60.0-3.31.5-0.73.2-4.0%
20204.5-0.6-0.17.12.63.010.7-0.4-4.1-0.5-5.57.125.0%
20192.9-0.5-1.6-0.61.78.00.07.9-3.22.4-3.13.718.2%
2018————————-0.72.10.35.06.8%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 14.3%. The dominant macroeconomic risk driver is GLD.US, accounting for 99.9% of variance. Idiosyncratic stock-specific factors contribute 0.0%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2018-08-0110000
2018-09-019933.333333333332
2018-10-0110141.666666666666
2018-11-0110175
2018-12-0110683.333333333334
2019-01-0110991.666666666666
2019-02-0110933.333333333332
2019-03-0110758.333333333334
2019-04-0110691.666666666666
2019-05-0110875.000000000002
2019-06-0111750
2019-07-0111750
2019-08-0112675
2019-09-0112266.666666666668
2019-10-0112566.666666666666
2019-11-0112175
2019-12-0112625
2020-01-0113191.666666666666
2020-02-0113108.333333333332
2020-03-0113100
2020-04-0114033.333333333334
2020-05-0114391.666666666668
2020-06-0114816.666666666666
2020-07-0116408.333333333332
2020-08-0116341.666666666666
2020-09-0115666.666666666666
2020-10-0115591.666666666668
2020-11-0114741.666666666668
2020-12-0115783.333333333334
2021-01-0115291.666666666668
2021-02-0114325.000000000002
2021-03-0114158.333333333332
2021-04-0114666.666666666668
2021-05-0115791.666666666666
2021-06-0114666.666666666668
2021-07-0115049.999999999998
2021-08-0115049.999999999998
2021-09-0114550
2021-10-0114775
2021-11-0114675
2021-12-0115149.999999999998
2022-01-0114908.333333333334
2022-02-0115824.999999999998
2022-03-0116025
2022-04-0115700
2022-05-0115199.999999999998
2022-06-0114950.000000000002
2022-07-0114574.999999999998
2022-08-0114141.666666666666
2022-09-0113750
2022-10-0113499.999999999998
2022-11-0114633.333333333332
2022-12-0115075
2023-01-0115941.666666666664
2023-02-0115100
2023-03-0116291.666666666666
2023-04-0116441.666666666668
2023-05-0116224.999999999998
2023-06-0115866.666666666666
2023-07-0116224.999999999998
2023-08-0116025
2023-09-0115258.333333333332
2023-10-0116391.666666666668
2023-11-0116808.333333333336
2023-12-0117025
2024-01-0116791.666666666664
2024-02-0116866.666666666664
2024-03-0118324.999999999996
2024-04-0118900
2024-05-0119200
2024-06-0119175.000000000004
2024-07-0120200
2024-08-0120633.333333333336
2024-09-0121691.666666666668
2024-10-0122633.333333333332
2024-11-0121916.666666666668
2024-12-0121616.666666666668
2025-01-0123075
2025-02-0123525
2025-03-0125733.333333333332
2025-04-0127133.333333333332
2025-05-0127125
2025-06-0127233.333333333332
2025-07-0127075
2025-08-0128416.666666666668
2025-09-0131766.666666666664
2025-10-0132899.99999999999
2025-11-0134683.333333333336
2025-12-0135458.33333333333
2026-01-0139883.333333333336
2026-02-0143266.66666666667
2026-03-0138491.666666666664
2026-04-0139391.66666666667
Annual Return Matrix
YearAnnual Return
20190.1817472698907956
20200.25016501650165024
2021-0.040126715945089875
2022-0.004950495049504955
20230.12935323383084585
20240.26970141948115534
20250.6403238242097145
20260.11092831962397187
Total Factor Risk
0.1434051013283101
VTI.US Exposure
0.0037227564451862132
VEA.US Exposure
0.0014982667642097927
VWO.US Exposure
-0.0013740509987688802
QQQ.US Exposure
-0.00048540735537247796
VTV.US Exposure
-0.002528723134787422
IJR.US Exposure
-0.00011468202162442854
QUAL.US Exposure
-0.0016110828360504199
SHV.US Exposure
0.0004958467337395012
TLT.US Exposure
0.00004509642504813455
LQD.US Exposure
0.0009628660171699106
HYG.US Exposure
-0.0005662496675099284
GLD.US Exposure
0.9985456846344953
USO.US Exposure
-0.00018100219361706562
VNQ.US Exposure
0.0005873393505764986
BTC-USD.CC Exposure
-0.00006582441374182613
CPER.US Exposure
0.0010059776100994973
VIX.INDX Exposure
0.00001859800484954499
UUP.US Exposure
0.0005511239662746851
TIP.US Exposure
-0.0005770968419158913
Idiosyncratic Exposure
0.00007056351173938486
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
14.3%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-2.2%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+14.5%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
11.2% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
0.67
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Goldman Sachs Physical Gold ETF a high-risk investment?

Goldman Sachs Physical Gold ETF (AAAU.US) has an annualized volatility of 14.3% and experienced a maximum drawdown of 17.7% over the last 10 years. Its primary macro risk driver is GLD.US.

What is the 10-year return of AAAU.US?

Over the past 10 years, AAAU.US has generated a Compound Annual Growth Rate (CAGR) of 19.6%. It has had a positive return in 75% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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