OUNZ vs SPY
VanEck Merk Gold ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. OUNZ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | OUNZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $2.5B | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +6.43% | +12.68% | |
| 1Y Return | +37.94% | +21.82% | |
| 3Y Return (annualized) | +34.19% | +21.98% | |
| 5Y Return (annualized) | +20.39% | +12.89% | |
| Volatility (annualized) | 15.8% | 15.3% | |
| Max Drawdown | -26.3% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | May 16, 2014 | Jan 22, 1993 |
OUNZ vs SPY Performance
VanEck Merk Gold ETF (OUNZ) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OUNZ returned +37.94% while SPY returned +21.82%. Year to date, OUNZ is up 6.43% versus a gain of 12.68% for SPY.
Over three years, OUNZ compounded at +34.19% per year against +21.98% for SPY; over five years the annualized figures are +20.39% and +12.89% respectively. Across the full 12-year window we track, OUNZ has the edge at +10.57% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OUNZ has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.3% for OUNZ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.09. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OUNZ charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, OUNZ currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, OUNZ or SPY?
OUNZ has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, OUNZ or SPY?
Over the past year OUNZ returned +37.94% vs +21.82% for SPY, so OUNZ leads on 1-year performance. Over the longest common window we track (12 years), OUNZ annualized +10.57% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, OUNZ or SPY?
OUNZ has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: OUNZ -26.3% vs SPY -56.5%.
Should I hold both OUNZ and SPY?
OUNZ and SPY have a monthly-return correlation of 0.09, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, OUNZ or SPY?
OUNZ yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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