and that's with dividends reinvested for VOO and using GLD which has a very high expense ratio and probably negative earnings due to storage cost and more supply of gold.
[https://www.morningstar.com/etfs/arcx/voo/chart](https://www.morningstar.com/etfs/arcx/voo/chart)
[https://www.morningstar.com/etfs/arcx/gld/chart](https://www.morningstar.com/etfs/arcx/gld/chart)
Why is GLD outperforming the riskier asset that generates no income or earnings? Analyst targets seem to have GLD rise even higher and continue to outperform.