Here is a comparison of the gold ETF vs gold miners ETF:
This is a great source of information: http://bmgbullion.com/gold-vs-gold-miners/
Seems that physical gold is the winner
There is somewhere in the range of 400 oz of paper gold for every 1 oz of physical gold. If everyone wants their physical gold, the paper will become worthless. This may make mines a good investment provided they have a strong balance sheet as investors may pay up for proven gold reserves yet to be mined.