BTG vs. IAU
BTG (B2Gold Corp.) is a stock, while IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price. Over the past 10 years, BTG returned 9.37%/yr vs 12.31%/yr for IAU. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
BTG vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, BTG achieves a -5.82% return, which is significantly lower than IAU's -2.44% return. Over the past 10 years, BTG has underperformed IAU with an annualized return of 9.37%, while IAU has yielded a comparatively higher 12.31% annualized return.
BTG
- 1D
- 2.93%
- 1M
- -13.65%
- YTD
- -5.82%
- 6M
- -7.67%
- 1Y
- 13.69%
- 3Y*
- 8.86%
- 5Y*
- 1.08%
- 10Y*
- 9.37%
IAU
- 1D
- 0.08%
- 1M
- -7.39%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
BTG vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTG B2Gold Corp. | -5.82% | 88.95% | -18.07% | -7.22% | -5.13% | -26.97% | 42.35% | 37.72% | -5.81% | 30.80% |
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between BTG and IAU is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2008 | 0.59 |
The correlation between BTG and IAU shifts across timeframes, from 0.59 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTG vs. IAU — Risk / Return Rank
BTG
IAU
BTG vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for B2Gold Corp. (BTG) and iShares Gold Trust (IAU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTG | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.19 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 0.99 | -0.56 |
| Martin ratioReturn relative to average drawdown | 0.83 | 2.83 | -2.00 |
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Drawdowns
BTG vs. IAU - Drawdown Comparison
The maximum BTG drawdown since its inception was -85.97%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for BTG and IAU.
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Drawdown Indicators
| BTG | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.97% | -45.14% | -40.83% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -24.40% | -12.57% |
Max Drawdown (3Y)Largest decline over 3 years | -36.97% | -24.40% | -12.57% |
Max Drawdown (5Y)Largest decline over 5 years | -48.92% | -24.40% | -24.52% |
Max Drawdown (10Y)Largest decline over 10 years | -63.35% | -24.40% | -38.95% |
Current DrawdownCurrent decline from peak | -31.60% | -22.03% | -9.57% |
Average DrawdownAverage peak-to-trough decline | -38.35% | -15.97% | -22.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.70% | 8.47% | +10.23% |
Volatility
BTG vs. IAU - Volatility Comparison
B2Gold Corp. (BTG) has a higher volatility of 15.76% compared to iShares Gold Trust (IAU) at 7.70%. This indicates that BTG's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTG | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.76% | 7.70% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 44.50% | 23.94% | +20.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.48% | 27.17% | +28.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.82% | 18.16% | +26.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.23% | 16.02% | +32.21% |
Dividends
BTG vs. IAU - Dividend Comparison
BTG's dividend yield for the trailing twelve months is around 1.90%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BTG B2Gold Corp. | 1.90% | 1.77% | 6.56% | 5.06% | 4.48% | 4.07% | 1.96% | 0.25% |
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTG and IAU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTG has higher volatility (15.76%) compared to IAU (7.70%). In terms of maximum drawdown, BTG dropped -85.97% vs IAU's -45.14%.
IAU currently has the higher Sharpe Ratio (0.89 vs 0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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