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CAT vs. IAU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CAT vs. IAU

Last updated Jun 13, 2026

CAT (Caterpillar Inc.) is a stock, while IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price. Over the past 10 years, CAT returned 31.33%/yr vs 12.31%/yr for IAU. At a 0.09 correlation, their price movements are largely independent.

Performance

CAT vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Caterpillar Inc. (CAT) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CAT achieves a 59.62% return, which is significantly higher than IAU's -2.44% return. Over the past 10 years, CAT has outperformed IAU with an annualized return of 31.33%, while IAU has yielded a comparatively lower 12.31% annualized return.

CAT

1D
1.44%
1M
0.92%
YTD
59.62%
6M
52.94%
1Y
154.99%
3Y*
57.16%
5Y*
35.17%
10Y*
31.33%

IAU

1D
0.08%
1M
-10.21%
YTD
-2.44%
6M
-2.22%
1Y
23.95%
3Y*
29.07%
5Y*
17.23%
10Y*
12.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CAT vs. IAU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CAT
Caterpillar Inc.		59.62%60.30%24.66%25.95%18.60%15.95%26.97%19.51%-17.56%75.03%
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 CAT and IAU is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.16

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2005

0.09

The correlation between CAT and IAU shifts across timeframes, from 0.05 (10 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.

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Caterpillar Inc.

iShares Gold Trust

Often compared with CAT:
CAT vs. DECAT vs. CMICAT vs. SPYCAT vs. VOOCAT vs. URICAT vs. HDCAT vs. CL
Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS

Return for Risk

CAT vs. IAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CAT
CAT Risk / Return Rank: 9898
Overall Rank
CAT Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CAT Sortino Ratio Rank: 9898
Sortino Ratio Rank
CAT Omega Ratio Rank: 9797
Omega Ratio Rank
CAT Calmar Ratio Rank: 9898
Calmar Ratio Rank
CAT Martin Ratio Rank: 9999
Martin Ratio Rank
IAU
IAU Risk / Return Rank: 2626
Overall Rank
IAU Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 2525
Sortino Ratio Rank
IAU Omega Ratio Rank: 3030
Omega Ratio Rank
IAU Calmar Ratio Rank: 2424
Calmar Ratio Rank
IAU Martin Ratio Rank: 2424
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAT vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caterpillar Inc. (CAT) 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.

CATIAUDifference
Sharpe ratioReturn per unit of total volatility
4.43
0.89

+3.55

Sortino ratioReturn per unit of downside risk
5.03
1.25

+3.79

Omega ratioGain probability vs. loss probability

1.65

1.19

+0.46

Calmar ratioReturn relative to maximum drawdown

11.24

0.99

+10.25

Martin ratioReturn relative to average drawdown

36.80

2.83

+33.96

CAT vs. IAU - Sharpe Ratio Comparison

The current CAT Sharpe Ratio is 4.43, which is higher than the IAU Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of CAT and IAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CAT vs. IAU - Drawdown Comparison

The maximum CAT drawdown since its inception was -73.43%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for CAT and IAU.

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Drawdown Indicators

CATIAUDifference

Max Drawdown

Largest peak-to-trough decline

-73.43%

-45.14%

-28.29%

Max Drawdown (1Y)

Largest decline over 1 year

-13.88%

-24.40%

+10.52%

Max Drawdown (3Y)

Largest decline over 3 years

-34.05%

-24.40%

-9.65%

Max Drawdown (5Y)

Largest decline over 5 years

-34.05%

-24.40%

-9.65%

Max Drawdown (10Y)

Largest decline over 10 years

-43.36%

-24.40%

-18.96%

Current Drawdown

Current decline from peak

-3.18%

-22.03%

+18.85%

Average Drawdown

Average peak-to-trough decline

-19.73%

-15.97%

-3.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.23%

8.47%

-4.24%

Volatility

CAT vs. IAU - Volatility Comparison

Caterpillar Inc. (CAT) has a higher volatility of 13.16% compared to iShares Gold Trust (IAU) at 7.70%. This indicates that CAT'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

CATIAUDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.16%

7.70%

+5.46%

Volatility (6M)

Calculated over the trailing 6-month period

28.37%

23.94%

+4.43%

Volatility (1Y)

Calculated over the trailing 1-year period

35.19%

27.17%

+8.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.79%

18.16%

+12.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.98%

16.02%

+14.96%

Dividends

CAT vs. IAU - Dividend Comparison

CAT's dividend yield for the trailing twelve months is around 0.66%, while IAU has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CAT
Caterpillar Inc.		0.66%1.02%1.49%1.69%1.93%2.07%2.26%2.56%2.58%1.97%3.32%4.33%
IAU
iShares Gold Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CAT and IAU have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CAT has higher volatility (13.16%) compared to IAU (7.70%). In terms of maximum drawdown, CAT dropped -73.43% vs IAU's -45.14%.

CAT currently has the higher Sharpe Ratio (4.43 vs 0.89), 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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