CCRV vs. IAU

Last updated Jun 4, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. At a 0.23 correlation, their price movements are largely independent. CCRV charges 0.40%/yr vs 0.25%/yr for IAU.

Performance

CCRV vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CCRV vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.37%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	-1.47%

Correlation

The correlation between CCRV and IAU is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	0.23

The correlation between CCRV and IAU shifts across timeframes, from -0.01 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CCRV vs. IAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

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.

CCRV vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CCRV	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.23	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.62	—

Drawdowns

Drawdown Indicators

	CCRV	IAU	Difference
Max Drawdown Largest peak-to-trough decline	—	-45.14%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-19.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.82%	—
Current Drawdown Current decline from peak	—	-17.70%	—
Average Drawdown Average peak-to-trough decline	—	-15.96%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.71%	—

Volatility

Volatility by Period

	CCRV	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.42%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.90%	—

CCRV vs. IAU - Expense Ratio Comparison

CCRV has a 0.40% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

CCRV vs. IAU - Dividend Comparison

Neither CCRV nor IAU has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CCRV and IAU in my portfolio?

CCRV and IAU have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCRV or IAU?

On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCRV or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.40% for CCRV.

Which ETF pays a higher dividend yield, CCRV or IAU?

CCRV and IAU have nearly identical dividend yields, around 0.00%.

What is the main difference between CCRV and IAU?

CCRV is categorized as Commodities, while IAU is Gold. CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.40% for CCRV and 0.25% for IAU.