DGCB vs. IAU

Last updated Jun 4, 2026

DGCB (Dimensional Global Credit ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - DGCB is a Global Bonds fund actively managed by Dimensional, while IAU is a Gold fund tracking the LBMA Gold Price. DGCB is actively managed, while IAU is passively managed. Over the past year, DGCB returned 6.04% vs 32.20% for IAU. At a 0.25 correlation, their price movements are largely independent. DGCB charges 0.20%/yr vs 0.25%/yr for IAU.

Performance

DGCB vs. IAU - Performance Comparison

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

Returns By Period

In the year-to-date period, DGCB achieves a 1.22% return, which is significantly lower than IAU's 2.98% return.

DGCB

• 1D: -0.20%
• 1M: 0.84%
• YTD: 1.22%
• 6M: 1.01%
• 1Y: 6.04%
• 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)

DGCB vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DGCB Dimensional Global Credit ETF	1.22%	6.68%	3.80%	6.14%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	5.77%

Correlation

The correlation between DGCB and IAU is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.25

Return for Risk

DGCB vs. IAU — Risk / Return Rank

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

DGCB

DGCB Risk / Return Rank: 43
DGCB Sharpe Ratio Rank: 43
DGCB Sortino Ratio Rank: 44
DGCB Omega Ratio Rank: 43
DGCB Calmar Ratio Rank: 40
DGCB Martin Ratio Rank: 43

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.

DGCB vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Credit ETF (DGCB) 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.

	DGCB	IAU	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.23	+0.30
Sortino ratio: Return per unit of downside risk	2.22	1.62	+0.60
Omega ratio: Gain probability vs. loss probability	1.28	1.24	+0.03
Calmar ratio: Return relative to maximum drawdown	1.97	1.69	+0.28
Martin ratio: Return relative to average drawdown	6.93	4.19	+2.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGCB vs. IAU - Sharpe Ratio Comparison

The current DGCB Sharpe Ratio is 1.53, which is comparable to the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of DGCB 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.

Sharpe Ratios by Period

	DGCB	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.23	+0.30
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	1.47	0.62	+0.84

Drawdowns

DGCB vs. IAU - Drawdown Comparison

The maximum DGCB drawdown since its inception was -3.50%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for DGCB and IAU.

Drawdown Indicators

	DGCB	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-3.50%	-45.14%	+41.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-19.18%	+16.10%
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	-0.65%	-17.70%	+17.05%
Average Drawdown Average peak-to-trough decline	-0.80%	-15.96%	+15.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	7.71%	-6.84%

Volatility

DGCB vs. IAU - Volatility Comparison

The current volatility for Dimensional Global Credit ETF (DGCB) is 1.45%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that DGCB experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGCB	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	5.50%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	3.17%	23.02%	-19.85%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	26.42%	-22.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.82%	17.95%	-13.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.82%	15.90%	-11.08%

DGCB vs. IAU - Expense Ratio Comparison

DGCB has a 0.20% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DGCB vs. IAU - Dividend Comparison

DGCB's dividend yield for the trailing twelve months is around 3.22%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DGCB Dimensional Global Credit ETF	3.22%	3.43%	4.72%	0.63%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DGCB and IAU in my portfolio?

DGCB and IAU have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGCB or IAU?

IAU has higher volatility (5.50%) compared to DGCB (1.45%). In terms of maximum drawdown, DGCB dropped -3.50% vs IAU's -45.14%.

Which ETF is better, DGCB or IAU?

On 1-year performance, IAU leads with 32.20% vs 6.04% for DGCB. On fees, DGCB is cheaper at 0.20% per year. On volatility, DGCB has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGCB or IAU?

Over the 1-year period, IAU has performed better with a 32.20% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGCB or IAU?

DGCB is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

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

DGCB has the higher dividend yield at 3.22%, compared with 0.00% for IAU.

What is the main difference between DGCB and IAU?

DGCB is categorized as Global Bonds, while IAU is Gold. They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.20% for DGCB and 0.25% for IAU.

Which has better risk-adjusted returns?

DGCB currently has the higher Sharpe Ratio (1.53 vs 1.23), 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.