DVY vs. IAU

Last updated Jun 5, 2026

DVY (iShares Select Dividend ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - DVY is a Large Cap Value Equities fund tracking the Dow Jones U.S. Select Dividend Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, DVY returned 10.15%/yr vs 13.38%/yr for IAU. At a 0.06 correlation, their price movements are largely independent. DVY charges 0.39%/yr vs 0.25%/yr for IAU.

Performance

DVY vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Select Dividend ETF (DVY) 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, DVY achieves a 10.60% return, which is significantly higher than IAU's 3.83% return. Over the past 10 years, DVY has underperformed IAU with an annualized return of 10.15%, while IAU has yielded a comparatively higher 13.38% annualized return.

DVY

• 1D: 0.81%
• 1M: 0.23%
• YTD: 10.60%
• 6M: 11.31%
• 1Y: 23.13%
• 3Y*: 15.97%
• 5Y*: 8.68%
• 10Y*: 10.15%

IAU

• 1D: 0.83%
• 1M: -1.65%
• YTD: 3.83%
• 6M: 6.31%
• 1Y: 32.47%
• 3Y*: 31.39%
• 5Y*: 18.52%
• 10Y*: 13.38%

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

DVY vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVY iShares Select Dividend ETF	10.60%	11.60%	16.24%	1.12%	1.80%	31.70%	-4.91%	22.62%	-6.36%	14.82%
IAU iShares Gold Trust	3.83%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between DVY and IAU is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 31, 2005	0.06

DVY vs. IAU - Sectors Allocation Comparison

Sectors	DVY	IAU
Financial Services	24.9%	-
Utilities	24.2%	-
Consumer Defensive	13.5%	-
Consumer Cyclical	9.4%	-
Energy	9.1%	-
Communication Services	6.0%	-
Healthcare	5.0%	-
Technology	3.4%	-
Basic Materials	2.3%	-
Industrials	2.1%	-
Real Estate	-	100.0%

Return for Risk

DVY vs. IAU — Risk / Return Rank

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

DVY

DVY Risk / Return Rank: 65
DVY Sharpe Ratio Rank: 64
DVY Sortino Ratio Rank: 68
DVY Omega Ratio Rank: 59
DVY Calmar Ratio Rank: 69
DVY Martin Ratio Rank: 66

IAU

IAU Risk / Return Rank: 34
IAU Sharpe Ratio Rank: 35
IAU Sortino Ratio Rank: 32
IAU Omega Ratio Rank: 39
IAU Calmar Ratio Rank: 35
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.

DVY vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Select Dividend ETF (DVY) 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.

	DVY	IAU	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.24	+0.86
Sortino ratio: Return per unit of downside risk	3.06	1.63	+1.43
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	3.37	1.70	+1.67
Martin ratio: Return relative to average drawdown	11.90	4.18	+7.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DVY vs. IAU - Sharpe Ratio Comparison

The current DVY Sharpe Ratio is 2.09, which is higher than the IAU Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of DVY 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

	DVY	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.24	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	1.04	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.84	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.63	-0.15

Drawdowns

DVY vs. IAU - Drawdown Comparison

The maximum DVY drawdown since its inception was -62.59%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for DVY and IAU.

Drawdown Indicators

	DVY	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-62.59%	-45.14%	-17.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-19.18%	+12.29%
Max Drawdown (3Y) Largest decline over 3 years	-16.00%	-19.18%	+3.18%
Max Drawdown (5Y) Largest decline over 5 years	-17.54%	-20.93%	+3.39%
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	-21.82%	-19.77%
Current Drawdown Current decline from peak	-1.16%	-17.02%	+15.86%
Average Drawdown Average peak-to-trough decline	-8.79%	-15.96%	+7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	7.79%	-5.84%

Volatility

DVY vs. IAU - Volatility Comparison

The current volatility for iShares Select Dividend ETF (DVY) is 2.83%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that DVY 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

	DVY	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	5.50%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	23.03%	-15.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.15%	26.41%	-15.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	17.94%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	15.90%	+2.11%

DVY vs. IAU - Expense Ratio Comparison

DVY has a 0.39% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

DVY vs. IAU - Dividend Comparison

DVY's dividend yield for the trailing twelve months is around 3.39%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVY iShares Select Dividend ETF	3.39%	3.65%	3.65%	3.82%	3.43%	3.12%	3.66%	3.41%	3.58%	3.00%	3.04%	3.45%
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

Can I hold both DVY and IAU in my portfolio?

DVY and IAU have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVY or IAU?

IAU has higher volatility (5.50%) compared to DVY (2.83%). In terms of maximum drawdown, DVY dropped -62.59% vs IAU's -45.14%.

Which ETF is better, DVY or IAU?

On 10-year performance, IAU leads with 13.38% vs 10.15% for DVY. On fees, IAU is cheaper at 0.25% per year. On volatility, DVY has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVY or IAU?

Over the 10-year period, IAU has performed better with a 13.38% return vs 10.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVY or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.39% for DVY.

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

DVY has the higher dividend yield at 3.39%, compared with 0.00% for IAU.

What is the main difference between DVY and IAU?

DVY is categorized as Large Cap Value Equities, while IAU is Gold. DVY tracks Dow Jones U.S. Select Dividend Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.39% for DVY and 0.25% for IAU.

Which has better risk-adjusted returns?

DVY currently has the higher Sharpe Ratio (2.09 vs 1.24), 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.