EEMV vs. IAU

Last updated Jun 4, 2026

EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - EEMV is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, EEMV returned 6.68%/yr vs 13.31%/yr for IAU. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

EEMV vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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, EEMV achieves a 17.74% return, which is significantly higher than IAU's 2.98% return. Over the past 10 years, EEMV has underperformed IAU with an annualized return of 6.68%, while IAU has yielded a comparatively higher 13.31% annualized return.

EEMV

• 1D: -1.04%
• 1M: 7.00%
• YTD: 17.74%
• 6M: 18.90%
• 1Y: 26.57%
• 3Y*: 14.14%
• 5Y*: 5.59%
• 10Y*: 6.68%

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)

EEMV vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	17.74%	13.45%	7.98%	7.75%	-13.94%	5.05%	6.90%	7.83%	-5.81%	27.28%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between EEMV and IAU is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011	0.22

The correlation between EEMV and IAU shifts across timeframes, from 0.22 (all time) to 0.37 (3 years), reflecting how their relationship changes across market environments.

EEMV vs. IAU - Sectors Allocation Comparison

Sectors	EEMV	IAU
Technology	28.9%	-
Financial Services	17.7%	-
Communication Services	11.2%	-
Consumer Defensive	6.8%	-
Industrials	6.7%	-
Healthcare	6.2%	-
Consumer Cyclical	5.0%	-
Utilities	4.6%	-
Energy	3.4%	-
Basic Materials	3.1%	-
Real Estate	0.5%	100.0%

Return for Risk

EEMV vs. IAU — Risk / Return Rank

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

EEMV

EEMV Risk / Return Rank: 61
EEMV Sharpe Ratio Rank: 59
EEMV Sortino Ratio Rank: 60
EEMV Omega Ratio Rank: 66
EEMV Calmar Ratio Rank: 58
EEMV Martin Ratio Rank: 60

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.

EEMV vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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.

	EEMV	IAU	Difference
Sharpe ratio Return per unit of total volatility	2.04	1.23	+0.82
Sortino ratio Return per unit of downside risk	2.89	1.62	+1.27
Omega ratio Gain probability vs. loss probability	1.40	1.24	+0.16
Calmar ratio Return relative to maximum drawdown	2.89	1.69	+1.21
Martin ratio Return relative to average drawdown	10.79	4.19	+6.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMV vs. IAU - Sharpe Ratio Comparison

The current EEMV Sharpe Ratio is 2.04, which is higher than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of EEMV 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

	EEMV	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.23	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	1.03	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.84	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.62	-0.23

Drawdowns

EEMV vs. IAU - Drawdown Comparison

The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for EEMV and IAU.

Drawdown Indicators

	EEMV	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-31.56%	-45.14%	+13.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-19.18%	+9.96%
Max Drawdown (3Y) Largest decline over 3 years	-12.47%	-19.18%	+6.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-20.93%	-0.97%
Max Drawdown (10Y) Largest decline over 10 years	-31.56%	-21.82%	-9.74%
Current Drawdown Current decline from peak	-1.08%	-17.70%	+16.62%
Average Drawdown Average peak-to-trough decline	-7.97%	-15.96%	+7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	7.71%	-5.24%

Volatility

EEMV vs. IAU - Volatility Comparison

iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a higher volatility of 5.78% compared to iShares Gold Trust (IAU) at 5.50%. This indicates that EEMV'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.

Volatility by Period

	EEMV	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.78%	5.50%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	11.71%	23.02%	-11.31%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	26.42%	-13.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	17.95%	-6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	15.90%	-2.04%

EEMV vs. IAU - Expense Ratio Comparison

Both EEMV and IAU have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EEMV vs. IAU - Dividend Comparison

EEMV's dividend yield for the trailing twelve months is around 2.25%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	2.25%	2.65%	3.50%	2.75%	1.93%	2.14%	2.45%	2.63%	2.46%	2.34%	2.79%	2.55%
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 EEMV and IAU in my portfolio?

EEMV and IAU have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMV or IAU?

EEMV has higher volatility (5.78%) compared to IAU (5.50%). In terms of maximum drawdown, EEMV dropped -31.56% vs IAU's -45.14%.

Which ETF is better, EEMV or IAU?

On 10-year performance, IAU leads with 13.31% vs 6.68% for EEMV. Both ETFs have the same 0.25% expense ratio. On volatility, IAU has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMV or IAU?

Over the 10-year period, IAU has performed better with a 13.31% return vs 6.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMV or IAU?

EEMV and IAU have the same expense ratio: 0.25% per year.

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

EEMV has the higher dividend yield at 2.25%, compared with 0.00% for IAU.

What is the main difference between EEMV and IAU?

EEMV is categorized as Asia Pacific Equities, while IAU is Gold. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while IAU tracks LBMA Gold Price.

Which has better risk-adjusted returns?

EEMV currently has the higher Sharpe Ratio (2.04 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.