EMVL.L vs. IAU
EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) and IAU (iShares Gold Trust) are both exchange-traded funds - EMVL.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, EMVL.L returned 16.74%/yr vs 18.47%/yr for IAU. At a 0.21 correlation, their price movements are largely independent. EMVL.L charges 0.40%/yr vs 0.25%/yr for IAU.
Performance
EMVL.L vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, EMVL.L achieves a 45.06% return, which is significantly higher than IAU's 0.11% return.
EMVL.L
- 1D
- 2.91%
- 1M
- 8.74%
- YTD
- 45.06%
- 6M
- 49.13%
- 1Y
- 82.04%
- 3Y*
- 36.29%
- 5Y*
- 16.74%
- 10Y*
- —
IAU
- 1D
- 2.61%
- 1M
- -4.97%
- YTD
- 0.11%
- 6M
- 0.22%
- 1Y
- 25.52%
- 3Y*
- 29.91%
- 5Y*
- 18.47%
- 10Y*
- 12.49%
EMVL.L vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 45.06% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 17.64% | -2.10% |
IAU iShares Gold Trust | 0.11% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | 3.54% |
Correlation
The correlation between EMVL.L and IAU is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | 0.21 |
The correlation between EMVL.L and IAU shifts across timeframes, from 0.21 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMVL.L vs. IAU — Risk / Return Rank
EMVL.L
IAU
EMVL.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) 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.
| EMVL.L | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.19 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 7.00 | 1.05 | +5.95 |
| Martin ratioReturn relative to average drawdown | 22.34 | 3.00 | +19.34 |
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Drawdowns
EMVL.L vs. IAU - Drawdown Comparison
The maximum EMVL.L drawdown since its inception was -34.95%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for EMVL.L and IAU.
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Drawdown Indicators
| EMVL.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.95% | -45.14% | +10.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -24.40% | +12.75% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -24.40% | +7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -33.55% | -24.40% | -9.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.40% | — |
Current DrawdownCurrent decline from peak | -3.38% | -20.00% | +16.62% |
Average DrawdownAverage peak-to-trough decline | -9.53% | -15.97% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 8.56% | -4.90% |
Volatility
EMVL.L vs. IAU - Volatility Comparison
iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a higher volatility of 10.29% compared to iShares Gold Trust (IAU) at 8.29%. This indicates that EMVL.L'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
| EMVL.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 8.29% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 18.92% | 24.06% | -5.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.93% | 27.29% | -5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 18.20% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 16.04% | +5.15% |
EMVL.L vs. IAU - Expense Ratio Comparison
EMVL.L has a 0.40% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
EMVL.L vs. IAU - Dividend Comparison
Neither EMVL.L nor IAU has paid dividends to shareholders.
Frequently Asked Questions
EMVL.L and IAU have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IAU is cheaper with a 0.25% expense ratio, compared with 0.40% for EMVL.L.
EMVL.L is categorized as Emerging Markets Equities, while IAU is Gold. EMVL.L tracks MSCI EM NR USD, while IAU tracks LBMA Gold Price. Their fees differ too: 0.40% for EMVL.L and 0.25% for IAU.
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