ENHI vs. IAU

Last updated Jun 5, 2026

ENHI (iShares Enhanced International Active ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ENHI is a Foreign Large Cap Equities fund actively managed by iShares, while IAU is a Gold fund tracking the LBMA Gold Price. ENHI is actively managed, while IAU is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. ENHI charges 0.27%/yr vs 0.25%/yr for IAU.

Performance

ENHI vs. IAU - Performance Comparison

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

Returns By Period

ENHI

• 1D: 0.58%
• 1M: 2.83%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

ENHI vs. IAU - Yearly Performance Comparison

	2026 (YTD)
ENHI iShares Enhanced International Active ETF	8.90%
IAU iShares Gold Trust	-11.89%

Correlation

The correlation between ENHI and IAU is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 13, 2026	0.59

Return for Risk

ENHI 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: 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.

ENHI vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Enhanced International Active ETF (ENHI) 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

	ENHI	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.63	+1.37

Drawdowns

ENHI vs. IAU - Drawdown Comparison

The maximum ENHI drawdown since its inception was -5.63%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ENHI and IAU.

Drawdown Indicators

	ENHI	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-5.63%	-45.14%	+39.51%
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	-0.06%	-17.02%	+16.96%
Average Drawdown Average peak-to-trough decline	-1.52%	-15.96%	+14.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.79%	—

Volatility

Volatility by Period

	ENHI	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.63%	26.41%	-3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	17.94%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.63%	15.90%	+6.73%

ENHI vs. IAU - Expense Ratio Comparison

ENHI has a 0.27% expense ratio, which is higher than IAU's 0.25% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ENHI vs. IAU - Dividend Comparison

Neither ENHI nor IAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ENHI and IAU in my portfolio?

ENHI and IAU have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENHI 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, ENHI or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.27% for ENHI.

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

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

What is the main difference between ENHI and IAU?

ENHI is categorized as Foreign Large Cap Equities, while IAU is Gold. Their fees differ too: 0.27% for ENHI and 0.25% for IAU.