ESGE vs. IAU
ESGE (iShares ESG Aware MSCI EM ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ESGE is a Emerging Markets Equities fund tracking the MSCI EM Extended ESG Focus Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ESGE returned 8.88%/yr vs 11.21%/yr for IAU. Their 0.23 correlation means their historical movements had little consistent relationship. Both charge a 0.25% expense ratio.
Performance
ESGE vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, ESGE achieves a 17.50% return, which is significantly higher than IAU's -6.16% return. Over the past 10 years, ESGE has underperformed IAU with an annualized return of 8.88%, while IAU has yielded a comparatively higher 11.21% annualized return.
ESGE
- 1D
- 0.92%
- 1M
- -1.79%
- 6M
- 9.17%
- YTD
- 17.50%
- 1Y
- 34.75%
- 3Y*
- 18.81%
- 5Y*
- 6.80%
- 10Y*
- 8.88%
- ALL TIME*
- 8.86%
IAU
- 1D
- -1.46%
- 1M
- -1.73%
- 6M
- -16.48%
- YTD
- -6.16%
- 1Y
- 20.35%
- 3Y*
- 27.40%
- 5Y*
- 17.12%
- 10Y*
- 11.21%
- ALL TIME*
- 10.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.52M | $39.94M | $58.74M | |
| $349.43M | $363.40M | $472.72M |
ESGE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ESGE iShares ESG Aware MSCI EM ETF | 17.50% | 35.86% | 6.63% | 9.51% | -22.41% | -2.87% | 18.60% | 20.37% | -15.24% | 38.86% |
IAU iShares Gold Trust | -6.16% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between ESGE and IAU is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2016 | 0.23 |
The correlation between ESGE and IAU shifts across timeframes, from 0.23 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ESGE vs. IAU — Risk / Return Rank
ESGE
IAU
ESGE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EM ETF (ESGE) 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.
| ESGE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.17 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 0.87 | +1.57 |
| Martin ratioReturn relative to average drawdown | 7.40 | 1.88 | +5.51 |
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Drawdowns
ESGE vs. IAU - Drawdown Comparison
The maximum ESGE drawdown since its inception was -41.07%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ESGE and IAU.
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Drawdown Indicators
| ESGE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.07% | -45.14% | +4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.90% | -26.36% | +12.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.71% | -26.36% | +9.65% |
Max Drawdown (5Y)Largest decline over 5 years | -37.07% | -26.36% | -10.71% |
Max Drawdown (10Y)Largest decline over 10 years | -41.07% | -26.36% | -14.71% |
Current DrawdownCurrent decline from peak | -9.30% | -25.01% | +15.71% |
Average DrawdownAverage peak-to-trough decline | -14.34% | -16.02% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 12.16% | -7.58% |
Volatility
ESGE vs. IAU - Volatility Comparison
iShares ESG Aware MSCI EM ETF (ESGE) has a higher volatility of 9.09% compared to iShares Gold Trust (IAU) at 6.35%. This indicates that ESGE'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
| ESGE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 6.35% | +2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 22.33% | 23.35% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.45% | 27.92% | -3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.98% | 18.42% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 16.08% | +4.27% |
ESGE vs. IAU - Expense Ratio Comparison
Both ESGE 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
ESGE vs. IAU - Dividend Comparison
ESGE's dividend yield for the trailing twelve months is around 2.20%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ESGE iShares ESG Aware MSCI EM ETF | 2.20% | 2.50% | 2.41% | 2.64% | 2.68% | 2.66% | 1.31% | 2.59% | 2.19% | 1.86% | 0.27% |
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% |
Frequently Asked Questions
ESGE and IAU have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESGE has higher volatility (9.09%) compared to IAU (6.35%). In terms of maximum drawdown, ESGE dropped -41.07% vs IAU's -45.14%.
On 10-year performance, IAU leads with 11.21% vs 8.88% for ESGE. Both ETFs have the same 0.25% expense ratio. On volatility, IAU has been the lower-risk option at 6.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAU has performed better with a 11.21% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESGE and IAU have the same expense ratio: 0.25% per year.
ESGE has the higher dividend yield at 2.20%, compared with 0.00% for IAU.
ESGE is categorized as Emerging Markets Equities, while IAU is Gold. ESGE tracks MSCI EM Extended ESG Focus Index, while IAU tracks LBMA Gold Price.
ESGE currently has the higher Sharpe Ratio (1.39 vs 0.82), 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.
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