ETHA vs. IAU

Last updated Jun 4, 2026

ETHA (iShares Ethereum Trust ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past year, ETHA returned -31.79% vs 32.20% for IAU. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

ETHA vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ethereum Trust ETF (ETHA) 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, ETHA achieves a -39.46% return, which is significantly lower than IAU's 2.98% return.

ETHA

• 1D: -5.56%
• 1M: -23.58%
• YTD: -39.46%
• 6M: -42.75%
• 1Y: -31.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

ETHA vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHA iShares Ethereum Trust ETF	-39.46%	-11.31%	-3.62%
IAU iShares Gold Trust	2.98%	63.95%	8.84%

Correlation

The correlation between ETHA and IAU is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.11

Return for Risk

ETHA vs. IAU — Risk / Return Rank

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

ETHA

ETHA Risk / Return Rank: 5
ETHA Sharpe Ratio Rank: 5
ETHA Sortino Ratio Rank: 5
ETHA Omega Ratio Rank: 5
ETHA Calmar Ratio Rank: 4
ETHA Martin Ratio Rank: 5

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.

ETHA vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.

	ETHA	IAU	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	1.23	-1.69
Sortino ratio: Return per unit of downside risk	-0.31	1.62	-1.93
Omega ratio: Gain probability vs. loss probability	0.97	1.24	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.51	1.69	-2.19
Martin ratio: Return relative to average drawdown	-0.84	4.19	-5.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHA vs. IAU - Sharpe Ratio Comparison

The current ETHA Sharpe Ratio is -0.47, which is lower than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of ETHA 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

	ETHA	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	1.23	-1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	0.62	-1.04

Drawdowns

ETHA vs. IAU - Drawdown Comparison

The maximum ETHA drawdown since its inception was -64.02%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ETHA and IAU.

Drawdown Indicators

	ETHA	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-64.02%	-45.14%	-18.88%
Max Drawdown (1Y) Largest decline over 1 year	-62.89%	-19.18%	-43.71%
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	-62.89%	-17.70%	-45.19%
Average Drawdown Average peak-to-trough decline	-32.65%	-15.96%	-16.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.73%	7.71%	+30.02%

Volatility

ETHA vs. IAU - Volatility Comparison

iShares Ethereum Trust ETF (ETHA) has a higher volatility of 10.15% compared to iShares Gold Trust (IAU) at 5.50%. This indicates that ETHA'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

	ETHA	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.15%	5.50%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	46.25%	23.02%	+23.23%
Volatility (1Y) Calculated over the trailing 1-year period	68.61%	26.42%	+42.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.53%	17.95%	+54.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.53%	15.90%	+56.63%

ETHA vs. IAU - Expense Ratio Comparison

Both ETHA 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

ETHA vs. IAU - Dividend Comparison

Neither ETHA nor IAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETHA and IAU in my portfolio?

ETHA and IAU have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHA or IAU?

ETHA has higher volatility (10.15%) compared to IAU (5.50%). In terms of maximum drawdown, ETHA dropped -64.02% vs IAU's -45.14%.

Which ETF is better, ETHA or IAU?

On 1-year performance, IAU leads with 32.20% vs -31.79% for ETHA. 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, ETHA or IAU?

Over the 1-year period, IAU has performed better with a 32.20% return vs -31.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHA or IAU?

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

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

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

What is the main difference between ETHA and IAU?

ETHA is categorized as Cryptocurrency, while IAU is Gold. ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while IAU tracks LBMA Gold Price.

Which has better risk-adjusted returns?

IAU currently has the higher Sharpe Ratio (1.23 vs -0.47), 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.