EWH vs. IAU
Compare and contrast key facts about iShares MSCI Hong Kong ETF (EWH) and iShares Gold Trust (IAU).
EWH and IAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWH is a passively managed fund by iShares that tracks the performance of the MSCI Hong Kong Index. It was launched on Mar 12, 1996. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. Both EWH and IAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EWH vs. IAU - Performance Comparison
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EWH vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWH iShares MSCI Hong Kong ETF | 8.66% | 34.50% | 0.00% | -13.87% | -6.81% | -3.49% | 4.17% | 10.74% | -8.76% | 36.46% |
IAU iShares Gold Trust | 8.61% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Returns By Period
The year-to-date returns for both stocks are quite close, with EWH having a 8.66% return and IAU slightly lower at 8.61%. Over the past 10 years, EWH has underperformed IAU with an annualized return of 5.22%, while IAU has yielded a comparatively higher 14.08% annualized return.
EWH
- 1D
- 3.17%
- 1M
- -4.63%
- YTD
- 8.66%
- 6M
- 10.59%
- 1Y
- 39.05%
- 3Y*
- 8.77%
- 5Y*
- 0.83%
- 10Y*
- 5.22%
IAU
- 1D
- 3.80%
- 1M
- -11.01%
- YTD
- 8.61%
- 6M
- 21.15%
- 1Y
- 49.53%
- 3Y*
- 33.12%
- 5Y*
- 21.78%
- 10Y*
- 14.08%
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EWH vs. IAU - Expense Ratio Comparison
EWH has a 0.49% expense ratio, which is higher than IAU's 0.25% expense ratio.
Return for Risk
EWH vs. IAU — Risk / Return Rank
EWH
IAU
EWH vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Hong Kong ETF (EWH) 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.
| EWH | IAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.09 | 1.80 | +0.29 |
Sortino ratioReturn per unit of downside risk | 2.66 | 2.24 | +0.43 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.33 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.66 | 2.69 | -0.04 |
Martin ratioReturn relative to average drawdown | 11.06 | 9.97 | +1.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EWH | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 1.80 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 1.24 | -1.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.89 | -0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.64 | -0.46 |
Correlation
The correlation between EWH and IAU is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
EWH vs. IAU - Dividend Comparison
EWH's dividend yield for the trailing twelve months is around 4.78%, while IAU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWH iShares MSCI Hong Kong ETF | 4.78% | 5.20% | 4.17% | 4.28% | 2.91% | 2.78% | 2.56% | 2.71% | 2.93% | 4.35% | 3.08% | 2.63% |
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% |
Drawdowns
EWH vs. IAU - Drawdown Comparison
The maximum EWH drawdown since its inception was -66.44%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for EWH and IAU.
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Drawdown Indicators
| EWH | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -45.14% | -21.30% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -19.18% | +4.62% |
Max Drawdown (5Y)Largest decline over 5 years | -42.71% | -20.93% | -21.78% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -21.82% | -20.89% |
Current DrawdownCurrent decline from peak | -4.63% | -13.20% | +8.57% |
Average DrawdownAverage peak-to-trough decline | -19.58% | -15.98% | -3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 5.18% | -1.69% |
Volatility
EWH vs. IAU - Volatility Comparison
The current volatility for iShares MSCI Hong Kong ETF (EWH) is 6.30%, while iShares Gold Trust (IAU) has a volatility of 11.02%. This indicates that EWH experiences smaller price fluctuations and is considered to be less risky 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
| EWH | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 11.02% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 12.53% | 24.11% | -11.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.77% | 27.62% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 17.69% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 15.82% | +3.73% |