EXI vs. IAU

Last updated Jun 4, 2026

EXI (iShares Global Industrials ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - EXI is a Industrials Equities fund tracking the S&P Global 1200 / Industrials -SEC, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, EXI returned 12.43%/yr vs 13.31%/yr for IAU. At a 0.12 correlation, their price movements are largely independent. EXI charges 0.43%/yr vs 0.25%/yr for IAU.

Performance

EXI vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Industrials ETF (EXI) 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, EXI achieves a 10.88% return, which is significantly higher than IAU's 2.98% return. Over the past 10 years, EXI has underperformed IAU with an annualized return of 12.43%, while IAU has yielded a comparatively higher 13.31% annualized return.

EXI

• 1D: -0.21%
• 1M: 1.21%
• YTD: 10.88%
• 6M: 13.08%
• 1Y: 22.09%
• 3Y*: 20.74%
• 5Y*: 11.17%
• 10Y*: 12.43%

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)

EXI vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXI iShares Global Industrials ETF	10.88%	25.88%	12.47%	22.04%	-12.36%	17.37%	11.33%	27.13%	-14.41%	25.16%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between EXI and IAU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Sep 28, 2006	0.12

The correlation between EXI and IAU shifts across timeframes, from 0.12 (10 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.

EXI vs. IAU - Sectors Allocation Comparison

Sectors	EXI	IAU
Industrials	92.8%	-
Utilities	2.9%	-
Technology	2.7%	-
Communication Services	0.6%	-
Consumer Cyclical	0.6%	-
Basic Materials	0.2%	-
Financial Services	0.1%	-
Consumer Defensive	0.1%	-
Energy	-	-
Healthcare	-	-
Real Estate	-	100.0%

Return for Risk

EXI vs. IAU — Risk / Return Rank

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

EXI

EXI Risk / Return Rank: 40
EXI Sharpe Ratio Rank: 38
EXI Sortino Ratio Rank: 40
EXI Omega Ratio Rank: 39
EXI Calmar Ratio Rank: 36
EXI Martin Ratio Rank: 44

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.

EXI vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Industrials ETF (EXI) 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.

	EXI	IAU	Difference
Sharpe ratio Return per unit of total volatility	1.39	1.23	+0.17
Sortino ratio Return per unit of downside risk	2.09	1.62	+0.47
Omega ratio Gain probability vs. loss probability	1.26	1.24	+0.01
Calmar ratio Return relative to maximum drawdown	1.80	1.69	+0.11
Martin ratio Return relative to average drawdown	7.30	4.19	+3.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXI vs. IAU - Sharpe Ratio Comparison

The current EXI Sharpe Ratio is 1.39, which is comparable to the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of EXI 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

	EXI	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.23	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	1.03	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.84	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.62	-0.20

Drawdowns

EXI vs. IAU - Drawdown Comparison

The maximum EXI drawdown since its inception was -62.60%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for EXI and IAU.

Drawdown Indicators

	EXI	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-62.60%	-45.14%	-17.46%
Max Drawdown (1Y) Largest decline over 1 year	-12.35%	-19.18%	+6.83%
Max Drawdown (3Y) Largest decline over 3 years	-14.38%	-19.18%	+4.80%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-20.93%	-6.30%
Max Drawdown (10Y) Largest decline over 10 years	-39.56%	-21.82%	-17.74%
Current Drawdown Current decline from peak	-3.16%	-17.70%	+14.54%
Average Drawdown Average peak-to-trough decline	-9.97%	-15.96%	+5.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	7.71%	-4.68%

Volatility

EXI vs. IAU - Volatility Comparison

iShares Global Industrials ETF (EXI) and iShares Gold Trust (IAU) have volatilities of 5.33% and 5.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXI	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	5.50%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	23.02%	-9.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	26.42%	-10.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	17.95%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	15.90%	+2.51%

EXI vs. IAU - Expense Ratio Comparison

EXI has a 0.43% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

EXI vs. IAU - Dividend Comparison

EXI's dividend yield for the trailing twelve months is around 1.19%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXI iShares Global Industrials ETF	1.19%	1.32%	1.47%	1.84%	1.63%	1.42%	1.26%	1.72%	2.21%	1.48%	1.75%	1.95%
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%

Frequently Asked Questions

Can I hold both EXI and IAU in my portfolio?

EXI and IAU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXI or IAU?

IAU has higher volatility (5.50%) compared to EXI (5.33%). In terms of maximum drawdown, EXI dropped -62.60% vs IAU's -45.14%.

Which ETF is better, EXI or IAU?

On 10-year performance, IAU leads with 13.31% vs 12.43% for EXI. On fees, IAU is cheaper at 0.25% per year. On volatility, EXI has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EXI or IAU?

Over the 10-year period, IAU has performed better with a 13.31% return vs 12.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EXI or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.43% for EXI.

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

EXI has the higher dividend yield at 1.19%, compared with 0.00% for IAU.

What is the main difference between EXI and IAU?

EXI is categorized as Industrials Equities, while IAU is Gold. EXI tracks S&P Global 1200 / Industrials -SEC, while IAU tracks LBMA Gold Price. Their fees differ too: 0.43% for EXI and 0.25% for IAU.

Which has better risk-adjusted returns?

EXI currently has the higher Sharpe Ratio (1.39 vs 1.23), 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.