FGQD.L vs. IAU
FGQD.L (Fidelity Global Quality Income ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - FGQD.L is a Global Equities fund tracking the Fidelity Global Quality Income index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, FGQD.L returned 11.84%/yr vs 19.46%/yr for IAU. At a 0.07 correlation, their price movements are largely independent. FGQD.L charges 0.40%/yr vs 0.25%/yr for IAU.
Performance
FGQD.L vs. IAU - Performance Comparison
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Different Trading Currencies
FGQD.L is traded in GBp, while IAU is traded in USD. To make them comparable, the IAU values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FGQD.L achieves a 10.74% return, which is significantly higher than IAU's 0.55% return.
FGQD.L
- 1D
- 0.92%
- 1M
- 2.70%
- YTD
- 10.74%
- 6M
- 10.84%
- 1Y
- 27.46%
- 3Y*
- 15.11%
- 5Y*
- 11.84%
- 10Y*
- —
IAU
- 1D
- 2.54%
- 1M
- -5.62%
- YTD
- 0.55%
- 6M
- -0.06%
- 1Y
- 26.99%
- 3Y*
- 27.99%
- 5Y*
- 19.46%
- 10Y*
- 13.27%
FGQD.L vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FGQD.L Fidelity Global Quality Income ETF | 10.74% | 12.15% | 13.21% | 11.51% | -0.25% | 23.78% | 6.42% | 23.83% | -2.25% | -14.04% |
IAU iShares Gold Trust | 0.55% | 52.27% | 29.07% | 7.20% | 11.18% | -3.09% | 21.36% | 13.49% | 4.07% | -3.86% |
Correlation
The correlation between FGQD.L and IAU is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2017 | 0.07 |
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Return for Risk
FGQD.L vs. IAU — Risk / Return Rank
FGQD.L
IAU
FGQD.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Quality Income ETF (FGQD.L) 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.
| FGQD.L | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.22 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 1.16 | +2.63 |
| Martin ratioReturn relative to average drawdown | 17.00 | 3.42 | +13.58 |
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Drawdowns
FGQD.L vs. IAU - Drawdown Comparison
The maximum FGQD.L drawdown since its inception was -26.43%, smaller than the maximum IAU drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for FGQD.L and IAU.
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Drawdown Indicators
| FGQD.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.43% | -41.56% | +15.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -23.32% | +16.10% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -23.32% | +6.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.90% | -23.32% | +6.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.32% | — |
Current DrawdownCurrent decline from peak | 0.00% | -19.10% | +19.10% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -13.05% | +7.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 7.92% | -6.31% |
Volatility
FGQD.L vs. IAU - Volatility Comparison
The current volatility for Fidelity Global Quality Income ETF (FGQD.L) is 3.04%, while iShares Gold Trust (IAU) has a volatility of 7.60%. This indicates that FGQD.L 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
| FGQD.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 7.60% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 22.57% | -15.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.81% | 25.93% | -16.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.22% | 16.90% | -4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 16.28% | -0.82% |
FGQD.L vs. IAU - Expense Ratio Comparison
FGQD.L has a 0.40% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
FGQD.L vs. IAU - Dividend Comparison
FGQD.L's dividend yield for the trailing twelve months is around 1.80%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FGQD.L Fidelity Global Quality Income ETF | 1.80% | 1.86% | 2.31% | 2.78% | 2.70% | 2.46% | 2.60% | 2.44% | 2.70% | 1.10% |
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FGQD.L and IAU have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IAU is cheaper with a 0.25% expense ratio, compared with 0.40% for FGQD.L.
FGQD.L is categorized as Global Equities, while IAU is Gold. FGQD.L tracks Fidelity Global Quality Income index, while IAU tracks LBMA Gold Price. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.40% for FGQD.L and 0.25% for IAU.
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