FOVL vs. IAU

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Focused Value Factor ETF (FOVL) and iShares Gold Trust (IAU).

FOVL and IAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FOVL is a passively managed fund by iShares that tracks the performance of the MSCI USA IMI Focused Value Factor Index. It was launched on Mar 19, 2019. 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 FOVL 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

FOVL vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

FOVL vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	22.87%	17.72%	-9.39%	40.14%	-13.20%	6.22%
IAU iShares Gold Trust	8.61%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	15.63%

Returns By Period

FOVL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FOVL vs. IAU - Expense Ratio Comparison

Both FOVL 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%.

FOVL

iShares Focused Value Factor ETF

IAU

iShares Gold Trust

Return for Risk

FOVL vs. IAU — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 87
IAU Sharpe Ratio Rank: 88
IAU Sortino Ratio Rank: 86
IAU Omega Ratio Rank: 86
IAU Calmar Ratio Rank: 89
IAU Martin Ratio Rank: 87

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.

FOVL vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FOVL	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.64	—

Correlation

The correlation between FOVL and IAU is 0.00, 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

FOVL vs. IAU - Dividend Comparison

FOVL's dividend yield for the trailing twelve months is around 0.55%, while IAU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.55%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	FOVL	IAU	Difference
Max Drawdown Largest peak-to-trough decline	—	-45.14%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-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	—	-13.20%	—
Average Drawdown Average peak-to-trough decline	—	-15.98%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.18%	—

Volatility

Volatility by Period

	FOVL	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	27.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.69%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.82%	—