FOVL vs. IAU

Last updated Jun 4, 2026

FOVL (iShares Focused Value Factor ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

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.

Returns By Period

FOVL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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)

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	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	15.63%

Correlation

The correlation between FOVL and IAU is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019	0.00

The correlation between FOVL and IAU shifts across timeframes, from -0.10 (1 year) to 0.07 (5 years), reflecting how their relationship changes across market environments.

FOVL vs. IAU - Sectors Allocation Comparison

Sectors	FOVL	IAU
Financial Services	44.6%	-
Industrials	12.8%	-
Energy	7.7%	-
Utilities	7.5%	-
Consumer Cyclical	5.2%	-
Consumer Defensive	5.0%	-
Technology	5.0%	-
Healthcare	4.9%	-
Communication Services	4.7%	-
Real Estate	2.6%	100.0%
Basic Materials	-	-

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: 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.

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	—	1.23	—
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	—	0.62	—

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 (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	—	-17.70%	—
Average Drawdown Average peak-to-trough decline	—	-15.96%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.71%	—

Volatility

Volatility by Period

	FOVL	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.42%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.90%	—

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%.

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.

Position	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%

Frequently Asked Questions

Can I hold both FOVL and IAU in my portfolio?

FOVL and IAU have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FOVL or IAU?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FOVL or IAU?

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

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

FOVL has the higher dividend yield at 0.55%, compared with 0.00% for IAU.

What is the main difference between FOVL and IAU?

FOVL is categorized as Mid Cap Value Equities, while IAU is Gold. FOVL tracks MSCI USA IMI Focused Value Factor Index, while IAU tracks LBMA Gold Price.