GCC vs. IAU

Last updated Jun 5, 2026

GCC (WisdomTree Enhanced Commodity Strategy Fund) and IAU (iShares Gold Trust) are both exchange-traded funds - GCC is a Commodities fund actively managed by WisdomTree, while IAU is a Gold fund tracking the LBMA Gold Price. GCC is actively managed, while IAU is passively managed. Over the past 10 years, GCC returned 6.59%/yr vs 13.38%/yr for IAU. At a 0.43 correlation, their price movements are largely independent. GCC charges 0.55%/yr vs 0.25%/yr for IAU.

Performance

GCC vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Enhanced Commodity Strategy Fund (GCC) 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, GCC achieves a 17.30% return, which is significantly higher than IAU's 3.83% return. Over the past 10 years, GCC has underperformed IAU with an annualized return of 6.59%, while IAU has yielded a comparatively higher 13.38% annualized return.

GCC

• 1D: -1.12%
• 1M: -3.09%
• YTD: 17.30%
• 6M: 20.27%
• 1Y: 35.53%
• 3Y*: 18.58%
• 5Y*: 11.23%
• 10Y*: 6.59%

IAU

• 1D: 0.83%
• 1M: -1.65%
• YTD: 3.83%
• 6M: 6.31%
• 1Y: 32.47%
• 3Y*: 31.39%
• 5Y*: 18.52%
• 10Y*: 13.38%

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

GCC vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCC WisdomTree Enhanced Commodity Strategy Fund	17.30%	20.01%	15.13%	-3.72%	7.74%	19.96%	1.38%	7.07%	-8.69%	-0.57%
IAU iShares Gold Trust	3.83%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between GCC and IAU is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 25, 2008	0.43

The correlation between GCC and IAU shifts across timeframes, from 0.40 (10 years) to 0.59 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GCC vs. IAU — Risk / Return Rank

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

GCC

GCC Risk / Return Rank: 66
GCC Sharpe Ratio Rank: 65
GCC Sortino Ratio Rank: 55
GCC Omega Ratio Rank: 67
GCC Calmar Ratio Rank: 71
GCC Martin Ratio Rank: 70

IAU

IAU Risk / Return Rank: 34
IAU Sharpe Ratio Rank: 35
IAU Sortino Ratio Rank: 32
IAU Omega Ratio Rank: 39
IAU Calmar Ratio Rank: 35
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.

GCC vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity Strategy Fund (GCC) 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.

	GCC	IAU	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.24	+0.90
Sortino ratio: Return per unit of downside risk	2.61	1.63	+0.98
Omega ratio: Gain probability vs. loss probability	1.40	1.25	+0.15
Calmar ratio: Return relative to maximum drawdown	3.48	1.70	+1.78
Martin ratio: Return relative to average drawdown	12.70	4.18	+8.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCC vs. IAU - Sharpe Ratio Comparison

The current GCC Sharpe Ratio is 2.14, which is higher than the IAU Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of GCC 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

	GCC	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.24	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	1.04	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.84	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.63	-0.55

Drawdowns

GCC vs. IAU - Drawdown Comparison

The maximum GCC drawdown since its inception was -63.19%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for GCC and IAU.

Drawdown Indicators

	GCC	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-45.14%	-18.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-19.18%	+8.93%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-19.18%	+7.96%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-20.93%	-6.14%
Max Drawdown (10Y) Largest decline over 10 years	-32.93%	-21.82%	-11.11%
Current Drawdown Current decline from peak	-6.34%	-17.02%	+10.68%
Average Drawdown Average peak-to-trough decline	-34.90%	-15.96%	-18.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	7.79%	-4.99%

Volatility

GCC vs. IAU - Volatility Comparison

The current volatility for WisdomTree Enhanced Commodity Strategy Fund (GCC) is 4.61%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that GCC 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.

Volatility by Period

	GCC	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	5.50%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	14.81%	23.03%	-8.22%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	26.41%	-9.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	17.94%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	15.90%	-1.13%

GCC vs. IAU - Expense Ratio Comparison

GCC has a 0.55% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

GCC vs. IAU - Dividend Comparison

GCC's dividend yield for the trailing twelve months is around 5.66%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GCC WisdomTree Enhanced Commodity Strategy Fund	5.66%	6.64%	3.51%	3.68%	22.49%	9.76%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCC and IAU in my portfolio?

GCC and IAU have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCC or IAU?

IAU has higher volatility (5.50%) compared to GCC (4.61%). In terms of maximum drawdown, GCC dropped -63.19% vs IAU's -45.14%.

Which ETF is better, GCC or IAU?

On 10-year performance, IAU leads with 13.38% vs 6.59% for GCC. On fees, IAU is cheaper at 0.25% per year. On volatility, GCC has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GCC or IAU?

Over the 10-year period, IAU has performed better with a 13.38% return vs 6.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GCC or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.55% for GCC.

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

GCC has the higher dividend yield at 5.66%, compared with 0.00% for IAU.

What is the main difference between GCC and IAU?

GCC is categorized as Commodities, while IAU is Gold. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.55% for GCC and 0.25% for IAU.

Which has better risk-adjusted returns?

GCC currently has the higher Sharpe Ratio (2.14 vs 1.24), 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.