GLD vs. IAUM
GLD (SPDR Gold Shares) and IAUM (iShares Gold Trust Micro) are both Gold funds tracking the LBMA Gold Price PM, from State Street and iShares respectively. Both are passively managed. Over the past 3 years, GLD returned 27.10%/yr vs 27.50%/yr for IAUM. With a 1.00 correlation, they move nearly in lockstep. GLD charges 0.40%/yr vs 0.09%/yr for IAUM.
Performance
GLD vs. IAUM - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with GLD having a -7.67% return and IAUM slightly higher at -7.58%.
GLD
- 1D
- -3.02%
- 1M
- -11.58%
- YTD
- -7.67%
- 6M
- -11.17%
- 1Y
- 19.51%
- 3Y*
- 27.10%
- 5Y*
- 17.04%
- 10Y*
- 11.25%
IAUM
- 1D
- -3.05%
- 1M
- -11.57%
- YTD
- -7.58%
- 6M
- -11.04%
- 1Y
- 19.85%
- 3Y*
- 27.50%
- 5Y*
- —
- 10Y*
- —
GLD vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -7.67% | 63.68% | 26.66% | 12.69% | -0.77% | 2.63% |
IAUM iShares Gold Trust Micro | -7.58% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between GLD and IAUM is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 1.00 |
The correlation between GLD and IAUM has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLD vs. IAUM — Risk / Return Rank
GLD
IAUM
GLD vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and iShares Gold Trust Micro (IAUM). 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.
| GLD | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.76 | -0.02 |
| Martin ratioReturn relative to average drawdown | 2.12 | 2.16 | -0.05 |
Loading charts...
Drawdowns
GLD vs. IAUM - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, which is greater than IAUM's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for GLD and IAUM.
Loading charts...
Drawdown Indicators
| GLD | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -26.14% | -19.42% |
Max Drawdown (1Y)Largest decline over 1 year | -26.21% | -26.14% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -26.14% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.21% | — | — |
Current DrawdownCurrent decline from peak | -26.21% | -26.14% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -16.17% | -5.48% | -10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.24% | 9.20% | +0.04% |
Volatility
GLD vs. IAUM - Volatility Comparison
SPDR Gold Shares (GLD) and iShares Gold Trust Micro (IAUM) have volatilities of 8.58% and 8.54%, 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.
Loading charts...
Volatility by Period
| GLD | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 8.54% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 24.57% | 24.30% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.75% | 27.45% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 18.15% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 18.15% | -2.08% |
GLD vs. IAUM - Expense Ratio Comparison
GLD has a 0.40% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
GLD vs. IAUM - Dividend Comparison
Neither GLD nor IAUM has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, GLD and IAUM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GLD has higher volatility (8.58%) compared to IAUM (8.54%). In terms of maximum drawdown, GLD dropped -45.56% vs IAUM's -26.14%.
On 3-year performance, IAUM leads with 27.50% vs 27.10% for GLD. On fees, IAUM is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IAUM has performed better with a 27.50% return vs 27.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.40% for GLD.
GLD and IAUM have nearly identical dividend yields, around 0.00%.
Both ETFs track LBMA Gold Price PM. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for GLD and 0.09% for IAUM.
IAUM currently has the higher Sharpe Ratio (0.73 vs 0.71), 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.
Find the right allocation for GLD and IAUM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer