GLDN.AX vs. IAA.AX
GLDN.AX (Ishares Physical Gold ETF) and IAA.AX (iShares Asia 50 ETF (AU)) are both exchange-traded funds - GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index, while IAA.AX is a Global Equities fund tracking the iShares Asia 50 Index. Both are passively managed. Over the past year, GLDN.AX returned 10.80% vs 48.36% for IAA.AX. At a correlation of -0.01, they often move in opposite directions.
Performance
GLDN.AX vs. IAA.AX - Performance Comparison
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Returns By Period
In the year-to-date period, GLDN.AX achieves a -12.23% return, which is significantly lower than IAA.AX's 26.96% return.
GLDN.AX
- 1D
- -0.83%
- 1M
- -6.71%
- 6M
- -16.74%
- YTD
- -12.23%
- 1Y
- 10.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAA.AX
- 1D
- -6.06%
- 1M
- -10.93%
- 6M
- 16.30%
- YTD
- 26.96%
- 1Y
- 48.36%
- 3Y*
- 28.73%
- 5Y*
- 10.89%
- 10Y*
- 13.80%
GLDN.AX vs. IAA.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GLDN.AX Ishares Physical Gold ETF | -12.23% | 55.11% | 38.15% | -3.32% |
IAA.AX iShares Asia 50 ETF (AU) | 26.96% | 36.38% | 29.68% | 0.89% |
Correlation
The correlation between GLDN.AX and IAA.AX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | -0.01 |
The correlation between GLDN.AX and IAA.AX shifts across timeframes, from -0.01 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDN.AX vs. IAA.AX — Risk / Return Rank
GLDN.AX
IAA.AX
GLDN.AX vs. IAA.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares Physical Gold ETF (GLDN.AX) and iShares Asia 50 ETF (AU) (IAA.AX). 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.
| GLDN.AX | IAA.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.31 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 3.21 | -2.82 |
| Martin ratioReturn relative to average drawdown | 0.85 | 11.22 | -10.37 |
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Drawdowns
GLDN.AX vs. IAA.AX - Drawdown Comparison
The maximum GLDN.AX drawdown since its inception was -27.18%, smaller than the maximum IAA.AX drawdown of -44.90%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and IAA.AX.
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Drawdown Indicators
| GLDN.AX | IAA.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.18% | -44.90% | +17.72% |
Max Drawdown (1Y)Largest decline over 1 year | -27.18% | -14.31% | -12.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.90% | — |
Current DrawdownCurrent decline from peak | -27.18% | -14.31% | -12.87% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -10.35% | +5.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.56% | 4.18% | +8.38% |
Volatility
GLDN.AX vs. IAA.AX - Volatility Comparison
The current volatility for Ishares Physical Gold ETF (GLDN.AX) is 6.35%, while iShares Asia 50 ETF (AU) (IAA.AX) has a volatility of 14.55%. This indicates that GLDN.AX experiences smaller price fluctuations and is considered to be less risky than IAA.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDN.AX | IAA.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 14.55% | -8.20% |
Volatility (6M)Calculated over the trailing 6-month period | 21.72% | 24.36% | -2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.13% | 26.53% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 22.20% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 19.43% | +0.12% |
Dividends
GLDN.AX vs. IAA.AX - Dividend Comparison
GLDN.AX has not paid dividends to shareholders, while IAA.AX's dividend yield for the trailing twelve months is around 1.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GLDN.AX Ishares Physical Gold ETF | 0.00% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IAA.AX iShares Asia 50 ETF (AU) | 1.06% | 2.16% | 0.44% | 1.36% | 3.40% | 1.68% | 1.18% | 4.31% | 0.48% | 1.28% | 1.78% |
Frequently Asked Questions
GLDN.AX and IAA.AX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDN.AX is categorized as Gold, while IAA.AX is Global Equities. GLDN.AX tracks LBMA Gold Price PM AUD Index, while IAA.AX tracks iShares Asia 50 Index.
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