GLDN.AX vs. IKO.AX
GLDN.AX (Ishares Physical Gold ETF) and IKO.AX (iShares MSCI South Korea ETF (AU)) are both exchange-traded funds - GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index, while IKO.AX is a Global Equities fund tracking the iShares MSCI South Korea Index. Both are passively managed. Over the past year, GLDN.AX returned 10.80% vs 108.64% for IKO.AX. At a 0.01 correlation, their price movements are largely independent.
Performance
GLDN.AX vs. IKO.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 IKO.AX's 56.61% return.
GLDN.AX
- 1D
- -0.83%
- 1M
- -6.71%
- 6M
- -16.74%
- YTD
- -12.23%
- 1Y
- 10.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IKO.AX
- 1D
- -4.69%
- 1M
- -23.45%
- 6M
- 37.47%
- YTD
- 56.61%
- 1Y
- 108.64%
- 3Y*
- 35.31%
- 5Y*
- 15.55%
- 10Y*
- 14.32%
GLDN.AX vs. IKO.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GLDN.AX Ishares Physical Gold ETF | -12.23% | 55.11% | 38.15% | -3.32% |
IKO.AX iShares MSCI South Korea ETF (AU) | 56.61% | 80.87% | -12.63% | 14.40% |
Correlation
The correlation between GLDN.AX and IKO.AX is 0.09, 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 | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.01 |
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Return for Risk
GLDN.AX vs. IKO.AX — Risk / Return Rank
GLDN.AX
IKO.AX
GLDN.AX vs. IKO.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares Physical Gold ETF (GLDN.AX) and iShares MSCI South Korea ETF (AU) (IKO.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 | IKO.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 4.01 | -3.63 |
| Martin ratioReturn relative to average drawdown | 0.85 | 13.84 | -12.99 |
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Drawdowns
GLDN.AX vs. IKO.AX - Drawdown Comparison
The maximum GLDN.AX drawdown since its inception was -27.18%, smaller than the maximum IKO.AX drawdown of -57.74%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and IKO.AX.
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Drawdown Indicators
| GLDN.AX | IKO.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.18% | -57.74% | +30.56% |
Max Drawdown (1Y)Largest decline over 1 year | -27.18% | -25.76% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.76% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.50% | — |
Current DrawdownCurrent decline from peak | -27.18% | -25.76% | -1.42% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -17.29% | +12.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.56% | 7.57% | +4.99% |
Volatility
GLDN.AX vs. IKO.AX - Volatility Comparison
The current volatility for Ishares Physical Gold ETF (GLDN.AX) is 6.35%, while iShares MSCI South Korea ETF (AU) (IKO.AX) has a volatility of 21.96%. This indicates that GLDN.AX experiences smaller price fluctuations and is considered to be less risky than IKO.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 | IKO.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 21.96% | -15.61% |
Volatility (6M)Calculated over the trailing 6-month period | 21.72% | 42.76% | -21.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.13% | 45.79% | -20.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.55% | 27.07% | -7.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 23.43% | -3.88% |
Dividends
GLDN.AX vs. IKO.AX - Dividend Comparison
GLDN.AX has not paid dividends to shareholders, while IKO.AX's dividend yield for the trailing twelve months is around 6.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
IKO.AX iShares MSCI South Korea ETF (AU) | 6.14% | 0.93% | 3.03% | 1.08% | 1.86% | 0.87% | 1.84% | 1.44% | 0.00% | 0.75% | 1.85% | 1.07% |
Frequently Asked Questions
GLDN.AX and IKO.AX have a correlation of 0.09, 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 IKO.AX is Global Equities. GLDN.AX tracks LBMA Gold Price PM AUD Index, while IKO.AX tracks iShares MSCI South Korea Index.
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