GLMD vs. IAK

Last updated Jun 3, 2026

GLMD (Galmed Pharmaceuticals Ltd.) is a stock, while IAK (iShares U.S. Insurance ETF) is Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Over the past 10 years, GLMD returned -50.21%/yr vs 11.76%/yr for IAK. At a 0.09 correlation, their price movements are largely independent.

Performance

GLMD vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Galmed Pharmaceuticals Ltd. (GLMD) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLMD achieves a -7.91% return, which is significantly lower than IAK's -3.71% return. Over the past 10 years, GLMD has underperformed IAK with an annualized return of -50.21%, while IAK has yielded a comparatively higher 11.76% annualized return.

GLMD

• 1D: -4.96%
• 1M: 21.01%
• YTD: -7.91%
• 6M: -27.93%
• 1Y: -52.34%
• 3Y*: -77.01%
• 5Y*: -73.13%
• 10Y*: -50.21%

IAK

• 1D: 0.76%
• 1M: -2.20%
• YTD: -3.71%
• 6M: -1.09%
• 1Y: -3.43%
• 3Y*: 17.08%
• 5Y*: 11.73%
• 10Y*: 11.76%

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

GLMD vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLMD Galmed Pharmaceuticals Ltd.	-7.91%	-76.47%	-41.58%	-93.93%	-72.53%	-41.48%	-46.19%	-15.37%	-25.36%	160.68%
IAK iShares U.S. Insurance ETF	-3.71%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	25.94%	-11.48%	14.18%

Correlation

The correlation between GLMD and IAK is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Mar 14, 2014	0.09

The correlation between GLMD and IAK shifts across timeframes, from -0.07 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GLMD vs. IAK — Risk / Return Rank

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

GLMD

GLMD Risk / Return Rank: 17
GLMD Sharpe Ratio Rank: 14
GLMD Sortino Ratio Rank: 17
GLMD Omega Ratio Rank: 18
GLMD Calmar Ratio Rank: 17
GLMD Martin Ratio Rank: 21

IAK

IAK Risk / Return Rank: 6
IAK Sharpe Ratio Rank: 7
IAK Sortino Ratio Rank: 6
IAK Omega Ratio Rank: 6
IAK Calmar Ratio Rank: 5
IAK Martin Ratio Rank: 5

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.

GLMD vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Galmed Pharmaceuticals Ltd. (GLMD) and iShares U.S. Insurance ETF (IAK). 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.

	GLMD	IAK	Difference
Sharpe ratio Return per unit of total volatility	-0.61	-0.23	-0.37
Sortino ratio Return per unit of downside risk	-0.63	-0.22	-0.41
Omega ratio Gain probability vs. loss probability	0.93	0.97	-0.04
Calmar ratio Return relative to maximum drawdown	-0.65	-0.33	-0.32
Martin ratio Return relative to average drawdown	-0.93	-0.67	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLMD vs. IAK - Sharpe Ratio Comparison

The current GLMD Sharpe Ratio is -0.61, which is lower than the IAK Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of GLMD and IAK, 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

	GLMD	IAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	-0.23	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.65	-1.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.37	0.56	-0.93
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	0.26	-0.64

Drawdowns

GLMD vs. IAK - Drawdown Comparison

The maximum GLMD drawdown since its inception was -99.99%, which is greater than IAK's maximum drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for GLMD and IAK.

Drawdown Indicators

	GLMD	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-77.38%	-22.61%
Max Drawdown (1Y) Largest decline over 1 year	-79.62%	-7.98%	-71.64%
Max Drawdown (3Y) Largest decline over 3 years	-99.16%	-11.58%	-87.58%
Max Drawdown (5Y) Largest decline over 5 years	-99.93%	-14.76%	-85.17%
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	-44.95%	-55.04%
Current Drawdown Current decline from peak	-99.98%	-4.98%	-95.00%
Average Drawdown Average peak-to-trough decline	-74.34%	-16.14%	-58.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.31%	4.01%	+51.30%

Volatility

GLMD vs. IAK - Volatility Comparison

Galmed Pharmaceuticals Ltd. (GLMD) has a higher volatility of 25.26% compared to iShares U.S. Insurance ETF (IAK) at 3.80%. This indicates that GLMD's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLMD	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.26%	3.80%	+21.46%
Volatility (6M) Calculated over the trailing 6-month period	62.71%	9.98%	+52.73%
Volatility (1Y) Calculated over the trailing 1-year period	86.30%	14.76%	+71.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	166.32%	18.07%	+148.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	137.60%	20.89%	+116.71%

Dividends

GLMD vs. IAK - Dividend Comparison

GLMD has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLMD Galmed Pharmaceuticals Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IAK iShares U.S. Insurance ETF	2.73%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%

Frequently Asked Questions

Can I hold both GLMD and IAK in my portfolio?

GLMD and IAK have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLMD or IAK?

GLMD has higher volatility (25.26%) compared to IAK (3.80%). In terms of maximum drawdown, GLMD dropped -99.99% vs IAK's -77.38%.

Which has better risk-adjusted returns?

IAK currently has the higher Sharpe Ratio (-0.23 vs -0.61), 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.