H2O.DE vs. IAU
H2O.DE (Enapter AG) is a stock, while IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price. Over the past 5 years, H2O.DE returned -44.30%/yr vs 18.93%/yr for IAU. At a 0.03 correlation, their price movements are largely independent.
Performance
H2O.DE vs. IAU - Performance Comparison
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Different Trading Currencies
H2O.DE is traded in EUR, while IAU is traded in USD. To make them comparable, the IAU values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, H2O.DE achieves a -16.72% return, which is significantly lower than IAU's 2.02% return.
H2O.DE
- 1D
- -4.05%
- 1M
- 16.39%
- YTD
- -16.72%
- 6M
- -34.86%
- 1Y
- -49.29%
- 3Y*
- -51.11%
- 5Y*
- -44.30%
- 10Y*
- —
IAU
- 1D
- -2.86%
- 1M
- -6.20%
- YTD
- 2.02%
- 6M
- 3.70%
- 1Y
- 27.48%
- 3Y*
- 26.55%
- 5Y*
- 18.93%
- 10Y*
- 12.81%
H2O.DE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
H2O.DE Enapter AG | -16.72% | -58.92% | -58.42% | -29.96% | -38.97% | -12.47% | -50.09% |
IAU iShares Gold Trust | 2.02% | 44.49% | 35.22% | 9.45% | 5.53% | 3.18% | -3.92% |
Correlation
The correlation between H2O.DE and IAU is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | 0.03 |
The correlation between H2O.DE and IAU shifts across timeframes, from -0.06 (1 year) to 0.04 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
H2O.DE vs. IAU — Risk / Return Rank
H2O.DE
IAU
H2O.DE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enapter AG (H2O.DE) 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.
| H2O.DE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.81 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.23 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 1.54 | -2.33 |
| Martin ratioReturn relative to average drawdown | -1.22 | 3.81 | -5.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| H2O.DE | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.80 | 1.10 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.89 | 1.14 | -2.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.77 | 0.65 | -1.42 |
Drawdowns
H2O.DE vs. IAU - Drawdown Comparison
The maximum H2O.DE drawdown since its inception was -98.00%, which is greater than IAU's maximum drawdown of -37.42%. Use the drawdown chart below to compare losses from any high point for H2O.DE and IAU.
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Drawdown Indicators
| H2O.DE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.00% | -37.42% | -60.58% |
Max Drawdown (1Y)Largest decline over 1 year | -63.67% | -17.90% | -45.77% |
Max Drawdown (3Y)Largest decline over 3 years | -91.68% | -17.90% | -73.78% |
Max Drawdown (5Y)Largest decline over 5 years | -96.32% | -17.90% | -78.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.61% | — |
Current DrawdownCurrent decline from peak | -97.39% | -17.90% | -79.49% |
Average DrawdownAverage peak-to-trough decline | -76.16% | -12.02% | -64.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.03% | 7.24% | +33.79% |
Volatility
H2O.DE vs. IAU - Volatility Comparison
Enapter AG (H2O.DE) has a higher volatility of 18.97% compared to iShares Gold Trust (IAU) at 4.62%. This indicates that H2O.DE's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H2O.DE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.97% | 4.62% | +14.35% |
Volatility (6M)Calculated over the trailing 6-month period | 35.77% | 21.86% | +13.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.47% | 25.16% | +37.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.20% | 16.68% | +32.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.41% | 14.89% | +46.52% |
Dividends
H2O.DE vs. IAU - Dividend Comparison
Neither H2O.DE nor IAU has paid dividends to shareholders.
Frequently Asked Questions
H2O.DE and IAU have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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