HEZU vs. IAU
Compare and contrast key facts about iShares Currency Hedged MSCI Eurozone ETF (HEZU) and iShares Gold Trust (IAU).
HEZU and IAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEZU is a passively managed fund by iShares that tracks the performance of the MSCI EMU 100% USD Hedged Index. It was launched on Jul 9, 2014. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. Both HEZU and IAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HEZU vs. IAU - Performance Comparison
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HEZU vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 1.17% | 25.93% | 10.63% | 22.98% | -9.54% | 23.51% | 0.52% | 29.48% | -10.23% | 14.26% |
IAU iShares Gold Trust | 10.48% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Returns By Period
In the year-to-date period, HEZU achieves a 1.17% return, which is significantly lower than IAU's 10.48% return. Over the past 10 years, HEZU has underperformed IAU with an annualized return of 11.43%, while IAU has yielded a comparatively higher 14.27% annualized return.
HEZU
- 1D
- 1.30%
- 1M
- -3.80%
- YTD
- 1.17%
- 6M
- 4.77%
- 1Y
- 16.24%
- 3Y*
- 15.13%
- 5Y*
- 11.76%
- 10Y*
- 11.43%
IAU
- 1D
- 1.72%
- 1M
- -10.66%
- YTD
- 10.48%
- 6M
- 23.05%
- 1Y
- 52.36%
- 3Y*
- 33.88%
- 5Y*
- 22.19%
- 10Y*
- 14.27%
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HEZU vs. IAU - Expense Ratio Comparison
HEZU has a 0.52% expense ratio, which is higher than IAU's 0.25% expense ratio.
Return for Risk
HEZU vs. IAU — Risk / Return Rank
HEZU
IAU
HEZU vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Eurozone ETF (HEZU) 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.
| HEZU | IAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 1.90 | -1.00 |
Sortino ratioReturn per unit of downside risk | 1.34 | 2.33 | -0.99 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.72 | -1.25 |
Martin ratioReturn relative to average drawdown | 5.46 | 9.95 | -4.49 |
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
| HEZU | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 1.90 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.26 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.90 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.65 | -0.11 |
Correlation
The correlation between HEZU and IAU is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
HEZU vs. IAU - Dividend Comparison
HEZU's dividend yield for the trailing twelve months is around 2.89%, while IAU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 2.89% | 2.92% | 2.77% | 2.52% | 23.26% | 2.25% | 2.32% | 5.40% | 3.48% | 1.92% | 3.11% | 2.68% |
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HEZU vs. IAU - Drawdown Comparison
The maximum HEZU drawdown since its inception was -38.80%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for HEZU and IAU.
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Drawdown Indicators
| HEZU | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -45.14% | +6.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -19.18% | +7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.79% | -20.93% | -1.86% |
Max Drawdown (10Y)Largest decline over 10 years | -38.80% | -21.82% | -16.98% |
Current DrawdownCurrent decline from peak | -6.39% | -11.71% | +5.32% |
Average DrawdownAverage peak-to-trough decline | -5.89% | -15.98% | +10.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 5.23% | -2.09% |
Volatility
HEZU vs. IAU - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI Eurozone ETF (HEZU) is 6.56%, while iShares Gold Trust (IAU) has a volatility of 10.44%. This indicates that HEZU experiences smaller price fluctuations and is considered to be less risky 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
| HEZU | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.56% | 10.44% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 24.15% | -13.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 27.64% | -9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.22% | 17.70% | -1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 15.83% | +2.54% |