IAF.AX vs. GLDN.AX
IAF.AX (iShares Core Composite Bond ETF) and GLDN.AX (Ishares Physical Gold ETF) are both exchange-traded funds - IAF.AX is a Total Bond Market fund tracking the iShares Core Composite Bond Index, while GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index. Both are passively managed. Over the past year, IAF.AX returned 1.75% vs 12.58% for GLDN.AX. At a 0.15 correlation, their price movements are largely independent.
Performance
IAF.AX vs. GLDN.AX - Performance Comparison
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Returns By Period
In the year-to-date period, IAF.AX achieves a 2.02% return, which is significantly higher than GLDN.AX's -11.15% return.
IAF.AX
- 1D
- 0.16%
- 1M
- 0.16%
- 6M
- 1.37%
- YTD
- 2.02%
- 1Y
- 1.75%
- 3Y*
- 3.60%
- 5Y*
- -0.06%
- 10Y*
- 1.53%
GLDN.AX
- 1D
- 0.24%
- 1M
- -4.83%
- 6M
- -16.42%
- YTD
- -11.15%
- 1Y
- 12.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAF.AX vs. GLDN.AX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IAF.AX iShares Core Composite Bond ETF | 2.02% | 2.97% | 2.70% | 5.84% |
GLDN.AX Ishares Physical Gold ETF | -11.15% | 55.11% | 38.15% | -3.32% |
Correlation
The correlation between IAF.AX and GLDN.AX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.15 |
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Return for Risk
IAF.AX vs. GLDN.AX — Risk / Return Rank
IAF.AX
GLDN.AX
IAF.AX vs. GLDN.AX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Composite Bond ETF (IAF.AX) and Ishares Physical Gold ETF (GLDN.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.
| IAF.AX | GLDN.AX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.12 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 0.46 | +0.05 |
| Martin ratioReturn relative to average drawdown | 1.09 | 1.00 | +0.09 |
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Drawdowns
IAF.AX vs. GLDN.AX - Drawdown Comparison
The maximum IAF.AX drawdown since its inception was -15.62%, smaller than the maximum GLDN.AX drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for IAF.AX and GLDN.AX.
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Drawdown Indicators
| IAF.AX | GLDN.AX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.62% | -26.62% | +11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.57% | -26.62% | +23.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.62% | — | — |
Current DrawdownCurrent decline from peak | -1.92% | -26.28% | +24.36% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -5.16% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 12.44% | -10.72% |
Volatility
IAF.AX vs. GLDN.AX - Volatility Comparison
The current volatility for iShares Core Composite Bond ETF (IAF.AX) is 0.68%, while Ishares Physical Gold ETF (GLDN.AX) has a volatility of 6.35%. This indicates that IAF.AX experiences smaller price fluctuations and is considered to be less risky than GLDN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAF.AX | GLDN.AX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 6.35% | -5.67% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 21.71% | -19.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 25.11% | -21.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 19.55% | -14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.33% | 19.55% | -15.22% |
Dividends
IAF.AX vs. GLDN.AX - Dividend Comparison
IAF.AX's dividend yield for the trailing twelve months is around 3.15%, while GLDN.AX has not paid dividends to shareholders.
| 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% |
IAF.AX iShares Core Composite Bond ETF | 3.15% | 2.99% | 2.78% | 1.51% | 1.57% | 1.63% | 1.59% | 2.21% | 2.28% | 2.30% | 2.47% | 3.62% |
Frequently Asked Questions
IAF.AX and GLDN.AX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAF.AX is categorized as Total Bond Market, while GLDN.AX is Gold. IAF.AX tracks iShares Core Composite Bond Index, while GLDN.AX tracks LBMA Gold Price PM AUD Index.
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