IAI vs. GS

Last updated Jun 4, 2026

IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) is Financials Equities fund tracking the DJ US Select / Investment Services, while GS (The Goldman Sachs Group, Inc.) is a stock. Over the past 10 years, IAI returned 18.46%/yr vs 23.44%/yr for GS. Their correlation of 0.82 suggests significant overlap in exposure.

Performance

IAI vs. GS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and The Goldman Sachs Group, Inc. (GS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAI achieves a 0.24% return, which is significantly lower than GS's 19.58% return. Over the past 10 years, IAI has underperformed GS with an annualized return of 18.46%, while GS has yielded a comparatively higher 23.44% annualized return.

IAI

• 1D: -1.71%
• 1M: 1.75%
• YTD: 0.24%
• 6M: 1.73%
• 1Y: 16.52%
• 3Y*: 27.84%
• 5Y*: 13.43%
• 10Y*: 18.46%

GS

• 1D: -2.21%
• 1M: 15.76%
• YTD: 19.58%
• 6M: 25.65%
• 1Y: 75.87%
• 3Y*: 51.11%
• 5Y*: 24.59%
• 10Y*: 23.44%

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

IAI vs. GS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	0.24%	25.80%	34.37%	15.27%	-10.87%	40.48%	18.61%	24.26%	-9.47%	28.86%
GS The Goldman Sachs Group, Inc.	19.58%	56.64%	52.03%	15.91%	-7.87%	47.61%	17.45%	40.48%	-33.53%	7.73%

Correlation

The correlation between IAI and GS is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 8, 2006	0.82

The correlation between IAI and GS has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

Return for Risk

IAI vs. GS — Risk / Return Rank

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

IAI

IAI Risk / Return Rank: 23
IAI Sharpe Ratio Rank: 24
IAI Sortino Ratio Rank: 23
IAI Omega Ratio Rank: 23
IAI Calmar Ratio Rank: 22
IAI Martin Ratio Rank: 23

GS

GS Risk / Return Rank: 90
GS Sharpe Ratio Rank: 93
GS Sortino Ratio Rank: 91
GS Omega Ratio Rank: 90
GS Calmar Ratio Rank: 87
GS Martin Ratio Rank: 91

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.

IAI vs. GS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and The Goldman Sachs Group, Inc. (GS). 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.

	IAI	GS	Difference
Sharpe ratio Return per unit of total volatility	0.87	2.80	-1.93
Sortino ratio Return per unit of downside risk	1.27	3.42	-2.15
Omega ratio Gain probability vs. loss probability	1.16	1.45	-0.29
Calmar ratio Return relative to maximum drawdown	1.00	3.93	-2.92
Martin ratio Return relative to average drawdown	2.88	13.17	-10.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAI vs. GS - Sharpe Ratio Comparison

The current IAI Sharpe Ratio is 0.87, which is lower than the GS Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of IAI and GS, 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

	IAI	GS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.80	-1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.89	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.79	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.33	-0.05

Drawdowns

IAI vs. GS - Drawdown Comparison

The maximum IAI drawdown since its inception was -75.46%, roughly equal to the maximum GS drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for IAI and GS.

Drawdown Indicators

	IAI	GS	Difference
Max Drawdown Largest peak-to-trough decline	-75.46%	-78.84%	+3.38%
Max Drawdown (1Y) Largest decline over 1 year	-16.52%	-19.42%	+2.90%
Max Drawdown (3Y) Largest decline over 3 years	-23.14%	-30.90%	+7.76%
Max Drawdown (5Y) Largest decline over 5 years	-28.84%	-32.84%	+4.00%
Max Drawdown (10Y) Largest decline over 10 years	-40.38%	-48.75%	+8.37%
Current Drawdown Current decline from peak	-5.57%	-2.21%	-3.36%
Average Drawdown Average peak-to-trough decline	-22.66%	-22.63%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	5.78%	-0.03%

Volatility

IAI vs. GS - Volatility Comparison

The current volatility for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is 4.48%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 8.10%. This indicates that IAI experiences smaller price fluctuations and is considered to be less risky than GS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAI	GS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	8.10%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	14.92%	22.06%	-7.14%
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	27.25%	-8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.42%	27.86%	-6.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.84%	29.76%	-6.92%

Dividends

IAI vs. GS - Dividend Comparison

IAI's dividend yield for the trailing twelve months is around 1.08%, less than GS's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GS The Goldman Sachs Group, Inc.	1.63%	1.59%	2.01%	2.72%	2.62%	1.70%	1.90%	1.80%	1.89%	1.14%	1.09%	1.41%
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.08%	0.95%	1.05%	1.80%	2.14%	1.31%	1.55%	1.52%	1.58%	1.37%	1.49%	1.31%

Frequently Asked Questions

Can I hold both IAI and GS in my portfolio?

IAI and GS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAI or GS?

GS has higher volatility (8.10%) compared to IAI (4.48%). In terms of maximum drawdown, IAI dropped -75.46% vs GS's -78.84%.

Which has better risk-adjusted returns?

GS currently has the higher Sharpe Ratio (2.80 vs 0.87), 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.