IAK vs. NERD

Last updated Jun 13, 2026

IAK (iShares U.S. Insurance ETF) and NERD (Roundhill Video Games ETF) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while NERD is a Gaming fund actively managed by Roundhill Investments. IAK is passively managed, while NERD is actively managed. Over the past 5 years, IAK returned 13.37%/yr vs -8.51%/yr for NERD. At a 0.27 correlation, their price movements are largely independent. IAK charges 0.43%/yr vs 0.50%/yr for NERD.

Performance

IAK vs. NERD - Performance Comparison

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

Returns By Period

In the year-to-date period, IAK achieves a 1.11% return, which is significantly higher than NERD's -18.01% return.

IAK

• 1D: 0.68%
• 1M: 4.20%
• YTD: 1.11%
• 6M: 0.88%
• 1Y: 4.33%
• 3Y*: 18.27%
• 5Y*: 13.37%
• 10Y*: 12.67%

NERD

• 1D: -0.41%
• 1M: -4.10%
• YTD: -18.01%
• 6M: -19.37%
• 1Y: -21.50%
• 3Y*: 9.13%
• 5Y*: -8.51%
• 10Y*: —

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

IAK vs. NERD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IAK iShares U.S. Insurance ETF	1.11%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	5.34%
NERD Roundhill Video Games ETF	-18.01%	23.14%	28.52%	12.94%	-43.30%	-17.57%	89.66%	8.14%

Correlation

The correlation between IAK and NERD is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.27

Over the past year, the correlation between IAK and NERD has dropped to 0.03 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

IAK vs. NERD - Sectors Allocation Comparison

Sectors	IAK	NERD
Financial Services	99.5%	0.0%
Healthcare	0.5%	-
Basic Materials	-	-
Communication Services	-	91.1%
Consumer Cyclical	-	3.9%
Consumer Defensive	-	-
Energy	-	-
Industrials	-	1.2%
Real Estate	-	-
Technology	-	3.9%
Utilities	-	-

Return for Risk

IAK vs. NERD — Risk / Return Rank

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

IAK

IAK Risk / Return Rank: 15
IAK Sharpe Ratio Rank: 14
IAK Sortino Ratio Rank: 13
IAK Omega Ratio Rank: 13
IAK Calmar Ratio Rank: 17
IAK Martin Ratio Rank: 16

NERD

NERD Risk / Return Rank: 2
NERD Sharpe Ratio Rank: 1
NERD Sortino Ratio Rank: 2
NERD Omega Ratio Rank: 2
NERD Calmar Ratio Rank: 4
NERD Martin Ratio Rank: 3

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.

IAK vs. NERD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Roundhill Video Games ETF (NERD). 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.

	IAK	NERD	Difference
Sharpe ratio: Return per unit of total volatility	0.29	-1.09	+1.38
Sortino ratio: Return per unit of downside risk	0.50	-1.50	+2.00
Omega ratio: Gain probability vs. loss probability	1.06	0.83	+0.23
Calmar ratio: Return relative to maximum drawdown	0.57	-0.69	+1.26
Martin ratio: Return relative to average drawdown	1.27	-1.23	+2.50

IAK vs. NERD - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.29, which is higher than the NERD Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of IAK and NERD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IAK vs. NERD - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than NERD's maximum drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for IAK and NERD.

Drawdown Indicators

	IAK	NERD	Difference
Max Drawdown Largest peak-to-trough decline	-77.38%	-65.58%	-11.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-31.19%	+23.57%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-31.19%	+19.61%
Max Drawdown (5Y) Largest decline over 5 years	-14.76%	-58.92%	+44.16%
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	—	—
Current Drawdown Current decline from peak	-0.23%	-46.82%	+46.59%
Average Drawdown Average peak-to-trough decline	-16.11%	-35.92%	+19.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	17.50%	-14.09%

Volatility

IAK vs. NERD - Volatility Comparison

iShares U.S. Insurance ETF (IAK) has a higher volatility of 5.49% compared to Roundhill Video Games ETF (NERD) at 4.21%. This indicates that IAK's price experiences larger fluctuations and is considered to be riskier than NERD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAK	NERD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	4.21%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	15.00%	-4.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.10%	19.77%	-4.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.14%	24.51%	-6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	25.49%	-4.57%

IAK vs. NERD - Expense Ratio Comparison

IAK has a 0.43% expense ratio, which is lower than NERD's 0.50% expense ratio.

Dividends

IAK vs. NERD - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.60%, more than NERD's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.60%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
NERD Roundhill Video Games ETF	0.77%	0.63%	1.74%	1.07%	0.69%	0.02%	1.05%	0.31%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAK and NERD in my portfolio?

IAK and NERD have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAK or NERD?

IAK has higher volatility (5.49%) compared to NERD (4.21%). In terms of maximum drawdown, IAK dropped -77.38% vs NERD's -65.58%.

Which ETF is better, IAK or NERD?

On 5-year performance, IAK leads with 13.37% vs -8.51% for NERD. On fees, IAK is cheaper at 0.43% per year. On volatility, NERD has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAK or NERD?

Over the 5-year period, IAK has performed better with a 13.37% return vs -8.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAK or NERD?

IAK is cheaper with a 0.43% expense ratio, compared with 0.50% for NERD.

Which ETF pays a higher dividend yield, IAK or NERD?

IAK has the higher dividend yield at 2.60%, compared with 0.77% for NERD.

What is the main difference between IAK and NERD?

IAK is categorized as Financials Equities, while NERD is Gaming. They also come from different issuers: iShares and Roundhill Investments. Their fees differ too: 0.43% for IAK and 0.50% for NERD.

Which has better risk-adjusted returns?

IAK currently has the higher Sharpe Ratio (0.29 vs -1.09), 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.