IAK vs. VPU

Last updated Jul 26, 2026

IAK (iShares U.S. Insurance ETF) and VPU (Vanguard Utilities ETF) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index. Both are passively managed. Over the past 10 years, IAK returned 13.33%/yr vs 9.11%/yr for VPU. Their 0.45 correlation means their historical movements had little consistent relationship. IAK charges 0.38%/yr vs 0.09%/yr for VPU.

Performance

IAK vs. VPU - Performance Comparison

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

Returns By Period

In the year-to-date period, IAK achieves a 10.81% return, which is significantly higher than VPU's 9.23% return. Over the past 10 years, IAK has outperformed VPU with an annualized return of 13.33%, while VPU has yielded a comparatively lower 9.11% annualized return.

IAK

• 1D: 2.11%
• 1M: 7.61%
• 6M: 16.12%
• YTD: 10.81%
• 1Y: 17.49%
• 3Y*: 20.39%
• 5Y*: 16.26%
• 10Y*: 13.33%
• ALL TIME*: 7.43%

VPU

• 1D: 0.02%
• 1M: 0.66%
• 6M: 9.17%
• YTD: 9.23%
• 1Y: 12.20%
• 3Y*: 13.78%
• 5Y*: 10.11%
• 10Y*: 9.11%
• ALL TIME*: 9.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IAK iShares U.S. Insurance ETF	$21.27M	$20.97M	$10.82M
VPU Vanguard Utilities ETF	$39.94M	$42.60M	$42.54M

IAK vs. VPU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAK iShares U.S. Insurance ETF	10.81%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	25.94%	-11.48%	14.18%
VPU Vanguard Utilities ETF	9.23%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%

Correlation

The correlation between IAK and VPU is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.38
Correlation (All Time) Calculated using the full available price history since May 5, 2006	0.45

Over the past year, the correlation between IAK and VPU has dropped to 0.23 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

IAK vs. VPU - Sectors Allocation Comparison

Sectors	IAK	VPU
Financial Services	99.3%	-
Healthcare	0.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.4%
Industrials	-	0.2%
Real Estate	-	-
Technology	-	-
Utilities	-	99.0%

Return for Risk

IAK vs. VPU — Risk / Return Rank

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

IAK

IAK Risk / Return Rank: 52
IAK Sharpe Ratio Rank: 48
IAK Sortino Ratio Rank: 48
IAK Omega Ratio Rank: 46
IAK Calmar Ratio Rank: 68
IAK Martin Ratio Rank: 51

VPU

VPU Risk / Return Rank: 34
VPU Sharpe Ratio Rank: 35
VPU Sortino Ratio Rank: 33
VPU Omega Ratio Rank: 32
VPU Calmar Ratio Rank: 40
VPU Martin Ratio Rank: 32

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. VPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Vanguard Utilities ETF (VPU). 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	VPU	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.85	+0.30
Sortino ratio: Return per unit of downside risk	1.70	1.24	+0.46
Omega ratio: Gain probability vs. loss probability	1.21	1.15	+0.05
Calmar ratio: Return relative to maximum drawdown	2.41	1.41	+1.00
Martin ratio: Return relative to average drawdown	5.86	2.92	+2.94

IAK vs. VPU - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 1.16, which is higher than the VPU Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of IAK and VPU, 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. VPU - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than VPU's maximum drawdown of -46.31%. Use the drawdown chart below to compare losses from any high point for IAK and VPU.

Drawdown Indicators

	IAK	VPU	Difference
Max Drawdown Largest peak-to-trough decline	-77.38%	-46.31%	-31.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-8.90%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-15.78%	+4.20%
Max Drawdown (5Y) Largest decline over 5 years	-14.76%	-25.15%	+10.39%
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	-36.42%	-8.53%
Current Drawdown Current decline from peak	0.00%	-1.82%	+1.82%
Average Drawdown Average peak-to-trough decline	-16.03%	-7.76%	-8.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	4.28%	-1.15%

Volatility

IAK vs. VPU - Volatility Comparison

iShares U.S. Insurance ETF (IAK) has a higher volatility of 7.15% compared to Vanguard Utilities ETF (VPU) at 4.49%. This indicates that IAK's price experiences larger fluctuations and is considered to be riskier than VPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAK	VPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.15%	4.49%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	11.68%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	14.64%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.09%	17.05%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.90%	19.15%	+1.75%

IAK vs. VPU - Expense Ratio Comparison

IAK has a 0.38% expense ratio, which is higher than VPU's 0.09% expense ratio.

Dividends

IAK vs. VPU - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.41%, less than VPU's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.41%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
VPU Vanguard Utilities ETF	2.59%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both IAK and VPU in my portfolio?

IAK and VPU have a correlation of 0.23, 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 VPU?

IAK has higher volatility (7.15%) compared to VPU (4.49%). In terms of maximum drawdown, IAK dropped -77.38% vs VPU's -46.31%.

Which ETF is better, IAK or VPU?

On 10-year performance, IAK leads with 13.33% vs 9.11% for VPU. On fees, VPU is cheaper at 0.09% per year. On volatility, VPU has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAK or VPU?

Over the 10-year period, IAK has performed better with a 13.33% return vs 9.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAK or VPU?

VPU is cheaper with a 0.09% expense ratio, compared with 0.38% for IAK.

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

VPU has the higher dividend yield at 2.59%, compared with 2.41% for IAK.

What is the main difference between IAK and VPU?

IAK is categorized as Financials Equities, while VPU is Utilities Equities. IAK tracks Dow Jones U.S. Select Insurance Index, while VPU tracks MSCI US Investable Market Utilities 25/50 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.38% for IAK and 0.09% for VPU.

Which has better risk-adjusted returns?

IAK currently has the higher Sharpe Ratio (1.16 vs 0.85), 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.