IAT vs. IAU
IAT (iShares U.S. Regional Banks ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IAT is a Financials Equities fund tracking the Dow Jones U.S. Select Regional Banks Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IAT returned 9.79%/yr vs 11.42%/yr for IAU. At a correlation of -0.04, they often move in opposite directions. IAT charges 0.42%/yr vs 0.25%/yr for IAU.
Performance
IAT vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IAT achieves a 12.53% return, which is significantly higher than IAU's -7.61% return. Over the past 10 years, IAT has underperformed IAU with an annualized return of 9.79%, while IAU has yielded a comparatively higher 11.42% annualized return.
IAT
- 1D
- 0.49%
- 1M
- 7.77%
- YTD
- 12.53%
- 6M
- 9.84%
- 1Y
- 30.78%
- 3Y*
- 27.72%
- 5Y*
- 4.07%
- 10Y*
- 9.79%
IAU
- 1D
- -3.03%
- 1M
- -11.58%
- YTD
- -7.61%
- 6M
- -11.09%
- 1Y
- 19.64%
- 3Y*
- 27.30%
- 5Y*
- 17.22%
- 10Y*
- 11.42%
IAT vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 12.53% | 13.05% | 24.36% | -8.53% | -20.61% | 38.89% | -7.60% | 31.38% | -17.45% | 10.42% |
IAU iShares Gold Trust | -7.61% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between IAT and IAU is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | -0.04 |
The correlation between IAT and IAU shifts across timeframes, from -0.07 (10 years) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAT vs. IAU — Risk / Return Rank
IAT
IAU
IAT vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.
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.
| IAT | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.15 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 0.75 | +1.01 |
| Martin ratioReturn relative to average drawdown | 4.49 | 2.14 | +2.36 |
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Drawdowns
IAT vs. IAU - Drawdown Comparison
The maximum IAT drawdown since its inception was -77.22%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IAT and IAU.
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Drawdown Indicators
| IAT | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.22% | -45.14% | -32.08% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -26.17% | +8.68% |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | -26.17% | -3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -55.55% | -26.17% | -29.38% |
Max Drawdown (10Y)Largest decline over 10 years | -55.55% | -26.17% | -29.38% |
Current DrawdownCurrent decline from peak | -1.21% | -26.17% | +24.96% |
Average DrawdownAverage peak-to-trough decline | -26.91% | -15.98% | -10.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.87% | 9.21% | -2.34% |
Volatility
IAT vs. IAU - Volatility Comparison
The current volatility for iShares U.S. Regional Banks ETF (IAT) is 6.82%, while iShares Gold Trust (IAU) has a volatility of 8.50%. This indicates that IAT 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
| IAT | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.82% | 8.50% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 16.15% | 24.42% | -8.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.95% | 27.55% | -5.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.96% | 18.24% | +10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.73% | 16.01% | +14.72% |
IAT vs. IAU - Expense Ratio Comparison
IAT has a 0.42% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
IAT vs. IAU - Dividend Comparison
IAT's dividend yield for the trailing twelve months is around 2.64%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 2.64% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
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% |
Frequently Asked Questions
IAT and IAU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (8.50%) compared to IAT (6.82%). In terms of maximum drawdown, IAT dropped -77.22% vs IAU's -45.14%.
On 10-year performance, IAU leads with 11.42% vs 9.79% for IAT. On fees, IAU is cheaper at 0.25% per year. On volatility, IAT has been the lower-risk option at 6.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAU has performed better with a 11.42% return vs 9.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU is cheaper with a 0.25% expense ratio, compared with 0.42% for IAT.
IAT has the higher dividend yield at 2.64%, compared with 0.00% for IAU.
IAT is categorized as Financials Equities, while IAU is Gold. IAT tracks Dow Jones U.S. Select Regional Banks Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.42% for IAT and 0.25% for IAU.
IAT currently has the higher Sharpe Ratio (1.41 vs 0.72), 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.
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