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IAU vs. AU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAU vs. AU

Last updated Jun 13, 2026

IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while AU (AngloGold Ashanti Limited) is a stock. Over the past 10 years, IAU returned 12.31%/yr vs 20.46%/yr for AU. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

IAU vs. AU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust (IAU) and AngloGold Ashanti Limited (AU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAU achieves a -2.44% return, which is significantly lower than AU's 4.15% return. Over the past 10 years, IAU has underperformed AU with an annualized return of 12.31%, while AU has yielded a comparatively higher 20.46% annualized return.

IAU

1D
0.08%
1M
-10.21%
YTD
-2.44%
6M
-2.22%
1Y
23.95%
3Y*
29.07%
5Y*
17.23%
10Y*
12.31%

AU

1D
3.75%
1M
-14.67%
YTD
4.15%
6M
7.11%
1Y
86.54%
3Y*
58.20%
5Y*
35.46%
10Y*
20.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAU vs. AU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAU
iShares Gold Trust		-2.44%63.95%26.85%12.84%-0.63%-4.00%25.03%17.98%-1.76%12.91%
AU
AngloGold Ashanti Limited		4.15%288.18%25.43%-2.68%-5.09%-4.87%1.90%78.89%23.96%-2.23%

Correlation

The correlation between IAU and AU is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.70

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2005

0.64

The correlation between IAU and AU has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Trust

AngloGold Ashanti Limited

Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS
Often compared with AU:
AU vs. GFIAU vs. NEMAU vs. VOOAU vs. CDEAU vs. GEVAU vs. SPYAU vs. BTC-USD

Return for Risk

IAU vs. AU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAU
IAU Risk / Return Rank: 2626
Overall Rank
IAU Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 2525
Sortino Ratio Rank
IAU Omega Ratio Rank: 3030
Omega Ratio Rank
IAU Calmar Ratio Rank: 2424
Calmar Ratio Rank
IAU Martin Ratio Rank: 2424
Martin Ratio Rank
AU
AU Risk / Return Rank: 7979
Overall Rank
AU Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
AU Sortino Ratio Rank: 7777
Sortino Ratio Rank
AU Omega Ratio Rank: 7777
Omega Ratio Rank
AU Calmar Ratio Rank: 8080
Calmar Ratio Rank
AU Martin Ratio Rank: 8181
Martin Ratio Rank
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.

IAU vs. AU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and AngloGold Ashanti Limited (AU). 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.

IAUAUDifference
Sharpe ratioReturn per unit of total volatility
0.89
1.50

-0.61

Sortino ratioReturn per unit of downside risk
1.25
1.95

-0.71

Omega ratioGain probability vs. loss probability

1.19

1.26

-0.07

Calmar ratioReturn relative to maximum drawdown

0.99

2.35

-1.36

Martin ratioReturn relative to average drawdown

2.83

6.18

-3.35

IAU vs. AU - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 0.89, which is lower than the AU Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of IAU and AU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IAU vs. AU - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum AU drawdown of -90.12%. Use the drawdown chart below to compare losses from any high point for IAU and AU.

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Drawdown Indicators

IAUAUDifference

Max Drawdown

Largest peak-to-trough decline

-45.14%

-90.12%

+44.98%

Max Drawdown (1Y)

Largest decline over 1 year

-24.40%

-37.03%

+12.63%

Max Drawdown (3Y)

Largest decline over 3 years

-24.40%

-38.71%

+14.31%

Max Drawdown (5Y)

Largest decline over 5 years

-24.40%

-51.75%

+27.35%

Max Drawdown (10Y)

Largest decline over 10 years

-24.40%

-67.91%

+43.51%

Current Drawdown

Current decline from peak

-22.03%

-30.75%

+8.72%

Average Drawdown

Average peak-to-trough decline

-15.97%

-46.07%

+30.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.47%

14.04%

-5.57%

Volatility

IAU vs. AU - Volatility Comparison

The current volatility for iShares Gold Trust (IAU) is 7.70%, while AngloGold Ashanti Limited (AU) has a volatility of 21.02%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than AU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAUAUDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.70%

21.02%

-13.32%

Volatility (6M)

Calculated over the trailing 6-month period

23.94%

46.50%

-22.56%

Volatility (1Y)

Calculated over the trailing 1-year period

27.17%

58.45%

-31.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.16%

49.13%

-30.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.02%

49.79%

-33.77%

Dividends

IAU vs. AU - Dividend Comparison

IAU has not paid dividends to shareholders, while AU's dividend yield for the trailing twelve months is around 5.33%.

PositionTTM202520242023202220212020201920182017
AU
AngloGold Ashanti Limited		5.33%2.96%1.78%1.14%2.26%2.58%0.49%0.30%0.48%0.93%
IAU
iShares Gold Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IAU and AU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AU has higher volatility (21.02%) compared to IAU (7.70%). In terms of maximum drawdown, IAU dropped -45.14% vs AU's -90.12%.

AU currently has the higher Sharpe Ratio (1.50 vs 0.89), 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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