IAU vs. BAR

Last updated Jun 4, 2026

IAU (iShares Gold Trust) and BAR (GraniteShares Gold Trust) are both Gold funds - IAU tracks the LBMA Gold Price while BAR tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 5 years, IAU returned 18.32%/yr vs 18.41%/yr for BAR. With a 0.99 correlation, they move nearly in lockstep. IAU charges 0.25%/yr vs 0.17%/yr for BAR.

Performance

IAU vs. BAR - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with IAU having a 2.98% return and BAR slightly lower at 2.94%.

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

BAR

• 1D: -1.02%
• 1M: -1.62%
• YTD: 2.94%
• 6M: 5.50%
• 1Y: 32.26%
• 3Y*: 31.38%
• 5Y*: 18.41%
• 10Y*: —

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

IAU vs. BAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	-1.65%
BAR GraniteShares Gold Trust	2.94%	64.12%	26.97%	12.96%	-0.55%	-3.92%	25.02%	18.16%	-1.87%	-1.15%

Correlation

The correlation between IAU and BAR is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017	0.99

The correlation between IAU and BAR has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

IAU vs. BAR — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

BAR

BAR Risk / Return Rank: 32
BAR Sharpe Ratio Rank: 33
BAR Sortino Ratio Rank: 30
BAR Omega Ratio Rank: 36
BAR Calmar Ratio Rank: 34
BAR Martin Ratio Rank: 29

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. BAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and GraniteShares Gold Trust (BAR). 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.

	IAU	BAR	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.23	0.00
Sortino ratio Return per unit of downside risk	1.62	1.62	0.00
Omega ratio Gain probability vs. loss probability	1.24	1.25	0.00
Calmar ratio Return relative to maximum drawdown	1.69	1.69	0.00
Martin ratio Return relative to average drawdown	4.19	4.19	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAU vs. BAR - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.23, which is comparable to the BAR Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of IAU and BAR, 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

	IAU	BAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.23	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	1.03	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.90	-0.28

Drawdowns

IAU vs. BAR - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, which is greater than BAR's maximum drawdown of -21.53%. Use the drawdown chart below to compare losses from any high point for IAU and BAR.

Drawdown Indicators

	IAU	BAR	Difference
Max Drawdown Largest peak-to-trough decline	-45.14%	-21.53%	-23.61%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	-19.19%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	-19.19%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-20.93%	-20.91%	-0.02%
Max Drawdown (10Y) Largest decline over 10 years	-21.82%	—	—
Current Drawdown Current decline from peak	-17.70%	-17.72%	+0.02%
Average Drawdown Average peak-to-trough decline	-15.96%	-6.45%	-9.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.71%	7.72%	-0.01%

Volatility

IAU vs. BAR - Volatility Comparison

iShares Gold Trust (IAU) and GraniteShares Gold Trust (BAR) have volatilities of 5.50% and 5.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAU	BAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	5.46%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	23.02%	23.03%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	26.42%	26.43%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	17.90%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	16.38%	-0.48%

IAU vs. BAR - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is higher than BAR's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IAU vs. BAR - Dividend Comparison

Neither IAU nor BAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IAU and BAR in my portfolio?

With a correlation of 1.00, IAU and BAR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IAU or BAR?

IAU has higher volatility (5.50%) compared to BAR (5.46%). In terms of maximum drawdown, IAU dropped -45.14% vs BAR's -21.53%.

Which ETF is better, IAU or BAR?

On 5-year performance, BAR leads with 18.41% vs 18.32% for IAU. On fees, BAR is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAU or BAR?

Over the 5-year period, BAR has performed better with a 18.41% return vs 18.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAU or BAR?

BAR is cheaper with a 0.17% expense ratio, compared with 0.25% for IAU.

Which ETF pays a higher dividend yield, IAU or BAR?

IAU and BAR have nearly identical dividend yields, around 0.00%.

What is the main difference between IAU and BAR?

IAU tracks LBMA Gold Price, while BAR tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: iShares and GraniteShares. Their fees differ too: 0.25% for IAU and 0.17% for BAR.

Which has better risk-adjusted returns?

BAR currently has the higher Sharpe Ratio (1.23 vs 1.23), 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.