IAU vs. CARR
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while CARR (Carrier Global Corporation) is a stock. Over the past 5 years, IAU returned 17.23%/yr vs 10.28%/yr for CARR. At a 0.09 correlation, their price movements are largely independent.
Performance
IAU vs. CARR - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -2.44% return, which is significantly lower than CARR's 33.35% return.
IAU
- 1D
- 0.08%
- 1M
- -7.39%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
CARR
- 1D
- 0.24%
- 1M
- 8.10%
- YTD
- 33.35%
- 6M
- 33.09%
- 1Y
- -0.12%
- 3Y*
- 16.03%
- 5Y*
- 10.28%
- 10Y*
- —
IAU vs. CARR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 17.57% |
CARR Carrier Global Corporation | 33.35% | -21.57% | 20.26% | 41.47% | -22.68% | 45.31% | 176.86% |
Correlation
The correlation between IAU and CARR is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2020 | 0.09 |
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Return for Risk
IAU vs. CARR — Risk / Return Rank
IAU
CARR
IAU vs. CARR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Carrier Global Corporation (CARR). 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.
| IAU | CARR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.02 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.05 | +1.03 |
| Martin ratioReturn relative to average drawdown | 2.83 | -0.08 | +2.91 |
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Drawdowns
IAU vs. CARR - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than CARR's maximum drawdown of -40.82%. Use the drawdown chart below to compare losses from any high point for IAU and CARR.
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Drawdown Indicators
| IAU | CARR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -40.82% | -4.32% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -37.38% | +12.98% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -37.91% | +13.51% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -40.82% | +16.42% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | — | — |
Current DrawdownCurrent decline from peak | -22.03% | -13.13% | -8.90% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -14.21% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 24.10% | -15.63% |
Volatility
IAU vs. CARR - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 7.70%, while Carrier Global Corporation (CARR) has a volatility of 12.13%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than CARR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | CARR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 12.13% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 27.68% | -3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 35.29% | -8.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 31.90% | -13.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 34.83% | -18.81% |
Dividends
IAU vs. CARR - Dividend Comparison
IAU has not paid dividends to shareholders, while CARR's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CARR Carrier Global Corporation | 1.65% | 1.70% | 1.16% | 1.30% | 1.54% | 0.94% | 0.74% |
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAU and CARR have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARR has higher volatility (12.13%) compared to IAU (7.70%). In terms of maximum drawdown, IAU dropped -45.14% vs CARR's -40.82%.
IAU currently has the higher Sharpe Ratio (0.89 vs -0.05), 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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