IAU vs. CEG
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while CEG (Constellation Energy Corp) is a stock. Over the past 3 years, IAU returned 29.07%/yr vs 40.06%/yr for CEG. At a 0.13 correlation, their price movements are largely independent.
Performance
IAU vs. CEG - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -2.44% return, which is significantly higher than CEG's -27.96% 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%
CEG
- 1D
- 2.86%
- 1M
- -7.54%
- YTD
- -27.96%
- 6M
- -27.70%
- 1Y
- -15.08%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
IAU vs. CEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | 0.93% |
CEG Constellation Energy Corp | -27.96% | 58.80% | 92.71% | 37.24% | 73.87% |
Correlation
The correlation between IAU and CEG 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 | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.13 |
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Return for Risk
IAU vs. CEG — Risk / Return Rank
IAU
CEG
IAU vs. CEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Constellation Energy Corp (CEG). 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 | CEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.98 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.38 | +1.37 |
| Martin ratioReturn relative to average drawdown | 2.83 | -0.78 | +3.61 |
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Drawdowns
IAU vs. CEG - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum CEG drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for IAU and CEG.
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Drawdown Indicators
| IAU | CEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -50.70% | +5.56% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -39.77% | +15.37% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -50.70% | +26.30% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | — | — |
Current DrawdownCurrent decline from peak | -22.03% | -36.93% | +14.90% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -11.67% | -4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 19.38% | -10.91% |
Volatility
IAU vs. CEG - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 7.70%, while Constellation Energy Corp (CEG) has a volatility of 15.26%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than CEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | CEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 15.26% | -7.56% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 37.72% | -13.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 46.66% | -19.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 49.38% | -31.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 49.38% | -33.36% |
Dividends
IAU vs. CEG - Dividend Comparison
IAU has not paid dividends to shareholders, while CEG's dividend yield for the trailing twelve months is around 0.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.64% | 0.44% | 0.63% | 0.97% | 0.65% |
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAU and CEG 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.
CEG has higher volatility (15.26%) compared to IAU (7.70%). In terms of maximum drawdown, IAU dropped -45.14% vs CEG's -50.70%.
IAU currently has the higher Sharpe Ratio (0.89 vs -0.32), 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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