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IAU vs. DDLS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAU vs. DDLS

Last updated Jun 9, 2026

IAU (iShares Gold Trust) and DDLS (WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while DDLS is a Foreign Small & Mid Cap Equities fund tracking the WisdomTree Dynamic Currency Hedged International SmallCap Equity Index. Both are passively managed. Over the past 10 years, IAU returned 12.71%/yr vs 9.73%/yr for DDLS. At a 0.12 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.48%/yr for DDLS.

Performance

IAU vs. DDLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust (IAU) and WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS). 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 0.26% return, which is significantly lower than DDLS's 4.38% return. Over the past 10 years, IAU has outperformed DDLS with an annualized return of 12.71%, while DDLS has yielded a comparatively lower 9.73% annualized return.

IAU

1D
0.20%
1M
-8.43%
YTD
0.26%
6M
3.08%
1Y
30.27%
3Y*
29.88%
5Y*
17.71%
10Y*
12.71%

DDLS

1D
0.15%
1M
-2.20%
YTD
4.38%
6M
6.82%
1Y
19.34%
3Y*
16.54%
5Y*
9.39%
10Y*
9.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAU vs. DDLS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAU
iShares Gold Trust		0.26%63.95%26.85%12.84%-0.63%-4.00%25.03%17.98%-1.76%12.91%
DDLS
WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund		4.38%27.97%10.22%15.25%-10.13%17.75%-2.95%24.84%-16.92%26.91%

Correlation

The correlation between IAU and DDLS is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

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

0.29

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

0.24

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

0.12

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2016

0.12

The correlation between IAU and DDLS shifts across timeframes, from 0.12 (all time) to 0.29 (3 years), reflecting how their relationship changes across market environments.

IAU vs. DDLS - Sectors Allocation Comparison

Sectors
IAU
DDLS

Real Estate

100.0%
6.3%

Basic Materials

-

8.0%

Communication Services

-

3.7%

Consumer Cyclical

-

11.2%

Consumer Defensive

-

5.9%

Energy

-

3.2%

Financial Services

-

12.9%

Healthcare

-

2.7%

Industrials

-

25.1%

Technology

-

7.8%

Utilities

-

2.0%

Real Estate

IAU
100.0%
DDLS
6.3%

Basic Materials

IAU

-

DDLS
8.0%

Communication Services

IAU

-

DDLS
3.7%

Consumer Cyclical

IAU

-

DDLS
11.2%

Consumer Defensive

IAU

-

DDLS
5.9%

Energy

IAU

-

DDLS
3.2%

Financial Services

IAU

-

DDLS
12.9%

Healthcare

IAU

-

DDLS
2.7%

Industrials

IAU

-

DDLS
25.1%

Technology

IAU

-

DDLS
7.8%

Utilities

IAU

-

DDLS
2.0%

Compare stocks, funds, or ETFs

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iShares Gold Trust

WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund

Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS
Often compared with DDLS:
DDLS vs. DLSDDLS vs. EPIDDLS vs. ISVLDDLS vs. SMCWXDDLS vs. AVDVDDLS vs. DISVDDLS vs. IDOG

Return for Risk

IAU vs. DDLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAU
IAU Risk / Return Rank: 3333
Overall Rank
IAU Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 3131
Sortino Ratio Rank
IAU Omega Ratio Rank: 3838
Omega Ratio Rank
IAU Calmar Ratio Rank: 3434
Calmar Ratio Rank
IAU Martin Ratio Rank: 2929
Martin Ratio Rank
DDLS
DDLS Risk / Return Rank: 4646
Overall Rank
DDLS Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
DDLS Sortino Ratio Rank: 4949
Sortino Ratio Rank
DDLS Omega Ratio Rank: 4848
Omega Ratio Rank
DDLS Calmar Ratio Rank: 4040
Calmar Ratio Rank
DDLS Martin Ratio Rank: 4545
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. DDLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS). 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.

IAUDDLSDifference
Sharpe ratioReturn per unit of total volatility
1.14
1.49

-0.35

Sortino ratioReturn per unit of downside risk
1.52
2.16

-0.63

Omega ratioGain probability vs. loss probability

1.23

1.28

-0.05

Calmar ratioReturn relative to maximum drawdown

1.52

1.82

-0.30

Martin ratioReturn relative to average drawdown

3.80

6.73

-2.93

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. DDLS - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.14, which is comparable to the DDLS Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of IAU and DDLS, 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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Sharpe Ratios by Period

IAUDDLSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

1.49

-0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

0.68

+0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.80

0.63

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

0.63

-0.02

Drawdowns

IAU vs. DDLS - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, which is greater than DDLS's maximum drawdown of -36.80%. Use the drawdown chart below to compare losses from any high point for IAU and DDLS.

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Drawdown Indicators

IAUDDLSDifference

Max Drawdown

Largest peak-to-trough decline

-45.14%

-36.80%

-8.34%

Max Drawdown (1Y)

Largest decline over 1 year

-20.04%

-10.69%

-9.35%

Max Drawdown (3Y)

Largest decline over 3 years

-20.04%

-11.66%

-8.38%

Max Drawdown (5Y)

Largest decline over 5 years

-20.93%

-19.87%

-1.06%

Max Drawdown (10Y)

Largest decline over 10 years

-21.82%

-36.80%

+14.98%

Current Drawdown

Current decline from peak

-19.88%

-4.42%

-15.46%

Average Drawdown

Average peak-to-trough decline

-15.97%

-5.70%

-10.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.99%

2.88%

+5.11%

Volatility

IAU vs. DDLS - Volatility Comparison

iShares Gold Trust (IAU) has a higher volatility of 5.64% compared to WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund (DDLS) at 3.81%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than DDLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAUDDLSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

3.81%

+1.83%

Volatility (6M)

Calculated over the trailing 6-month period

23.33%

10.74%

+12.59%

Volatility (1Y)

Calculated over the trailing 1-year period

26.68%

13.03%

+13.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.02%

13.78%

+4.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

15.61%

+0.33%

IAU vs. DDLS - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is lower than DDLS's 0.48% expense ratio.

Dividends

IAU vs. DDLS - Dividend Comparison

IAU has not paid dividends to shareholders, while DDLS's dividend yield for the trailing twelve months is around 3.59%.

PositionTTM2025202420232022202120202019201820172016
DDLS
WisdomTree Dynamic Currency Hedged International SmallCap Equity Fund		3.59%3.80%4.11%4.05%5.44%3.18%3.16%3.68%1.75%1.60%3.47%
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%

Frequently Asked Questions

IAU and DDLS have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAU has higher volatility (5.64%) compared to DDLS (3.81%). In terms of maximum drawdown, IAU dropped -45.14% vs DDLS's -36.80%.

On 10-year performance, IAU leads with 12.71% vs 9.73% for DDLS. On fees, IAU is cheaper at 0.25% per year. On volatility, DDLS has been the lower-risk option at 3.81%. 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 12.71% return vs 9.73%. 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 0.48% for DDLS.

DDLS has the higher dividend yield at 3.59%, compared with 0.00% for IAU.

IAU is categorized as Gold, while DDLS is Foreign Small & Mid Cap Equities. IAU tracks LBMA Gold Price, while DDLS tracks WisdomTree Dynamic Currency Hedged International SmallCap Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for IAU and 0.48% for DDLS.

DDLS currently has the higher Sharpe Ratio (1.49 vs 1.14), 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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