IAU vs. DGP
Compare and contrast key facts about iShares Gold Trust (IAU) and DB Gold Double Long Exchange Traded Notes (DGP).
IAU and DGP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. DGP is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). It was launched on Feb 27, 2008. Both IAU and DGP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IAU vs. DGP - Performance Comparison
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IAU vs. DGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 10.48% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
DGP DB Gold Double Long Exchange Traded Notes | 16.89% | 141.40% | 53.16% | 16.97% | -5.54% | -11.29% | 45.29% | 32.27% | -7.48% | 24.20% |
Returns By Period
In the year-to-date period, IAU achieves a 10.48% return, which is significantly lower than DGP's 16.89% return. Over the past 10 years, IAU has underperformed DGP with an annualized return of 14.27%, while DGP has yielded a comparatively higher 22.78% annualized return.
IAU
- 1D
- 1.72%
- 1M
- -10.66%
- YTD
- 10.48%
- 6M
- 23.05%
- 1Y
- 52.36%
- 3Y*
- 33.88%
- 5Y*
- 22.19%
- 10Y*
- 14.27%
DGP
- 1D
- 2.85%
- 1M
- -21.64%
- YTD
- 16.89%
- 6M
- 41.16%
- 1Y
- 107.27%
- 3Y*
- 64.55%
- 5Y*
- 39.08%
- 10Y*
- 22.78%
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IAU vs. DGP - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than DGP's 0.75% expense ratio.
Return for Risk
IAU vs. DGP — Risk / Return Rank
IAU
DGP
IAU vs. DGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and DB Gold Double Long Exchange Traded Notes (DGP). 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 | DGP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.90 | 1.95 | -0.05 |
Sortino ratioReturn per unit of downside risk | 2.33 | 2.32 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.92 | -0.20 |
Martin ratioReturn relative to average drawdown | 9.95 | 11.08 | -1.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAU | DGP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | 1.95 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 1.02 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.65 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.31 | +0.34 |
Correlation
The correlation between IAU and DGP is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IAU vs. DGP - Dividend Comparison
Neither IAU nor DGP has paid dividends to shareholders.
Drawdowns
IAU vs. DGP - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum DGP drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for IAU and DGP.
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Drawdown Indicators
| IAU | DGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -75.31% | +30.17% |
Max Drawdown (1Y)Largest decline over 1 year | -19.18% | -36.58% | +17.40% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -51.24% | +30.31% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -51.24% | +29.42% |
Current DrawdownCurrent decline from peak | -11.71% | -22.22% | +10.51% |
Average DrawdownAverage peak-to-trough decline | -15.98% | -41.24% | +25.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 9.64% | -4.41% |
Volatility
IAU vs. DGP - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 10.44%, while DB Gold Double Long Exchange Traded Notes (DGP) has a volatility of 24.21%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than DGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | DGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.44% | 24.21% | -13.77% |
Volatility (6M)Calculated over the trailing 6-month period | 24.15% | 48.07% | -23.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.64% | 55.32% | -27.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 38.34% | -20.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 34.93% | -19.10% |