IAU vs. EMVL.L
IAU (iShares Gold Trust) and EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while EMVL.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, IAU returned 18.47%/yr vs 16.74%/yr for EMVL.L. At a 0.21 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.40%/yr for EMVL.L.
Performance
IAU vs. EMVL.L - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a 0.11% return, which is significantly lower than EMVL.L's 45.06% return.
IAU
- 1D
- 2.61%
- 1M
- -4.97%
- YTD
- 0.11%
- 6M
- 0.22%
- 1Y
- 25.52%
- 3Y*
- 29.91%
- 5Y*
- 18.47%
- 10Y*
- 12.49%
EMVL.L
- 1D
- 2.91%
- 1M
- 8.74%
- YTD
- 45.06%
- 6M
- 49.13%
- 1Y
- 82.04%
- 3Y*
- 36.29%
- 5Y*
- 16.74%
- 10Y*
- —
IAU vs. EMVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.11% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | 3.54% |
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 45.06% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 17.64% | -2.10% |
Correlation
The correlation between IAU and EMVL.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | 0.21 |
The correlation between IAU and EMVL.L shifts across timeframes, from 0.21 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. EMVL.L — Risk / Return Rank
IAU
EMVL.L
IAU vs. EMVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L). 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 | EMVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.64 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 7.00 | -5.95 |
| Martin ratioReturn relative to average drawdown | 3.00 | 22.34 | -19.34 |
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Drawdowns
IAU vs. EMVL.L - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than EMVL.L's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for IAU and EMVL.L.
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Drawdown Indicators
| IAU | EMVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -34.95% | -10.19% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -11.65% | -12.75% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -16.42% | -7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -33.55% | +9.15% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | — | — |
Current DrawdownCurrent decline from peak | -20.00% | -3.38% | -16.62% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -9.53% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.56% | 3.66% | +4.90% |
Volatility
IAU vs. EMVL.L - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 8.29%, while iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a volatility of 10.29%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than EMVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | EMVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 10.29% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 24.06% | 18.92% | +5.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.29% | 21.93% | +5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.20% | 20.24% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.04% | 21.19% | -5.15% |
IAU vs. EMVL.L - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than EMVL.L's 0.40% expense ratio.
Dividends
IAU vs. EMVL.L - Dividend Comparison
Neither IAU nor EMVL.L has paid dividends to shareholders.
Frequently Asked Questions
IAU and EMVL.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.40% for EMVL.L.
IAU is categorized as Gold, while EMVL.L is Emerging Markets Equities. IAU tracks LBMA Gold Price, while EMVL.L tracks MSCI EM NR USD. Their fees differ too: 0.25% for IAU and 0.40% for EMVL.L.
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