IAU vs. FNDF
IAU (iShares Gold Trust) and FNDF (Schwab Fundamental International Equity ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while FNDF is a Foreign Large Cap Equities fund tracking the RAFI Fundamental High Liquidity Developed ex US Large Index (Net). Both are passively managed. Over the past 10 years, IAU returned 12.31%/yr vs 12.34%/yr for FNDF. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
IAU vs. FNDF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IAU achieves a -2.44% return, which is significantly lower than FNDF's 19.66% return. Both investments have delivered pretty close results over the past 10 years, with IAU having a 12.31% annualized return and FNDF not far ahead at 12.34%.
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%
FNDF
- 1D
- 0.39%
- 1M
- 2.91%
- YTD
- 19.66%
- 6M
- 21.60%
- 1Y
- 41.60%
- 3Y*
- 22.69%
- 5Y*
- 13.11%
- 10Y*
- 12.34%
IAU vs. FNDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
FNDF Schwab Fundamental International Equity ETF | 19.66% | 40.99% | 2.29% | 20.22% | -7.78% | 14.97% | 3.61% | 18.46% | -14.21% | 23.98% |
Correlation
The correlation between IAU and FNDF is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013 | 0.17 |
Over the past year, IAU and FNDF have become more correlated (0.39) than their long-term average of 0.17, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IAU vs. FNDF — Risk / Return Rank
IAU
FNDF
IAU vs. FNDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Schwab Fundamental International Equity ETF (FNDF). 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 | FNDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.45 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 3.82 | -2.83 |
| Martin ratioReturn relative to average drawdown | 2.83 | 14.27 | -11.43 |
Loading charts...
Drawdowns
IAU vs. FNDF - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than FNDF's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for IAU and FNDF.
Loading charts...
Drawdown Indicators
| IAU | FNDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -40.14% | -5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -10.60% | -13.80% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -13.89% | -10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -25.56% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -40.14% | +15.74% |
Current DrawdownCurrent decline from peak | -22.03% | -1.94% | -20.09% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -7.63% | -8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 2.84% | +5.63% |
Volatility
IAU vs. FNDF - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 7.70% compared to Schwab Fundamental International Equity ETF (FNDF) at 6.65%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IAU | FNDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 6.65% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 13.64% | +10.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 16.00% | +11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 16.35% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 17.71% | -1.69% |
IAU vs. FNDF - Expense Ratio Comparison
Both IAU and FNDF have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IAU vs. FNDF - Dividend Comparison
IAU has not paid dividends to shareholders, while FNDF's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDF Schwab Fundamental International Equity ETF | 2.87% | 3.44% | 4.01% | 3.41% | 3.10% | 3.54% | 2.17% | 3.20% | 3.47% | 2.32% | 2.42% | 2.08% |
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% | 0.00% |
Frequently Asked Questions
IAU and FNDF have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (7.70%) compared to FNDF (6.65%). In terms of maximum drawdown, IAU dropped -45.14% vs FNDF's -40.14%.
On 10-year performance, FNDF leads with 12.34% vs 12.31% for IAU. Both ETFs have the same 0.25% expense ratio. On volatility, FNDF has been the lower-risk option at 6.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDF has performed better with a 12.34% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU and FNDF have the same expense ratio: 0.25% per year.
FNDF has the higher dividend yield at 2.87%, compared with 0.00% for IAU.
IAU is categorized as Gold, while FNDF is Foreign Large Cap Equities. IAU tracks LBMA Gold Price, while FNDF tracks RAFI Fundamental High Liquidity Developed ex US Large Index (Net). They also come from different issuers: iShares and Charles Schwab.
FNDF currently has the higher Sharpe Ratio (2.53 vs 0.89), 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.
Find the right allocation for IAU and FNDF
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer