IAU vs. GDE

Last updated Jun 4, 2026

IAU (iShares Gold Trust) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both Gold funds. IAU is passively managed, while GDE is actively managed. Over the past 3 years, IAU returned 31.29%/yr vs 46.68%/yr for GDE. A 0.73 correlation means they provide meaningful diversification when combined. IAU charges 0.25%/yr vs 0.20%/yr for GDE.

Performance

IAU vs. GDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust (IAU) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAU achieves a 2.98% return, which is significantly lower than GDE's 9.79% return.

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

GDE

• 1D: -1.35%
• 1M: 1.88%
• YTD: 9.79%
• 6M: 11.87%
• 1Y: 53.13%
• 3Y*: 46.68%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IAU vs. GDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-6.13%
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	9.79%	73.76%	44.79%	33.85%	-18.67%

Correlation

The correlation between IAU and GDE is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.73

The correlation between IAU and GDE shifts across timeframes, from 0.73 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IAU vs. GDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

GDE

GDE Risk / Return Rank: 49
GDE Sharpe Ratio Rank: 54
GDE Sortino Ratio Rank: 45
GDE Omega Ratio Rank: 54
GDE Calmar Ratio Rank: 47
GDE Martin Ratio Rank: 44

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. GDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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	GDE	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.88	-0.66
Sortino ratio Return per unit of downside risk	1.62	2.32	-0.70
Omega ratio Gain probability vs. loss probability	1.24	1.34	-0.09
Calmar ratio Return relative to maximum drawdown	1.69	2.36	-0.67
Martin ratio Return relative to average drawdown	4.19	7.34	-3.16
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. GDE - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.23, which is lower than the GDE Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of IAU and GDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IAU	GDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.88	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.15	-0.53

Drawdowns

IAU vs. GDE - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for IAU and GDE.

Drawdown Indicators

	IAU	GDE	Difference
Max Drawdown Largest peak-to-trough decline	-45.14%	-32.01%	-13.13%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	-22.66%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	-22.66%	+3.48%
Max Drawdown (5Y) Largest decline over 5 years	-20.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.82%	—	—
Current Drawdown Current decline from peak	-17.70%	-11.17%	-6.53%
Average Drawdown Average peak-to-trough decline	-15.96%	-7.88%	-8.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.71%	7.26%	+0.45%

Volatility

IAU vs. GDE - Volatility Comparison

The current volatility for iShares Gold Trust (IAU) is 5.50%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 6.65%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAU	GDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	6.65%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	23.02%	24.24%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	26.42%	28.39%	-1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	26.12%	-8.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	26.12%	-10.22%

IAU vs. GDE - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is higher than GDE's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IAU vs. GDE - Dividend Comparison

IAU has not paid dividends to shareholders, while GDE's dividend yield for the trailing twelve months is around 3.94%.

Position	TTM	2025	2024	2023	2022
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund	3.94%	4.32%	7.14%	2.22%	0.81%
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAU and GDE in my portfolio?

IAU and GDE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAU or GDE?

GDE has higher volatility (6.65%) compared to IAU (5.50%). In terms of maximum drawdown, IAU dropped -45.14% vs GDE's -32.01%.

Which ETF is better, IAU or GDE?

On 3-year performance, GDE leads with 46.68% vs 31.29% for IAU. On fees, GDE is cheaper at 0.20% per year. On volatility, IAU has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAU or GDE?

Over the 3-year period, GDE has performed better with a 46.68% return vs 31.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAU or GDE?

GDE is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

Which ETF pays a higher dividend yield, IAU or GDE?

GDE has the higher dividend yield at 3.94%, compared with 0.00% for IAU.

What is the main difference between IAU and GDE?

They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for IAU and 0.20% for GDE.

Which has better risk-adjusted returns?

GDE currently has the higher Sharpe Ratio (1.88 vs 1.23), 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.