IAU vs. GDX
Compare and contrast key facts about iShares Gold Trust (IAU) and VanEck Vectors Gold Miners ETF (GDX).
IAU and GDX 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 Gold Bullion. It was launched on Jan 28, 2005. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. Both IAU and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IAU or GDX.
Performance
IAU vs. GDX - Performance Comparison
Returns By Period
In the year-to-date period, IAU achieves a 23.93% return, which is significantly higher than GDX's 14.51% return. Over the past 10 years, IAU has outperformed GDX with an annualized return of 7.69%, while GDX has yielded a comparatively lower 6.76% annualized return.
IAU
23.93%
-4.27%
5.87%
28.99%
11.62%
7.69%
GDX
14.51%
-13.39%
-3.69%
26.16%
7.18%
6.76%
Key characteristics
| IAU | GDX | |
|---|---|---|
| Sharpe Ratio | 2.07 | 0.88 |
| Sortino Ratio | 2.77 | 1.36 |
| Omega Ratio | 1.36 | 1.16 |
| Calmar Ratio | 3.75 | 0.50 |
| Martin Ratio | 12.53 | 3.59 |
| Ulcer Index | 2.43% | 7.81% |
| Daily Std Dev | 14.74% | 31.87% |
| Max Drawdown | -45.14% | -80.57% |
| Current Drawdown | -8.13% | -40.12% |
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IAU vs. GDX - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than GDX's 0.53% expense ratio.
Correlation
The correlation between IAU and GDX is 0.76, 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.
Risk-Adjusted Performance
IAU vs. GDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and VanEck Vectors Gold Miners ETF (GDX). 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.
Dividends
IAU vs. GDX - Dividend Comparison
IAU has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 1.41%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GDX VanEck Vectors Gold Miners ETF | 1.41% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
Drawdowns
IAU vs. GDX - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum GDX drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for IAU and GDX. For additional features, visit the drawdowns tool.
Volatility
IAU vs. GDX - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 5.38%, while VanEck Vectors Gold Miners ETF (GDX) has a volatility of 10.17%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.