IAU vs. GSLC
IAU (iShares Gold Trust) and GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while GSLC is a Large Cap Blend Equities fund tracking the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. Both are passively managed. Over the past 10 years, IAU returned 11.59%/yr vs 14.04%/yr for GSLC. Their 0.05 correlation means their historical movements had little consistent relationship. IAU charges 0.25%/yr vs 0.09%/yr for GSLC.
Performance
IAU vs. GSLC - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -6.09% return, which is significantly lower than GSLC's 7.14% return. Over the past 10 years, IAU has underperformed GSLC with an annualized return of 11.59%, while GSLC has yielded a comparatively higher 14.04% annualized return.
IAU
- 1D
- 0.11%
- 1M
- 0.69%
- 6M
- -18.72%
- YTD
- -6.09%
- 1Y
- 21.17%
- 3Y*
- 26.99%
- 5Y*
- 17.33%
- 10Y*
- 11.59%
- ALL TIME*
- 10.72%
GSLC
- 1D
- 0.26%
- 1M
- 1.27%
- 6M
- 6.47%
- YTD
- 7.14%
- 1Y
- 14.00%
- 3Y*
- 17.71%
- 5Y*
- 11.15%
- 10Y*
- 14.04%
- ALL TIME*
- 13.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $78.02M | $62.36M | $41.68M | |
| $367.78M | $389.80M | $488.83M |
IAU vs. GSLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -6.09% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 7.14% | 16.17% | 24.21% | 25.09% | -18.71% | 27.17% | 19.02% | 30.74% | -4.07% | 22.49% |
Correlation
The correlation between IAU and GSLC is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015 | 0.05 |
Over the past year, IAU and GSLC have become more correlated (0.29) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
IAU vs. GSLC — Risk / Return Rank
IAU
GSLC
IAU vs. GSLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC). 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 | GSLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 1.54 | -0.77 |
| Martin ratioReturn relative to average drawdown | 1.72 | 6.49 | -4.77 |
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Drawdowns
IAU vs. GSLC - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than GSLC's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for IAU and GSLC.
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Drawdown Indicators
| IAU | GSLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -33.69% | -11.45% |
Max Drawdown (1Y)Largest decline over 1 year | -26.36% | -9.49% | -16.87% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -18.66% | -7.70% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -24.90% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -26.36% | -33.69% | +7.33% |
Current DrawdownCurrent decline from peak | -24.95% | -1.91% | -23.04% |
Average DrawdownAverage peak-to-trough decline | -16.01% | -4.36% | -11.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 2.24% | +9.41% |
Volatility
IAU vs. GSLC - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 6.07% compared to Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) at 2.67%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than GSLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | GSLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 2.67% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 23.78% | 9.52% | +14.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.88% | 12.31% | +15.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.39% | 16.69% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 17.67% | -1.61% |
IAU vs. GSLC - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is higher than GSLC's 0.09% 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. GSLC - Dividend Comparison
IAU has not paid dividends to shareholders, while GSLC's dividend yield for the trailing twelve months is around 0.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 0.95% | 1.00% | 1.11% | 1.38% | 1.61% | 1.06% | 1.35% | 1.54% | 1.89% | 1.69% | 1.69% | 0.36% |
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 GSLC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (6.07%) compared to GSLC (2.67%). In terms of maximum drawdown, IAU dropped -45.14% vs GSLC's -33.69%.
On 10-year performance, GSLC leads with 14.04% vs 11.59% for IAU. On fees, GSLC is cheaper at 0.09% per year. On volatility, GSLC has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSLC has performed better with a 14.04% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSLC is cheaper with a 0.09% expense ratio, compared with 0.25% for IAU.
GSLC has the higher dividend yield at 0.95%, compared with 0.00% for IAU.
IAU is categorized as Gold, while GSLC is Large Cap Blend Equities. IAU tracks LBMA Gold Price, while GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.25% for IAU and 0.09% for GSLC.
GSLC currently has the higher Sharpe Ratio (1.18 vs 0.72), 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.
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