IAU vs. IAK

Last updated Jun 7, 2026

IAU (iShares Gold Trust) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, IAU returned 12.97%/yr vs 12.09%/yr for IAK. At a correlation of -0.01, they often move in opposite directions. IAU charges 0.25%/yr vs 0.43%/yr for IAK.

Performance

IAU vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust (IAU) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAU achieves a 0.06% return, which is significantly higher than IAK's -0.36% return. Over the past 10 years, IAU has outperformed IAK with an annualized return of 12.97%, while IAK has yielded a comparatively lower 12.09% annualized return.

IAU

• 1D: -3.63%
• 1M: -8.61%
• YTD: 0.06%
• 6M: 2.63%
• 1Y: 30.01%
• 3Y*: 29.73%
• 5Y*: 17.65%
• 10Y*: 12.97%

IAK

• 1D: 3.19%
• 1M: 2.61%
• YTD: -0.36%
• 6M: 3.38%
• 1Y: 0.77%
• 3Y*: 18.24%
• 5Y*: 12.47%
• 10Y*: 12.09%

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

IAU vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAU iShares Gold Trust	0.06%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%
IAK iShares U.S. Insurance ETF	-0.36%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	25.94%	-11.48%	14.18%

Correlation

The correlation between IAU and IAK is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since May 8, 2006	-0.01

IAU vs. IAK - Sectors Allocation Comparison

Sectors	IAU	IAK
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	99.5%
Healthcare	-	0.5%
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IAU vs. IAK — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 29
IAU Sharpe Ratio Rank: 30
IAU Sortino Ratio Rank: 27
IAU Omega Ratio Rank: 33
IAU Calmar Ratio Rank: 30
IAU Martin Ratio Rank: 27

IAK

IAK Risk / Return Rank: 11
IAK Sharpe Ratio Rank: 11
IAK Sortino Ratio Rank: 10
IAK Omega Ratio Rank: 10
IAK Calmar Ratio Rank: 12
IAK Martin Ratio Rank: 11

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. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares U.S. Insurance ETF (IAK). 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	IAK	Difference
Sharpe ratio: Return per unit of total volatility	1.07	0.11	+0.96
Sortino ratio: Return per unit of downside risk	1.45	0.26	+1.19
Omega ratio: Gain probability vs. loss probability	1.22	1.03	+0.19
Calmar ratio: Return relative to maximum drawdown	1.42	0.22	+1.20
Martin ratio: Return relative to average drawdown	3.60	0.46	+3.14
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. IAK - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.07, which is higher than the IAK Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of IAU and IAK, 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	IAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.11	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.69	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.58	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.27	+0.35

Drawdowns

IAU vs. IAK - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for IAU and IAK.

Drawdown Indicators

	IAU	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-45.14%	-77.38%	+32.24%
Max Drawdown (1Y) Largest decline over 1 year	-20.04%	-7.62%	-12.42%
Max Drawdown (3Y) Largest decline over 3 years	-20.04%	-11.58%	-8.46%
Max Drawdown (5Y) Largest decline over 5 years	-20.93%	-14.76%	-6.17%
Max Drawdown (10Y) Largest decline over 10 years	-21.82%	-44.95%	+23.13%
Current Drawdown Current decline from peak	-20.04%	-1.68%	-18.36%
Average Drawdown Average peak-to-trough decline	-15.97%	-16.13%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.89%	3.67%	+4.22%

Volatility

IAU vs. IAK - Volatility Comparison

iShares Gold Trust (IAU) has a higher volatility of 5.64% compared to iShares U.S. Insurance ETF (IAK) at 5.13%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAU	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	5.13%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	23.33%	10.53%	+12.80%
Volatility (1Y) Calculated over the trailing 1-year period	26.67%	15.09%	+11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	18.13%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.94%	20.91%	-4.97%

IAU vs. IAK - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is lower than IAK's 0.43% expense ratio.

Dividends

IAU vs. IAK - Dividend Comparison

IAU has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.64%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
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

Can I hold both IAU and IAK in my portfolio?

IAU and IAK have a correlation of -0.05, 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 IAK?

IAU has higher volatility (5.64%) compared to IAK (5.13%). In terms of maximum drawdown, IAU dropped -45.14% vs IAK's -77.38%.

Which ETF is better, IAU or IAK?

On 10-year performance, IAU leads with 12.97% vs 12.09% for IAK. On fees, IAU is cheaper at 0.25% per year. On volatility, IAK has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAU or IAK?

Over the 10-year period, IAU has performed better with a 12.97% return vs 12.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAU or IAK?

IAU is cheaper with a 0.25% expense ratio, compared with 0.43% for IAK.

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

IAK has the higher dividend yield at 2.64%, compared with 0.00% for IAU.

What is the main difference between IAU and IAK?

IAU is categorized as Gold, while IAK is Financials Equities. IAU tracks LBMA Gold Price, while IAK tracks Dow Jones U.S. Select Insurance Index. Their fees differ too: 0.25% for IAU and 0.43% for IAK.

Which has better risk-adjusted returns?

IAU currently has the higher Sharpe Ratio (1.07 vs 0.11), 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.