IAU vs. IBIT

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Gold Trust (IAU) and iShares Bitcoin Trust ETF (IBIT).

IAU and IBIT 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 LBMA Gold Price. It was launched on Jan 21, 2005. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. Both IAU and IBIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IAU vs. IBIT - Performance Comparison

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

IAU vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAU iShares Gold Trust	10.48%	63.95%	29.03%
IBIT iShares Bitcoin Trust ETF	-22.18%	-6.41%	99.21%

Returns By Period

In the year-to-date period, IAU achieves a 10.48% return, which is significantly higher than IBIT's -22.18% return.

IAU

• 1D: 1.72%
• 1M: -10.66%
• YTD: 10.48%
• 6M: 23.05%
• 1Y: 52.36%
• 3Y*: 33.88%
• 5Y*: 22.19%
• 10Y*: 14.27%

IBIT

• 1D: 0.57%
• 1M: -1.42%
• YTD: -22.18%
• 6M: -42.10%
• 1Y: -20.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAU vs. IBIT - Expense Ratio Comparison

Both IAU and IBIT 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%.

IAU

iShares Gold Trust

IBIT

iShares Bitcoin Trust ETF

Return for Risk

IAU vs. IBIT — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 86
IAU Sharpe Ratio Rank: 88
IAU Sortino Ratio Rank: 85
IAU Omega Ratio Rank: 85
IAU Calmar Ratio Rank: 86
IAU Martin Ratio Rank: 84

IBIT

IBIT Risk / Return Rank: 6
IBIT Sharpe Ratio Rank: 5
IBIT Sortino Ratio Rank: 5
IBIT Omega Ratio Rank: 6
IBIT Calmar Ratio Rank: 6
IBIT Martin Ratio Rank: 6

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. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio Return per unit of total volatility	1.90	-0.44	+2.35
Sortino ratio Return per unit of downside risk	2.33	-0.37	+2.70
Omega ratio Gain probability vs. loss probability	1.35	0.96	+0.39
Calmar ratio Return relative to maximum drawdown	2.72	-0.35	+3.07
Martin ratio Return relative to average drawdown	9.95	-0.75	+10.70
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. IBIT - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.90, which is higher than the IBIT Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of IAU and IBIT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IAU	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	-0.44	+2.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.36	+0.29

Correlation

The correlation between IAU and IBIT is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IAU vs. IBIT - Dividend Comparison

Neither IAU nor IBIT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

IAU vs. IBIT - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for IAU and IBIT.

Drawdown Indicators

	IAU	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-45.14%	-49.36%	+4.22%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	-49.36%	+30.18%
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	-11.71%	-45.80%	+34.09%
Average Drawdown Average peak-to-trough decline	-15.98%	-14.18%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	23.27%	-18.04%

Volatility

IAU vs. IBIT - Volatility Comparison

The current volatility for iShares Gold Trust (IAU) is 10.44%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.95%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAU	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.44%	12.95%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	24.15%	36.76%	-12.61%
Volatility (1Y) Calculated over the trailing 1-year period	27.64%	45.40%	-17.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	51.21%	-33.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	51.21%	-35.38%