IAU vs. IBIT

Last updated Jun 4, 2026

IAU (iShares Gold Trust) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, IAU returned 32.20% vs -38.74% for IBIT. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

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.

Returns By Period

In the year-to-date period, IAU achieves a 2.98% return, which is significantly higher than IBIT's -25.48% 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%

IBIT

• 1D: -2.76%
• 1M: -18.50%
• YTD: -25.48%
• 6M: -29.84%
• 1Y: -38.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAU vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAU iShares Gold Trust	2.98%	63.95%	29.03%
IBIT iShares Bitcoin Trust ETF	-25.48%	-6.41%	99.21%

Correlation

The correlation between IAU and IBIT is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.14

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: 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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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	1.23	-0.89	+2.11
Sortino ratio: Return per unit of downside risk	1.62	-1.23	+2.84
Omega ratio: Gain probability vs. loss probability	1.24	0.86	+0.38
Calmar ratio: Return relative to maximum drawdown	1.69	-0.79	+2.47
Martin ratio: Return relative to average drawdown	4.19	-1.36	+5.55
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 1.23, which is higher than the IBIT Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of IAU and IBIT, 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	IBIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	-0.89	+2.11
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	0.30	+0.33

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 (3Y) Largest decline over 3 years	-19.18%	—	—
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	-17.70%	-48.10%	+30.40%
Average Drawdown Average peak-to-trough decline	-15.96%	-16.02%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.71%	28.44%	-20.73%

Volatility

IAU vs. IBIT - Volatility Comparison

The current volatility for iShares Gold Trust (IAU) is 5.50%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. 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	5.50%	9.50%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	23.02%	34.44%	-11.42%
Volatility (1Y) Calculated over the trailing 1-year period	26.42%	43.73%	-17.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	50.19%	-32.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	50.19%	-34.29%

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%.

Dividends

IAU vs. IBIT - Dividend Comparison

Neither IAU nor IBIT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IAU and IBIT in my portfolio?

IAU and IBIT have a correlation of 0.19, 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 IBIT?

IBIT has higher volatility (9.50%) compared to IAU (5.50%). In terms of maximum drawdown, IAU dropped -45.14% vs IBIT's -49.36%.

Which ETF is better, IAU or IBIT?

On 1-year performance, IAU leads with 32.20% vs -38.74% for IBIT. Both ETFs have the same 0.25% expense ratio. 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 IBIT?

Over the 1-year period, IAU has performed better with a 32.20% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAU or IBIT?

IAU and IBIT have the same expense ratio: 0.25% per year.

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

IAU and IBIT have nearly identical dividend yields, around 0.00%.

What is the main difference between IAU and IBIT?

IAU is categorized as Gold, while IBIT is Cryptocurrency. IAU tracks LBMA Gold Price, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant.

Which has better risk-adjusted returns?

IAU currently has the higher Sharpe Ratio (1.23 vs -0.89), 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.