IAU vs. IBTA.L
IAU (iShares Gold Trust) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, IAU returned 17.02%/yr vs 1.89%/yr for IBTA.L. At a 0.21 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.07%/yr for IBTA.L.
Performance
IAU vs. IBTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -7.17% return, which is significantly lower than IBTA.L's 0.51% return.
IAU
- 1D
- -0.20%
- 1M
- -5.02%
- 6M
- -12.66%
- YTD
- -7.17%
- 1Y
- 19.36%
- 3Y*
- 26.56%
- 5Y*
- 17.02%
- 10Y*
- 11.43%
- ALL TIME*
- 10.67%
IBTA.L
- 1D
- -0.17%
- 1M
- 0.17%
- 6M
- 0.68%
- YTD
- 0.51%
- 1Y
- 2.94%
- 3Y*
- 4.26%
- 5Y*
- 1.89%
- 10Y*
- —
- ALL TIME*
- 1.87%
IAU vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -7.17% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 1.38% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.51% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.62% | 1.40% | -0.20% |
Correlation
The correlation between IAU and IBTA.L is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.21 |
The correlation between IAU and IBTA.L shifts across timeframes, from 0.09 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. IBTA.L — Risk / Return Rank
IAU
IBTA.L
IAU vs. IBTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L). 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 | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.54 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 4.36 | -3.62 |
| Martin ratioReturn relative to average drawdown | 1.72 | 15.19 | -13.47 |
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Drawdowns
IAU vs. IBTA.L - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than IBTA.L's maximum drawdown of -5.80%. Use the drawdown chart below to compare losses from any high point for IAU and IBTA.L.
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Drawdown Indicators
| IAU | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -5.80% | -39.34% |
Max Drawdown (1Y)Largest decline over 1 year | -26.36% | -0.67% | -25.69% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -0.89% | -25.47% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -5.70% | -20.66% |
Max Drawdown (10Y)Largest decline over 10 years | -26.36% | — | — |
Current DrawdownCurrent decline from peak | -25.81% | -0.17% | -25.64% |
Average DrawdownAverage peak-to-trough decline | -16.00% | -0.96% | -15.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.25% | 0.19% | +11.06% |
Volatility
IAU vs. IBTA.L - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 6.34% compared to iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) at 0.52%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than IBTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.34% | 0.52% | +5.82% |
Volatility (6M)Calculated over the trailing 6-month period | 24.03% | 1.17% | +22.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 1.55% | +26.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 2.18% | +16.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 1.93% | +14.12% |
IAU vs. IBTA.L - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is higher than IBTA.L's 0.07% 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. IBTA.L - Dividend Comparison
Neither IAU nor IBTA.L has paid dividends to shareholders.
Frequently Asked Questions
IAU and IBTA.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.25% for IAU.
IAU is categorized as Gold, while IBTA.L is Government Bonds. IAU tracks LBMA Gold Price, while IBTA.L tracks ICE US Treasury 1-3 Year Index. Their fees differ too: 0.25% for IAU and 0.07% for IBTA.L.
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