PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IAU vs. INVA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAU vs. INVA

Last updated Jun 9, 2026

IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while INVA (Innoviva, Inc.) is a stock. Over the past 10 years, IAU returned 12.71%/yr vs 7.00%/yr for INVA. At a 0.03 correlation, their price movements are largely independent.

Performance

IAU vs. INVA - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, IAU achieves a 0.26% return, which is significantly lower than INVA's 11.71% return. Over the past 10 years, IAU has outperformed INVA with an annualized return of 12.71%, while INVA has yielded a comparatively lower 7.00% annualized return.

IAU

1D
0.20%
1M
-8.43%
YTD
0.26%
6M
3.08%
1Y
30.27%
3Y*
29.88%
5Y*
17.71%
10Y*
12.71%

INVA

1D
-0.84%
1M
-2.45%
YTD
11.71%
6M
6.33%
1Y
3.48%
3Y*
18.85%
5Y*
12.47%
10Y*
7.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAU vs. INVA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAU
iShares Gold Trust		0.26%63.95%26.85%12.84%-0.63%-4.00%25.03%17.98%-1.76%12.91%
INVA
Innoviva, Inc.		11.71%15.22%8.17%21.06%-23.19%39.23%-12.50%-18.85%22.97%32.62%

Correlation

The correlation between IAU and INVA is 0.06, 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

0.06

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.04

Correlation (10Y)
Calculated over the trailing 10-year period

-0.01

Correlation (All Time)
Calculated using the full available price history since Jan 31, 2005

0.03

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Trust

Innoviva, Inc.

Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS
Often compared with INVA:
INVA vs. UAMYINVA vs. ANIPINVA vs. OCULINVA vs. VOOINVA vs. QQQINVA vs. TMCINVA vs. ITT

Return for Risk

IAU vs. INVA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAU
IAU Risk / Return Rank: 3333
Overall Rank
IAU Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 3131
Sortino Ratio Rank
IAU Omega Ratio Rank: 3838
Omega Ratio Rank
IAU Calmar Ratio Rank: 3434
Calmar Ratio Rank
IAU Martin Ratio Rank: 2929
Martin Ratio Rank
INVA
INVA Risk / Return Rank: 4444
Overall Rank
INVA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
INVA Sortino Ratio Rank: 4242
Sortino Ratio Rank
INVA Omega Ratio Rank: 4040
Omega Ratio Rank
INVA Calmar Ratio Rank: 4646
Calmar Ratio Rank
INVA Martin Ratio Rank: 4646
Martin Ratio Rank
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. INVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Innoviva, Inc. (INVA). 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.

IAUINVADifference
Sharpe ratioReturn per unit of total volatility
1.14
0.12

+1.02

Sortino ratioReturn per unit of downside risk
1.52
0.44

+1.08

Omega ratioGain probability vs. loss probability

1.23

1.05

+0.18

Calmar ratioReturn relative to maximum drawdown

1.52

0.15

+1.37

Martin ratioReturn relative to average drawdown

3.80

0.34

+3.46

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. INVA - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 1.14, which is higher than the INVA Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of IAU and INVA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

IAUINVADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

0.12

+1.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

0.46

+0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.80

0.21

+0.59

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

0.05

+0.56

Drawdowns

IAU vs. INVA - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum INVA drawdown of -84.32%. Use the drawdown chart below to compare losses from any high point for IAU and INVA.

Loading charts...

Drawdown Indicators

IAUINVADifference

Max Drawdown

Largest peak-to-trough decline

-45.14%

-84.32%

+39.18%

Max Drawdown (1Y)

Largest decline over 1 year

-20.04%

-23.53%

+3.49%

Max Drawdown (3Y)

Largest decline over 3 years

-20.04%

-23.53%

+3.49%

Max Drawdown (5Y)

Largest decline over 5 years

-20.93%

-47.01%

+26.08%

Max Drawdown (10Y)

Largest decline over 10 years

-21.82%

-59.57%

+37.75%

Current Drawdown

Current decline from peak

-19.88%

-30.17%

+10.29%

Average Drawdown

Average peak-to-trough decline

-15.97%

-44.65%

+28.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.99%

10.21%

-2.22%

Volatility

IAU vs. INVA - Volatility Comparison

The current volatility for iShares Gold Trust (IAU) is 5.64%, while Innoviva, Inc. (INVA) has a volatility of 7.62%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than INVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IAUINVADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

7.62%

-1.98%

Volatility (6M)

Calculated over the trailing 6-month period

23.33%

16.91%

+6.42%

Volatility (1Y)

Calculated over the trailing 1-year period

26.68%

28.81%

-2.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.02%

27.28%

-9.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

33.89%

-17.95%

Dividends

IAU vs. INVA - Dividend Comparison

Neither IAU nor INVA has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
INVA
Innoviva, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%7.12%

Frequently Asked Questions

IAU and INVA have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INVA has higher volatility (7.62%) compared to IAU (5.64%). In terms of maximum drawdown, IAU dropped -45.14% vs INVA's -84.32%.

IAU currently has the higher Sharpe Ratio (1.14 vs 0.12), 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.

Portfolio Optimizer

Find the right allocation for IAU and INVA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer