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IAU vs. IWV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAU vs. IWV

Last updated Jun 13, 2026

IAU (iShares Gold Trust) and IWV (iShares Russell 3000 ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Both are passively managed. Over the past 10 years, IAU returned 12.31%/yr vs 14.84%/yr for IWV. At a 0.07 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.20%/yr for IWV.

Performance

IAU vs. IWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust (IAU) and iShares Russell 3000 ETF (IWV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAU achieves a -2.44% return, which is significantly lower than IWV's 9.30% return. Over the past 10 years, IAU has underperformed IWV with an annualized return of 12.31%, while IWV has yielded a comparatively higher 14.84% annualized return.

IAU

1D
0.08%
1M
-9.54%
YTD
-2.44%
6M
-2.22%
1Y
22.32%
3Y*
29.07%
5Y*
17.23%
10Y*
12.31%

IWV

1D
0.53%
1M
-0.32%
YTD
9.30%
6M
9.38%
1Y
25.70%
3Y*
20.32%
5Y*
12.07%
10Y*
14.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAU vs. IWV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAU
iShares Gold Trust		-2.44%63.95%26.85%12.84%-0.63%-4.00%25.03%17.98%-1.76%12.91%
IWV
iShares Russell 3000 ETF		9.30%16.96%23.49%25.82%-19.28%25.54%20.55%30.66%-5.43%20.97%

Correlation

The correlation between IAU and IWV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

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

0.18

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

0.14

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

0.07

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2005

0.07

The correlation between IAU and IWV shifts across timeframes, from 0.07 (10 years) to 0.24 (1 year), reflecting how their relationship changes across market environments.

IAU vs. IWV - Sectors Allocation Comparison

Sectors
IAU
IWV

Real Estate

100.0%
2.4%

Basic Materials

-

2.2%

Communication Services

-

10.5%

Consumer Cyclical

-

10.2%

Consumer Defensive

-

4.7%

Energy

-

3.8%

Financial Services

-

12.2%

Healthcare

-

9.1%

Industrials

-

9.6%

Technology

-

33.1%

Utilities

-

2.3%

Real Estate

IAU
100.0%
IWV
2.4%

Basic Materials

IAU

-

IWV
2.2%

Communication Services

IAU

-

IWV
10.5%

Consumer Cyclical

IAU

-

IWV
10.2%

Consumer Defensive

IAU

-

IWV
4.7%

Energy

IAU

-

IWV
3.8%

Financial Services

IAU

-

IWV
12.2%

Healthcare

IAU

-

IWV
9.1%

Industrials

IAU

-

IWV
9.6%

Technology

IAU

-

IWV
33.1%

Utilities

IAU

-

IWV
2.3%

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

iShares Russell 3000 ETF

Often compared with IAU:
IAU vs. GLDIAU vs. GLDMIAU vs. IAUMIAU vs. SGOLIAU vs. GDXIAU vs. VOOIAU vs. PHYS
Often compared with IWV:
IWV vs. SPYIWV vs. VTIIWV vs. IWMIWV vs. ACWXIWV vs. VTHRIWV vs. IVVIWV vs. RSP

Return for Risk

IAU vs. IWV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAU
IAU Risk / Return Rank: 2626
Overall Rank
IAU Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 2525
Sortino Ratio Rank
IAU Omega Ratio Rank: 3030
Omega Ratio Rank
IAU Calmar Ratio Rank: 2424
Calmar Ratio Rank
IAU Martin Ratio Rank: 2424
Martin Ratio Rank
IWV
IWV Risk / Return Rank: 6868
Overall Rank
IWV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
IWV Sortino Ratio Rank: 6767
Sortino Ratio Rank
IWV Omega Ratio Rank: 6868
Omega Ratio Rank
IWV Calmar Ratio Rank: 6262
Calmar Ratio Rank
IWV Martin Ratio Rank: 7575
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. IWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares Russell 3000 ETF (IWV). 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.

IAUIWVDifference
Sharpe ratioReturn per unit of total volatility
0.89
1.94

-1.05

Sortino ratioReturn per unit of downside risk
1.25
2.64

-1.39

Omega ratioGain probability vs. loss probability

1.19

1.35

-0.16

Calmar ratioReturn relative to maximum drawdown

0.99

2.74

-1.75

Martin ratioReturn relative to average drawdown

2.83

12.28

-9.45

IAU vs. IWV - Sharpe Ratio Comparison

The current IAU Sharpe Ratio is 0.89, which is lower than the IWV Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of IAU and IWV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IAU vs. IWV - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum IWV drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for IAU and IWV.

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Drawdown Indicators

IAUIWVDifference

Max Drawdown

Largest peak-to-trough decline

-45.14%

-55.61%

+10.47%

Max Drawdown (1Y)

Largest decline over 1 year

-24.40%

-8.89%

-15.51%

Max Drawdown (3Y)

Largest decline over 3 years

-24.40%

-19.28%

-5.12%

Max Drawdown (5Y)

Largest decline over 5 years

-24.40%

-25.11%

+0.71%

Max Drawdown (10Y)

Largest decline over 10 years

-24.40%

-35.22%

+10.82%

Current Drawdown

Current decline from peak

-22.03%

-2.09%

-19.94%

Average Drawdown

Average peak-to-trough decline

-15.97%

-10.58%

-5.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.47%

1.98%

+6.49%

Volatility

IAU vs. IWV - Volatility Comparison

iShares Gold Trust (IAU) has a higher volatility of 7.70% compared to iShares Russell 3000 ETF (IWV) at 4.44%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than IWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAUIWVDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.70%

4.44%

+3.26%

Volatility (6M)

Calculated over the trailing 6-month period

23.94%

9.75%

+14.19%

Volatility (1Y)

Calculated over the trailing 1-year period

27.17%

12.57%

+14.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.16%

17.30%

+0.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.02%

18.43%

-2.41%

IAU vs. IWV - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is higher than IWV's 0.20% 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. IWV - Dividend Comparison

IAU has not paid dividends to shareholders, while IWV's dividend yield for the trailing twelve months is around 0.87%.

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%
IWV
iShares Russell 3000 ETF		0.87%0.96%1.08%1.30%1.56%1.04%1.30%1.69%1.97%1.58%1.79%1.99%

Frequently Asked Questions

IAU and IWV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAU has higher volatility (7.70%) compared to IWV (4.44%). In terms of maximum drawdown, IAU dropped -45.14% vs IWV's -55.61%.

On 10-year performance, IWV leads with 14.84% vs 12.31% for IAU. On fees, IWV is cheaper at 0.20% per year. On volatility, IWV has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWV has performed better with a 14.84% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWV is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

IWV has the higher dividend yield at 0.87%, compared with 0.00% for IAU.

IAU is categorized as Gold, while IWV is Large Cap Blend Equities. IAU tracks LBMA Gold Price, while IWV tracks Russell 3000 Index. Their fees differ too: 0.25% for IAU and 0.20% for IWV.

IWV currently has the higher Sharpe Ratio (1.94 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.

Portfolio Optimizer

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