IAU vs. IYW
IAU (iShares Gold Trust) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, IAU returned 13.31%/yr vs 26.11%/yr for IYW. At a 0.04 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.38%/yr for IYW.
Performance
IAU vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a 2.98% return, which is significantly lower than IYW's 29.03% return. Over the past 10 years, IAU has underperformed IYW with an annualized return of 13.31%, while IYW has yielded a comparatively higher 26.11% annualized 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%
IYW
- 1D
- -0.92%
- 1M
- 16.53%
- YTD
- 29.03%
- 6M
- 28.22%
- 1Y
- 59.52%
- 3Y*
- 35.24%
- 5Y*
- 22.87%
- 10Y*
- 26.11%
IAU vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 2.98% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
IYW iShares U.S. Technology ETF | 29.03% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between IAU and IYW is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2005 | 0.04 |
The correlation between IAU and IYW shifts across timeframes, from 0.04 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. IYW — Risk / Return Rank
IAU
IYW
IAU vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.48 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 3.36 | -1.67 |
| Martin ratioReturn relative to average drawdown | 4.19 | 11.00 | -6.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAU | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 2.98 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.89 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 1.04 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.35 | +0.27 |
Drawdowns
IAU vs. IYW - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for IAU and IYW.
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Drawdown Indicators
| IAU | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -81.90% | +36.76% |
Max Drawdown (1Y)Largest decline over 1 year | -19.18% | -17.81% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -26.47% | +7.29% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -39.44% | +18.51% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -39.44% | +17.62% |
Current DrawdownCurrent decline from peak | -17.70% | -0.92% | -16.78% |
Average DrawdownAverage peak-to-trough decline | -15.96% | -34.66% | +18.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.71% | 5.43% | +2.28% |
Volatility
IAU vs. IYW - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 5.50%, while iShares U.S. Technology ETF (IYW) has a volatility of 6.30%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 6.30% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 23.02% | 15.85% | +7.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.42% | 20.09% | +6.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.95% | 25.87% | -7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 25.09% | -9.19% |
IAU vs. IYW - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than IYW's 0.38% expense ratio.
Dividends
IAU vs. IYW - Dividend Comparison
IAU has not paid dividends to shareholders, while IYW's dividend yield for the trailing twelve months is around 0.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IAU and IYW have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (6.30%) compared to IAU (5.50%). In terms of maximum drawdown, IAU dropped -45.14% vs IYW's -81.90%.
On 10-year performance, IYW leads with 26.11% vs 13.31% for IAU. On fees, IAU is cheaper at 0.25% per year. 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.
Over the 10-year period, IYW has performed better with a 26.11% return vs 13.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU is cheaper with a 0.25% expense ratio, compared with 0.38% for IYW.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for IAU.
IAU is categorized as Gold, while IYW is Technology Equities. IAU tracks LBMA Gold Price, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.25% for IAU and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.98 vs 1.23), 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.
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