IAU vs. JPM
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 10 years, IAU returned 12.71%/yr vs 20.32%/yr for JPM. At a correlation of -0.03, they often move in opposite directions.
Performance
IAU vs. JPM - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a 0.26% return, which is significantly higher than JPM's -2.52% return. Over the past 10 years, IAU has underperformed JPM with an annualized return of 12.71%, while JPM has yielded a comparatively higher 20.32% 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%
JPM
- 1D
- -0.40%
- 1M
- 2.98%
- YTD
- -2.52%
- 6M
- -0.35%
- 1Y
- 19.35%
- 3Y*
- 33.18%
- 5Y*
- 16.72%
- 10Y*
- 20.32%
IAU vs. JPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.26% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
JPM JPMorgan Chase & Co. | -2.52% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
Correlation
The correlation between IAU and JPM is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2005 | -0.03 |
The correlation between IAU and JPM shifts across timeframes, from -0.06 (10 years) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. JPM — Risk / Return Rank
IAU
JPM
IAU vs. JPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and JPMorgan Chase & Co. (JPM). 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 | JPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.17 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.26 | +0.26 |
| Martin ratioReturn relative to average drawdown | 3.80 | 2.98 | +0.82 |
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 | JPM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.90 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.69 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.74 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.34 | +0.27 |
Drawdowns
IAU vs. JPM - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for IAU and JPM.
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Drawdown Indicators
| IAU | JPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -76.16% | +31.02% |
Max Drawdown (1Y)Largest decline over 1 year | -20.04% | -15.47% | -4.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | -24.42% | +4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -38.77% | +17.84% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -43.63% | +21.81% |
Current DrawdownCurrent decline from peak | -19.88% | -6.55% | -13.33% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -17.62% | +1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.99% | 6.50% | +1.49% |
Volatility
IAU vs. JPM - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 5.64%, while JPMorgan Chase & Co. (JPM) has a volatility of 6.40%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | JPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 6.40% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | 17.38% | +5.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.68% | 21.62% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 24.45% | -6.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 27.40% | -11.46% |
Dividends
IAU vs. JPM - Dividend Comparison
IAU has not paid dividends to shareholders, while JPM's dividend yield for the trailing twelve months is around 1.90%.
| 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% |
JPM JPMorgan Chase & Co. | 1.90% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
Frequently Asked Questions
IAU and JPM have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPM has higher volatility (6.40%) compared to IAU (5.64%). In terms of maximum drawdown, IAU dropped -45.14% vs JPM's -76.16%.
IAU currently has the higher Sharpe Ratio (1.14 vs 0.90), 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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