IAU vs. MARB
IAU (iShares Gold Trust) and MARB (First Trust Merger Arbitrage ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while MARB is a Long-Short fund actively managed by First Trust. IAU is passively managed, while MARB is actively managed. Over the past 5 years, IAU returned 18.02%/yr vs 2.96%/yr for MARB. At a 0.03 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 2.30%/yr for MARB.
Performance
IAU vs. MARB - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -4.73% return, which is significantly lower than MARB's 1.77% return.
IAU
- 1D
- -1.87%
- 1M
- -8.82%
- YTD
- -4.73%
- 6M
- -8.68%
- 1Y
- 21.45%
- 3Y*
- 28.61%
- 5Y*
- 18.02%
- 10Y*
- 11.76%
MARB
- 1D
- 0.94%
- 1M
- 0.57%
- YTD
- 1.77%
- 6M
- 1.89%
- 1Y
- 6.71%
- 3Y*
- 4.36%
- 5Y*
- 2.96%
- 10Y*
- —
IAU vs. MARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -4.73% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 22.01% |
MARB First Trust Merger Arbitrage ETF | 1.77% | 7.02% | 0.73% | 2.16% | 3.89% | 0.26% | -2.55% |
Correlation
The correlation between IAU and MARB is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020 | 0.03 |
The correlation between IAU and MARB shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. MARB — Risk / Return Rank
IAU
MARB
IAU vs. MARB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and First Trust Merger Arbitrage ETF (MARB). 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 | MARB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.78 | -1.89 |
| Martin ratioReturn relative to average drawdown | 2.37 | 22.96 | -20.59 |
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Drawdowns
IAU vs. MARB - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than MARB's maximum drawdown of -11.99%. Use the drawdown chart below to compare losses from any high point for IAU and MARB.
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Drawdown Indicators
| IAU | MARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -11.99% | -33.15% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -2.43% | -21.97% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -3.67% | -20.73% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -3.67% | -20.73% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | — | — |
Current DrawdownCurrent decline from peak | -23.87% | 0.00% | -23.87% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -1.39% | -14.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.07% | 0.29% | +8.78% |
Volatility
IAU vs. MARB - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 8.10% compared to First Trust Merger Arbitrage ETF (MARB) at 1.06%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than MARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | MARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 1.06% | +7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 2.35% | +21.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.38% | 5.35% | +22.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 4.28% | +13.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 5.59% | +10.39% |
IAU vs. MARB - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than MARB's 2.30% expense ratio.
Dividends
IAU vs. MARB - Dividend Comparison
IAU has not paid dividends to shareholders, while MARB's dividend yield for the trailing twelve months is around 2.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MARB First Trust Merger Arbitrage ETF | 2.96% | 3.01% | 2.11% | 2.20% | 0.99% |
Frequently Asked Questions
IAU and MARB 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.
IAU has higher volatility (8.10%) compared to MARB (1.06%). In terms of maximum drawdown, IAU dropped -45.14% vs MARB's -11.99%.
On 5-year performance, IAU leads with 18.02% vs 2.96% for MARB. On fees, IAU is cheaper at 0.25% per year. On volatility, MARB has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAU has performed better with a 18.02% return vs 2.96%. 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 2.30% for MARB.
MARB has the higher dividend yield at 2.96%, compared with 0.00% for IAU.
IAU is categorized as Gold, while MARB is Long-Short. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.25% for IAU and 2.30% for MARB.
MARB currently has the higher Sharpe Ratio (1.26 vs 0.79), 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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