IAU vs. MELI
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while MELI (MercadoLibre, Inc.) is a stock. Over the past 10 years, IAU returned 12.31%/yr vs 28.09%/yr for MELI. At a 0.06 correlation, their price movements are largely independent.
Performance
IAU vs. MELI - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -2.44% return, which is significantly higher than MELI's -21.08% return. Over the past 10 years, IAU has underperformed MELI with an annualized return of 12.31%, while MELI has yielded a comparatively higher 28.09% 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%
MELI
- 1D
- -1.27%
- 1M
- -1.11%
- YTD
- -21.08%
- 6M
- -21.15%
- 1Y
- -32.98%
- 3Y*
- 9.54%
- 5Y*
- 2.68%
- 10Y*
- 28.09%
IAU vs. MELI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
MELI MercadoLibre, Inc. | -21.08% | 18.46% | 8.20% | 85.71% | -37.24% | -19.51% | 192.90% | 95.30% | -6.93% | 101.99% |
Correlation
The correlation between IAU and MELI is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2007 | 0.06 |
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Return for Risk
IAU vs. MELI — Risk / Return Rank
IAU
MELI
IAU vs. MELI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and MercadoLibre, Inc. (MELI). 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 | MELI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.86 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.81 | +1.79 |
| Martin ratioReturn relative to average drawdown | 2.83 | -1.42 | +4.25 |
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Drawdowns
IAU vs. MELI - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for IAU and MELI.
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Drawdown Indicators
| IAU | MELI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -89.49% | +44.35% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -40.82% | +16.42% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -40.82% | +16.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -68.64% | +44.24% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -69.12% | +44.72% |
Current DrawdownCurrent decline from peak | -22.03% | -39.18% | +17.15% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -23.58% | +7.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 23.24% | -14.77% |
Volatility
IAU vs. MELI - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 7.70%, while MercadoLibre, Inc. (MELI) has a volatility of 9.96%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | MELI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 9.96% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 29.79% | -5.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 39.48% | -12.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 49.65% | -31.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 48.88% | -32.86% |
Dividends
IAU vs. MELI - Dividend Comparison
Neither IAU nor MELI has paid dividends to shareholders.
| 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% |
MELI MercadoLibre, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.19% | 0.38% | 0.36% |
Frequently Asked Questions
IAU and MELI 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.
MELI has higher volatility (9.96%) compared to IAU (7.70%). In terms of maximum drawdown, IAU dropped -45.14% vs MELI's -89.49%.
IAU currently has the higher Sharpe Ratio (0.89 vs -0.84), 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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