IAU vs. MURGY
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while MURGY (Muenchener Rueckver Ges) is a stock. Over the past 10 years, IAU returned 12.71%/yr vs 16.33%/yr for MURGY. At a 0.11 correlation, their price movements are largely independent.
Performance
IAU vs. MURGY - 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 MURGY's -18.36% return. Over the past 10 years, IAU has underperformed MURGY with an annualized return of 12.71%, while MURGY has yielded a comparatively higher 16.33% 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%
MURGY
- 1D
- -0.13%
- 1M
- -12.87%
- YTD
- -18.36%
- 6M
- -13.37%
- 1Y
- -18.42%
- 3Y*
- 18.28%
- 5Y*
- 17.42%
- 10Y*
- 16.33%
IAU vs. MURGY - 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% |
MURGY Muenchener Rueckver Ges | -18.36% | 36.01% | 23.53% | 34.32% | 14.50% | 2.58% | 4.34% | 38.79% | 4.17% | 28.67% |
Correlation
The correlation between IAU and MURGY is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2008 | 0.11 |
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Return for Risk
IAU vs. MURGY — Risk / Return Rank
IAU
MURGY
IAU vs. MURGY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Muenchener Rueckver Ges (MURGY). 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 | MURGY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +2.55 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.88 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | -0.73 | +2.25 |
| Martin ratioReturn relative to average drawdown | 3.80 | -1.65 | +5.45 |
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 | MURGY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | -0.82 | +1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.72 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.63 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.50 | +0.12 |
Drawdowns
IAU vs. MURGY - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum MURGY drawdown of -48.01%. Use the drawdown chart below to compare losses from any high point for IAU and MURGY.
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Drawdown Indicators
| IAU | MURGY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -48.01% | +2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -20.04% | -25.23% | +5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | -25.23% | +5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -29.54% | +8.61% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -48.01% | +26.19% |
Current DrawdownCurrent decline from peak | -19.88% | -23.90% | +4.02% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -8.70% | -7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.99% | 11.19% | -3.20% |
Volatility
IAU vs. MURGY - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 5.64%, while Muenchener Rueckver Ges (MURGY) has a volatility of 8.59%. This indicates that IAU experiences smaller price fluctuations and is considered to be less risky than MURGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | MURGY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 8.59% | -2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | 16.93% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.68% | 22.48% | +4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 24.47% | -6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 25.96% | -10.02% |
Dividends
IAU vs. MURGY - Dividend Comparison
IAU has not paid dividends to shareholders, while MURGY's dividend yield for the trailing twelve months is around 5.39%.
| 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% |
MURGY Muenchener Rueckver Ges | 5.39% | 3.31% | 3.21% | 2.98% | 3.73% | 2.68% | 2.50% | 2.44% | 3.39% | 10.17% | 9.45% | 4.25% |
Frequently Asked Questions
IAU and MURGY have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MURGY has higher volatility (8.59%) compared to IAU (5.64%). In terms of maximum drawdown, IAU dropped -45.14% vs MURGY's -48.01%.
IAU currently has the higher Sharpe Ratio (1.14 vs -0.82), 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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