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 11.43%/yr vs 18.87%/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 -7.17% return, which is significantly lower than MURGY's -6.54% return. Over the past 10 years, IAU has underperformed MURGY with an annualized return of 11.43%, while MURGY has yielded a comparatively higher 18.87% annualized return.
IAU
- 1D
- -0.20%
- 1M
- -5.02%
- 6M
- -12.66%
- YTD
- -7.17%
- 1Y
- 19.36%
- 3Y*
- 26.56%
- 5Y*
- 17.02%
- 10Y*
- 11.43%
- ALL TIME*
- 10.67%
MURGY
- 1D
- -0.42%
- 1M
- 11.24%
- 6M
- 0.96%
- YTD
- -6.54%
- 1Y
- -7.52%
- 3Y*
- 20.20%
- 5Y*
- 21.53%
- 10Y*
- 18.87%
- ALL TIME*
- 15.07%
IAU vs. MURGY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -7.17% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
MURGY Muenchener Rueckver Ges | -6.54% | 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 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 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.
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 | MURGY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.96 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | -0.30 | +1.04 |
| Martin ratioReturn relative to average drawdown | 1.72 | -0.60 | +2.32 |
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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 | -26.36% | -25.23% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -25.23% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -29.54% | +3.18% |
Max Drawdown (10Y)Largest decline over 10 years | -26.36% | -48.01% | +21.65% |
Current DrawdownCurrent decline from peak | -25.81% | -12.88% | -12.93% |
Average DrawdownAverage peak-to-trough decline | -16.00% | -8.75% | -7.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.25% | 12.66% | -1.41% |
Volatility
IAU vs. MURGY - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 6.34% compared to Muenchener Rueckver Ges (MURGY) at 4.97%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier 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 | 6.34% | 4.97% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 24.03% | 16.78% | +7.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.86% | 22.48% | +5.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 24.32% | -5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 25.63% | -9.58% |
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 4.71%.
| 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 | 4.71% | 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 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (6.34%) compared to MURGY (4.97%). In terms of maximum drawdown, IAU dropped -45.14% vs MURGY's -48.01%.
IAU currently has the higher Sharpe Ratio (0.70 vs -0.34), 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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