IAU vs. USRT
IAU (iShares Gold Trust) and USRT (iShares Core U.S. REIT ETF) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while USRT is a REIT fund tracking the FTSE Nareit Equity REITS 40 Act Capped Index. Both are passively managed. Over the past 10 years, IAU returned 11.76%/yr vs 6.53%/yr for USRT. At a 0.08 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.08%/yr for USRT.
Performance
IAU vs. USRT - 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 USRT's 17.49% return. Over the past 10 years, IAU has outperformed USRT with an annualized return of 11.76%, while USRT has yielded a comparatively lower 6.53% annualized 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%
USRT
- 1D
- 1.30%
- 1M
- 1.84%
- YTD
- 17.49%
- 6M
- 17.97%
- 1Y
- 18.57%
- 3Y*
- 14.08%
- 5Y*
- 5.53%
- 10Y*
- 6.53%
IAU vs. USRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -4.73% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
USRT iShares Core U.S. REIT ETF | 17.49% | 2.44% | 8.58% | 13.64% | -24.43% | 43.26% | -8.06% | 25.98% | -4.67% | 5.27% |
Correlation
The correlation between IAU and USRT 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 | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.08 |
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Return for Risk
IAU vs. USRT — Risk / Return Rank
IAU
USRT
IAU vs. USRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and iShares Core U.S. REIT ETF (USRT). 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 | USRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.32 | -1.44 |
| Martin ratioReturn relative to average drawdown | 2.37 | 7.44 | -5.07 |
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Drawdowns
IAU vs. USRT - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum USRT drawdown of -69.92%. Use the drawdown chart below to compare losses from any high point for IAU and USRT.
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Drawdown Indicators
| IAU | USRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -69.92% | +24.78% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -8.04% | -16.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -18.70% | -5.70% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -31.03% | +6.63% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -44.38% | +19.98% |
Current DrawdownCurrent decline from peak | -23.87% | -0.25% | -23.62% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -12.94% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.07% | 2.50% | +6.57% |
Volatility
IAU vs. USRT - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 8.10% compared to iShares Core U.S. REIT ETF (USRT) at 5.19%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | USRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 5.19% | +2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 10.06% | +14.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.38% | 13.89% | +13.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 18.93% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 21.33% | -5.35% |
IAU vs. USRT - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is higher than USRT's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IAU vs. USRT - Dividend Comparison
IAU has not paid dividends to shareholders, while USRT's dividend yield for the trailing twelve months is around 2.57%.
| 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% |
USRT iShares Core U.S. REIT ETF | 2.57% | 3.07% | 2.85% | 3.18% | 3.46% | 2.27% | 3.12% | 3.34% | 5.66% | 3.44% | 3.98% | 3.59% |
Frequently Asked Questions
IAU and USRT 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.
IAU has higher volatility (8.10%) compared to USRT (5.19%). In terms of maximum drawdown, IAU dropped -45.14% vs USRT's -69.92%.
On 10-year performance, IAU leads with 11.76% vs 6.53% for USRT. On fees, USRT is cheaper at 0.08% per year. On volatility, USRT has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAU has performed better with a 11.76% return vs 6.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USRT is cheaper with a 0.08% expense ratio, compared with 0.25% for IAU.
USRT has the higher dividend yield at 2.57%, compared with 0.00% for IAU.
IAU is categorized as Gold, while USRT is REIT. IAU tracks LBMA Gold Price, while USRT tracks FTSE Nareit Equity REITS 40 Act Capped Index. Their fees differ too: 0.25% for IAU and 0.08% for USRT.
USRT currently has the higher Sharpe Ratio (1.35 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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