IAU vs. VGCAX
IAU (iShares Gold Trust) and VGCAX (Vanguard Global Credit Bond Fund Admiral Shares) are both funds - IAU is a Gold fund tracking the LBMA Gold Price, while VGCAX is a Total Bond Market fund managed by Vanguard. Over the past 5 years, IAU returned 17.23%/yr vs 1.34%/yr for VGCAX. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
IAU vs. VGCAX - Performance Comparison
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Returns By Period
In the year-to-date period, IAU achieves a -2.44% return, which is significantly lower than VGCAX's 1.10% 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%
VGCAX
- 1D
- 0.52%
- 1M
- 0.68%
- YTD
- 1.10%
- 6M
- 1.56%
- 1Y
- 5.50%
- 3Y*
- 6.27%
- 5Y*
- 1.34%
- 10Y*
- —
IAU vs. VGCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | 5.86% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | 1.10% | 7.30% | 3.99% | 9.22% | -13.43% | -0.64% | 10.81% | 13.05% | 0.96% |
Correlation
The correlation between IAU and VGCAX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018 | 0.33 |
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Return for Risk
IAU vs. VGCAX — Risk / Return Rank
IAU
VGCAX
IAU vs. VGCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Vanguard Global Credit Bond Fund Admiral Shares (VGCAX). 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 | VGCAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 1.89 | -0.90 |
| Martin ratioReturn relative to average drawdown | 2.83 | 6.28 | -3.45 |
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Drawdowns
IAU vs. VGCAX - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than VGCAX's maximum drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for IAU and VGCAX.
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Drawdown Indicators
| IAU | VGCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -18.63% | -26.51% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -2.90% | -21.50% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -4.00% | -20.40% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -18.63% | -5.77% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | — | — |
Current DrawdownCurrent decline from peak | -22.03% | -0.64% | -21.39% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -4.33% | -11.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 0.87% | +7.60% |
Volatility
IAU vs. VGCAX - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 7.70% compared to Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) at 1.23%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than VGCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | VGCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 1.23% | +6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 2.64% | +21.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 3.32% | +23.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 5.07% | +13.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 4.84% | +11.18% |
IAU vs. VGCAX - Expense Ratio Comparison
Both IAU and VGCAX have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IAU vs. VGCAX - Dividend Comparison
IAU has not paid dividends to shareholders, while VGCAX's dividend yield for the trailing twelve months is around 4.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | 4.95% | 4.91% | 4.65% | 4.48% | 2.72% | 3.16% | 4.65% | 6.88% | 0.36% |
Frequently Asked Questions
IAU and VGCAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (7.70%) compared to VGCAX (1.23%). In terms of maximum drawdown, IAU dropped -45.14% vs VGCAX's -18.63%.
VGCAX currently has the higher Sharpe Ratio (1.65 vs 0.89), 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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