IAU vs. VOO
Compare and contrast key facts about iShares Gold Trust (IAU) and Vanguard S&P 500 ETF (VOO).
IAU and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both IAU and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IAU vs. VOO - Performance Comparison
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IAU vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 8.61% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, IAU achieves a 8.61% return, which is significantly higher than VOO's -4.42% return. Both investments have delivered pretty close results over the past 10 years, with IAU having a 14.08% annualized return and VOO not far behind at 14.05%.
IAU
- 1D
- 3.80%
- 1M
- -11.01%
- YTD
- 8.61%
- 6M
- 21.15%
- 1Y
- 49.53%
- 3Y*
- 33.12%
- 5Y*
- 21.78%
- 10Y*
- 14.08%
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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IAU vs. VOO - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is higher than VOO's 0.03% 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%.
Return for Risk
IAU vs. VOO — Risk / Return Rank
IAU
VOO
IAU vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.80 | 0.98 | +0.82 |
Sortino ratioReturn per unit of downside risk | 2.24 | 1.50 | +0.74 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.69 | 1.53 | +1.16 |
Martin ratioReturn relative to average drawdown | 9.97 | 7.29 | +2.68 |
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 | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 0.98 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.70 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.78 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.83 | -0.19 |
Correlation
The correlation between IAU and VOO is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IAU vs. VOO - Dividend Comparison
IAU has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.19%.
| 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% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
IAU vs. VOO - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for IAU and VOO.
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Drawdown Indicators
| IAU | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -33.99% | -11.15% |
Max Drawdown (1Y)Largest decline over 1 year | -19.18% | -11.98% | -7.20% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -24.52% | +3.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -33.99% | +12.17% |
Current DrawdownCurrent decline from peak | -13.20% | -6.29% | -6.91% |
Average DrawdownAverage peak-to-trough decline | -15.98% | -3.72% | -12.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.18% | 2.52% | +2.66% |
Volatility
IAU vs. VOO - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 11.02% compared to Vanguard S&P 500 ETF (VOO) at 5.29%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.02% | 5.29% | +5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 24.11% | 9.44% | +14.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.62% | 18.10% | +9.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 16.82% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.82% | 17.99% | -2.17% |