IAU vs. WM
IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, IAU returned 12.31%/yr vs 15.36%/yr for WM. At a 0.04 correlation, their price movements are largely independent.
Performance
IAU vs. WM - 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 WM's 0.71% return. Over the past 10 years, IAU has underperformed WM with an annualized return of 12.31%, while WM has yielded a comparatively higher 15.36% annualized return.
IAU
- 1D
- 0.08%
- 1M
- -7.39%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
IAU vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Correlation
The correlation between IAU and WM is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2005 | 0.04 |
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Return for Risk
IAU vs. WM — Risk / Return Rank
IAU
WM
IAU vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) and Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.96 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.36 | +1.35 |
| Martin ratioReturn relative to average drawdown | 2.83 | -0.79 | +3.63 |
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Drawdowns
IAU vs. WM - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for IAU and WM.
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Drawdown Indicators
| IAU | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -77.85% | +32.71% |
Max Drawdown (1Y)Largest decline over 1 year | -24.40% | -16.70% | -7.70% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -18.14% | -6.26% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -18.14% | -6.26% |
Max Drawdown (10Y)Largest decline over 10 years | -24.40% | -30.07% | +5.67% |
Current DrawdownCurrent decline from peak | -22.03% | -10.24% | -11.79% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -17.69% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 7.58% | +0.89% |
Volatility
IAU vs. WM - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 7.70% compared to Waste Management, Inc. (WM) at 6.13%. This indicates that IAU's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAU | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 6.13% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 23.94% | 14.08% | +9.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.17% | 19.03% | +8.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 18.62% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.02% | 19.54% | -3.52% |
Dividends
IAU vs. WM - Dividend Comparison
IAU has not paid dividends to shareholders, while WM's dividend yield for the trailing twelve months is around 1.61%.
| 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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
IAU and WM have a correlation of -0.01, 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 WM (6.13%). In terms of maximum drawdown, IAU dropped -45.14% vs WM's -77.85%.
IAU currently has the higher Sharpe Ratio (0.89 vs -0.32), 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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