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IAUM vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAUM vs. ACWI

Last updated Jun 4, 2026

IAUM (iShares Gold Trust Micro) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 3 years, IAUM returned 31.53%/yr vs 21.15%/yr for ACWI. At a 0.20 correlation, their price movements are largely independent. IAUM charges 0.09%/yr vs 0.32%/yr for ACWI.

Performance

IAUM vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust Micro (IAUM) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAUM achieves a 3.00% return, which is significantly lower than ACWI's 12.13% return.

IAUM

1D
-0.96%
1M
-1.62%
YTD
3.00%
6M
5.58%
1Y
32.42%
3Y*
31.53%
5Y*
—
10Y*
—

ACWI

1D
-0.83%
1M
5.28%
YTD
12.13%
6M
12.96%
1Y
29.18%
3Y*
21.15%
5Y*
11.28%
10Y*
12.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAUM vs. ACWI - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IAUM
iShares Gold Trust Micro		3.00%64.27%27.04%13.12%-0.49%3.87%
ACWI
iShares MSCI ACWI ETF		12.13%22.41%17.45%22.27%-18.39%5.21%

Correlation

The correlation between IAUM and ACWI 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

0.24

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2021

0.20

IAUM vs. ACWI - Sectors Allocation Comparison

Sectors
IAUM
ACWI

Real Estate

100.0%
1.8%

Basic Materials

-

3.7%

Communication Services

-

9.0%

Consumer Cyclical

-

9.3%

Consumer Defensive

-

5.0%

Energy

-

4.2%

Financial Services

-

16.1%

Healthcare

-

8.1%

Industrials

-

10.9%

Technology

-

29.4%

Utilities

-

2.6%

Real Estate

IAUM
100.0%
ACWI
1.8%

Basic Materials

IAUM

-

ACWI
3.7%

Communication Services

IAUM

-

ACWI
9.0%

Consumer Cyclical

IAUM

-

ACWI
9.3%

Consumer Defensive

IAUM

-

ACWI
5.0%

Energy

IAUM

-

ACWI
4.2%

Financial Services

IAUM

-

ACWI
16.1%

Healthcare

IAUM

-

ACWI
8.1%

Industrials

IAUM

-

ACWI
10.9%

Technology

IAUM

-

ACWI
29.4%

Utilities

IAUM

-

ACWI
2.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Trust Micro

iShares MSCI ACWI ETF

Often compared with IAUM:
IAUM vs. IAUIAUM vs. GLDMIAUM vs. GLDIAUM vs. FSAGXIAUM vs. SGOLIAUM vs. PHYSIAUM vs. SIVR
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

IAUM vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAUM
IAUM Risk / Return Rank: 3232
Overall Rank
IAUM Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
IAUM Sortino Ratio Rank: 2929
Sortino Ratio Rank
IAUM Omega Ratio Rank: 3636
Omega Ratio Rank
IAUM Calmar Ratio Rank: 3434
Calmar Ratio Rank
IAUM Martin Ratio Rank: 2929
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6666
Overall Rank
ACWI Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6767
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6767
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5959
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IAUM vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and iShares MSCI ACWI ETF (ACWI). 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.

IAUMACWIDifference
Sharpe ratioReturn per unit of total volatility
1.24
2.29

-1.05

Sortino ratioReturn per unit of downside risk
1.63
3.17

-1.53

Omega ratioGain probability vs. loss probability

1.25

1.41

-0.17

Calmar ratioReturn relative to maximum drawdown

1.70

3.01

-1.31

Martin ratioReturn relative to average drawdown

4.22

13.53

-9.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAUM vs. ACWI - Sharpe Ratio Comparison

The current IAUM Sharpe Ratio is 1.24, which is lower than the ACWI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of IAUM and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IAUMACWIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.24

2.29

-1.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.71

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.75

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.16

0.43

+0.73

Drawdowns

IAUM vs. ACWI - Drawdown Comparison

The maximum IAUM drawdown since its inception was -20.87%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IAUM and ACWI.

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Drawdown Indicators

IAUMACWIDifference

Max Drawdown

Largest peak-to-trough decline

-20.87%

-56.00%

+35.13%

Max Drawdown (1Y)

Largest decline over 1 year

-19.15%

-9.73%

-9.42%

Max Drawdown (3Y)

Largest decline over 3 years

-19.15%

-16.55%

-2.60%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.42%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.53%

—

Current Drawdown

Current decline from peak

-17.68%

-0.83%

-16.85%

Average Drawdown

Average peak-to-trough decline

-5.30%

-8.61%

+3.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.70%

2.16%

+5.54%

Volatility

IAUM vs. ACWI - Volatility Comparison

iShares Gold Trust Micro (IAUM) has a higher volatility of 5.50% compared to iShares MSCI ACWI ETF (ACWI) at 3.93%. This indicates that IAUM's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAUMACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.50%

3.93%

+1.57%

Volatility (6M)

Calculated over the trailing 6-month period

22.89%

10.29%

+12.60%

Volatility (1Y)

Calculated over the trailing 1-year period

26.31%

12.78%

+13.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.86%

16.05%

+1.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.86%

17.11%

+0.75%

IAUM vs. ACWI - Expense Ratio Comparison

IAUM has a 0.09% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

IAUM vs. ACWI - Dividend Comparison

IAUM has not paid dividends to shareholders, while ACWI's dividend yield for the trailing twelve months is around 1.38%.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.38%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
IAUM
iShares Gold Trust Micro		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IAUM and ACWI 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.

IAUM has higher volatility (5.50%) compared to ACWI (3.93%). In terms of maximum drawdown, IAUM dropped -20.87% vs ACWI's -56.00%.

On 3-year performance, IAUM leads with 31.53% vs 21.15% for ACWI. On fees, IAUM is cheaper at 0.09% per year. On volatility, ACWI has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IAUM has performed better with a 31.53% return vs 21.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAUM is cheaper with a 0.09% expense ratio, compared with 0.32% for ACWI.

ACWI has the higher dividend yield at 1.38%, compared with 0.00% for IAUM.

IAUM is categorized as Gold, while ACWI is Global Equities. IAUM tracks LBMA Gold Price PM, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.09% for IAUM and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (2.29 vs 1.24), 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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