IAUM vs. CGAU
IAUM (iShares Gold Trust Micro) is Gold fund tracking the LBMA Gold Price PM, while CGAU (Centerra Gold Inc) is a stock. Over the past 5 years, IAUM returned 17.75%/yr vs 18.60%/yr for CGAU. A 0.63 correlation means they provide meaningful diversification when combined.
Performance
IAUM vs. CGAU - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -4.79% return, which is significantly lower than CGAU's 13.53% return.
IAUM
- 1D
- -0.34%
- 1M
- -2.36%
- 6M
- -8.92%
- YTD
- -4.79%
- 1Y
- 22.29%
- 3Y*
- 28.48%
- 5Y*
- 17.75%
- 10Y*
- —
CGAU
- 1D
- 0.06%
- 1M
- 3.84%
- 6M
- 6.21%
- YTD
- 13.53%
- 1Y
- 125.65%
- 3Y*
- 41.80%
- 5Y*
- 18.60%
- 10Y*
- —
IAUM vs. CGAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | -4.79% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
CGAU Centerra Gold Inc | 13.53% | 159.49% | -1.45% | 19.37% | -32.55% | -2.78% |
Correlation
The correlation between IAUM and CGAU is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.63 |
The correlation between IAUM and CGAU has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
IAUM vs. CGAU — Risk / Return Rank
IAUM
CGAU
IAUM vs. CGAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and Centerra Gold Inc (CGAU). 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.
| IAUM | CGAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.36 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 4.42 | -3.52 |
| Martin ratioReturn relative to average drawdown | 2.24 | 11.31 | -9.07 |
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Drawdowns
IAUM vs. CGAU - Drawdown Comparison
The maximum IAUM drawdown since its inception was -26.14%, smaller than the maximum CGAU drawdown of -63.47%. Use the drawdown chart below to compare losses from any high point for IAUM and CGAU.
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Drawdown Indicators
| IAUM | CGAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.14% | -63.47% | +37.33% |
Max Drawdown (1Y)Largest decline over 1 year | -26.14% | -29.50% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -26.14% | -30.24% | +4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -26.14% | -63.47% | +37.33% |
Current DrawdownCurrent decline from peak | -23.91% | -22.42% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -5.64% | -29.49% | +23.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.52% | 11.52% | -1.00% |
Volatility
IAUM vs. CGAU - Volatility Comparison
The current volatility for iShares Gold Trust Micro (IAUM) is 8.24%, while Centerra Gold Inc (CGAU) has a volatility of 15.89%. This indicates that IAUM experiences smaller price fluctuations and is considered to be less risky than CGAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUM | CGAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 15.89% | -7.65% |
Volatility (6M)Calculated over the trailing 6-month period | 23.77% | 43.07% | -19.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.48% | 52.55% | -25.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 47.18% | -28.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.14% | 48.83% | -30.69% |
Dividends
IAUM vs. CGAU - Dividend Comparison
IAUM has not paid dividends to shareholders, while CGAU's dividend yield for the trailing twelve months is around 1.25%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CGAU Centerra Gold Inc | 1.25% | 1.39% | 3.59% | 3.45% |
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAUM and CGAU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGAU has higher volatility (15.89%) compared to IAUM (8.24%). In terms of maximum drawdown, IAUM dropped -26.14% vs CGAU's -63.47%.
CGAU currently has the higher Sharpe Ratio (2.48 vs 0.86), 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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