IAUM vs. HL
IAUM (iShares Gold Trust Micro) is Gold fund tracking the LBMA Gold Price PM, while HL (Hecla Mining Company) is a stock. Over the past 5 years, IAUM returned 17.75%/yr vs 17.81%/yr for HL. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
IAUM vs. HL - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -4.79% return, which is significantly higher than HL's -17.53% return.
IAUM
- 1D
- -0.34%
- 1M
- -2.36%
- 6M
- -8.92%
- YTD
- -4.79%
- 1Y
- 22.29%
- 3Y*
- 28.48%
- 5Y*
- 17.75%
- 10Y*
- —
HL
- 1D
- 0.19%
- 1M
- 5.54%
- 6M
- -29.50%
- YTD
- -17.53%
- 1Y
- 150.61%
- 3Y*
- 44.14%
- 5Y*
- 17.81%
- 10Y*
- 10.98%
IAUM vs. HL - 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% |
HL Hecla Mining Company | -17.53% | 291.70% | 2.82% | -12.93% | 6.99% | -29.53% |
Correlation
The correlation between IAUM and HL is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.62 |
The correlation between IAUM and HL has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
IAUM vs. HL — Risk / Return Rank
IAUM
HL
IAUM vs. HL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and Hecla Mining Company (HL). 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 | HL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.33 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 3.05 | -2.14 |
| Martin ratioReturn relative to average drawdown | 2.24 | 6.03 | -3.80 |
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Drawdowns
IAUM vs. HL - Drawdown Comparison
The maximum IAUM drawdown since its inception was -26.14%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for IAUM and HL.
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Drawdown Indicators
| IAUM | HL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.14% | -97.92% | +71.78% |
Max Drawdown (1Y)Largest decline over 1 year | -26.14% | -55.81% | +29.67% |
Max Drawdown (3Y)Largest decline over 3 years | -26.14% | -55.81% | +29.67% |
Max Drawdown (5Y)Largest decline over 5 years | -26.14% | -55.81% | +29.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.45% | — |
Current DrawdownCurrent decline from peak | -23.91% | -50.25% | +26.34% |
Average DrawdownAverage peak-to-trough decline | -5.64% | -69.90% | +64.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.52% | 28.11% | -17.59% |
Volatility
IAUM vs. HL - Volatility Comparison
The current volatility for iShares Gold Trust Micro (IAUM) is 8.24%, while Hecla Mining Company (HL) has a volatility of 17.79%. This indicates that IAUM experiences smaller price fluctuations and is considered to be less risky than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUM | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 17.79% | -9.55% |
Volatility (6M)Calculated over the trailing 6-month period | 23.77% | 53.33% | -29.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.48% | 73.28% | -45.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 59.43% | -41.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.14% | 62.82% | -44.68% |
Dividends
IAUM vs. HL - Dividend Comparison
IAUM has not paid dividends to shareholders, while HL's dividend yield for the trailing twelve months is around 0.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HL Hecla Mining Company | 0.09% | 0.08% | 0.81% | 0.65% | 0.40% | 0.72% | 0.25% | 0.29% | 0.42% | 0.25% | 0.19% | 0.53% |
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 HL have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HL has higher volatility (17.79%) compared to IAUM (8.24%). In terms of maximum drawdown, IAUM dropped -26.14% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (2.32 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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