IAUM vs. RAAX
IAUM (iShares Gold Trust Micro) and RAAX (VanEck Inflation Allocation ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while RAAX is a Diversified Portfolio fund actively managed by VanEck. IAUM is passively managed, while RAAX is actively managed. Over the past 3 years, IAUM returned 29.28%/yr vs 21.35%/yr for RAAX. A 0.55 correlation means they provide meaningful diversification when combined. IAUM charges 0.09%/yr vs 0.78%/yr for RAAX.
Performance
IAUM vs. RAAX - Performance Comparison
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Returns By Period
In the year-to-date period, IAUM achieves a -2.40% return, which is significantly lower than RAAX's 17.64% return.
IAUM
- 1D
- 0.10%
- 1M
- -7.37%
- YTD
- -2.40%
- 6M
- -2.08%
- 1Y
- 22.55%
- 3Y*
- 29.28%
- 5Y*
- —
- 10Y*
- —
RAAX
- 1D
- 2.26%
- 1M
- -1.84%
- YTD
- 17.64%
- 6M
- 17.56%
- 1Y
- 32.08%
- 3Y*
- 21.35%
- 5Y*
- 13.17%
- 10Y*
- —
IAUM vs. RAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | -2.40% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
RAAX VanEck Inflation Allocation ETF | 17.64% | 26.74% | 12.50% | 6.71% | 1.51% | 5.22% |
Correlation
The correlation between IAUM and RAAX is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.55 |
The correlation between IAUM and RAAX shifts across timeframes, from 0.55 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAUM vs. RAAX — Risk / Return Rank
IAUM
RAAX
IAUM vs. RAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and VanEck Inflation Allocation ETF (RAAX). 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 | RAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.43 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 4.68 | -3.68 |
| Martin ratioReturn relative to average drawdown | 2.87 | 16.90 | -14.03 |
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Drawdowns
IAUM vs. RAAX - Drawdown Comparison
The maximum IAUM drawdown since its inception was -24.37%, smaller than the maximum RAAX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for IAUM and RAAX.
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Drawdown Indicators
| IAUM | RAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.37% | -33.91% | +9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -24.37% | -7.17% | -17.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.37% | -11.59% | -12.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.55% | — |
Current DrawdownCurrent decline from peak | -21.99% | -3.77% | -18.22% |
Average DrawdownAverage peak-to-trough decline | -5.38% | -6.77% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.46% | 1.98% | +6.48% |
Volatility
IAUM vs. RAAX - Volatility Comparison
iShares Gold Trust Micro (IAUM) has a higher volatility of 7.71% compared to VanEck Inflation Allocation ETF (RAAX) at 4.67%. This indicates that IAUM's price experiences larger fluctuations and is considered to be riskier than RAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUM | RAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.71% | 4.67% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 23.82% | 12.21% | +11.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.06% | 14.18% | +12.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 15.70% | +2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 15.79% | +2.26% |
IAUM vs. RAAX - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is lower than RAAX's 0.78% expense ratio.
Dividends
IAUM vs. RAAX - Dividend Comparison
IAUM has not paid dividends to shareholders, while RAAX's dividend yield for the trailing twelve months is around 1.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RAAX VanEck Inflation Allocation ETF | 1.99% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% |
Frequently Asked Questions
IAUM and RAAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAUM has higher volatility (7.71%) compared to RAAX (4.67%). In terms of maximum drawdown, IAUM dropped -24.37% vs RAAX's -33.91%.
On 3-year performance, IAUM leads with 29.28% vs 21.35% for RAAX. On fees, IAUM is cheaper at 0.09% per year. On volatility, RAAX has been the lower-risk option at 4.67%. 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 29.28% return vs 21.35%. 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 0.78% for RAAX.
RAAX has the higher dividend yield at 1.99%, compared with 0.00% for IAUM.
IAUM is categorized as Gold, while RAAX is Diversified Portfolio. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.09% for IAUM and 0.78% for RAAX.
RAAX currently has the higher Sharpe Ratio (2.37 vs 0.90), 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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