IAUM vs. RING

Last updated Jun 4, 2026

IAUM (iShares Gold Trust Micro) and RING (iShares MSCI Global Gold Miners ETF) are both Gold funds from iShares - IAUM tracks the LBMA Gold Price PM while RING tracks the MSCI ACWI Select Gold Miners Investable Market Index. Both are passively managed. Over the past 3 years, IAUM returned 31.53%/yr vs 47.07%/yr for RING. A 0.78 correlation means they provide meaningful diversification when combined. IAUM charges 0.09%/yr vs 0.39%/yr for RING.

Performance

IAUM vs. RING - Performance Comparison

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

Returns By Period

In the year-to-date period, IAUM achieves a 3.00% return, which is significantly higher than RING's 0.30% return.

IAUM

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

RING

• 1D: -3.07%
• 1M: -0.66%
• YTD: 0.30%
• 6M: 7.49%
• 1Y: 67.87%
• 3Y*: 47.07%
• 5Y*: 19.93%
• 10Y*: 14.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IAUM vs. RING - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IAUM iShares Gold Trust Micro	3.00%	64.27%	27.04%	13.12%	-0.49%	3.87%
RING iShares MSCI Global Gold Miners ETF	0.30%	164.72%	15.98%	12.29%	-15.40%	-1.43%

Correlation

The correlation between IAUM and RING is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.78

The correlation between IAUM and RING has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

IAUM vs. RING - Sectors Allocation Comparison

Sectors	IAUM	RING
Real Estate	100.0%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IAUM vs. RING — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IAUM

IAUM Risk / Return Rank: 32
IAUM Sharpe Ratio Rank: 33
IAUM Sortino Ratio Rank: 29
IAUM Omega Ratio Rank: 36
IAUM Calmar Ratio Rank: 34
IAUM Martin Ratio Rank: 29

RING

RING Risk / Return Rank: 39
RING Sharpe Ratio Rank: 41
RING Sortino Ratio Rank: 35
RING Omega Ratio Rank: 39
RING Calmar Ratio Rank: 45
RING Martin Ratio Rank: 37

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. RING - Risk-Adjusted Trends Comparison

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

	IAUM	RING	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.49	-0.25
Sortino ratio: Return per unit of downside risk	1.63	1.87	-0.24
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.70	2.27	-0.56
Martin ratio: Return relative to average drawdown	4.22	5.85	-1.63
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. RING - Sharpe Ratio Comparison

The current IAUM Sharpe Ratio is 1.24, which is comparable to the RING Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of IAUM and RING, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IAUM	RING	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.49	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.10	+1.05

Drawdowns

IAUM vs. RING - Drawdown Comparison

The maximum IAUM drawdown since its inception was -20.87%, smaller than the maximum RING drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for IAUM and RING.

Drawdown Indicators

	IAUM	RING	Difference
Max Drawdown Largest peak-to-trough decline	-20.87%	-79.47%	+58.60%
Max Drawdown (1Y) Largest decline over 1 year	-19.15%	-30.11%	+10.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.15%	-30.11%	+10.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-47.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.04%	—
Current Drawdown Current decline from peak	-17.68%	-25.71%	+8.03%
Average Drawdown Average peak-to-trough decline	-5.30%	-47.41%	+42.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.70%	11.64%	-3.94%

Volatility

IAUM vs. RING - Volatility Comparison

The current volatility for iShares Gold Trust Micro (IAUM) is 5.50%, while iShares MSCI Global Gold Miners ETF (RING) has a volatility of 14.98%. This indicates that IAUM experiences smaller price fluctuations and is considered to be less risky than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUM	RING	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	14.98%	-9.48%
Volatility (6M) Calculated over the trailing 6-month period	22.89%	37.38%	-14.49%
Volatility (1Y) Calculated over the trailing 1-year period	26.31%	45.90%	-19.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.86%	36.46%	-18.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	36.53%	-18.67%

IAUM vs. RING - Expense Ratio Comparison

IAUM has a 0.09% expense ratio, which is lower than RING's 0.39% expense ratio.

Dividends

IAUM vs. RING - Dividend Comparison

IAUM has not paid dividends to shareholders, while RING's dividend yield for the trailing twelve months is around 0.83%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
RING iShares MSCI Global Gold Miners ETF	0.83%	0.84%	1.43%	2.01%	2.29%	2.38%	0.83%	0.83%	0.70%	0.42%	1.41%	0.96%

Frequently Asked Questions

Can I hold both IAUM and RING in my portfolio?

IAUM and RING have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUM or RING?

RING has higher volatility (14.98%) compared to IAUM (5.50%). In terms of maximum drawdown, IAUM dropped -20.87% vs RING's -79.47%.

Which ETF is better, IAUM or RING?

On 3-year performance, RING leads with 47.07% vs 31.53% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUM or RING?

Over the 3-year period, RING has performed better with a 47.07% return vs 31.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUM or RING?

IAUM is cheaper with a 0.09% expense ratio, compared with 0.39% for RING.

Which ETF pays a higher dividend yield, IAUM or RING?

RING has the higher dividend yield at 0.83%, compared with 0.00% for IAUM.

What is the main difference between IAUM and RING?

IAUM tracks LBMA Gold Price PM, while RING tracks MSCI ACWI Select Gold Miners Investable Market Index. Their fees differ too: 0.09% for IAUM and 0.39% for RING.

Which has better risk-adjusted returns?

RING currently has the higher Sharpe Ratio (1.49 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.