IAUM vs. VMBS
IAUM (iShares Gold Trust Micro) and VMBS (Vanguard Mortgage-Backed Securities ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while VMBS is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. MBS Index. Both are passively managed. Over the past 3 years, IAUM returned 30.12%/yr vs 4.37%/yr for VMBS. At a 0.33 correlation, their price movements are largely independent. IAUM charges 0.09%/yr vs 0.04%/yr for VMBS.
Performance
IAUM vs. VMBS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IAUM having a 0.28% return and VMBS slightly lower at 0.27%.
IAUM
- 1D
- 0.21%
- 1M
- -8.41%
- YTD
- 0.28%
- 6M
- 3.16%
- 1Y
- 30.56%
- 3Y*
- 30.12%
- 5Y*
- —
- 10Y*
- —
VMBS
- 1D
- 0.04%
- 1M
- -0.83%
- YTD
- 0.27%
- 6M
- 0.91%
- 1Y
- 6.83%
- 3Y*
- 4.37%
- 5Y*
- 0.40%
- 10Y*
- 1.31%
IAUM vs. VMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.28% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
VMBS Vanguard Mortgage-Backed Securities ETF | 0.27% | 8.36% | 1.70% | 5.34% | -11.90% | -0.38% |
Correlation
The correlation between IAUM and VMBS 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 | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021 | 0.33 |
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Return for Risk
IAUM vs. VMBS — Risk / Return Rank
IAUM
VMBS
IAUM vs. VMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and Vanguard Mortgage-Backed Securities ETF (VMBS). 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 | VMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.55 | -1.02 |
| Martin ratioReturn relative to average drawdown | 3.84 | 8.40 | -4.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAUM | VMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.60 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.06 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.45 | +0.66 |
Drawdowns
IAUM vs. VMBS - Drawdown Comparison
The maximum IAUM drawdown since its inception was -20.87%, which is greater than VMBS's maximum drawdown of -17.47%. Use the drawdown chart below to compare losses from any high point for IAUM and VMBS.
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Drawdown Indicators
| IAUM | VMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.87% | -17.47% | -3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -20.02% | -2.68% | -17.34% |
Max Drawdown (3Y)Largest decline over 3 years | -20.02% | -7.65% | -12.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.47% | — |
Current DrawdownCurrent decline from peak | -19.85% | -1.71% | -18.14% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -2.49% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.98% | 0.81% | +7.17% |
Volatility
IAUM vs. VMBS - Volatility Comparison
iShares Gold Trust Micro (IAUM) has a higher volatility of 5.64% compared to Vanguard Mortgage-Backed Securities ETF (VMBS) at 1.56%. This indicates that IAUM's price experiences larger fluctuations and is considered to be riskier than VMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUM | VMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 1.56% | +4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 23.20% | 3.19% | +20.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.57% | 4.29% | +22.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.92% | 6.77% | +11.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 5.40% | +12.52% |
IAUM vs. VMBS - Expense Ratio Comparison
IAUM has a 0.09% expense ratio, which is higher than VMBS's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IAUM vs. VMBS - Dividend Comparison
IAUM has not paid dividends to shareholders, while VMBS's dividend yield for the trailing twelve months is around 4.20%.
| 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% |
VMBS Vanguard Mortgage-Backed Securities ETF | 4.20% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Frequently Asked Questions
IAUM and VMBS 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 (5.64%) compared to VMBS (1.56%). In terms of maximum drawdown, IAUM dropped -20.87% vs VMBS's -17.47%.
On 3-year performance, IAUM leads with 30.12% vs 4.37% for VMBS. On fees, VMBS is cheaper at 0.04% per year. On volatility, VMBS has been the lower-risk option at 1.56%. 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 30.12% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VMBS is cheaper with a 0.04% expense ratio, compared with 0.09% for IAUM.
VMBS has the higher dividend yield at 4.20%, compared with 0.00% for IAUM.
IAUM is categorized as Gold, while VMBS is Mortgage Backed Securities. IAUM tracks LBMA Gold Price PM, while VMBS tracks Barclays Capital U.S. MBS Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for IAUM and 0.04% for VMBS.
VMBS currently has the higher Sharpe Ratio (1.60 vs 1.16), 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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