IAUP.L vs. GLDI.L

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Gold Producers UCITS ETF USD Acc (IAUP.L) and IncomeShares Gold+ Yield ETP (GLDI.L).

IAUP.L and GLDI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAUP.L is a passively managed fund by iShares that tracks the performance of the S&P Commodity Producers Gold Index. It was launched on Sep 19, 2011. GLDI.L is an actively managed fund by Leverage Shares. It was launched on Jul 22, 2024.

Performance

IAUP.L vs. GLDI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Producers UCITS ETF USD Acc (IAUP.L) and IncomeShares Gold+ Yield ETP (GLDI.L). The values are adjusted to include any dividend payments, if applicable.

IAUP.L vs. GLDI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAUP.L iShares Gold Producers UCITS ETF USD Acc	5.63%	153.95%	-6.57%
GLDI.L IncomeShares Gold+ Yield ETP	2.69%	61.04%	6.19%

Returns By Period

In the year-to-date period, IAUP.L achieves a 5.63% return, which is significantly higher than GLDI.L's 2.69% return.

IAUP.L

• 1D: 2.73%
• 1M: -21.06%
• YTD: 5.63%
• 6M: 20.08%
• 1Y: 100.53%
• 3Y*: 42.85%
• 5Y*: 23.37%
• 10Y*: 17.46%

GLDI.L

• 1D: 2.61%
• 1M: -9.91%
• YTD: 2.69%
• 6M: 13.27%
• 1Y: 37.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAUP.L vs. GLDI.L - Expense Ratio Comparison

IAUP.L has a 0.55% expense ratio, which is higher than GLDI.L's 0.35% expense ratio.

IAUP.L

iShares Gold Producers UCITS ETF USD Acc

GLDI.L

IncomeShares Gold+ Yield ETP

Return for Risk

IAUP.L vs. GLDI.L — Risk / Return Rank

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

IAUP.L

IAUP.L Risk / Return Rank: 91
IAUP.L Sharpe Ratio Rank: 94
IAUP.L Sortino Ratio Rank: 91
IAUP.L Omega Ratio Rank: 87
IAUP.L Calmar Ratio Rank: 92
IAUP.L Martin Ratio Rank: 90

GLDI.L

GLDI.L Risk / Return Rank: 82
GLDI.L Sharpe Ratio Rank: 85
GLDI.L Sortino Ratio Rank: 81
GLDI.L Omega Ratio Rank: 82
GLDI.L Calmar Ratio Rank: 81
GLDI.L Martin Ratio Rank: 82

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.

IAUP.L vs. GLDI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF USD Acc (IAUP.L) and IncomeShares Gold+ Yield ETP (GLDI.L). 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.

	IAUP.L	GLDI.L	Difference
Sharpe ratio Return per unit of total volatility	2.31	1.71	+0.60
Sortino ratio Return per unit of downside risk	2.61	2.09	+0.52
Omega ratio Gain probability vs. loss probability	1.35	1.32	+0.03
Calmar ratio Return relative to maximum drawdown	3.37	2.27	+1.09
Martin ratio Return relative to average drawdown	11.77	8.90	+2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAUP.L vs. GLDI.L - Sharpe Ratio Comparison

The current IAUP.L Sharpe Ratio is 2.31, which is higher than the GLDI.L Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of IAUP.L and GLDI.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IAUP.L	GLDI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	1.71	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	2.09	-1.99

Correlation

The correlation between IAUP.L and GLDI.L is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IAUP.L vs. GLDI.L - Dividend Comparison

IAUP.L has not paid dividends to shareholders, while GLDI.L's dividend yield for the trailing twelve months is around 11.85%.

	TTM	2025	2024
IAUP.L iShares Gold Producers UCITS ETF USD Acc	0.00%	0.00%	0.00%
GLDI.L IncomeShares Gold+ Yield ETP	11.85%	9.15%	1.08%

Drawdowns

IAUP.L vs. GLDI.L - Drawdown Comparison

The maximum IAUP.L drawdown since its inception was -79.95%, which is greater than GLDI.L's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for IAUP.L and GLDI.L.

Drawdown Indicators

	IAUP.L	GLDI.L	Difference
Max Drawdown Largest peak-to-trough decline	-79.95%	-16.47%	-63.48%
Max Drawdown (1Y) Largest decline over 1 year	-28.57%	-16.47%	-12.10%
Max Drawdown (5Y) Largest decline over 5 years	-45.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.26%	—	—
Current Drawdown Current decline from peak	-21.06%	-12.11%	-8.95%
Average Drawdown Average peak-to-trough decline	-49.90%	-2.52%	-47.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.17%	4.21%	+3.96%

Volatility

IAUP.L vs. GLDI.L - Volatility Comparison

iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a higher volatility of 17.11% compared to IncomeShares Gold+ Yield ETP (GLDI.L) at 10.65%. This indicates that IAUP.L's price experiences larger fluctuations and is considered to be riskier than GLDI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUP.L	GLDI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.11%	10.65%	+6.46%
Volatility (6M) Calculated over the trailing 6-month period	35.16%	19.26%	+15.90%
Volatility (1Y) Calculated over the trailing 1-year period	43.34%	22.08%	+21.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.50%	18.84%	+15.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.57%	18.84%	+15.73%