IBDY vs. IAU

Last updated Jul 12, 2026

IBDY (iShares iBonds Dec 2033 Term Corporate ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IBDY is a Corporate Bonds fund tracking the Bloomberg December 2033 Maturity Corporate Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 3 years, IBDY returned 5.91%/yr vs 28.26%/yr for IAU. At a 0.25 correlation, their price movements are largely independent. IBDY charges 0.10%/yr vs 0.25%/yr for IAU.

Performance

IBDY vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2033 Term Corporate ETF (IBDY) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBDY achieves a -0.03% return, which is significantly higher than IAU's -4.82% return.

IBDY

• 1D: -0.08%
• 1M: -0.34%
• 6M: -0.11%
• YTD: -0.03%
• 1Y: 4.60%
• 3Y*: 5.91%
• 5Y*: —
• 10Y*: —

IAU

• 1D: -0.32%
• 1M: -2.44%
• 6M: -8.99%
• YTD: -4.82%
• 1Y: 22.05%
• 3Y*: 28.26%
• 5Y*: 17.54%
• 10Y*: 11.64%

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

IBDY vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBDY iShares iBonds Dec 2033 Term Corporate ETF	-0.03%	9.41%	2.02%	5.10%
IAU iShares Gold Trust	-4.82%	63.95%	26.85%	7.64%

Correlation

The correlation between IBDY and IAU is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.25

Return for Risk

IBDY vs. IAU — Risk / Return Rank

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

IBDY

IBDY Risk / Return Rank: 34
IBDY Sharpe Ratio Rank: 34
IBDY Sortino Ratio Rank: 34
IBDY Omega Ratio Rank: 32
IBDY Calmar Ratio Rank: 36
IBDY Martin Ratio Rank: 36

IAU

IAU Risk / Return Rank: 26
IAU Sharpe Ratio Rank: 28
IAU Sortino Ratio Rank: 26
IAU Omega Ratio Rank: 31
IAU Calmar Ratio Rank: 23
IAU Martin Ratio Rank: 22

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.

IBDY vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2033 Term Corporate ETF (IBDY) and iShares Gold Trust (IAU). 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.

	IBDY	IAU	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.85	+0.16
Sortino ratio: Return per unit of downside risk	1.50	1.21	+0.29
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.47	0.89	+0.57
Martin ratio: Return relative to average drawdown	4.35	2.21	+2.13

IBDY vs. IAU - Sharpe Ratio Comparison

The current IBDY Sharpe Ratio is 1.01, which is comparable to the IAU Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of IBDY and IAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBDY vs. IAU - Drawdown Comparison

The maximum IBDY drawdown since its inception was -7.53%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IBDY and IAU.

Drawdown Indicators

	IBDY	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-7.53%	-45.14%	+37.61%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-26.17%	+23.33%
Max Drawdown (3Y) Largest decline over 3 years	-7.44%	-26.17%	+18.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.17%	—
Current Drawdown Current decline from peak	-1.56%	-23.93%	+22.37%
Average Drawdown Average peak-to-trough decline	-1.56%	-15.99%	+14.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	10.54%	-9.58%

Volatility

IBDY vs. IAU - Volatility Comparison

The current volatility for iShares iBonds Dec 2033 Term Corporate ETF (IBDY) is 1.23%, while iShares Gold Trust (IAU) has a volatility of 8.21%. This indicates that IBDY experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBDY	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	8.21%	-6.98%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	23.89%	-20.75%
Volatility (1Y) Calculated over the trailing 1-year period	4.12%	27.58%	-23.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	18.28%	-11.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	16.03%	-9.73%

IBDY vs. IAU - Expense Ratio Comparison

IBDY has a 0.10% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBDY vs. IAU - Dividend Comparison

IBDY's dividend yield for the trailing twelve months is around 4.92%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IAU iShares Gold Trust	0.00%	0.00%	0.00%	0.00%
IBDY iShares iBonds Dec 2033 Term Corporate ETF	4.92%	4.87%	5.02%	2.20%

Frequently Asked Questions

Can I hold both IBDY and IAU in my portfolio?

IBDY and IAU have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBDY or IAU?

IAU has higher volatility (8.21%) compared to IBDY (1.23%). In terms of maximum drawdown, IBDY dropped -7.53% vs IAU's -45.14%.

Which ETF is better, IBDY or IAU?

On 3-year performance, IAU leads with 28.26% vs 5.91% for IBDY. On fees, IBDY is cheaper at 0.10% per year. On volatility, IBDY has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBDY or IAU?

Over the 3-year period, IAU has performed better with a 28.26% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBDY or IAU?

IBDY is cheaper with a 0.10% expense ratio, compared with 0.25% for IAU.

Which ETF pays a higher dividend yield, IBDY or IAU?

IBDY has the higher dividend yield at 4.92%, compared with 0.00% for IAU.

What is the main difference between IBDY and IAU?

IBDY is categorized as Corporate Bonds, while IAU is Gold. IBDY tracks Bloomberg December 2033 Maturity Corporate Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.10% for IBDY and 0.25% for IAU.

Which has better risk-adjusted returns?

IBDY currently has the higher Sharpe Ratio (1.01 vs 0.85), 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.