IBGB vs. IAU
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past year, IBGB returned 4.69% vs 19.64% for IAU. At a 0.14 correlation, their price movements are largely independent. IBGB charges 0.07%/yr vs 0.25%/yr for IAU.
Performance
IBGB vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IBGB achieves a 1.50% return, which is significantly higher than IAU's -7.61% return.
IBGB
- 1D
- 1.09%
- 1M
- 3.04%
- YTD
- 1.50%
- 6M
- 0.93%
- 1Y
- 4.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAU
- 1D
- -3.03%
- 1M
- -11.58%
- YTD
- -7.61%
- 6M
- -11.09%
- 1Y
- 19.64%
- 3Y*
- 27.30%
- 5Y*
- 17.22%
- 10Y*
- 11.42%
IBGB vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 1.50% | 2.62% |
IAU iShares Gold Trust | -7.61% | 42.43% |
Correlation
The correlation between IBGB and IAU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.14 |
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Return for Risk
IBGB vs. IAU — Risk / Return Rank
IBGB
IAU
IBGB vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) 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.
| IBGB | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.15 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | 0.75 | -0.06 |
| Martin ratioReturn relative to average drawdown | 1.77 | 2.14 | -0.37 |
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Drawdowns
IBGB vs. IAU - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IBGB and IAU.
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Drawdown Indicators
| IBGB | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -45.14% | +37.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -26.17% | +19.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.17% | — |
Current DrawdownCurrent decline from peak | -2.35% | -26.17% | +23.82% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -15.98% | +12.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 9.21% | -6.55% |
Volatility
IBGB vs. IAU - Volatility Comparison
The current volatility for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) is 2.22%, while iShares Gold Trust (IAU) has a volatility of 8.50%. This indicates that IBGB 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.
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Volatility by Period
| IBGB | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 8.50% | -6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 24.42% | -18.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.27% | 27.55% | -19.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.49% | 18.24% | -8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.49% | 16.01% | -6.52% |
IBGB vs. IAU - Expense Ratio Comparison
IBGB has a 0.07% 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
IBGB vs. IAU - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.55%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.55% | 3.53% |
Frequently Asked Questions
IBGB and IAU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (8.50%) compared to IBGB (2.22%). In terms of maximum drawdown, IBGB dropped -8.09% vs IAU's -45.14%.
On 1-year performance, IAU leads with 19.64% vs 4.69% for IBGB. On fees, IBGB is cheaper at 0.07% per year. On volatility, IBGB has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAU has performed better with a 19.64% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 0.25% for IAU.
IBGB has the higher dividend yield at 4.55%, compared with 0.00% for IAU.
IBGB is categorized as Government Bonds, while IAU is Gold. IBGB tracks ICE 2045 Maturity US Treasury Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.07% for IBGB and 0.25% for IAU.
IAU currently has the higher Sharpe Ratio (0.72 vs 0.57), 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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