IBGC vs. IAU

Last updated Jun 6, 2026

IBGC (iShares iBonds Dec 2046 Term Treasury ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IBGC is a Government Bonds fund tracking the ICE 2046 Maturity US Treasury Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. At a 0.47 correlation, their price movements are largely independent. IBGC charges 0.07%/yr vs 0.25%/yr for IAU.

Performance

IBGC vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2046 Term Treasury ETF (IBGC) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBGC

• 1D: -0.63%
• 1M: -1.05%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAU

• 1D: -3.63%
• 1M: -8.02%
• YTD: 0.06%
• 6M: 2.63%
• 1Y: 28.33%
• 3Y*: 29.73%
• 5Y*: 17.65%
• 10Y*: 12.97%

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

IBGC vs. IAU - Yearly Performance Comparison

	2026 (YTD)
IBGC iShares iBonds Dec 2046 Term Treasury ETF	0.21%
IAU iShares Gold Trust	-1.06%

Correlation

The correlation between IBGC and IAU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.47

Return for Risk

IBGC vs. IAU — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 29
IAU Sharpe Ratio Rank: 30
IAU Sortino Ratio Rank: 27
IAU Omega Ratio Rank: 33
IAU Calmar Ratio Rank: 30
IAU Martin Ratio Rank: 27

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.

IBGC vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2046 Term Treasury ETF (IBGC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBGC	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.07	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.98	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.61	-0.49

Drawdowns

IBGC vs. IAU - Drawdown Comparison

The maximum IBGC drawdown since its inception was -4.29%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IBGC and IAU.

Drawdown Indicators

	IBGC	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-4.29%	-45.14%	+40.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.82%	—
Current Drawdown Current decline from peak	-1.88%	-20.04%	+18.16%
Average Drawdown Average peak-to-trough decline	-1.27%	-15.97%	+14.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.89%	—

Volatility

Volatility by Period

	IBGC	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	26.67%	-18.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.40%	18.01%	-9.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.40%	15.94%	-7.54%

IBGC vs. IAU - Expense Ratio Comparison

IBGC 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

IBGC vs. IAU - Dividend Comparison

IBGC's dividend yield for the trailing twelve months is around 0.81%, while IAU has not paid dividends to shareholders.

Position	TTM
IAU iShares Gold Trust	0.00%
IBGC iShares iBonds Dec 2046 Term Treasury ETF	0.81%

Frequently Asked Questions

Can I hold both IBGC and IAU in my portfolio?

IBGC and IAU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBGC or IAU?

On fees, IBGC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBGC or IAU?

IBGC is cheaper with a 0.07% expense ratio, compared with 0.25% for IAU.

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

IBGC has the higher dividend yield at 0.81%, compared with 0.00% for IAU.

What is the main difference between IBGC and IAU?

IBGC is categorized as Government Bonds, while IAU is Gold. IBGC tracks ICE 2046 Maturity US Treasury Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.07% for IBGC and 0.25% for IAU.