IBIT vs. AAAU
IBIT (iShares Bitcoin Trust ETF) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past year, IBIT returned -39.67% vs 22.47% for AAAU. At a 0.14 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.18%/yr for AAAU.
Performance
IBIT vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than AAAU's -2.40% return.
IBIT
- 1D
- -0.03%
- 1M
- -19.59%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAAU
- 1D
- 0.12%
- 1M
- -7.36%
- YTD
- -2.40%
- 6M
- -2.14%
- 1Y
- 22.47%
- 3Y*
- 29.19%
- 5Y*
- 17.33%
- 10Y*
- —
IBIT vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
AAAU Goldman Sachs Physical Gold ETF | -2.40% | 64.06% | 29.42% |
Correlation
The correlation between IBIT and AAAU is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.14 |
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Return for Risk
IBIT vs. AAAU — Risk / Return Rank
IBIT
AAAU
IBIT vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| IBIT | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.19 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.99 | -1.78 |
| Martin ratioReturn relative to average drawdown | -1.37 | 2.86 | -4.23 |
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Drawdowns
IBIT vs. AAAU - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, which is greater than AAAU's maximum drawdown of -24.38%. Use the drawdown chart below to compare losses from any high point for IBIT and AAAU.
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Drawdown Indicators
| IBIT | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -24.38% | -27.73% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -24.38% | -27.73% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.38% | — |
Current DrawdownCurrent decline from peak | -49.45% | -21.95% | -27.50% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -6.23% | -10.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 8.44% | +21.20% |
Volatility
IBIT vs. AAAU - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to Goldman Sachs Physical Gold ETF (AAAU) at 7.77%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 7.77% | +4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 23.88% | +10.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 27.10% | +17.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 18.06% | +32.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 17.13% | +33.13% |
IBIT vs. AAAU - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is higher than AAAU's 0.18% 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
IBIT vs. AAAU - Dividend Comparison
Neither IBIT nor AAAU has paid dividends to shareholders.
Frequently Asked Questions
IBIT and AAAU have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to AAAU (7.77%). In terms of maximum drawdown, IBIT dropped -52.11% vs AAAU's -24.38%.
On 1-year performance, AAAU leads with 22.47% vs -39.67% for IBIT. On fees, AAAU is cheaper at 0.18% per year. On volatility, AAAU has been the lower-risk option at 7.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AAAU has performed better with a 22.47% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAAU is cheaper with a 0.18% expense ratio, compared with 0.25% for IBIT.
IBIT and AAAU have nearly identical dividend yields, around 0.00%.
IBIT is categorized as Cryptocurrency, while AAAU is Gold. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while AAAU tracks LBMA Gold PM Price. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.25% for IBIT and 0.18% for AAAU.
AAAU currently has the higher Sharpe Ratio (0.89 vs -0.92), 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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