IBIT vs. IAU

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Bitcoin Trust ETF (IBIT) and iShares Gold Trust (IAU).

IBIT and IAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBIT is a passively managed fund by iShares that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 5, 2024. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. Both IBIT and IAU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IBIT vs. IAU - Performance Comparison

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

IBIT vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIT iShares Bitcoin Trust ETF	-22.62%	-6.41%	99.21%
IAU iShares Gold Trust	8.61%	63.95%	29.03%

Returns By Period

In the year-to-date period, IBIT achieves a -22.62% return, which is significantly lower than IAU's 8.61% return.

IBIT

• 1D: 1.96%
• 1M: 3.31%
• YTD: -22.62%
• 6M: -40.89%
• 1Y: -17.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAU

• 1D: 3.80%
• 1M: -11.01%
• YTD: 8.61%
• 6M: 21.15%
• 1Y: 49.53%
• 3Y*: 33.12%
• 5Y*: 21.78%
• 10Y*: 14.08%

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

IBIT vs. IAU - Expense Ratio Comparison

Both IBIT and IAU have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

IBIT

iShares Bitcoin Trust ETF

IAU

iShares Gold Trust

Return for Risk

IBIT vs. IAU — Risk / Return Rank

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

IBIT

IBIT Risk / Return Rank: 6
IBIT Sharpe Ratio Rank: 5
IBIT Sortino Ratio Rank: 6
IBIT Omega Ratio Rank: 7
IBIT Calmar Ratio Rank: 6
IBIT Martin Ratio Rank: 6

IAU

IAU Risk / Return Rank: 87
IAU Sharpe Ratio Rank: 88
IAU Sortino Ratio Rank: 86
IAU Omega Ratio Rank: 86
IAU Calmar Ratio Rank: 89
IAU Martin Ratio Rank: 87

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.

IBIT vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.

	IBIT	IAU	Difference
Sharpe ratio Return per unit of total volatility	-0.40	1.80	-2.20
Sortino ratio Return per unit of downside risk	-0.29	2.24	-2.52
Omega ratio Gain probability vs. loss probability	0.97	1.33	-0.37
Calmar ratio Return relative to maximum drawdown	-0.39	2.69	-3.08
Martin ratio Return relative to average drawdown	-0.83	9.97	-10.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBIT vs. IAU - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -0.40, which is lower than the IAU Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IBIT and IAU, 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

	IBIT	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	1.80	-2.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.64	-0.29

Correlation

The correlation between IBIT and IAU is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IBIT vs. IAU - Dividend Comparison

Neither IBIT nor IAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

IBIT vs. IAU - Drawdown Comparison

The maximum IBIT drawdown since its inception was -49.36%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IBIT and IAU.

Drawdown Indicators

	IBIT	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-49.36%	-45.14%	-4.22%
Max Drawdown (1Y) Largest decline over 1 year	-49.36%	-19.18%	-30.18%
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	-46.11%	-13.20%	-32.91%
Average Drawdown Average peak-to-trough decline	-14.13%	-15.98%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.09%	5.18%	+17.91%

Volatility

IBIT vs. IAU - Volatility Comparison

iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.99% compared to iShares Gold Trust (IAU) at 11.02%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIT	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.99%	11.02%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	36.75%	24.11%	+12.64%
Volatility (1Y) Calculated over the trailing 1-year period	45.42%	27.62%	+17.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.26%	17.69%	+33.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.26%	15.82%	+35.44%