IBIT vs. IAUM

Last updated Aug 1, 2026

IBIT (iShares Bitcoin Trust ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past year, IBIT returned -46.26% vs 23.04% for IAUM. Their 0.17 correlation means their historical movements had little consistent relationship. IBIT charges 0.25%/yr vs 0.09%/yr for IAUM.

Performance

IBIT vs. IAUM - Performance Comparison

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

Returns By Period

In the year-to-date period, IBIT achieves a -28.22% return, which is significantly lower than IAUM's -6.09% return.

IBIT

• 1D: -2.89%
• 1M: 4.82%
• 6M: -24.95%
• YTD: -28.22%
• 1Y: -46.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.01%

IAUM

• 1D: -1.46%
• 1M: 0.27%
• 6M: -16.73%
• YTD: -6.09%
• 1Y: 23.04%
• 3Y*: 27.63%
• 5Y*: 17.35%
• 10Y*: —
• ALL TIME*: 17.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IAUM iShares Gold Trust Micro	$77.48M	$77.88M	$93.44M
IBIT iShares Bitcoin Trust ETF	$1.30B	$1.34B	$1.68B

IBIT vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIT iShares Bitcoin Trust ETF	-28.22%	-6.41%	89.87%
IAUM iShares Gold Trust Micro	-6.09%	64.27%	29.49%

Correlation

The correlation between IBIT and IAUM is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.17

The correlation between IBIT and IAUM shifts across timeframes, from 0.17 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IBIT vs. IAUM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 1

IAUM

IAUM Risk / Return Rank: 31
IAUM Sharpe Ratio Rank: 34
IAUM Sortino Ratio Rank: 31
IAUM Omega Ratio Rank: 36
IAUM Calmar Ratio Rank: 28
IAUM Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBIT vs. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and iShares Gold Trust Micro (IAUM). 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	IAUM	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	0.83	-1.88
Sortino ratio: Return per unit of downside risk	-1.57	1.19	-2.77
Omega ratio: Gain probability vs. loss probability	0.83	1.17	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.87	0.88	-1.75
Martin ratio: Return relative to average drawdown	-1.34	1.90	-3.24

IBIT vs. IAUM - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -1.04, which is lower than the IAUM Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of IBIT and IAUM, 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

IBIT vs. IAUM - Drawdown Comparison

The maximum IBIT drawdown since its inception was -53.30%, which is greater than IAUM's maximum drawdown of -26.31%. Use the drawdown chart below to compare losses from any high point for IBIT and IAUM.

Drawdown Indicators

	IBIT	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-26.31%	-26.99%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-26.31%	-26.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.31%	—
Current Drawdown Current decline from peak	-50.01%	-24.95%	-25.06%
Average Drawdown Average peak-to-trough decline	-18.24%	-5.87%	-12.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.66%	12.14%	+22.52%

Volatility

IBIT vs. IAUM - Volatility Comparison

iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 9.21% compared to iShares Gold Trust Micro (IAUM) at 6.29%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIT	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.21%	6.29%	+2.92%
Volatility (6M) Calculated over the trailing 6-month period	33.74%	23.21%	+10.53%
Volatility (1Y) Calculated over the trailing 1-year period	44.46%	27.81%	+16.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.60%	18.33%	+31.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.60%	18.19%	+31.41%

IBIT vs. IAUM - Expense Ratio Comparison

IBIT has a 0.25% expense ratio, which is higher than IAUM's 0.09% 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. IAUM - Dividend Comparison

Neither IBIT nor IAUM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IBIT and IAUM in my portfolio?

IBIT and IAUM have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIT or IAUM?

IBIT has higher volatility (9.21%) compared to IAUM (6.29%). In terms of maximum drawdown, IBIT dropped -53.30% vs IAUM's -26.31%.

Which ETF is better, IBIT or IAUM?

On 1-year performance, IAUM leads with 23.04% vs -46.26% for IBIT. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIT or IAUM?

Over the 1-year period, IAUM has performed better with a 23.04% return vs -46.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIT or IAUM?

IAUM is cheaper with a 0.09% expense ratio, compared with 0.25% for IBIT.

Which ETF pays a higher dividend yield, IBIT or IAUM?

IBIT and IAUM have nearly identical dividend yields, around 0.00%.

What is the main difference between IBIT and IAUM?

IBIT is categorized as Cryptocurrency, while IAUM is Gold. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while IAUM tracks LBMA Gold Price PM. Their fees differ too: 0.25% for IBIT and 0.09% for IAUM.

Which has better risk-adjusted returns?

IAUM currently has the higher Sharpe Ratio (0.83 vs -1.04), 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.