IBTA.L vs. IAU
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and IAU (iShares Gold Trust) are both exchange-traded funds - IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, IBTA.L returned 1.92%/yr vs 17.22%/yr for IAU. At a 0.21 correlation, their price movements are largely independent. IBTA.L charges 0.07%/yr vs 0.25%/yr for IAU.
Performance
IBTA.L vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IBTA.L achieves a 0.51% return, which is significantly higher than IAU's -7.61% return.
IBTA.L
- 1D
- 0.17%
- 1M
- 0.34%
- YTD
- 0.51%
- 6M
- 0.85%
- 1Y
- 3.12%
- 3Y*
- 4.33%
- 5Y*
- 1.92%
- 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%
IBTA.L vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.51% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.62% | 1.40% | -0.20% |
IAU iShares Gold Trust | -7.61% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 1.38% |
Correlation
The correlation between IBTA.L and IAU is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.21 |
The correlation between IBTA.L and IAU shifts across timeframes, from 0.08 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTA.L vs. IAU — Risk / Return Rank
IBTA.L
IAU
IBTA.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) 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.
| IBTA.L | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.15 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 0.75 | +3.87 |
| Martin ratioReturn relative to average drawdown | 15.80 | 2.14 | +13.66 |
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Drawdowns
IBTA.L vs. IAU - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IBTA.L and IAU.
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Drawdown Indicators
| IBTA.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -45.14% | +39.34% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -26.17% | +25.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -26.17% | +25.28% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -26.17% | +20.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.17% | — |
Current DrawdownCurrent decline from peak | 0.00% | -26.17% | +26.17% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -15.98% | +15.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 9.21% | -9.01% |
Volatility
IBTA.L vs. IAU - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.54%, while iShares Gold Trust (IAU) has a volatility of 8.50%. This indicates that IBTA.L 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
| IBTA.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 8.50% | -7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.13% | 24.42% | -23.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 27.55% | -25.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.17% | 18.24% | -16.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.93% | 16.01% | -14.08% |
IBTA.L vs. IAU - Expense Ratio Comparison
IBTA.L 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
IBTA.L vs. IAU - Dividend Comparison
Neither IBTA.L nor IAU has paid dividends to shareholders.
Frequently Asked Questions
IBTA.L and IAU have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.25% for IAU.
IBTA.L is categorized as Government Bonds, while IAU is Gold. IBTA.L tracks ICE US Treasury 1-3 Year Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.07% for IBTA.L and 0.25% for IAU.
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