PortfoliosLab logoPortfoliosLab logo
IEMG vs. IAU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

IEMG vs. IAU - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, IEMG achieves a 21.95% return, which is significantly higher than IAU's -4.73% return. Over the past 10 years, IEMG has underperformed IAU with an annualized return of 10.38%, while IAU has yielded a comparatively higher 11.76% annualized return.


IEMG

1D
-5.44%
1M
1.74%
YTD
21.95%
6M
22.64%
1Y
43.66%
3Y*
22.14%
5Y*
7.05%
10Y*
10.38%

IAU

1D
-1.87%
1M
-8.82%
YTD
-4.73%
6M
-8.68%
1Y
21.45%
3Y*
28.61%
5Y*
18.02%
10Y*
11.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMG vs. IAU - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
IEMG
iShares Core MSCI Emerging Markets ETF
21.95%32.56%6.50%11.52%-19.98%-0.64%17.87%17.81%-14.92%37.38%
IAU
iShares Gold Trust
-4.73%63.95%26.85%12.84%-0.63%-4.00%25.03%17.98%-1.76%12.91%

Correlation

The correlation between IEMG and IAU is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.18

Over the past year, IEMG and IAU have become more correlated (0.40) than their long-term average of 0.18, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Return for Risk

IEMG vs. IAU — Risk / Return Rank

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

IEMG
IEMG Risk / Return Rank: 6464
Overall Rank
IEMG Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
IEMG Sortino Ratio Rank: 5555
Sortino Ratio Rank
IEMG Omega Ratio Rank: 6666
Omega Ratio Rank
IEMG Calmar Ratio Rank: 6969
Calmar Ratio Rank
IEMG Martin Ratio Rank: 6868
Martin Ratio Rank

IAU
IAU Risk / Return Rank: 2222
Overall Rank
IAU Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
IAU Sortino Ratio Rank: 2121
Sortino Ratio Rank
IAU Omega Ratio Rank: 2424
Omega Ratio Rank
IAU Calmar Ratio Rank: 2020
Calmar Ratio Rank
IAU Martin Ratio Rank: 2020
Martin Ratio Rank
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.

IEMG vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) 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.


IEMGIAUDifference
Sharpe ratioReturn per unit of total volatility

+1.20

Sortino ratioReturn per unit of downside risk

+1.42

Omega ratioGain probability vs. loss probability

1.38

1.17

+0.22

Calmar ratioReturn relative to maximum drawdown

3.32

0.88

+2.44

Martin ratioReturn relative to average drawdown

12.15

2.37

+9.77

IEMG vs. IAU - Sharpe Ratio Comparison

The current IEMG Sharpe Ratio is 1.98, which is higher than the IAU Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of IEMG and IAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


Loading charts...

Drawdowns

IEMG vs. IAU - Drawdown Comparison

The maximum IEMG drawdown since its inception was -38.71%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IEMG and IAU.


Loading charts...

Drawdown Indicators


IEMGIAUDifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-45.14%

+6.43%

Max Drawdown (1Y)

Largest decline over 1 year

-13.21%

-24.40%

+11.19%

Max Drawdown (3Y)

Largest decline over 3 years

-17.21%

-24.40%

+7.19%

Max Drawdown (5Y)

Largest decline over 5 years

-35.75%

-24.40%

-11.35%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

-24.40%

-14.31%

Current Drawdown

Current decline from peak

-5.44%

-23.87%

+18.43%

Average Drawdown

Average peak-to-trough decline

-12.93%

-15.97%

+3.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.61%

9.07%

-5.46%

Volatility

IEMG vs. IAU - Volatility Comparison

iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 12.22% compared to iShares Gold Trust (IAU) at 8.10%. This indicates that IEMG'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.


Loading charts...

Volatility by Period


IEMGIAUDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.22%

8.10%

+4.12%

Volatility (6M)

Calculated over the trailing 6-month period

20.14%

24.23%

-4.09%

Volatility (1Y)

Calculated over the trailing 1-year period

22.12%

27.38%

-5.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.99%

18.18%

+0.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.20%

15.98%

+4.22%

IEMG vs. IAU - Expense Ratio Comparison

IEMG has a 0.09% 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

IEMG vs. IAU - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.21%, while IAU has not paid dividends to shareholders.


PositionTTM20252024202320222021202020192018201720162015
IAU
iShares Gold Trust
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IEMG
iShares Core MSCI Emerging Markets ETF
2.21%2.75%3.20%2.89%2.71%3.06%1.87%3.15%2.76%2.35%2.28%2.53%

Frequently Asked Questions


IEMG and IAU have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEMG has higher volatility (12.22%) compared to IAU (8.10%). In terms of maximum drawdown, IEMG dropped -38.71% vs IAU's -45.14%.

On 10-year performance, IAU leads with 11.76% vs 10.38% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, IAU has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAU has performed better with a 11.76% return vs 10.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEMG is cheaper with a 0.09% expense ratio, compared with 0.25% for IAU.

IEMG has the higher dividend yield at 2.21%, compared with 0.00% for IAU.

IEMG is categorized as Emerging Markets Diversified, while IAU is Gold. IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while IAU tracks LBMA Gold Price. Their fees differ too: 0.09% for IEMG and 0.25% for IAU.

IEMG currently has the higher Sharpe Ratio (1.98 vs 0.79), 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.

Portfolio Optimizer

Find the right allocation for IEMG and IAU

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer