IEUR vs. IAU

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core MSCI Europe ETF (IEUR) and iShares Gold Trust (IAU).

IEUR and IAU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEUR is a passively managed fund by iShares that tracks the performance of the MSCI Europe Investable Market Index. It was launched on Jun 10, 2014. 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 IEUR 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

IEUR vs. IAU - Performance Comparison

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

IEUR vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEUR iShares Core MSCI Europe ETF	0.51%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	26.70%
IAU iShares Gold Trust	10.48%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Returns By Period

In the year-to-date period, IEUR achieves a 0.51% return, which is significantly lower than IAU's 10.48% return. Over the past 10 years, IEUR has underperformed IAU with an annualized return of 9.04%, while IAU has yielded a comparatively higher 14.27% annualized return.

IEUR

• 1D: 1.52%
• 1M: -4.73%
• YTD: 0.51%
• 6M: 4.68%
• 1Y: 22.17%
• 3Y*: 14.50%
• 5Y*: 8.72%
• 10Y*: 9.04%

IAU

• 1D: 1.72%
• 1M: -10.66%
• YTD: 10.48%
• 6M: 23.05%
• 1Y: 52.36%
• 3Y*: 33.88%
• 5Y*: 22.19%
• 10Y*: 14.27%

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

IEUR vs. IAU - Expense Ratio Comparison

IEUR 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%.

IAU

iShares Gold Trust

IEUR

iShares Core MSCI Europe ETF

Return for Risk

IEUR vs. IAU — Risk / Return Rank

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

IEUR

IEUR Risk / Return Rank: 69
IEUR Sharpe Ratio Rank: 69
IEUR Sortino Ratio Rank: 70
IEUR Omega Ratio Rank: 68
IEUR Calmar Ratio Rank: 70
IEUR Martin Ratio Rank: 68

IAU

IAU Risk / Return Rank: 86
IAU Sharpe Ratio Rank: 88
IAU Sortino Ratio Rank: 85
IAU Omega Ratio Rank: 85
IAU Calmar Ratio Rank: 86
IAU Martin Ratio Rank: 84

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.

IEUR vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe ETF (IEUR) 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.

	IEUR	IAU	Difference
Sharpe ratio Return per unit of total volatility	1.25	1.90	-0.65
Sortino ratio Return per unit of downside risk	1.80	2.33	-0.53
Omega ratio Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio Return relative to maximum drawdown	1.86	2.72	-0.86
Martin ratio Return relative to average drawdown	7.15	9.95	-2.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEUR vs. IAU - Sharpe Ratio Comparison

The current IEUR Sharpe Ratio is 1.25, which is lower than the IAU Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of IEUR 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

	IEUR	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.90	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	1.26	-0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.90	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.65	-0.32

Correlation

The correlation between IEUR and IAU is 0.16, 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

IEUR vs. IAU - Dividend Comparison

IEUR's dividend yield for the trailing twelve months is around 2.96%, while IAU has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEUR iShares Core MSCI Europe ETF	2.96%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%
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%

Drawdowns

IEUR vs. IAU - Drawdown Comparison

The maximum IEUR drawdown since its inception was -36.96%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IEUR and IAU.

Drawdown Indicators

	IEUR	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-36.96%	-45.14%	+8.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-19.18%	+7.14%
Max Drawdown (5Y) Largest decline over 5 years	-32.75%	-20.93%	-11.82%
Max Drawdown (10Y) Largest decline over 10 years	-36.96%	-21.82%	-15.14%
Current Drawdown Current decline from peak	-7.05%	-11.71%	+4.66%
Average Drawdown Average peak-to-trough decline	-8.30%	-15.98%	+7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	5.23%	-2.10%

Volatility

IEUR vs. IAU - Volatility Comparison

The current volatility for iShares Core MSCI Europe ETF (IEUR) is 7.36%, while iShares Gold Trust (IAU) has a volatility of 10.44%. This indicates that IEUR 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.

Volatility by Period

	IEUR	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	10.44%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	24.15%	-13.12%
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	27.64%	-9.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.54%	17.70%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.60%	15.83%	+2.77%