IGE vs. IAU
IGE (iShares North American Natural Resources ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IGE is a Energy Equities fund tracking the S&P North American Natural Resources Sector Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IGE returned 8.90%/yr vs 11.42%/yr for IAU. At a 0.27 correlation, their price movements are largely independent. IGE charges 0.39%/yr vs 0.25%/yr for IAU.
Performance
IGE vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IGE achieves a 13.49% return, which is significantly higher than IAU's -7.61% return. Over the past 10 years, IGE has underperformed IAU with an annualized return of 8.90%, while IAU has yielded a comparatively higher 11.42% annualized return.
IGE
- 1D
- -1.77%
- 1M
- -7.90%
- YTD
- 13.49%
- 6M
- 12.84%
- 1Y
- 30.59%
- 3Y*
- 17.84%
- 5Y*
- 15.86%
- 10Y*
- 8.90%
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%
IGE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 13.49% | 20.41% | 7.55% | 3.12% | 33.24% | 39.42% | -19.58% | 17.16% | -21.59% | 0.82% |
IAU iShares Gold Trust | -7.61% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between IGE and IAU is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2005 | 0.27 |
The correlation between IGE and IAU shifts across timeframes, from 0.21 (10 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGE vs. IAU — Risk / Return Rank
IGE
IAU
IGE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares North American Natural Resources ETF (IGE) 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.
| IGE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.15 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 0.75 | +2.21 |
| Martin ratioReturn relative to average drawdown | 11.11 | 2.14 | +8.98 |
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Drawdowns
IGE vs. IAU - Drawdown Comparison
The maximum IGE drawdown since its inception was -67.55%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IGE and IAU.
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Drawdown Indicators
| IGE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.55% | -45.14% | -22.41% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -26.17% | +15.82% |
Max Drawdown (3Y)Largest decline over 3 years | -19.49% | -26.17% | +6.68% |
Max Drawdown (5Y)Largest decline over 5 years | -25.72% | -26.17% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -60.57% | -26.17% | -34.40% |
Current DrawdownCurrent decline from peak | -10.35% | -26.17% | +15.82% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -15.98% | -2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 9.21% | -6.45% |
Volatility
IGE vs. IAU - Volatility Comparison
The current volatility for iShares North American Natural Resources ETF (IGE) is 5.49%, while iShares Gold Trust (IAU) has a volatility of 8.50%. This indicates that IGE 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
| IGE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 8.50% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.10% | 24.42% | -11.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.56% | 27.55% | -10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.42% | 18.24% | +4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.93% | 16.01% | +8.92% |
IGE vs. IAU - Expense Ratio Comparison
IGE has a 0.39% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
IGE vs. IAU - Dividend Comparison
IGE's dividend yield for the trailing twelve months is around 2.10%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IGE iShares North American Natural Resources ETF | 2.10% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
Frequently Asked Questions
IGE and IAU have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (8.50%) compared to IGE (5.49%). In terms of maximum drawdown, IGE dropped -67.55% vs IAU's -45.14%.
On 10-year performance, IAU leads with 11.42% vs 8.90% for IGE. On fees, IAU is cheaper at 0.25% per year. On volatility, IGE has been the lower-risk option at 5.49%. 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 11.42% return vs 8.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU is cheaper with a 0.25% expense ratio, compared with 0.39% for IGE.
IGE has the higher dividend yield at 2.10%, compared with 0.00% for IAU.
IGE is categorized as Energy Equities, while IAU is Gold. IGE tracks S&P North American Natural Resources Sector Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.39% for IGE and 0.25% for IAU.
IGE currently has the higher Sharpe Ratio (1.86 vs 0.72), 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.
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