IGF vs. IAU
IGF (iShares Global Infrastructure ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IGF is a Industrials Equities fund tracking the S&P Global Infrastructure Index (Net), while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IGF returned 8.79%/yr vs 11.76%/yr for IAU. At a 0.21 correlation, their price movements are largely independent. IGF charges 0.39%/yr vs 0.25%/yr for IAU.
Performance
IGF vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IGF achieves a 9.67% return, which is significantly higher than IAU's -4.73% return. Over the past 10 years, IGF has underperformed IAU with an annualized return of 8.79%, while IAU has yielded a comparatively higher 11.76% annualized return.
IGF
- 1D
- -0.03%
- 1M
- -0.16%
- YTD
- 9.67%
- 6M
- 8.98%
- 1Y
- 17.62%
- 3Y*
- 16.78%
- 5Y*
- 10.70%
- 10Y*
- 8.79%
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%
IGF vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGF iShares Global Infrastructure ETF | 9.67% | 21.31% | 14.81% | 6.14% | -1.26% | 11.57% | -6.50% | 25.82% | -9.95% | 19.31% |
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 IGF and IAU is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2007 | 0.21 |
The correlation between IGF and IAU shifts across timeframes, from 0.21 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGF vs. IAU — Risk / Return Rank
IGF
IAU
IGF vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure ETF (IGF) 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.
| IGF | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.17 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 0.88 | +2.13 |
| Martin ratioReturn relative to average drawdown | 8.52 | 2.37 | +6.15 |
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Drawdowns
IGF vs. IAU - Drawdown Comparison
The maximum IGF drawdown since its inception was -58.33%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IGF and IAU.
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Drawdown Indicators
| IGF | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.33% | -45.14% | -13.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.87% | -24.40% | +18.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.28% | -24.40% | +10.12% |
Max Drawdown (5Y)Largest decline over 5 years | -20.83% | -24.40% | +3.57% |
Max Drawdown (10Y)Largest decline over 10 years | -42.11% | -24.40% | -17.71% |
Current DrawdownCurrent decline from peak | -2.99% | -23.87% | +20.88% |
Average DrawdownAverage peak-to-trough decline | -11.84% | -15.97% | +4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 9.07% | -7.00% |
Volatility
IGF vs. IAU - Volatility Comparison
The current volatility for iShares Global Infrastructure ETF (IGF) is 3.35%, while iShares Gold Trust (IAU) has a volatility of 8.10%. This indicates that IGF 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
| IGF | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 8.10% | -4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 8.73% | 24.23% | -15.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 27.38% | -16.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.96% | 18.18% | -4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 15.98% | +0.75% |
IGF vs. IAU - Expense Ratio Comparison
IGF has a 0.39% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
IGF vs. IAU - Dividend Comparison
IGF's dividend yield for the trailing twelve months is around 2.91%, 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% |
IGF iShares Global Infrastructure ETF | 2.91% | 3.23% | 3.21% | 3.36% | 2.67% | 2.42% | 2.33% | 3.27% | 3.52% | 2.95% | 2.98% | 3.25% |
Frequently Asked Questions
IGF and IAU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (8.10%) compared to IGF (3.35%). In terms of maximum drawdown, IGF dropped -58.33% vs IAU's -45.14%.
On 10-year performance, IAU leads with 11.76% vs 8.79% for IGF. On fees, IAU is cheaper at 0.25% per year. On volatility, IGF has been the lower-risk option at 3.35%. 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 8.79%. 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 IGF.
IGF has the higher dividend yield at 2.91%, compared with 0.00% for IAU.
IGF is categorized as Industrials Equities, while IAU is Gold. IGF tracks S&P Global Infrastructure Index (Net), while IAU tracks LBMA Gold Price. Their fees differ too: 0.39% for IGF and 0.25% for IAU.
IGF currently has the higher Sharpe Ratio (1.68 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.
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