IGLD.DE vs. AAAU
IGLD.DE (iShares Physical Gold (EUR Hedged) ETC) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - IGLD.DE is a Precious Metals fund tracking the Gold (EUR Hedged), while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 3 years, IGLD.DE returned 28.49%/yr vs 27.98%/yr for AAAU. A 0.70 correlation means they provide meaningful diversification when combined. IGLD.DE charges 0.25%/yr vs 0.18%/yr for AAAU.
Performance
IGLD.DE vs. AAAU - Performance Comparison
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Different Trading Currencies
IGLD.DE is traded in EUR, while AAAU is traded in USD. To make them comparable, the AAAU values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLD.DE achieves a 0.35% return, which is significantly lower than AAAU's 5.01% return.
IGLD.DE
- 1D
- 0.70%
- 1M
- -2.47%
- YTD
- 0.35%
- 6M
- 4.61%
- 1Y
- 28.86%
- 3Y*
- 28.49%
- 5Y*
- —
- 10Y*
- —
AAAU
- 1D
- 0.73%
- 1M
- -0.97%
- YTD
- 5.01%
- 6M
- 6.63%
- 1Y
- 30.33%
- 3Y*
- 27.98%
- 5Y*
- 19.70%
- 10Y*
- —
IGLD.DE vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IGLD.DE iShares Physical Gold (EUR Hedged) ETC | 0.35% | 63.04% | 24.54% | 10.49% | 2.47% |
AAAU Goldman Sachs Physical Gold ETF | 5.01% | 44.59% | 35.29% | 9.58% | -0.68% |
Correlation
The correlation between IGLD.DE and AAAU is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2022 | 0.70 |
The correlation between IGLD.DE and AAAU has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
IGLD.DE vs. AAAU — Risk / Return Rank
IGLD.DE
AAAU
IGLD.DE vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| IGLD.DE | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.78 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.10 | 4.26 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGLD.DE | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.22 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.32 | 1.15 | +0.17 |
Drawdowns
IGLD.DE vs. AAAU - Drawdown Comparison
The maximum IGLD.DE drawdown since its inception was -17.62%, roughly equal to the maximum AAAU drawdown of -18.54%. Use the drawdown chart below to compare losses from any high point for IGLD.DE and AAAU.
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Drawdown Indicators
| IGLD.DE | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.62% | -18.54% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -17.62% | -17.11% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | -17.11% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.11% | — |
Current DrawdownCurrent decline from peak | -16.24% | -15.47% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -5.27% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.03% | 7.14% | -0.11% |
Volatility
IGLD.DE vs. AAAU - Volatility Comparison
iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) has a higher volatility of 5.98% compared to Goldman Sachs Physical Gold ETF (AAAU) at 4.61%. This indicates that IGLD.DE's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLD.DE | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 4.61% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 21.79% | 21.58% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 24.92% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.86% | 16.57% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 15.81% | +2.05% |
IGLD.DE vs. AAAU - Expense Ratio Comparison
IGLD.DE has a 0.25% expense ratio, which is higher than AAAU's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGLD.DE vs. AAAU - Dividend Comparison
Neither IGLD.DE nor AAAU has paid dividends to shareholders.
Frequently Asked Questions
IGLD.DE and AAAU have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AAAU is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AAAU is cheaper with a 0.18% expense ratio, compared with 0.25% for IGLD.DE.
IGLD.DE is categorized as Precious Metals, while AAAU is Gold. IGLD.DE tracks Gold (EUR Hedged), while AAAU tracks LBMA Gold PM Price. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.25% for IGLD.DE and 0.18% for AAAU.
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