ILCB vs. IAU

Last updated Jun 4, 2026

ILCB (iShares Morningstar U.S. Equity ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ILCB is a Large Cap Growth Equities fund tracking the Morningstar US Large-Mid Cap Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ILCB returned 15.00%/yr vs 13.31%/yr for IAU. At a 0.04 correlation, their price movements are largely independent. ILCB charges 0.03%/yr vs 0.25%/yr for IAU.

Performance

ILCB vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar U.S. Equity ETF (ILCB) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILCB achieves a 11.12% return, which is significantly higher than IAU's 2.98% return. Over the past 10 years, ILCB has outperformed IAU with an annualized return of 15.00%, while IAU has yielded a comparatively lower 13.31% annualized return.

ILCB

• 1D: -0.67%
• 1M: 5.29%
• YTD: 11.12%
• 6M: 11.10%
• 1Y: 28.03%
• 3Y*: 22.69%
• 5Y*: 13.45%
• 10Y*: 15.00%

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

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

ILCB vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILCB iShares Morningstar U.S. Equity ETF	11.12%	17.70%	24.96%	26.91%	-19.48%	24.07%	19.40%	32.68%	-8.51%	22.09%
IAU iShares Gold Trust	2.98%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between ILCB and IAU is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 31, 2005	0.04

The correlation between ILCB and IAU shifts across timeframes, from 0.04 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

ILCB vs. IAU - Sectors Allocation Comparison

Sectors	ILCB	IAU
Technology	35.5%	-
Financial Services	11.7%	-
Communication Services	11.4%	-
Consumer Cyclical	10.1%	-
Industrials	8.6%	-
Healthcare	8.6%	-
Consumer Defensive	4.8%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.8%	100.0%
Basic Materials	1.8%	-

Return for Risk

ILCB vs. IAU — Risk / Return Rank

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

ILCB

ILCB Risk / Return Rank: 69
ILCB Sharpe Ratio Rank: 70
ILCB Sortino Ratio Rank: 69
ILCB Omega Ratio Rank: 70
ILCB Calmar Ratio Rank: 62
ILCB Martin Ratio Rank: 75

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

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.

ILCB vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) 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.

	ILCB	IAU	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.23	+1.12
Sortino ratio: Return per unit of downside risk	3.20	1.62	+1.58
Omega ratio: Gain probability vs. loss probability	1.42	1.24	+0.18
Calmar ratio: Return relative to maximum drawdown	3.10	1.69	+1.41
Martin ratio: Return relative to average drawdown	14.24	4.19	+10.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ILCB vs. IAU - Sharpe Ratio Comparison

The current ILCB Sharpe Ratio is 2.35, which is higher than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of ILCB 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.

Sharpe Ratios by Period

	ILCB	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.23	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	1.03	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.84	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.62	+0.01

Drawdowns

ILCB vs. IAU - Drawdown Comparison

The maximum ILCB drawdown since its inception was -51.53%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ILCB and IAU.

Drawdown Indicators

	ILCB	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-51.53%	-45.14%	-6.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-19.18%	+10.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-19.18%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.47%	-20.93%	-4.54%
Max Drawdown (10Y) Largest decline over 10 years	-35.30%	-21.82%	-13.48%
Current Drawdown Current decline from peak	-0.67%	-17.70%	+17.03%
Average Drawdown Average peak-to-trough decline	-6.24%	-15.96%	+9.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	7.71%	-5.74%

Volatility

ILCB vs. IAU - Volatility Comparison

The current volatility for iShares Morningstar U.S. Equity ETF (ILCB) is 2.88%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that ILCB 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

	ILCB	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	5.50%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	9.10%	23.02%	-13.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	26.42%	-14.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	17.95%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	15.90%	+2.26%

ILCB vs. IAU - Expense Ratio Comparison

ILCB has a 0.03% 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

ILCB vs. IAU - Dividend Comparison

ILCB's dividend yield for the trailing twelve months is around 0.97%, 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%
ILCB iShares Morningstar U.S. Equity ETF	0.97%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%

Frequently Asked Questions

Can I hold both ILCB and IAU in my portfolio?

ILCB and IAU have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILCB or IAU?

IAU has higher volatility (5.50%) compared to ILCB (2.88%). In terms of maximum drawdown, ILCB dropped -51.53% vs IAU's -45.14%.

Which ETF is better, ILCB or IAU?

On 10-year performance, ILCB leads with 15.00% vs 13.31% for IAU. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILCB or IAU?

Over the 10-year period, ILCB has performed better with a 15.00% return vs 13.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILCB or IAU?

ILCB is cheaper with a 0.03% expense ratio, compared with 0.25% for IAU.

Which ETF pays a higher dividend yield, ILCB or IAU?

ILCB has the higher dividend yield at 0.97%, compared with 0.00% for IAU.

What is the main difference between ILCB and IAU?

ILCB is categorized as Large Cap Growth Equities, while IAU is Gold. ILCB tracks Morningstar US Large-Mid Cap Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.03% for ILCB and 0.25% for IAU.

Which has better risk-adjusted returns?

ILCB currently has the higher Sharpe Ratio (2.35 vs 1.23), 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.