IMIB.L vs. IAU
IMIB.L (iShares FTSE MIB UCITS ETF EUR (Dist)) and IAU (iShares Gold Trust) are both exchange-traded funds - IMIB.L is a Europe Equities fund tracking the FTSE Italia AllShare TR EUR, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IMIB.L returned 17.18%/yr vs 12.17%/yr for IAU. At a 0.02 correlation, their price movements are largely independent. IMIB.L charges 0.35%/yr vs 0.25%/yr for IAU.
Performance
IMIB.L vs. IAU - Performance Comparison
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Different Trading Currencies
IMIB.L is traded in GBp, while IAU is traded in USD. To make them comparable, the IAU values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IMIB.L achieves a 16.78% return, which is significantly higher than IAU's -2.70% return. Over the past 10 years, IMIB.L has outperformed IAU with an annualized return of 17.18%, while IAU has yielded a comparatively lower 12.17% annualized return.
IMIB.L
- 1D
- -0.73%
- 1M
- 4.20%
- YTD
- 16.78%
- 6M
- 17.43%
- 1Y
- 37.72%
- 3Y*
- 29.79%
- 5Y*
- 20.47%
- 10Y*
- 17.18%
IAU
- 1D
- 0.00%
- 1M
- -7.16%
- YTD
- -2.70%
- 6M
- -6.13%
- 1Y
- 27.24%
- 3Y*
- 27.05%
- 5Y*
- 19.15%
- 10Y*
- 12.17%
IMIB.L vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMIB.L iShares FTSE MIB UCITS ETF EUR (Dist) | 16.78% | 43.78% | 13.17% | 30.55% | -3.59% | 18.30% | 1.46% | 24.85% | -12.68% | 20.95% |
IAU iShares Gold Trust | -5.54% | 52.27% | 29.07% | 7.20% | 11.18% | -3.09% | 21.36% | 13.49% | 4.07% | 3.14% |
Correlation
The correlation between IMIB.L and IAU is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2007 | 0.02 |
Over the past year, IMIB.L and IAU have become more correlated (0.22) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
IMIB.L vs. IAU — Risk / Return Rank
IMIB.L
IAU
IMIB.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.L) 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.
| IMIB.L | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.22 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 1.17 | +2.48 |
| Martin ratioReturn relative to average drawdown | 13.36 | 3.22 | +10.14 |
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Drawdowns
IMIB.L vs. IAU - Drawdown Comparison
The maximum IMIB.L drawdown since its inception was -70.29%, which is greater than IAU's maximum drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for IMIB.L and IAU.
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Drawdown Indicators
| IMIB.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.29% | -41.56% | -28.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.28% | -23.32% | +13.04% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | -23.32% | +7.74% |
Max Drawdown (5Y)Largest decline over 5 years | -24.06% | -23.32% | -0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -36.68% | -23.32% | -13.36% |
Current DrawdownCurrent decline from peak | -2.87% | -21.72% | +18.85% |
Average DrawdownAverage peak-to-trough decline | -32.97% | -13.07% | -19.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 8.49% | -5.67% |
Volatility
IMIB.L vs. IAU - Volatility Comparison
The current volatility for iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.L) is 4.08%, while iShares Gold Trust (IAU) has a volatility of 7.70%. This indicates that IMIB.L 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
| IMIB.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 7.70% | -3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 22.72% | -10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 25.98% | -10.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.94% | 16.91% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.35% | 15.54% | +3.81% |
IMIB.L vs. IAU - Expense Ratio Comparison
IMIB.L has a 0.35% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
IMIB.L vs. IAU - Dividend Comparison
IMIB.L's dividend yield for the trailing twelve months is around 3.75%, 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% |
IMIB.L iShares FTSE MIB UCITS ETF EUR (Dist) | 3.75% | 3.83% | 4.53% | 3.77% | 3.90% | 3.15% | 1.44% | 3.41% | 3.25% | 2.29% | 2.82% | 2.15% |
Frequently Asked Questions
IMIB.L and IAU have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.35% for IMIB.L.
IMIB.L is categorized as Europe Equities, while IAU is Gold. IMIB.L tracks FTSE Italia AllShare TR EUR, while IAU tracks LBMA Gold Price. Their fees differ too: 0.35% for IMIB.L and 0.25% for IAU.
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