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IQQN.DE vs. GC=F
Performance
Return for Risk
Drawdowns
Volatility

IQQN.DE vs. GC=F

Last updated Jun 5, 2026

IQQN.DE (iShares MSCI North America UCITS ETF) is Large Cap Blend Equities fund tracking the MSCI North America, while GC=F (Gold Futures) is an asset. Over the past 10 years, IQQN.DE returned 14.38%/yr vs 13.47%/yr for GC=F. At a 0.04 correlation, their price movements are largely independent.

Performance

IQQN.DE vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI North America UCITS ETF (IQQN.DE) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IQQN.DE is traded in EUR, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IQQN.DE achieves a 11.09% return, which is significantly higher than GC=F's 5.29% return. Over the past 10 years, IQQN.DE has outperformed GC=F with an annualized return of 14.38%, while GC=F has yielded a comparatively lower 13.47% annualized return.

IQQN.DE

1D
-0.05%
1M
4.42%
YTD
11.09%
6M
10.54%
1Y
24.97%
3Y*
18.64%
5Y*
13.97%
10Y*
14.38%

GC=F

1D
1.35%
1M
-2.72%
YTD
5.29%
6M
7.13%
1Y
32.42%
3Y*
28.49%
5Y*
20.07%
10Y*
13.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IQQN.DE vs. GC=F - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IQQN.DE
iShares MSCI North America UCITS ETF		11.09%4.95%31.43%22.31%-15.50%38.10%8.53%34.21%-2.31%6.17%
GC=F
Gold Futures		5.29%45.00%35.90%9.94%5.74%3.76%14.32%21.55%2.45%-0.37%

Correlation

The correlation between IQQN.DE and GC=F is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Aug 29, 2007

0.04

The correlation between IQQN.DE and GC=F shifts across timeframes, from 0.01 (10 years) to 0.12 (3 years), reflecting how their relationship changes across market environments.

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Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI North America UCITS ETF

Gold Futures

Often compared with IQQN.DE:
IQQN.DE vs. JREU.DEIQQN.DE vs. IBCY.DEIQQN.DE vs. CSY2.DEIQQN.DE vs. FLXU.DEIQQN.DE vs. 36B6.DEIQQN.DE vs. 5HED.DEIQQN.DE vs. FUSR.DE
Often compared with GC=F:
GC=F vs. XAUUSD=XGC=F vs. GOLDGC=F vs. ^GSPCGC=F vs. SI=FGC=F vs. HG=FGC=F vs. UUPGC=F vs. BZ=F

Return for Risk

IQQN.DE vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IQQN.DE
IQQN.DE Risk / Return Rank: 6868
Overall Rank
IQQN.DE Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IQQN.DE Sortino Ratio Rank: 6565
Sortino Ratio Rank
IQQN.DE Omega Ratio Rank: 6868
Omega Ratio Rank
IQQN.DE Calmar Ratio Rank: 7171
Calmar Ratio Rank
IQQN.DE Martin Ratio Rank: 6868
Martin Ratio Rank
GC=F
GC=F Risk / Return Rank: 5454
Overall Rank
GC=F Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
GC=F Sortino Ratio Rank: 5252
Sortino Ratio Rank
GC=F Omega Ratio Rank: 5454
Omega Ratio Rank
GC=F Calmar Ratio Rank: 4545
Calmar Ratio Rank
GC=F Martin Ratio Rank: 6464
Martin Ratio Rank
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.

IQQN.DE vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI North America UCITS ETF (IQQN.DE) and Gold Futures (GC=F). 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.

IQQN.DEGC=FDifference
Sharpe ratioReturn per unit of total volatility
2.16
1.18

+0.98

Sortino ratioReturn per unit of downside risk
2.95
1.58

+1.37

Omega ratioGain probability vs. loss probability

1.40

1.25

+0.16

Calmar ratioReturn relative to maximum drawdown

3.46

1.85

+1.61

Martin ratioReturn relative to average drawdown

12.25

4.52

+7.73

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQQN.DE vs. GC=F - Sharpe Ratio Comparison

The current IQQN.DE Sharpe Ratio is 2.16, which is higher than the GC=F Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of IQQN.DE and GC=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IQQN.DEGC=FDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.16

1.18

+0.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.91

1.15

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.89

0.85

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.64

-0.05

Drawdowns

IQQN.DE vs. GC=F - Drawdown Comparison

The maximum IQQN.DE drawdown since its inception was -52.40%, which is greater than GC=F's maximum drawdown of -36.91%. Use the drawdown chart below to compare losses from any high point for IQQN.DE and GC=F.

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Drawdown Indicators

IQQN.DEGC=FDifference

Max Drawdown

Largest peak-to-trough decline

-52.40%

-36.91%

-15.49%

Max Drawdown (1Y)

Largest decline over 1 year

-7.22%

-16.35%

+9.13%

Max Drawdown (3Y)

Largest decline over 3 years

-23.46%

-16.35%

-7.11%

Max Drawdown (5Y)

Largest decline over 5 years

-23.46%

-16.35%

-7.11%

Max Drawdown (10Y)

Largest decline over 10 years

-34.38%

-18.00%

-16.38%

Current Drawdown

Current decline from peak

-0.35%

-14.39%

+14.04%

Average Drawdown

Average peak-to-trough decline

-9.11%

-11.41%

+2.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

6.74%

-4.69%

Volatility

IQQN.DE vs. GC=F - Volatility Comparison

The current volatility for iShares MSCI North America UCITS ETF (IQQN.DE) is 2.66%, while Gold Futures (GC=F) has a volatility of 4.15%. This indicates that IQQN.DE experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IQQN.DEGC=FDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.66%

4.15%

-1.49%

Volatility (6M)

Calculated over the trailing 6-month period

7.55%

22.34%

-14.79%

Volatility (1Y)

Calculated over the trailing 1-year period

11.56%

25.64%

-14.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.24%

17.41%

-2.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.09%

15.87%

+0.22%

Frequently Asked Questions

IQQN.DE and GC=F have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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