IS3V.DE vs. AAAU
IS3V.DE (iShares Global Inflation Linked Government Bond UCITS ETF (EUR Hedged) Acc) and AAAU (Goldman Sachs Physical Gold ETF) are both exchange-traded funds - IS3V.DE is a Inflation-Protected Bonds fund tracking the Bloomberg World Government Inflation-Linked Bond (EUR Hedged), while AAAU is a Gold fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, IS3V.DE returned -2.66%/yr vs 19.70%/yr for AAAU. At a 0.19 correlation, their price movements are largely independent. IS3V.DE charges 0.20%/yr vs 0.18%/yr for AAAU.
Performance
IS3V.DE vs. AAAU - Performance Comparison
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Different Trading Currencies
IS3V.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, IS3V.DE achieves a 0.90% return, which is significantly lower than AAAU's 5.01% return.
IS3V.DE
- 1D
- 0.02%
- 1M
- -0.09%
- YTD
- 0.90%
- 6M
- 0.47%
- 1Y
- 2.38%
- 3Y*
- 0.94%
- 5Y*
- -2.66%
- 10Y*
- —
AAAU
- 1D
- 0.00%
- 1M
- -3.44%
- YTD
- 5.01%
- 6M
- 6.77%
- 1Y
- 31.32%
- 3Y*
- 27.85%
- 5Y*
- 19.70%
- 10Y*
- —
IS3V.DE vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS3V.DE iShares Global Inflation Linked Government Bond UCITS ETF (EUR Hedged) Acc | 0.90% | 2.39% | -2.15% | 1.88% | -19.26% | 4.95% | 4.83% |
AAAU Goldman Sachs Physical Gold ETF | 2.01% | 44.59% | 35.29% | 9.58% | 5.67% | 3.17% | -1.55% |
Correlation
The correlation between IS3V.DE and AAAU is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2020 | 0.19 |
The correlation between IS3V.DE and AAAU shifts across timeframes, from 0.08 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IS3V.DE vs. AAAU — Risk / Return Rank
IS3V.DE
AAAU
IS3V.DE vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Inflation Linked Government Bond UCITS ETF (EUR Hedged) Acc (IS3V.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.
| IS3V.DE | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.26 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 1.84 | -1.13 |
| Martin ratioReturn relative to average drawdown | 1.83 | 4.36 | -2.53 |
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
| IS3V.DE | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 1.26 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 1.19 | -1.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 1.15 | -1.35 |
Drawdowns
IS3V.DE vs. AAAU - Drawdown Comparison
The maximum IS3V.DE drawdown since its inception was -24.54%, which is greater than AAAU's maximum drawdown of -18.54%. Use the drawdown chart below to compare losses from any high point for IS3V.DE and AAAU.
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Drawdown Indicators
| IS3V.DE | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.54% | -18.54% | -6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -17.11% | +13.97% |
Max Drawdown (3Y)Largest decline over 3 years | -5.80% | -17.11% | +11.31% |
Max Drawdown (5Y)Largest decline over 5 years | -24.54% | -17.11% | -7.43% |
Current DrawdownCurrent decline from peak | -18.28% | -15.47% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -5.27% | -8.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 7.21% | -5.99% |
Volatility
IS3V.DE vs. AAAU - Volatility Comparison
The current volatility for iShares Global Inflation Linked Government Bond UCITS ETF (EUR Hedged) Acc (IS3V.DE) is 1.65%, while Goldman Sachs Physical Gold ETF (AAAU) has a volatility of 3.74%. This indicates that IS3V.DE experiences smaller price fluctuations and is considered to be less risky 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
| IS3V.DE | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 3.74% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 21.58% | -17.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 24.92% | -19.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.81% | 16.56% | -8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.38% | 15.81% | -8.43% |
IS3V.DE vs. AAAU - Expense Ratio Comparison
IS3V.DE has a 0.20% 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
IS3V.DE vs. AAAU - Dividend Comparison
Neither IS3V.DE nor AAAU has paid dividends to shareholders.
Frequently Asked Questions
IS3V.DE and AAAU have a correlation of 0.08, 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 0.20% for IS3V.DE.
IS3V.DE is categorized as Inflation-Protected Bonds, while AAAU is Gold. IS3V.DE tracks Bloomberg World Government Inflation-Linked Bond (EUR Hedged), while AAAU tracks LBMA Gold PM Price. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.20% for IS3V.DE and 0.18% for AAAU.
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