ISAC.L vs. IAU

Last updated Jun 9, 2026

ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) and IAU (iShares Gold Trust) are both exchange-traded funds - ISAC.L is a Global Equities fund tracking the MSCI All Country World Index (Net), while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ISAC.L returned 12.55%/yr vs 12.71%/yr for IAU. At a 0.09 correlation, their price movements are largely independent. ISAC.L charges 0.20%/yr vs 0.25%/yr for IAU.

Performance

ISAC.L vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) 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, ISAC.L achieves a 9.28% return, which is significantly higher than IAU's 0.26% return. Both investments have delivered pretty close results over the past 10 years, with ISAC.L having a 12.55% annualized return and IAU not far ahead at 12.71%.

ISAC.L

• 1D: -0.49%
• 1M: 0.23%
• YTD: 9.28%
• 6M: 10.77%
• 1Y: 25.90%
• 3Y*: 20.19%
• 5Y*: 10.90%
• 10Y*: 12.55%

IAU

• 1D: 0.20%
• 1M: -8.43%
• YTD: 0.26%
• 6M: 3.08%
• 1Y: 30.27%
• 3Y*: 29.88%
• 5Y*: 17.71%
• 10Y*: 12.71%

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

ISAC.L vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc)	9.28%	22.36%	17.81%	22.57%	-18.16%	18.85%	15.66%	25.75%	-9.73%	24.40%
IAU iShares Gold Trust	0.26%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between ISAC.L and IAU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 21, 2011	0.09

The correlation between ISAC.L and IAU shifts across timeframes, from 0.09 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

ISAC.L vs. IAU - Sectors Allocation Comparison

Sectors	ISAC.L	IAU
Technology	33.9%	-
Financial Services	17.3%	-
Industrials	9.0%	-
Communication Services	8.6%	-
Consumer Cyclical	8.5%	-
Healthcare	7.8%	-
Consumer Defensive	4.4%	-
Energy	3.6%	-
Basic Materials	2.9%	-
Utilities	2.2%	-
Real Estate	1.2%	100.0%

Return for Risk

ISAC.L vs. IAU — Risk / Return Rank

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

ISAC.L

ISAC.L Risk / Return Rank: 71
ISAC.L Sharpe Ratio Rank: 70
ISAC.L Sortino Ratio Rank: 76
ISAC.L Omega Ratio Rank: 70
ISAC.L Calmar Ratio Rank: 65
ISAC.L Martin Ratio Rank: 72

IAU

IAU Risk / Return Rank: 33
IAU Sharpe Ratio Rank: 35
IAU Sortino Ratio Rank: 31
IAU Omega Ratio Rank: 38
IAU Calmar Ratio Rank: 34
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.

ISAC.L vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.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.

	ISAC.L	IAU	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.14	+0.92
Sortino ratio: Return per unit of downside risk	3.06	1.52	+1.53
Omega ratio: Gain probability vs. loss probability	1.38	1.23	+0.15
Calmar ratio: Return relative to maximum drawdown	2.94	1.52	+1.42
Martin ratio: Return relative to average drawdown	12.26	3.80	+8.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISAC.L vs. IAU - Sharpe Ratio Comparison

The current ISAC.L Sharpe Ratio is 2.06, which is higher than the IAU Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of ISAC.L 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

	ISAC.L	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.14	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.99	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.80	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.61	+0.10

Drawdowns

ISAC.L vs. IAU - Drawdown Comparison

The maximum ISAC.L drawdown since its inception was -33.82%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ISAC.L and IAU.

Drawdown Indicators

	ISAC.L	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-45.14%	+11.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-20.04%	+11.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-20.04%	+3.48%
Max Drawdown (5Y) Largest decline over 5 years	-26.07%	-20.93%	-5.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	-21.82%	-12.00%
Current Drawdown Current decline from peak	-2.73%	-19.88%	+17.15%
Average Drawdown Average peak-to-trough decline	-4.64%	-15.97%	+11.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	7.99%	-5.88%

Volatility

ISAC.L vs. IAU - Volatility Comparison

The current volatility for iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) is 3.92%, while iShares Gold Trust (IAU) has a volatility of 5.64%. This indicates that ISAC.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.

Volatility by Period

	ISAC.L	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	5.64%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	23.33%	-13.41%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	26.68%	-14.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	18.02%	-2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	15.94%	+0.02%

ISAC.L vs. IAU - Expense Ratio Comparison

ISAC.L has a 0.20% 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

ISAC.L vs. IAU - Dividend Comparison

Neither ISAC.L nor IAU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ISAC.L and IAU in my portfolio?

ISAC.L and IAU have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISAC.L or IAU?

On fees, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISAC.L or IAU?

ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

What is the main difference between ISAC.L and IAU?

ISAC.L is categorized as Global Equities, while IAU is Gold. ISAC.L tracks MSCI All Country World Index (Net), while IAU tracks LBMA Gold Price. Their fees differ too: 0.20% for ISAC.L and 0.25% for IAU.