ISCG vs. IAU

Last updated Jun 4, 2026

ISCG (iShares Morningstar Small-Cap Growth ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ISCG is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Broad Growth Extended Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ISCG returned 11.37%/yr vs 13.31%/yr for IAU. At a 0.08 correlation, their price movements are largely independent. ISCG charges 0.06%/yr vs 0.25%/yr for IAU.

Performance

ISCG vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Morningstar Small-Cap Growth ETF (ISCG) 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, ISCG achieves a 12.92% return, which is significantly higher than IAU's 2.98% return. Over the past 10 years, ISCG has underperformed IAU with an annualized return of 11.37%, while IAU has yielded a comparatively higher 13.31% annualized return.

ISCG

• 1D: -0.93%
• 1M: 3.29%
• YTD: 12.92%
• 6M: 12.57%
• 1Y: 30.64%
• 3Y*: 17.01%
• 5Y*: 5.31%
• 10Y*: 11.37%

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)

ISCG vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCG iShares Morningstar Small-Cap Growth ETF	12.92%	12.88%	13.35%	23.13%	-26.75%	-1.26%	43.41%	27.66%	-6.91%	24.68%
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 ISCG and IAU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jan 31, 2005	0.08

The correlation between ISCG and IAU shifts across timeframes, from 0.07 (10 years) to 0.20 (1 year), reflecting how their relationship changes across market environments.

ISCG vs. IAU - Sectors Allocation Comparison

Sectors	ISCG	IAU
Industrials	24.6%	-
Technology	21.4%	-
Healthcare	15.4%	-
Financial Services	10.6%	-
Consumer Cyclical	9.9%	-
Real Estate	5.2%	100.0%
Basic Materials	3.5%	-
Consumer Defensive	2.9%	-
Communication Services	2.8%	-
Energy	2.8%	-
Utilities	1.0%	-

Return for Risk

ISCG vs. IAU — Risk / Return Rank

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

ISCG

ISCG Risk / Return Rank: 50
ISCG Sharpe Ratio Rank: 48
ISCG Sortino Ratio Rank: 48
ISCG Omega Ratio Rank: 44
ISCG Calmar Ratio Rank: 53
ISCG Martin Ratio Rank: 58

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.

ISCG vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Small-Cap Growth ETF (ISCG) 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.

	ISCG	IAU	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.23	+0.48
Sortino ratio: Return per unit of downside risk	2.40	1.62	+0.78
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.04
Calmar ratio: Return relative to maximum drawdown	2.69	1.69	+1.01
Martin ratio: Return relative to average drawdown	10.31	4.19	+6.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCG vs. IAU - Sharpe Ratio Comparison

The current ISCG Sharpe Ratio is 1.70, which is higher than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of ISCG 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

	ISCG	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.23	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	1.03	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.84	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.62	-0.21

Drawdowns

ISCG vs. IAU - Drawdown Comparison

The maximum ISCG drawdown since its inception was -57.72%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ISCG and IAU.

Drawdown Indicators

	ISCG	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-57.72%	-45.14%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-19.18%	+7.75%
Max Drawdown (3Y) Largest decline over 3 years	-26.71%	-19.18%	-7.53%
Max Drawdown (5Y) Largest decline over 5 years	-37.80%	-20.93%	-16.87%
Max Drawdown (10Y) Largest decline over 10 years	-41.48%	-21.82%	-19.66%
Current Drawdown Current decline from peak	-0.93%	-17.70%	+16.77%
Average Drawdown Average peak-to-trough decline	-11.63%	-15.96%	+4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	7.71%	-4.73%

Volatility

ISCG vs. IAU - Volatility Comparison

The current volatility for iShares Morningstar Small-Cap Growth ETF (ISCG) is 4.93%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that ISCG 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

	ISCG	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	5.50%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	23.02%	-9.93%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	26.42%	-8.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.95%	17.95%	+5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.16%	15.90%	+7.26%

ISCG vs. IAU - Expense Ratio Comparison

ISCG has a 0.06% 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

ISCG vs. IAU - Dividend Comparison

ISCG's dividend yield for the trailing twelve months is around 0.56%, 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%
ISCG iShares Morningstar Small-Cap Growth ETF	0.56%	0.61%	0.84%	0.77%	0.92%	0.62%	0.10%	0.27%	0.40%	0.52%	1.19%	0.64%

Frequently Asked Questions

Can I hold both ISCG and IAU in my portfolio?

ISCG and IAU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISCG or IAU?

IAU has higher volatility (5.50%) compared to ISCG (4.93%). In terms of maximum drawdown, ISCG dropped -57.72% vs IAU's -45.14%.

Which ETF is better, ISCG or IAU?

On 10-year performance, IAU leads with 13.31% vs 11.37% for ISCG. On fees, ISCG is cheaper at 0.06% per year. On volatility, ISCG has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCG or IAU?

Over the 10-year period, IAU has performed better with a 13.31% return vs 11.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCG or IAU?

ISCG is cheaper with a 0.06% expense ratio, compared with 0.25% for IAU.

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

ISCG has the higher dividend yield at 0.56%, compared with 0.00% for IAU.

What is the main difference between ISCG and IAU?

ISCG is categorized as Small Cap Growth Equities, while IAU is Gold. ISCG tracks Morningstar US Small Cap Broad Growth Extended Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.06% for ISCG and 0.25% for IAU.

Which has better risk-adjusted returns?

ISCG currently has the higher Sharpe Ratio (1.70 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.