IUES.L vs. RMAU.L
IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and RMAU.L (The Royal Mint Physical Gold ETC Securities) are both exchange-traded funds - IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while RMAU.L is a Commodities fund tracking the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, IUES.L returned 20.33%/yr vs 18.44%/yr for RMAU.L. At a 0.09 correlation, their price movements are largely independent. IUES.L charges 0.15%/yr vs 0.22%/yr for RMAU.L.
Performance
IUES.L vs. RMAU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IUES.L achieves a 30.45% return, which is significantly higher than RMAU.L's 3.70% return.
IUES.L
- 1D
- -0.36%
- 1M
- -1.09%
- YTD
- 30.45%
- 6M
- 29.22%
- 1Y
- 46.28%
- 3Y*
- 16.84%
- 5Y*
- 20.33%
- 10Y*
- 9.21%
RMAU.L
- 1D
- 0.65%
- 1M
- -2.38%
- YTD
- 3.70%
- 6M
- 6.00%
- 1Y
- 32.20%
- 3Y*
- 31.36%
- 5Y*
- 18.44%
- 10Y*
- —
IUES.L vs. RMAU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 30.45% | 9.82% | 3.87% | -0.63% | 63.84% | 51.95% | -26.17% |
RMAU.L The Royal Mint Physical Gold ETC Securities | 3.70% | 64.57% | 25.96% | 13.29% | -0.19% | -4.14% | 14.46% |
Correlation
The correlation between IUES.L and RMAU.L is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2020 | 0.09 |
The correlation between IUES.L and RMAU.L shifts across timeframes, from -0.03 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IUES.L vs. RMAU.L — Risk / Return Rank
IUES.L
RMAU.L
IUES.L vs. RMAU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) and The Royal Mint Physical Gold ETC Securities (RMAU.L). 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.
| IUES.L | RMAU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.25 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 1.77 | +1.41 |
| Martin ratioReturn relative to average drawdown | 9.97 | 4.69 | +5.27 |
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
| IUES.L | RMAU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.29 | +0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 1.06 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.81 | -0.50 |
Drawdowns
IUES.L vs. RMAU.L - Drawdown Comparison
The maximum IUES.L drawdown since its inception was -66.78%, which is greater than RMAU.L's maximum drawdown of -21.56%. Use the drawdown chart below to compare losses from any high point for IUES.L and RMAU.L.
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Drawdown Indicators
| IUES.L | RMAU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.78% | -21.56% | -45.22% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -18.15% | +3.66% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -18.15% | -2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -27.98% | -21.17% | -6.81% |
Max Drawdown (10Y)Largest decline over 10 years | -66.78% | — | — |
Current DrawdownCurrent decline from peak | -7.45% | -15.95% | +8.50% |
Average DrawdownAverage peak-to-trough decline | -14.21% | -7.09% | -7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.63% | 6.84% | -2.21% |
Volatility
IUES.L vs. RMAU.L - Volatility Comparison
iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a higher volatility of 8.13% compared to The Royal Mint Physical Gold ETC Securities (RMAU.L) at 6.42%. This indicates that IUES.L's price experiences larger fluctuations and is considered to be riskier than RMAU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUES.L | RMAU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 6.42% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 18.58% | 21.86% | -3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.81% | 24.82% | -3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.72% | 17.62% | +9.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.49% | 21.34% | +7.15% |
IUES.L vs. RMAU.L - Expense Ratio Comparison
IUES.L has a 0.15% expense ratio, which is lower than RMAU.L's 0.22% 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
IUES.L vs. RMAU.L - Dividend Comparison
Neither IUES.L nor RMAU.L has paid dividends to shareholders.
Frequently Asked Questions
IUES.L and RMAU.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUES.L is cheaper with a 0.15% expense ratio, compared with 0.22% for RMAU.L.
IUES.L is categorized as Energy Equities, while RMAU.L is Commodities. IUES.L tracks MSCI World/Energy NR USD, while RMAU.L tracks LBMA Gold PM Price. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.15% for IUES.L and 0.22% for RMAU.L.
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