IUS5.DE vs. IAU
IUS5.DE (iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc)) and IAU (iShares Gold Trust) are both exchange-traded funds - IUS5.DE is a Inflation-Protected Bonds fund tracking the Bloomberg World Government Inflation-Linked Bond, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IUS5.DE returned 0.80%/yr vs 12.81%/yr for IAU. At a 0.26 correlation, their price movements are largely independent. IUS5.DE charges 0.20%/yr vs 0.25%/yr for IAU.
Performance
IUS5.DE vs. IAU - Performance Comparison
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Different Trading Currencies
IUS5.DE is traded in EUR, while IAU is traded in USD. To make them comparable, the IAU values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUS5.DE achieves a 2.13% return, which is significantly higher than IAU's 2.02% return. Over the past 10 years, IUS5.DE has underperformed IAU with an annualized return of 0.80%, while IAU has yielded a comparatively higher 12.81% annualized return.
IUS5.DE
- 1D
- -0.13%
- 1M
- 0.48%
- YTD
- 2.13%
- 6M
- 1.40%
- 1Y
- 2.24%
- 3Y*
- 0.57%
- 5Y*
- -1.37%
- 10Y*
- 0.80%
IAU
- 1D
- -2.86%
- 1M
- -6.20%
- YTD
- 2.02%
- 6M
- 3.70%
- 1Y
- 27.48%
- 3Y*
- 26.55%
- 5Y*
- 18.93%
- 10Y*
- 12.81%
IUS5.DE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUS5.DE iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) | 2.13% | -3.37% | 2.59% | 1.53% | -17.29% | 12.12% | 2.24% | 10.07% | 0.53% | -4.84% |
IAU iShares Gold Trust | 2.02% | 44.49% | 35.22% | 9.45% | 5.53% | 3.18% | 14.73% | 20.65% | 2.85% | -0.97% |
Correlation
The correlation between IUS5.DE and IAU is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2009 | 0.26 |
Over the past year, the correlation between IUS5.DE and IAU has dropped to 0.02 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.
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Return for Risk
IUS5.DE vs. IAU — Risk / Return Rank
IUS5.DE
IAU
IUS5.DE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) (IUS5.DE) 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.
| IUS5.DE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.23 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.54 | -0.67 |
| Martin ratioReturn relative to average drawdown | 1.67 | 3.81 | -2.14 |
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
| IUS5.DE | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 1.10 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 1.14 | -1.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | 0.86 | -0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.65 | -0.23 |
Drawdowns
IUS5.DE vs. IAU - Drawdown Comparison
The maximum IUS5.DE drawdown since its inception was -22.31%, smaller than the maximum IAU drawdown of -37.42%. Use the drawdown chart below to compare losses from any high point for IUS5.DE and IAU.
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Drawdown Indicators
| IUS5.DE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.31% | -37.42% | +15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -17.90% | +15.59% |
Max Drawdown (3Y)Largest decline over 3 years | -8.42% | -17.90% | +9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.31% | -17.90% | -4.41% |
Max Drawdown (10Y)Largest decline over 10 years | -22.31% | -18.61% | -3.70% |
Current DrawdownCurrent decline from peak | -17.45% | -17.90% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -12.02% | +4.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 7.24% | -6.03% |
Volatility
IUS5.DE vs. IAU - Volatility Comparison
The current volatility for iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) (IUS5.DE) is 1.90%, while iShares Gold Trust (IAU) has a volatility of 4.62%. This indicates that IUS5.DE 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.
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Volatility by Period
| IUS5.DE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 4.62% | -2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 21.86% | -18.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.02% | 25.16% | -20.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.56% | 16.68% | -8.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.94% | 14.89% | -6.95% |
IUS5.DE vs. IAU - Expense Ratio Comparison
IUS5.DE 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
IUS5.DE vs. IAU - Dividend Comparison
Neither IUS5.DE nor IAU has paid dividends to shareholders.
Frequently Asked Questions
IUS5.DE and IAU have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUS5.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUS5.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.
IUS5.DE is categorized as Inflation-Protected Bonds, while IAU is Gold. IUS5.DE tracks Bloomberg World Government Inflation-Linked Bond, while IAU tracks LBMA Gold Price. Their fees differ too: 0.20% for IUS5.DE and 0.25% for IAU.
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