IUSB vs. GLD
IUSB (iShares Core Universal USD Bond ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, IUSB returned 1.97%/yr vs 12.15%/yr for GLD. At a 0.35 correlation, their price movements are largely independent. IUSB charges 0.06%/yr vs 0.40%/yr for GLD.
Performance
IUSB vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, IUSB achieves a 0.67% return, which is significantly higher than GLD's -2.47% return. Over the past 10 years, IUSB has underperformed GLD with an annualized return of 1.97%, while GLD has yielded a comparatively higher 12.15% annualized return.
IUSB
- 1D
- -0.07%
- 1M
- 1.10%
- YTD
- 0.67%
- 6M
- 1.05%
- 1Y
- 5.21%
- 3Y*
- 4.70%
- 5Y*
- 0.39%
- 10Y*
- 1.97%
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
IUSB vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.67% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between IUSB and GLD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | 0.35 |
The correlation between IUSB and GLD shifts across timeframes, from 0.26 (3 years) to 0.38 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IUSB vs. GLD — Risk / Return Rank
IUSB
GLD
IUSB vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) and SPDR Gold Shares (GLD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IUSB | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 0.98 | +0.94 |
| Martin ratioReturn relative to average drawdown | 5.62 | 2.81 | +2.81 |
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Drawdowns
IUSB vs. GLD - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for IUSB and GLD.
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Drawdown Indicators
| IUSB | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -45.56% | +27.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -24.46% | +21.93% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -24.46% | +18.64% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -24.46% | +6.59% |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | -24.46% | +6.56% |
Current DrawdownCurrent decline from peak | -1.09% | -22.05% | +20.96% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -16.16% | +12.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 8.49% | -7.63% |
Volatility
IUSB vs. GLD - Volatility Comparison
The current volatility for iShares Core Universal USD Bond ETF (IUSB) is 1.30%, while SPDR Gold Shares (GLD) has a volatility of 7.79%. This indicates that IUSB experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 7.79% | -6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 24.10% | -21.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.59% | 27.37% | -23.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 18.22% | -12.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 16.08% | -11.04% |
IUSB vs. GLD - Expense Ratio Comparison
IUSB has a 0.06% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
IUSB vs. GLD - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.22%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IUSB iShares Core Universal USD Bond ETF | 4.22% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
IUSB and GLD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (7.79%) compared to IUSB (1.30%). In terms of maximum drawdown, IUSB dropped -17.90% vs GLD's -45.56%.
On 10-year performance, GLD leads with 12.15% vs 1.97% for IUSB. On fees, IUSB is cheaper at 0.06% per year. On volatility, IUSB has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLD has performed better with a 12.15% return vs 1.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.40% for GLD.
IUSB has the higher dividend yield at 4.22%, compared with 0.00% for GLD.
IUSB is categorized as Intermediate Core-Plus Bond, while GLD is Gold. IUSB tracks Bloomberg U.S. Universal Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.06% for IUSB and 0.40% for GLD.
IUSB currently has the higher Sharpe Ratio (1.35 vs 0.87), 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.
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