IVW vs. IAU
IVW (iShares S&P 500 Growth ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - IVW is a Large Cap Growth Equities fund tracking the S&P 500 Growth Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IVW returned 17.24%/yr vs 11.21%/yr for IAU. Their 0.07 correlation means their historical movements had little consistent relationship. IVW charges 0.18%/yr vs 0.25%/yr for IAU.
Performance
IVW vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, IVW achieves a 9.92% return, which is significantly higher than IAU's -6.16% return. Over the past 10 years, IVW has outperformed IAU with an annualized return of 17.24%, while IAU has yielded a comparatively lower 11.21% annualized return.
IVW
- 1D
- 1.44%
- 1M
- -0.12%
- 6M
- 9.37%
- YTD
- 9.92%
- 1Y
- 21.55%
- 3Y*
- 23.84%
- 5Y*
- 13.12%
- 10Y*
- 17.24%
- ALL TIME*
- 8.83%
IAU
- 1D
- -1.46%
- 1M
- -1.73%
- 6M
- -16.48%
- YTD
- -6.16%
- 1Y
- 20.35%
- 3Y*
- 27.40%
- 5Y*
- 17.12%
- 10Y*
- 11.21%
- ALL TIME*
- 10.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $349.43M | $363.40M | $472.72M | |
| $179.67M | $190.15M | $300.66M |
IVW vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVW iShares S&P 500 Growth ETF | 9.92% | 21.95% | 35.82% | 29.83% | -29.50% | 31.80% | 33.19% | 30.77% | -0.21% | 27.21% |
IAU iShares Gold Trust | -6.16% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between IVW and IAU is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2005 | 0.07 |
Over the past year, IVW and IAU have become more correlated (0.28) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
IVW vs. IAU — Risk / Return Rank
IVW
IAU
IVW vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Growth ETF (IVW) 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.
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.
| IVW | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 0.87 | +0.53 |
| Martin ratioReturn relative to average drawdown | 5.09 | 1.88 | +3.21 |
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Drawdowns
IVW vs. IAU - Drawdown Comparison
The maximum IVW drawdown since its inception was -57.33%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for IVW and IAU.
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Drawdown Indicators
| IVW | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.33% | -45.14% | -12.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -26.36% | +12.61% |
Max Drawdown (3Y)Largest decline over 3 years | -22.15% | -26.36% | +4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -32.72% | -26.36% | -6.36% |
Max Drawdown (10Y)Largest decline over 10 years | -32.72% | -26.36% | -6.36% |
Current DrawdownCurrent decline from peak | -4.39% | -25.01% | +20.62% |
Average DrawdownAverage peak-to-trough decline | -17.53% | -16.02% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 12.16% | -8.37% |
Volatility
IVW vs. IAU - Volatility Comparison
The current volatility for iShares S&P 500 Growth ETF (IVW) is 6.01%, while iShares Gold Trust (IAU) has a volatility of 6.35%. This indicates that IVW 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
| IVW | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.01% | 6.35% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 14.74% | 23.35% | -8.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 27.92% | -9.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 18.42% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.76% | 16.08% | +4.68% |
IVW vs. IAU - Expense Ratio Comparison
IVW has a 0.18% 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
IVW vs. IAU - Dividend Comparison
IVW's dividend yield for the trailing twelve months is around 0.37%, 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% |
IVW iShares S&P 500 Growth ETF | 0.37% | 0.40% | 0.43% | 1.03% | 0.92% | 0.46% | 0.82% | 1.63% | 1.28% | 1.30% | 1.51% | 1.51% |
Frequently Asked Questions
IVW and IAU have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (6.35%) compared to IVW (6.01%). In terms of maximum drawdown, IVW dropped -57.33% vs IAU's -45.14%.
On 10-year performance, IVW leads with 17.24% vs 11.21% for IAU. On fees, IVW is cheaper at 0.18% per year. On volatility, IVW has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IVW has performed better with a 17.24% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVW is cheaper with a 0.18% expense ratio, compared with 0.25% for IAU.
IVW has the higher dividend yield at 0.37%, compared with 0.00% for IAU.
IVW is categorized as Large Cap Growth Equities, while IAU is Gold. IVW tracks S&P 500 Growth Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.18% for IVW and 0.25% for IAU.
IVW currently has the higher Sharpe Ratio (1.07 vs 0.82), 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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