PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IYG vs. IAT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYG vs. IAT

Last updated Jun 26, 2026

IYG (iShares U.S. Financial Services ETF) and IAT (iShares U.S. Regional Banks ETF) are both Financials Equities funds from iShares - IYG tracks the Dow Jones U.S. Financial Services TR while IAT tracks the Dow Jones U.S. Select Regional Banks Index. Both are passively managed. Over the past 10 years, IYG returned 15.44%/yr vs 10.53%/yr for IAT. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.42% expense ratio.

Performance

IYG vs. IAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Financial Services ETF (IYG) and iShares U.S. Regional Banks ETF (IAT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IYG achieves a -1.32% return, which is significantly lower than IAT's 14.33% return. Over the past 10 years, IYG has outperformed IAT with an annualized return of 15.44%, while IAT has yielded a comparatively lower 10.53% annualized return.

IYG

1D
-0.26%
1M
3.67%
YTD
-1.32%
6M
-3.23%
1Y
9.14%
3Y*
22.83%
5Y*
9.40%
10Y*
15.44%

IAT

1D
1.60%
1M
8.56%
YTD
14.33%
6M
11.60%
1Y
32.81%
3Y*
27.94%
5Y*
4.40%
10Y*
10.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYG vs. IAT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYG
iShares U.S. Financial Services ETF		-1.32%19.85%31.94%16.07%-16.76%30.36%0.99%37.62%-12.56%24.47%
IAT
iShares U.S. Regional Banks ETF		14.33%13.05%24.36%-8.53%-20.61%38.89%-7.60%31.38%-17.45%10.42%

Correlation

The correlation between IYG and IAT is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (5Y)
Calculated over the trailing 5-year period

0.86

Correlation (10Y)
Calculated over the trailing 10-year period

0.88

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.90

The correlation between IYG and IAT shifts across timeframes, from 0.74 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

IYG vs. IAT - Sectors Allocation Comparison

Sectors
IYG
IAT

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IYG
100.0%
IAT
100.0%

Basic Materials

IYG

-

IAT

-

Communication Services

IYG

-

IAT

-

Consumer Cyclical

IYG

-

IAT

-

Consumer Defensive

IYG

-

IAT

-

Energy

IYG

-

IAT

-

Healthcare

IYG

-

IAT

-

Industrials

IYG

-

IAT

-

Real Estate

IYG

-

IAT

-

Technology

IYG

-

IAT

-

Utilities

IYG

-

IAT

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Financial Services ETF

iShares U.S. Regional Banks ETF

Often compared with IYG:
IYG vs. IYFIYG vs. XLFIYG vs. IXGIYG vs. VFHIYG vs. FTXOIYG vs. GABFIYG vs. IYK
Often compared with IAT:
IAT vs. KREIAT vs. KCEIAT vs. MTBIAT vs. PKWIAT vs. XLFIAT vs. JPMIAT vs. SPY

Return for Risk

IYG vs. IAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYG
IYG Risk / Return Rank: 1717
Overall Rank
IYG Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
IYG Sortino Ratio Rank: 1818
Sortino Ratio Rank
IYG Omega Ratio Rank: 1818
Omega Ratio Rank
IYG Calmar Ratio Rank: 1616
Calmar Ratio Rank
IYG Martin Ratio Rank: 1616
Martin Ratio Rank
IAT
IAT Risk / Return Rank: 4444
Overall Rank
IAT Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
IAT Sortino Ratio Rank: 4646
Sortino Ratio Rank
IAT Omega Ratio Rank: 4747
Omega Ratio Rank
IAT Calmar Ratio Rank: 4242
Calmar Ratio Rank
IAT Martin Ratio Rank: 3535
Martin Ratio Rank
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.

IYG vs. IAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) and iShares U.S. Regional Banks ETF (IAT). 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.

IYGIATDifference
Sharpe ratioReturn per unit of total volatility
0.59
1.50

-0.91

Sortino ratioReturn per unit of downside risk
0.89
2.05

-1.15

Omega ratioGain probability vs. loss probability

1.11

1.27

-0.16

Calmar ratioReturn relative to maximum drawdown

0.58

1.88

-1.31

Martin ratioReturn relative to average drawdown

1.47

4.79

-3.32

IYG vs. IAT - Sharpe Ratio Comparison

The current IYG Sharpe Ratio is 0.59, which is lower than the IAT Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of IYG and IAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

IYG vs. IAT - Drawdown Comparison

The maximum IYG drawdown since its inception was -81.84%, which is greater than IAT's maximum drawdown of -77.22%. Use the drawdown chart below to compare losses from any high point for IYG and IAT.

Loading charts...

Drawdown Indicators

IYGIATDifference

Max Drawdown

Largest peak-to-trough decline

-81.84%

-77.22%

-4.62%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-17.49%

+1.59%

Max Drawdown (3Y)

Largest decline over 3 years

-18.54%

-29.29%

+10.75%

Max Drawdown (5Y)

Largest decline over 5 years

-29.62%

-55.55%

+25.93%

Max Drawdown (10Y)

Largest decline over 10 years

-44.32%

-55.55%

+11.23%

Current Drawdown

Current decline from peak

-4.75%

0.00%

-4.75%

Average Drawdown

Average peak-to-trough decline

-20.71%

-26.90%

+6.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.24%

6.87%

-0.63%

Volatility

IYG vs. IAT - Volatility Comparison

The current volatility for iShares U.S. Financial Services ETF (IYG) is 4.47%, while iShares U.S. Regional Banks ETF (IAT) has a volatility of 6.92%. This indicates that IYG experiences smaller price fluctuations and is considered to be less risky than IAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IYGIATDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.47%

6.92%

-2.45%

Volatility (6M)

Calculated over the trailing 6-month period

12.07%

16.20%

-4.13%

Volatility (1Y)

Calculated over the trailing 1-year period

15.49%

21.98%

-6.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.41%

28.95%

-8.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.44%

30.73%

-7.29%

IYG vs. IAT - Expense Ratio Comparison

Both IYG and IAT have an expense ratio of 0.42%.

Dividends

IYG vs. IAT - Dividend Comparison

IYG's dividend yield for the trailing twelve months is around 1.09%, less than IAT's 2.59% yield.

PositionTTM20252024202320222021202020192018201720162015
IAT
iShares U.S. Regional Banks ETF		2.59%2.94%2.95%3.56%3.12%1.88%2.87%2.49%2.48%1.55%1.52%1.78%
IYG
iShares U.S. Financial Services ETF		1.09%1.00%1.16%1.77%2.07%1.25%1.71%1.59%1.81%1.24%1.28%1.33%

Frequently Asked Questions

IYG and IAT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAT has higher volatility (6.92%) compared to IYG (4.47%). In terms of maximum drawdown, IYG dropped -81.84% vs IAT's -77.22%.

On 10-year performance, IYG leads with 15.44% vs 10.53% for IAT. Both ETFs have the same 0.42% expense ratio. On volatility, IYG has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYG has performed better with a 15.44% return vs 10.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYG and IAT have the same expense ratio: 0.42% per year.

IAT has the higher dividend yield at 2.59%, compared with 1.09% for IYG.

IYG tracks Dow Jones U.S. Financial Services TR, while IAT tracks Dow Jones U.S. Select Regional Banks Index.

IAT currently has the higher Sharpe Ratio (1.50 vs 0.59), 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.

Portfolio Optimizer

Find the right allocation for IYG and IAT

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer