IYM vs. GLD
IYM (iShares U.S. Basic Materials ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - IYM is a Materials fund tracking the Dow Jones U.S. Basic Materials Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, IYM returned 11.23%/yr vs 12.15%/yr for GLD. At a 0.23 correlation, their price movements are largely independent. IYM charges 0.42%/yr vs 0.40%/yr for GLD.
Performance
IYM vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, IYM achieves a 22.39% return, which is significantly higher than GLD's -2.47% return. Over the past 10 years, IYM has underperformed GLD with an annualized return of 11.23%, while GLD has yielded a comparatively higher 12.15% annualized return.
IYM
- 1D
- 1.70%
- 1M
- 1.07%
- YTD
- 22.39%
- 6M
- 23.93%
- 1Y
- 37.90%
- 3Y*
- 14.64%
- 5Y*
- 8.31%
- 10Y*
- 11.23%
GLD
- 1D
- 0.06%
- 1M
- -9.52%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
IYM vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYM iShares U.S. Basic Materials ETF | 22.39% | 20.41% | -4.54% | 12.83% | -9.15% | 25.62% | 17.87% | 19.22% | -16.63% | 24.83% |
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 IYM and GLD is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.23 |
Over the past year, IYM and GLD have become more correlated (0.52) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
IYM vs. GLD — Risk / Return Rank
IYM
GLD
IYM vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Basic Materials ETF (IYM) 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.
| IYM | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.18 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 0.98 | +1.76 |
| Martin ratioReturn relative to average drawdown | 10.29 | 2.81 | +7.48 |
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Drawdowns
IYM vs. GLD - Drawdown Comparison
The maximum IYM drawdown since its inception was -67.78%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for IYM and GLD.
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Drawdown Indicators
| IYM | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.78% | -45.56% | -22.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -24.46% | +10.85% |
Max Drawdown (3Y)Largest decline over 3 years | -23.62% | -24.46% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -29.94% | -24.46% | -5.48% |
Max Drawdown (10Y)Largest decline over 10 years | -42.76% | -24.46% | -18.30% |
Current DrawdownCurrent decline from peak | -0.61% | -22.05% | +21.44% |
Average DrawdownAverage peak-to-trough decline | -11.45% | -16.16% | +4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 8.49% | -4.88% |
Volatility
IYM vs. GLD - Volatility Comparison
iShares U.S. Basic Materials ETF (IYM) and SPDR Gold Shares (GLD) have volatilities of 8.10% and 7.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYM | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 7.79% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 15.79% | 24.10% | -8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 27.37% | -7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.53% | 18.22% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.77% | 16.08% | +5.69% |
IYM vs. GLD - Expense Ratio Comparison
IYM has a 0.42% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
IYM vs. GLD - Dividend Comparison
IYM's dividend yield for the trailing twelve months is around 1.23%, 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% |
IYM iShares U.S. Basic Materials ETF | 1.23% | 1.51% | 1.65% | 1.77% | 2.14% | 1.48% | 1.39% | 2.08% | 1.68% | 1.43% | 1.47% | 2.04% |
Frequently Asked Questions
IYM and GLD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYM has higher volatility (8.10%) compared to GLD (7.79%). In terms of maximum drawdown, IYM dropped -67.78% vs GLD's -45.56%.
On 10-year performance, GLD leads with 12.15% vs 11.23% for IYM. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 7.79%. 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 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.42% for IYM.
IYM has the higher dividend yield at 1.23%, compared with 0.00% for GLD.
IYM is categorized as Materials, while GLD is Gold. IYM tracks Dow Jones U.S. Basic Materials Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for IYM and 0.40% for GLD.
IYM currently has the higher Sharpe Ratio (1.90 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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