JANW vs. IAUM

Last updated Jun 13, 2026

JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - JANW is a Options Trading fund actively managed by Allianz, while IAUM is a Gold fund tracking the LBMA Gold Price PM. JANW is actively managed, while IAUM is passively managed. Over the past 3 years, JANW returned 10.44%/yr vs 29.28%/yr for IAUM. At a 0.10 correlation, their price movements are largely independent. JANW charges 0.74%/yr vs 0.09%/yr for IAUM.

Performance

JANW vs. IAUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and iShares Gold Trust Micro (IAUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANW achieves a 4.00% return, which is significantly higher than IAUM's -2.40% return.

JANW

• 1D: 0.18%
• 1M: 0.23%
• YTD: 4.00%
• 6M: 4.45%
• 1Y: 12.31%
• 3Y*: 10.44%
• 5Y*: 8.08%
• 10Y*: —

IAUM

• 1D: 0.10%
• 1M: -9.51%
• YTD: -2.40%
• 6M: -2.08%
• 1Y: 22.55%
• 3Y*: 29.28%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JANW vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF	4.00%	10.05%	10.99%	14.56%	-0.60%	1.60%
IAUM iShares Gold Trust Micro	-2.40%	64.27%	27.04%	13.12%	-0.49%	3.87%

Correlation

The correlation between JANW and IAUM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021	0.10

The correlation between JANW and IAUM shifts across timeframes, from 0.10 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

JANW vs. IAUM - Sectors Allocation Comparison

Sectors	JANW	IAUM
Technology	36.2%	-
Financial Services	11.9%	-
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	100.0%
Basic Materials	1.8%	-

Return for Risk

JANW vs. IAUM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JANW

JANW Risk / Return Rank: 86
JANW Sharpe Ratio Rank: 87
JANW Sortino Ratio Rank: 90
JANW Omega Ratio Rank: 91
JANW Calmar Ratio Rank: 72
JANW Martin Ratio Rank: 89

IAUM

IAUM Risk / Return Rank: 27
IAUM Sharpe Ratio Rank: 28
IAUM Sortino Ratio Rank: 25
IAUM Omega Ratio Rank: 31
IAUM Calmar Ratio Rank: 24
IAUM Martin Ratio Rank: 25

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.

JANW vs. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and iShares Gold Trust Micro (IAUM). 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.

	JANW	IAUM	Difference
Sharpe ratio: Return per unit of total volatility	2.50	0.90	+1.60
Sortino ratio: Return per unit of downside risk	3.71	1.26	+2.44
Omega ratio: Gain probability vs. loss probability	1.54	1.19	+0.35
Calmar ratio: Return relative to maximum drawdown	3.23	1.00	+2.23
Martin ratio: Return relative to average drawdown	17.55	2.87	+14.68

JANW vs. IAUM - Sharpe Ratio Comparison

The current JANW Sharpe Ratio is 2.50, which is higher than the IAUM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of JANW and IAUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JANW vs. IAUM - Drawdown Comparison

The maximum JANW drawdown since its inception was -9.69%, smaller than the maximum IAUM drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for JANW and IAUM.

Drawdown Indicators

	JANW	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-24.37%	+14.68%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-24.37%	+20.72%
Max Drawdown (3Y) Largest decline over 3 years	-8.66%	-24.37%	+15.71%
Max Drawdown (5Y) Largest decline over 5 years	-9.69%	—	—
Current Drawdown Current decline from peak	-0.54%	-21.99%	+21.45%
Average Drawdown Average peak-to-trough decline	-1.23%	-5.38%	+4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	8.46%	-7.79%

Volatility

JANW vs. IAUM - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is 1.31%, while iShares Gold Trust Micro (IAUM) has a volatility of 7.71%. This indicates that JANW experiences smaller price fluctuations and is considered to be less risky than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANW	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	7.71%	-6.40%
Volatility (6M) Calculated over the trailing 6-month period	3.83%	23.82%	-19.99%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	27.06%	-22.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.79%	18.05%	-11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	18.05%	-11.38%

JANW vs. IAUM - Expense Ratio Comparison

JANW has a 0.74% expense ratio, which is higher than IAUM's 0.09% expense ratio.

Dividends

JANW vs. IAUM - Dividend Comparison

Neither JANW nor IAUM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANW and IAUM in my portfolio?

JANW and IAUM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANW or IAUM?

IAUM has higher volatility (7.71%) compared to JANW (1.31%). In terms of maximum drawdown, JANW dropped -9.69% vs IAUM's -24.37%.

Which ETF is better, JANW or IAUM?

On 3-year performance, IAUM leads with 29.28% vs 10.44% for JANW. On fees, IAUM is cheaper at 0.09% per year. On volatility, JANW has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANW or IAUM?

Over the 3-year period, IAUM has performed better with a 29.28% return vs 10.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANW or IAUM?

IAUM is cheaper with a 0.09% expense ratio, compared with 0.74% for JANW.

Which ETF pays a higher dividend yield, JANW or IAUM?

JANW and IAUM have nearly identical dividend yields, around 0.00%.

What is the main difference between JANW and IAUM?

JANW is categorized as Options Trading, while IAUM is Gold. They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for JANW and 0.09% for IAUM.

Which has better risk-adjusted returns?

JANW currently has the higher Sharpe Ratio (2.50 vs 0.90), 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.