MINV.L vs. IAU
MINV.L (iShares Edge MSCI World Minimum Volatility UCITS ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - MINV.L is a Global Equities fund tracking the MSCI ACWI NR USD, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, MINV.L returned 6.48%/yr vs 11.16%/yr for IAU. At a 0.15 correlation, their price movements are largely independent. MINV.L charges 0.35%/yr vs 0.25%/yr for IAU.
Performance
MINV.L vs. IAU - Performance Comparison
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Different Trading Currencies
MINV.L is traded in GBp, while IAU is traded in USD. To make them comparable, the IAU values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MINV.L achieves a 2.40% return, which is significantly higher than IAU's -6.90% return. Over the past 10 years, MINV.L has underperformed IAU with an annualized return of 6.48%, while IAU has yielded a comparatively higher 11.16% annualized return.
MINV.L
- 1D
- -0.23%
- 1M
- 1.65%
- 6M
- 2.64%
- YTD
- 2.40%
- 1Y
- 4.06%
- 3Y*
- 7.04%
- 5Y*
- 5.48%
- 10Y*
- 6.48%
- ALL TIME*
- 6.04%
IAU
- 1D
- -0.05%
- 1M
- -6.60%
- 6M
- -13.03%
- YTD
- -6.90%
- 1Y
- 19.25%
- 3Y*
- 24.71%
- 5Y*
- 17.50%
- 10Y*
- 11.16%
- ALL TIME*
- 12.09%
MINV.L vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINV.L iShares Edge MSCI World Minimum Volatility UCITS ETF | 2.40% | 3.37% | 12.86% | 1.50% | 1.23% | 15.98% | -1.05% | 18.84% | 3.17% | 7.00% |
IAU iShares Gold Trust | -6.90% | 52.27% | 29.07% | 7.20% | 11.18% | -3.09% | 21.36% | 13.49% | 4.07% | 3.14% |
Correlation
The correlation between MINV.L and IAU is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.15 |
The correlation between MINV.L and IAU shifts across timeframes, from -0.05 (1 year) to 0.16 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MINV.L vs. IAU — Risk / Return Rank
MINV.L
IAU
MINV.L vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS ETF (MINV.L) 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.
| MINV.L | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.16 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 0.75 | -0.11 |
| Martin ratioReturn relative to average drawdown | 1.60 | 1.84 | -0.23 |
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Drawdowns
MINV.L vs. IAU - Drawdown Comparison
The maximum MINV.L drawdown since its inception was -39.64%, roughly equal to the maximum IAU drawdown of -41.56%. Use the drawdown chart below to compare losses from any high point for MINV.L and IAU.
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Drawdown Indicators
| MINV.L | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -41.56% | +1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.31% | -25.88% | +19.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -25.88% | +5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -20.10% | -25.88% | +5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -20.38% | -25.88% | +5.50% |
Current DrawdownCurrent decline from peak | -2.27% | -25.10% | +22.83% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -13.17% | +4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 10.50% | -7.98% |
Volatility
MINV.L vs. IAU - Volatility Comparison
The current volatility for iShares Edge MSCI World Minimum Volatility UCITS ETF (MINV.L) is 2.81%, while iShares Gold Trust (IAU) has a volatility of 5.68%. This indicates that MINV.L 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
| MINV.L | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.81% | 5.68% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 22.43% | -16.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.11% | 26.22% | -18.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 17.04% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 15.40% | -0.22% |
MINV.L vs. IAU - Expense Ratio Comparison
MINV.L has a 0.35% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
MINV.L vs. IAU - Dividend Comparison
Neither MINV.L nor IAU has paid dividends to shareholders.
Frequently Asked Questions
MINV.L and IAU have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.35% for MINV.L.
MINV.L is categorized as Global Equities, while IAU is Gold. MINV.L tracks MSCI ACWI NR USD, while IAU tracks LBMA Gold Price. Their fees differ too: 0.35% for MINV.L and 0.25% for IAU.
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