MOAT vs. IAU

Last updated Jun 13, 2026

MOAT (VanEck Morningstar Wide Moat ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, MOAT returned 13.47%/yr vs 12.31%/yr for IAU. At a 0.05 correlation, their price movements are largely independent. MOAT charges 0.47%/yr vs 0.25%/yr for IAU.

Performance

MOAT vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat ETF (MOAT) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MOAT achieves a -0.66% return, which is significantly higher than IAU's -2.44% return. Over the past 10 years, MOAT has outperformed IAU with an annualized return of 13.47%, while IAU has yielded a comparatively lower 12.31% annualized return.

MOAT

• 1D: 0.41%
• 1M: 3.44%
• YTD: -0.66%
• 6M: -1.22%
• 1Y: 12.57%
• 3Y*: 10.55%
• 5Y*: 7.78%
• 10Y*: 13.47%

IAU

• 1D: 0.08%
• 1M: -10.21%
• YTD: -2.44%
• 6M: -2.22%
• 1Y: 23.95%
• 3Y*: 29.07%
• 5Y*: 17.23%
• 10Y*: 12.31%

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

MOAT vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOAT VanEck Morningstar Wide Moat ETF	-0.66%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%
IAU iShares Gold Trust	-2.44%	63.95%	26.85%	12.84%	-0.63%	-4.00%	25.03%	17.98%	-1.76%	12.91%

Correlation

The correlation between MOAT and IAU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.05

The correlation between MOAT and IAU shifts across timeframes, from 0.05 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

MOAT vs. IAU - Sectors Allocation Comparison

Sectors	MOAT	IAU
Technology	32.8%	-
Consumer Defensive	17.5%	-
Healthcare	16.0%	-
Industrials	13.5%	-
Consumer Cyclical	10.3%	-
Financial Services	6.7%	-
Communication Services	2.4%	-
Real Estate	0.8%	100.0%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

MOAT vs. IAU — Risk / Return Rank

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

MOAT

MOAT Risk / Return Rank: 26
MOAT Sharpe Ratio Rank: 28
MOAT Sortino Ratio Rank: 28
MOAT Omega Ratio Rank: 26
MOAT Calmar Ratio Rank: 24
MOAT Martin Ratio Rank: 26

IAU

IAU Risk / Return Rank: 26
IAU Sharpe Ratio Rank: 28
IAU Sortino Ratio Rank: 25
IAU Omega Ratio Rank: 30
IAU Calmar Ratio Rank: 24
IAU Martin Ratio Rank: 24

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.

MOAT vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat ETF (MOAT) 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.

	MOAT	IAU	Difference
Sharpe ratio: Return per unit of total volatility	0.91	0.89	+0.02
Sortino ratio: Return per unit of downside risk	1.39	1.25	+0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.19	-0.03
Calmar ratio: Return relative to maximum drawdown	1.02	0.99	+0.03
Martin ratio: Return relative to average drawdown	3.11	2.83	+0.28

MOAT vs. IAU - Sharpe Ratio Comparison

The current MOAT Sharpe Ratio is 0.91, which is comparable to the IAU Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of MOAT and IAU, 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

MOAT vs. IAU - Drawdown Comparison

The maximum MOAT drawdown since its inception was -33.31%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for MOAT and IAU.

Drawdown Indicators

	MOAT	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-33.31%	-45.14%	+11.83%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-24.40%	+11.97%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-24.40%	+2.96%
Max Drawdown (5Y) Largest decline over 5 years	-23.96%	-24.40%	+0.44%
Max Drawdown (10Y) Largest decline over 10 years	-33.31%	-24.40%	-8.91%
Current Drawdown Current decline from peak	-4.45%	-22.03%	+17.58%
Average Drawdown Average peak-to-trough decline	-3.83%	-15.97%	+12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	8.47%	-4.41%

Volatility

MOAT vs. IAU - Volatility Comparison

The current volatility for VanEck Morningstar Wide Moat ETF (MOAT) is 4.13%, while iShares Gold Trust (IAU) has a volatility of 7.70%. This indicates that MOAT 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.

Volatility by Period

	MOAT	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	7.70%	-3.57%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	23.94%	-14.04%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	27.17%	-13.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	18.16%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	16.02%	+2.66%

MOAT vs. IAU - Expense Ratio Comparison

MOAT has a 0.47% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

MOAT vs. IAU - Dividend Comparison

MOAT's dividend yield for the trailing twelve months is around 1.36%, 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%
MOAT VanEck Morningstar Wide Moat ETF	1.36%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both MOAT and IAU in my portfolio?

MOAT and IAU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOAT or IAU?

IAU has higher volatility (7.70%) compared to MOAT (4.13%). In terms of maximum drawdown, MOAT dropped -33.31% vs IAU's -45.14%.

Which ETF is better, MOAT or IAU?

On 10-year performance, MOAT leads with 13.47% vs 12.31% for IAU. On fees, IAU is cheaper at 0.25% per year. On volatility, MOAT has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MOAT or IAU?

Over the 10-year period, MOAT has performed better with a 13.47% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MOAT or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.47% for MOAT.

Which ETF pays a higher dividend yield, MOAT or IAU?

MOAT has the higher dividend yield at 1.36%, compared with 0.00% for IAU.

What is the main difference between MOAT and IAU?

MOAT is categorized as Large Cap Blend Equities, while IAU is Gold. MOAT tracks Morningstar Wide Moat Focus Index, while IAU tracks LBMA Gold Price. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.47% for MOAT and 0.25% for IAU.

Which has better risk-adjusted returns?

MOAT currently has the higher Sharpe Ratio (0.91 vs 0.89), 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.