QNXT vs. IAU

Last updated Jun 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - QNXT is a Nasdaq-100 fund tracking the Nasdaq-100 ex Top 30 UCITS Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past year, QNXT returned 25.34% vs 32.20% for IAU. At a 0.09 correlation, their price movements are largely independent. QNXT charges 0.20%/yr vs 0.25%/yr for IAU.

Performance

QNXT vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq-100 ex Top 30 ETF (QNXT) 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, QNXT achieves a 15.67% return, which is significantly higher than IAU's 2.98% return.

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

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

QNXT vs. IAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	14.97%	-2.52%
IAU iShares Gold Trust	2.98%	63.95%	-4.20%

Correlation

The correlation between QNXT and IAU is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.09

QNXT vs. IAU - Sectors Allocation Comparison

Sectors	QNXT	IAU
Technology	40.3%	-
Consumer Cyclical	17.0%	-
Industrials	10.6%	-
Communication Services	8.8%	-
Healthcare	7.5%	-
Utilities	6.1%	-
Consumer Defensive	5.7%	-
Energy	2.7%	-
Financial Services	1.0%	-
Real Estate	0.3%	100.0%
Basic Materials	-	-

Return for Risk

QNXT vs. IAU — Risk / Return Rank

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

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

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.

QNXT vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) 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.

	QNXT	IAU	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.23	+0.47
Sortino ratio: Return per unit of downside risk	2.37	1.62	+0.75
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.05
Calmar ratio: Return relative to maximum drawdown	2.50	1.69	+0.82
Martin ratio: Return relative to average drawdown	8.17	4.19	+3.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNXT vs. IAU - Sharpe Ratio Comparison

The current QNXT Sharpe Ratio is 1.70, which is higher than the IAU Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of QNXT 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.

Sharpe Ratios by Period

	QNXT	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.23	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.03	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.62	+0.28

Drawdowns

QNXT vs. IAU - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for QNXT and IAU.

Drawdown Indicators

	QNXT	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-45.14%	+22.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-19.18%	+9.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.82%	—
Current Drawdown Current decline from peak	-0.61%	-17.70%	+17.09%
Average Drawdown Average peak-to-trough decline	-3.79%	-15.96%	+12.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	7.71%	-4.60%

Volatility

QNXT vs. IAU - Volatility Comparison

The current volatility for iShares Nasdaq-100 ex Top 30 ETF (QNXT) is 3.52%, while iShares Gold Trust (IAU) has a volatility of 5.50%. This indicates that QNXT 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

	QNXT	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	5.50%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	23.02%	-12.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	26.42%	-11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	17.95%	+1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	15.90%	+3.83%

QNXT vs. IAU - Expense Ratio Comparison

QNXT has a 0.20% expense ratio, which is lower than IAU's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QNXT vs. IAU - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.60%, while IAU has not paid dividends to shareholders.

Position	TTM	2025	2024
IAU iShares Gold Trust	0.00%	0.00%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QNXT and IAU in my portfolio?

QNXT and IAU have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QNXT or IAU?

IAU has higher volatility (5.50%) compared to QNXT (3.52%). In terms of maximum drawdown, QNXT dropped -22.25% vs IAU's -45.14%.

Which ETF is better, QNXT or IAU?

On 1-year performance, IAU leads with 32.20% vs 25.34% for QNXT. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QNXT or IAU?

Over the 1-year period, IAU has performed better with a 32.20% return vs 25.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QNXT or IAU?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.25% for IAU.

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

QNXT has the higher dividend yield at 0.60%, compared with 0.00% for IAU.

What is the main difference between QNXT and IAU?

QNXT is categorized as Nasdaq-100, while IAU is Gold. QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.20% for QNXT and 0.25% for IAU.

Which has better risk-adjusted returns?

QNXT currently has the higher Sharpe Ratio (1.70 vs 1.23), 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.