SCJ vs. IAU
SCJ (iShares MSCI Japan Small Cap ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - SCJ is a Japan Equities fund tracking the MSCI Japan Small Cap Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SCJ returned 7.48%/yr vs 11.21%/yr for IAU. Their 0.14 correlation means their historical movements had little consistent relationship. SCJ charges 0.49%/yr vs 0.25%/yr for IAU.
Performance
SCJ vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, SCJ achieves a 15.89% return, which is significantly higher than IAU's -6.16% return. Over the past 10 years, SCJ has underperformed IAU with an annualized return of 7.48%, while IAU has yielded a comparatively higher 11.21% annualized return.
SCJ
- 1D
- -0.74%
- 1M
- -1.70%
- 6M
- 9.71%
- YTD
- 15.89%
- 1Y
- 25.74%
- 3Y*
- 17.39%
- 5Y*
- 7.87%
- 10Y*
- 7.48%
- ALL TIME*
- 6.06%
IAU
- 1D
- -1.46%
- 1M
- -1.73%
- 6M
- -16.48%
- YTD
- -6.16%
- 1Y
- 20.35%
- 3Y*
- 27.40%
- 5Y*
- 17.12%
- 10Y*
- 11.21%
- ALL TIME*
- 10.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $349.43M | $363.40M | $472.72M | |
| $4.19M | $4.72M | $5.32M |
SCJ vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCJ iShares MSCI Japan Small Cap ETF | 15.89% | 29.58% | 3.41% | 13.22% | -12.75% | -2.95% | 7.46% | 16.16% | -17.17% | 31.61% |
IAU iShares Gold Trust | -6.16% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between SCJ and IAU is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007 | 0.14 |
Over the past year, SCJ and IAU have become more correlated (0.39) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
SCJ vs. IAU — Risk / Return Rank
SCJ
IAU
SCJ vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Small Cap ETF (SCJ) 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.
| SCJ | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.17 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 0.87 | +1.43 |
| Martin ratioReturn relative to average drawdown | 7.49 | 1.88 | +5.60 |
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Drawdowns
SCJ vs. IAU - Drawdown Comparison
The maximum SCJ drawdown since its inception was -43.52%, roughly equal to the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for SCJ and IAU.
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Drawdown Indicators
| SCJ | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.52% | -45.14% | +1.62% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -26.36% | +14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -26.36% | +13.93% |
Max Drawdown (5Y)Largest decline over 5 years | -33.25% | -26.36% | -6.89% |
Max Drawdown (10Y)Largest decline over 10 years | -38.87% | -26.36% | -12.51% |
Current DrawdownCurrent decline from peak | -3.27% | -25.01% | +21.74% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -16.02% | +5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 12.16% | -8.42% |
Volatility
SCJ vs. IAU - Volatility Comparison
iShares MSCI Japan Small Cap ETF (SCJ) and iShares Gold Trust (IAU) have volatilities of 6.35% and 6.35%, 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
| SCJ | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 6.35% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.53% | 23.35% | -8.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 27.92% | -10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.02% | 18.42% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 16.08% | +0.26% |
SCJ vs. IAU - Expense Ratio Comparison
SCJ has a 0.49% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
SCJ vs. IAU - Dividend Comparison
SCJ's dividend yield for the trailing twelve months is around 2.77%, 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% |
SCJ iShares MSCI Japan Small Cap ETF | 2.77% | 3.14% | 1.79% | 1.99% | 1.18% | 1.87% | 0.89% | 1.85% | 1.44% | 1.45% | 2.73% | 1.53% |
Frequently Asked Questions
SCJ and IAU have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (6.35%) compared to SCJ (6.35%). In terms of maximum drawdown, SCJ dropped -43.52% vs IAU's -45.14%.
On 10-year performance, IAU leads with 11.21% vs 7.48% for SCJ. On fees, IAU is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAU has performed better with a 11.21% return vs 7.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAU is cheaper with a 0.25% expense ratio, compared with 0.49% for SCJ.
SCJ has the higher dividend yield at 2.77%, compared with 0.00% for IAU.
SCJ is categorized as Japan Equities, while IAU is Gold. SCJ tracks MSCI Japan Small Cap Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.49% for SCJ and 0.25% for IAU.
SCJ currently has the higher Sharpe Ratio (1.63 vs 0.82), 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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