SKUK.AS vs. XAUT-USD

Last updated Jul 21, 2026

SKUK.AS (iShares $ Sukuk UCITS ETF USD (Dist)) is Emerging Markets Bonds fund tracking the J.P. Morgan EM Aggregate Sukuk Index, while XAUT-USD (Tether Gold USD) is a cryptocurrency. Over the past year, SKUK.AS returned 3.40% vs 20.95% for XAUT-USD. At a 0.06 correlation, their price movements are largely independent.

Performance

SKUK.AS vs. XAUT-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and Tether Gold USD (XAUT-USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKUK.AS achieves a -0.12% return, which is significantly higher than XAUT-USD's -5.33% return.

SKUK.AS

• 1D: 0.00%
• 1M: -0.31%
• 6M: 0.29%
• YTD: -0.12%
• 1Y: 3.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.07%

XAUT-USD

• 1D: 2.18%
• 1M: -0.63%
• 6M: -14.18%
• YTD: -5.33%
• 1Y: 20.95%
• 3Y*: 27.85%
• 5Y*: 17.80%
• 10Y*: —
• ALL TIME*: 15.38%

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

SKUK.AS vs. XAUT-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist)	-0.12%	5.00%	5.37%
XAUT-USD Tether Gold USD	-5.33%	64.73%	29.72%

Correlation

The correlation between SKUK.AS and XAUT-USD is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.06

Return for Risk

SKUK.AS vs. XAUT-USD — Risk / Return Rank

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

SKUK.AS

SKUK.AS Risk / Return Rank: 37
SKUK.AS Sharpe Ratio Rank: 39
SKUK.AS Sortino Ratio Rank: 42
SKUK.AS Omega Ratio Rank: 43
SKUK.AS Calmar Ratio Rank: 28
SKUK.AS Martin Ratio Rank: 34

XAUT-USD

XAUT-USD Risk / Return Rank: 96
XAUT-USD Sharpe Ratio Rank: 97
XAUT-USD Sortino Ratio Rank: 94
XAUT-USD Omega Ratio Rank: 95
XAUT-USD Calmar Ratio Rank: 97
XAUT-USD Martin Ratio Rank: 97

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.

SKUK.AS vs. XAUT-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and Tether Gold USD (XAUT-USD). 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.

	SKUK.AS	XAUT-USD	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.76	+0.30
Sortino ratio: Return per unit of downside risk	1.64	1.12	+0.52
Omega ratio: Gain probability vs. loss probability	1.21	1.15	+0.07
Calmar ratio: Return relative to maximum drawdown	1.01	0.75	+0.26
Martin ratio: Return relative to average drawdown	3.73	1.64	+2.09

SKUK.AS vs. XAUT-USD - Sharpe Ratio Comparison

The current SKUK.AS Sharpe Ratio is 1.06, which is higher than the XAUT-USD Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of SKUK.AS and XAUT-USD, 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

SKUK.AS vs. XAUT-USD - Drawdown Comparison

The maximum SKUK.AS drawdown since its inception was -3.33%, smaller than the maximum XAUT-USD drawdown of -27.89%. Use the drawdown chart below to compare losses from any high point for SKUK.AS and XAUT-USD.

Drawdown Indicators

	SKUK.AS	XAUT-USD	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	-27.89%	+24.56%
Max Drawdown (1Y) Largest decline over 1 year	-3.33%	-27.89%	+24.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.89%	—
Current Drawdown Current decline from peak	-0.89%	-25.79%	+24.90%
Average Drawdown Average peak-to-trough decline	-0.65%	-6.82%	+6.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	15.01%	-14.10%

Volatility

SKUK.AS vs. XAUT-USD - Volatility Comparison

The current volatility for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) is 0.59%, while Tether Gold USD (XAUT-USD) has a volatility of 6.27%. This indicates that SKUK.AS experiences smaller price fluctuations and is considered to be less risky than XAUT-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKUK.AS	XAUT-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	6.27%	-5.68%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	24.11%	-21.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	22.99%	-19.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.15%	15.21%	-12.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.15%	15.32%	-12.17%

Frequently Asked Questions

Can I hold both SKUK.AS and XAUT-USD in my portfolio?

SKUK.AS and XAUT-USD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.