SPLV vs. IAUM
SPLV (Invesco S&P 500 Low Volatility ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, SPLV returned 6.18%/yr vs 17.63%/yr for IAUM. At a 0.12 correlation, their price movements are largely independent. SPLV charges 0.25%/yr vs 0.09%/yr for IAUM.
Performance
SPLV vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, SPLV achieves a 7.41% return, which is significantly higher than IAUM's -5.30% return.
SPLV
- 1D
- -0.47%
- 1M
- 4.00%
- 6M
- 5.47%
- YTD
- 7.41%
- 1Y
- 6.48%
- 3Y*
- 8.07%
- 5Y*
- 6.18%
- 10Y*
- 8.06%
- ALL TIME*
- 10.12%
IAUM
- 1D
- 1.95%
- 1M
- -3.12%
- 6M
- -14.17%
- YTD
- -5.30%
- 1Y
- 20.12%
- 3Y*
- 27.59%
- 5Y*
- 17.63%
- 10Y*
- —
- ALL TIME*
- 18.00%
SPLV vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPLV Invesco S&P 500 Low Volatility ETF | 7.41% | 4.10% | 13.93% | 0.53% | -4.88% | 13.40% |
IAUM iShares Gold Trust Micro | -5.30% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between SPLV and IAUM is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.12 |
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Return for Risk
SPLV vs. IAUM — Risk / Return Rank
SPLV
IAUM
SPLV vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Low Volatility ETF (SPLV) and iShares Gold Trust Micro (IAUM). 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.
| SPLV | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.15 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.77 | +0.11 |
| Martin ratioReturn relative to average drawdown | 2.01 | 1.78 | +0.23 |
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Drawdowns
SPLV vs. IAUM - Drawdown Comparison
The maximum SPLV drawdown since its inception was -36.26%, which is greater than IAUM's maximum drawdown of -26.31%. Use the drawdown chart below to compare losses from any high point for SPLV and IAUM.
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Drawdown Indicators
| SPLV | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.26% | -26.31% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -26.31% | +18.90% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -26.31% | +16.67% |
Max Drawdown (5Y)Largest decline over 5 years | -17.26% | -26.31% | +9.05% |
Max Drawdown (10Y)Largest decline over 10 years | -36.26% | — | — |
Current DrawdownCurrent decline from peak | -1.39% | -24.32% | +22.93% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -5.75% | +2.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 11.34% | -8.12% |
Volatility
SPLV vs. IAUM - Volatility Comparison
The current volatility for Invesco S&P 500 Low Volatility ETF (SPLV) is 4.28%, while iShares Gold Trust Micro (IAUM) has a volatility of 6.67%. This indicates that SPLV experiences smaller price fluctuations and is considered to be less risky than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLV | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 6.67% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.08% | 23.99% | -15.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.65% | 27.75% | -17.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.59% | 18.28% | -5.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.41% | 18.18% | -2.77% |
SPLV vs. IAUM - Expense Ratio Comparison
SPLV has a 0.25% expense ratio, which is higher than IAUM's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPLV vs. IAUM - Dividend Comparison
SPLV's dividend yield for the trailing twelve months is around 2.14%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPLV Invesco S&P 500 Low Volatility ETF | 2.14% | 2.04% | 1.88% | 2.45% | 2.11% | 1.51% | 2.12% | 2.08% | 2.18% | 2.03% | 2.03% | 2.28% |
Frequently Asked Questions
SPLV and IAUM have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAUM has higher volatility (6.67%) compared to SPLV (4.28%). In terms of maximum drawdown, SPLV dropped -36.26% vs IAUM's -26.31%.
On 5-year performance, IAUM leads with 17.63% vs 6.18% for SPLV. On fees, IAUM is cheaper at 0.09% per year. On volatility, SPLV has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAUM has performed better with a 17.63% return vs 6.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 0.25% for SPLV.
SPLV has the higher dividend yield at 2.14%, compared with 0.00% for IAUM.
SPLV is categorized as S&P 500, while IAUM is Gold. SPLV tracks S&P 500 Low Volatility Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for SPLV and 0.09% for IAUM.
IAUM currently has the higher Sharpe Ratio (0.73 vs 0.61), 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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