TDIV.AS vs. IAU
TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.10%/yr vs 11.00%/yr for IAU. At a 0.02 correlation, their price movements are largely independent. TDIV.AS charges 0.38%/yr vs 0.25%/yr for IAU.
Performance
TDIV.AS vs. IAU - Performance Comparison
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Different Trading Currencies
TDIV.AS is traded in EUR, while IAU is traded in USD. To make them comparable, the IAU values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, TDIV.AS achieves a 14.59% return, which is significantly higher than IAU's -4.48% return. Over the past 10 years, TDIV.AS has outperformed IAU with an annualized return of 12.10%, while IAU has yielded a comparatively lower 11.00% annualized return.
TDIV.AS
- 1D
- -0.24%
- 1M
- 3.97%
- 6M
- 12.62%
- YTD
- 14.59%
- 1Y
- 31.36%
- 3Y*
- 20.92%
- 5Y*
- 18.64%
- 10Y*
- 12.10%
- ALL TIME*
- 12.50%
IAU
- 1D
- 0.01%
- 1M
- -4.62%
- 6M
- -11.25%
- YTD
- -4.48%
- 1Y
- 21.53%
- 3Y*
- 25.48%
- 5Y*
- 17.79%
- 10Y*
- 11.00%
- ALL TIME*
- 10.23%
TDIV.AS vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 14.59% | 24.39% | 15.90% | 11.75% | 15.40% | 27.83% | -10.16% | 20.97% | -7.12% | 2.88% |
IAU iShares Gold Trust | -4.48% | 44.49% | 35.22% | 9.45% | 5.53% | 3.18% | 14.73% | 20.65% | 2.85% | -0.97% |
Correlation
The correlation between TDIV.AS and IAU is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.02 |
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Return for Risk
TDIV.AS vs. IAU — Risk / Return Rank
TDIV.AS
IAU
TDIV.AS vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) 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.
| TDIV.AS | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.58 | ||
| Sortino ratioReturn per unit of downside risk | +3.64 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.17 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 8.81 | 0.91 | +7.90 |
| Martin ratioReturn relative to average drawdown | 24.98 | 2.13 | +22.84 |
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Drawdowns
TDIV.AS vs. IAU - Drawdown Comparison
The maximum TDIV.AS drawdown since its inception was -36.10%, roughly equal to the maximum IAU drawdown of -37.42%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and IAU.
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Drawdown Indicators
| TDIV.AS | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.10% | -37.42% | +1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.51% | -23.87% | +20.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -23.87% | +7.99% |
Max Drawdown (5Y)Largest decline over 5 years | -15.88% | -23.87% | +7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -36.10% | -23.87% | -12.23% |
Current DrawdownCurrent decline from peak | -0.24% | -23.13% | +22.89% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -12.16% | +8.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 10.12% | -8.87% |
Volatility
TDIV.AS vs. IAU - Volatility Comparison
The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.17%, while iShares Gold Trust (IAU) has a volatility of 5.77%. This indicates that TDIV.AS 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.
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Volatility by Period
| TDIV.AS | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 5.77% | -3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 22.37% | -15.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.11% | 26.15% | -17.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.03% | 17.01% | -3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.59% | 14.81% | -0.22% |
TDIV.AS vs. IAU - Expense Ratio Comparison
TDIV.AS has a 0.38% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
TDIV.AS vs. IAU - Dividend Comparison
TDIV.AS's dividend yield for the trailing twelve months is around 3.06%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.06% | 3.58% | 4.19% | 4.98% | 4.58% | 3.98% | 4.12% | 4.40% | 4.93% | 3.95% | 1.11% |
Frequently Asked Questions
TDIV.AS and IAU have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.38% for TDIV.AS.
TDIV.AS is categorized as Global Equity Income, while IAU is Gold. TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while IAU tracks LBMA Gold Price. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.38% for TDIV.AS and 0.25% for IAU.
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