USLN vs. IAU

Last updated Jun 4, 2026

USLN (iShares Broad USD Floating Rate Loan ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - USLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan Broad Select Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. At a 0.19 correlation, their price movements are largely independent. USLN charges 0.43%/yr vs 0.25%/yr for IAU.

Performance

USLN vs. IAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Broad USD Floating Rate Loan ETF (USLN) and iShares Gold Trust (IAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USLN

• 1D: -0.03%
• 1M: 0.53%
• YTD: —
• 6M: —
• 1Y: —
• 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)

USLN vs. IAU - Yearly Performance Comparison

	2026 (YTD)
USLN iShares Broad USD Floating Rate Loan ETF	1.87%
IAU iShares Gold Trust	-13.51%

Correlation

The correlation between USLN and IAU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026	0.19

Return for Risk

USLN vs. IAU — Risk / Return Rank

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

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.

USLN vs. IAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Floating Rate Loan ETF (USLN) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USLN	IAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.23	—
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	2.99	0.62	+2.37

Drawdowns

USLN vs. IAU - Drawdown Comparison

The maximum USLN drawdown since its inception was -0.75%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for USLN and IAU.

Drawdown Indicators

	USLN	IAU	Difference
Max Drawdown Largest peak-to-trough decline	-0.75%	-45.14%	+44.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.18%	—
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	-0.06%	-17.70%	+17.64%
Average Drawdown Average peak-to-trough decline	-0.22%	-15.96%	+15.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.71%	—

Volatility

Volatility by Period

	USLN	IAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	26.42%	-23.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	17.95%	-15.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	15.90%	-13.30%

USLN vs. IAU - Expense Ratio Comparison

USLN has a 0.43% expense ratio, which is higher than IAU's 0.25% expense ratio.

Dividends

USLN vs. IAU - Dividend Comparison

USLN's dividend yield for the trailing twelve months is around 1.54%, while IAU has not paid dividends to shareholders.

Position	TTM
IAU iShares Gold Trust	0.00%
USLN iShares Broad USD Floating Rate Loan ETF	1.54%

Frequently Asked Questions

Can I hold both USLN and IAU in my portfolio?

USLN and IAU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USLN or IAU?

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.

Which ETF is cheaper, USLN or IAU?

IAU is cheaper with a 0.25% expense ratio, compared with 0.43% for USLN.

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

USLN has the higher dividend yield at 1.54%, compared with 0.00% for IAU.

What is the main difference between USLN and IAU?

USLN is categorized as Bank Loan, while IAU is Gold. USLN tracks Morningstar LSTA US Leveraged Loan Broad Select Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.43% for USLN and 0.25% for IAU.