VAW vs. IAUM
VAW (Vanguard Materials ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - VAW is a Materials fund tracking the MSCI US Investable Market Materials 25/50 Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, VAW returned 11.43%/yr vs 29.28%/yr for IAUM. At a 0.27 correlation, their price movements are largely independent. VAW charges 0.10%/yr vs 0.09%/yr for IAUM.
Performance
VAW vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, VAW achieves a 13.71% return, which is significantly higher than IAUM's -2.40% return.
VAW
- 1D
- 1.79%
- 1M
- 0.56%
- YTD
- 13.71%
- 6M
- 14.42%
- 1Y
- 23.97%
- 3Y*
- 11.43%
- 5Y*
- 6.23%
- 10Y*
- 10.56%
IAUM
- 1D
- 0.10%
- 1M
- -9.51%
- YTD
- -2.40%
- 6M
- -2.08%
- 1Y
- 22.55%
- 3Y*
- 29.28%
- 5Y*
- —
- 10Y*
- —
VAW vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VAW Vanguard Materials ETF | 13.71% | 12.30% | 0.48% | 13.67% | -11.80% | 10.33% |
IAUM iShares Gold Trust Micro | -2.40% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between VAW and IAUM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.27 |
The correlation between VAW and IAUM shifts across timeframes, from 0.27 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VAW vs. IAUM — Risk / Return Rank
VAW
IAUM
VAW vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials ETF (VAW) 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.
| VAW | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.00 | +0.66 |
| Martin ratioReturn relative to average drawdown | 5.30 | 2.87 | +2.43 |
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Drawdowns
VAW vs. IAUM - Drawdown Comparison
The maximum VAW drawdown since its inception was -62.17%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for VAW and IAUM.
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Drawdown Indicators
| VAW | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.17% | -24.37% | -37.80% |
Max Drawdown (1Y)Largest decline over 1 year | -13.42% | -24.37% | +10.95% |
Max Drawdown (3Y)Largest decline over 3 years | -23.21% | -24.37% | +1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -25.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.13% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -21.99% | +18.66% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -5.38% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 8.46% | -4.26% |
Volatility
VAW vs. IAUM - Volatility Comparison
Vanguard Materials ETF (VAW) and iShares Gold Trust Micro (IAUM) have volatilities of 7.64% and 7.71%, 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
| VAW | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.64% | 7.71% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.81% | 23.82% | -9.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.45% | 27.06% | -8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.76% | 18.05% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.26% | 18.05% | +3.21% |
VAW vs. IAUM - Expense Ratio Comparison
VAW has a 0.10% 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
VAW vs. IAUM - Dividend Comparison
VAW's dividend yield for the trailing twelve months is around 1.36%, 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% |
VAW Vanguard Materials ETF | 1.36% | 1.55% | 1.70% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% |
Frequently Asked Questions
VAW and IAUM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAUM has higher volatility (7.71%) compared to VAW (7.64%). In terms of maximum drawdown, VAW dropped -62.17% vs IAUM's -24.37%.
On 3-year performance, IAUM leads with 29.28% vs 11.43% for VAW. On fees, IAUM is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IAUM has performed better with a 29.28% return vs 11.43%. 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 0.10% for VAW.
VAW has the higher dividend yield at 1.36%, compared with 0.00% for IAUM.
VAW is categorized as Materials, while IAUM is Gold. VAW tracks MSCI US Investable Market Materials 25/50 Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAW and 0.09% for IAUM.
VAW currently has the higher Sharpe Ratio (1.21 vs 0.90), 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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