VBR vs. IAUM

Last updated Jun 7, 2026

VBR (Vanguard Small-Cap Value ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, VBR returned 15.91%/yr vs 29.97%/yr for IAUM. At a 0.13 correlation, their price movements are largely independent. VBR charges 0.05%/yr vs 0.09%/yr for IAUM.

Performance

VBR vs. IAUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value ETF (VBR) and iShares Gold Trust Micro (IAUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBR achieves a 11.27% return, which is significantly higher than IAUM's 0.07% return.

VBR

• 1D: -1.10%
• 1M: 0.32%
• YTD: 11.27%
• 6M: 11.31%
• 1Y: 24.65%
• 3Y*: 15.91%
• 5Y*: 7.88%
• 10Y*: 10.33%

IAUM

• 1D: -3.63%
• 1M: -8.60%
• YTD: 0.07%
• 6M: 2.72%
• 1Y: 30.28%
• 3Y*: 29.97%
• 5Y*: —
• 10Y*: —

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

VBR vs. IAUM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VBR Vanguard Small-Cap Value ETF	11.27%	9.09%	12.40%	16.00%	-9.38%	4.56%
IAUM iShares Gold Trust Micro	0.07%	64.27%	27.04%	13.12%	-0.49%	3.87%

Correlation

The correlation between VBR and IAUM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.13

VBR vs. IAUM - Sectors Allocation Comparison

Sectors	VBR	IAUM
Industrials	18.1%	-
Financial Services	17.6%	-
Consumer Cyclical	12.4%	-
Technology	10.6%	-
Real Estate	10.1%	100.0%
Healthcare	7.9%	-
Basic Materials	6.3%	-
Energy	5.2%	-
Utilities	4.8%	-
Consumer Defensive	4.0%	-
Communication Services	2.5%	-

Return for Risk

VBR vs. IAUM — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 55
VBR Sharpe Ratio Rank: 51
VBR Sortino Ratio Rank: 53
VBR Omega Ratio Rank: 49
VBR Calmar Ratio Rank: 61
VBR Martin Ratio Rank: 60

IAUM

IAUM Risk / Return Rank: 30
IAUM Sharpe Ratio Rank: 31
IAUM Sortino Ratio Rank: 28
IAUM Omega Ratio Rank: 33
IAUM Calmar Ratio Rank: 30
IAUM Martin Ratio Rank: 27

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.

VBR vs. IAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) 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.

	VBR	IAUM	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.08	+0.65
Sortino ratio: Return per unit of downside risk	2.54	1.46	+1.08
Omega ratio: Gain probability vs. loss probability	1.30	1.22	+0.08
Calmar ratio: Return relative to maximum drawdown	2.97	1.44	+1.53
Martin ratio: Return relative to average drawdown	10.46	3.64	+6.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBR vs. IAUM - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.73, which is higher than the IAUM Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of VBR and IAUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBR	IAUM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.08	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.11	-0.70

Drawdowns

VBR vs. IAUM - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than IAUM's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for VBR and IAUM.

Drawdown Indicators

	VBR	IAUM	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-20.87%	-41.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-20.02%	+11.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.19%	-20.02%	-4.17%
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.28%	—	—
Current Drawdown Current decline from peak	-1.10%	-20.02%	+18.92%
Average Drawdown Average peak-to-trough decline	-8.27%	-5.32%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	7.88%	-5.37%

Volatility

VBR vs. IAUM - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 3.86%, while iShares Gold Trust Micro (IAUM) has a volatility of 5.63%. This indicates that VBR 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.

Volatility by Period

	VBR	IAUM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	5.63%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	23.20%	-12.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	26.56%	-11.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	17.93%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.73%	17.93%	+3.80%

VBR vs. IAUM - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than IAUM's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VBR vs. IAUM - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.77%, 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%
VBR Vanguard Small-Cap Value ETF	1.77%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both VBR and IAUM in my portfolio?

VBR and IAUM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBR or IAUM?

IAUM has higher volatility (5.63%) compared to VBR (3.86%). In terms of maximum drawdown, VBR dropped -61.98% vs IAUM's -20.87%.

Which ETF is better, VBR or IAUM?

On 3-year performance, IAUM leads with 29.97% vs 15.91% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBR or IAUM?

Over the 3-year period, IAUM has performed better with a 29.97% return vs 15.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBR or IAUM?

VBR is cheaper with a 0.05% expense ratio, compared with 0.09% for IAUM.

Which ETF pays a higher dividend yield, VBR or IAUM?

VBR has the higher dividend yield at 1.77%, compared with 0.00% for IAUM.

What is the main difference between VBR and IAUM?

VBR is categorized as Small Cap Value Equities, while IAUM is Gold. VBR tracks CRSP US Small Cap Value Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VBR and 0.09% for IAUM.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.73 vs 1.08), 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.