VLUE vs. IAU
VLUE (iShares MSCI USA Value Factor ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, VLUE returned 15.56%/yr vs 11.76%/yr for IAU. At a 0.01 correlation, their price movements are largely independent. VLUE charges 0.15%/yr vs 0.25%/yr for IAU.
Performance
VLUE vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, VLUE achieves a 45.30% return, which is significantly higher than IAU's -4.73% return. Over the past 10 years, VLUE has outperformed IAU with an annualized return of 15.56%, while IAU has yielded a comparatively lower 11.76% annualized return.
VLUE
- 1D
- -3.46%
- 1M
- 5.59%
- YTD
- 45.30%
- 6M
- 44.72%
- 1Y
- 81.73%
- 3Y*
- 32.50%
- 5Y*
- 16.52%
- 10Y*
- 15.56%
IAU
- 1D
- -1.87%
- 1M
- -8.82%
- YTD
- -4.73%
- 6M
- -8.68%
- 1Y
- 21.45%
- 3Y*
- 28.61%
- 5Y*
- 18.02%
- 10Y*
- 11.76%
VLUE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLUE iShares MSCI USA Value Factor ETF | 45.30% | 32.67% | 7.25% | 14.26% | -14.17% | 28.93% | -0.23% | 27.20% | -11.13% | 21.95% |
IAU iShares Gold Trust | -4.73% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between VLUE and IAU is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013 | 0.01 |
Over the past year, VLUE and IAU have become more correlated (0.22) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
VLUE vs. IAU — Risk / Return Rank
VLUE
IAU
VLUE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor ETF (VLUE) 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.
| VLUE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.52 | ||
| Sortino ratioReturn per unit of downside risk | +4.23 | ||
| Omega ratioGain probability vs. loss probability | 1.73 | 1.17 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 9.09 | 0.88 | +8.21 |
| Martin ratioReturn relative to average drawdown | 38.03 | 2.37 | +35.66 |
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Drawdowns
VLUE vs. IAU - Drawdown Comparison
The maximum VLUE drawdown since its inception was -39.47%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for VLUE and IAU.
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Drawdown Indicators
| VLUE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -45.14% | +5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -24.40% | +15.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -24.40% | +6.51% |
Max Drawdown (5Y)Largest decline over 5 years | -27.12% | -24.40% | -2.72% |
Max Drawdown (10Y)Largest decline over 10 years | -39.47% | -24.40% | -15.07% |
Current DrawdownCurrent decline from peak | -3.46% | -23.87% | +20.41% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -15.97% | +9.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 9.07% | -6.91% |
Volatility
VLUE vs. IAU - Volatility Comparison
iShares MSCI USA Value Factor ETF (VLUE) has a higher volatility of 9.76% compared to iShares Gold Trust (IAU) at 8.10%. This indicates that VLUE's price experiences larger fluctuations and is considered to be riskier 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
| VLUE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.76% | 8.10% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 16.13% | 24.23% | -8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 27.38% | -8.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 18.18% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.95% | 15.98% | +3.97% |
VLUE vs. IAU - Expense Ratio Comparison
VLUE has a 0.15% expense ratio, which is lower than IAU's 0.25% 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
VLUE vs. IAU - Dividend Comparison
VLUE's dividend yield for the trailing twelve months is around 1.42%, while IAU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VLUE iShares MSCI USA Value Factor ETF | 1.42% | 2.11% | 2.73% | 2.66% | 3.18% | 2.22% | 2.42% | 2.61% | 2.70% | 2.14% | 2.07% | 2.39% |
Frequently Asked Questions
VLUE and IAU have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLUE has higher volatility (9.76%) compared to IAU (8.10%). In terms of maximum drawdown, VLUE dropped -39.47% vs IAU's -45.14%.
On 10-year performance, VLUE leads with 15.56% vs 11.76% for IAU. On fees, VLUE is cheaper at 0.15% per year. On volatility, IAU has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VLUE has performed better with a 15.56% return vs 11.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLUE is cheaper with a 0.15% expense ratio, compared with 0.25% for IAU.
VLUE has the higher dividend yield at 1.42%, compared with 0.00% for IAU.
VLUE is categorized as Large Cap Value Equities, while IAU is Gold. VLUE tracks MSCI USA Enhanced Value Index, while IAU tracks LBMA Gold Price. Their fees differ too: 0.15% for VLUE and 0.25% for IAU.
VLUE currently has the higher Sharpe Ratio (4.31 vs 0.79), 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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