XAR vs. IAUM
XAR (SPDR S&P Aerospace & Defense ETF) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - XAR is a Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, XAR returned 33.32%/yr vs 29.28%/yr for IAUM. At a 0.17 correlation, their price movements are largely independent. XAR charges 0.35%/yr vs 0.09%/yr for IAUM.
Performance
XAR vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, XAR achieves a 16.10% return, which is significantly higher than IAUM's -2.40% return.
XAR
- 1D
- -1.55%
- 1M
- 7.38%
- YTD
- 16.10%
- 6M
- 18.39%
- 1Y
- 42.07%
- 3Y*
- 33.32%
- 5Y*
- 16.58%
- 10Y*
- 18.45%
IAUM
- 1D
- 0.10%
- 1M
- -7.37%
- YTD
- -2.40%
- 6M
- -2.08%
- 1Y
- 22.55%
- 3Y*
- 29.28%
- 5Y*
- —
- 10Y*
- —
XAR vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XAR SPDR S&P Aerospace & Defense ETF | 16.10% | 46.15% | 23.32% | 23.79% | -5.02% | -13.06% |
IAUM iShares Gold Trust Micro | -2.40% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between XAR and IAUM is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.17 |
The correlation between XAR and IAUM shifts across timeframes, from 0.17 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XAR vs. IAUM — Risk / Return Rank
XAR
IAUM
XAR vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) 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.
| XAR | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.00 | +1.43 |
| Martin ratioReturn relative to average drawdown | 6.81 | 2.87 | +3.94 |
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Drawdowns
XAR vs. IAUM - Drawdown Comparison
The maximum XAR drawdown since its inception was -46.37%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for XAR and IAUM.
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Drawdown Indicators
| XAR | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -24.37% | -22.00% |
Max Drawdown (1Y)Largest decline over 1 year | -17.22% | -24.37% | +7.15% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | -24.37% | +4.64% |
Max Drawdown (5Y)Largest decline over 5 years | -32.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | — | — |
Current DrawdownCurrent decline from peak | -4.32% | -21.99% | +17.67% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -5.38% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 8.46% | -2.33% |
Volatility
XAR vs. IAUM - Volatility Comparison
SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 11.46% compared to iShares Gold Trust Micro (IAUM) at 7.71%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAR | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.46% | 7.71% | +3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 23.56% | 23.82% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.85% | 27.06% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 18.05% | +5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.74% | 18.05% | +6.69% |
XAR vs. IAUM - Expense Ratio Comparison
XAR has a 0.35% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
XAR vs. IAUM - Dividend Comparison
XAR's dividend yield for the trailing twelve months is around 0.31%, 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% |
XAR SPDR S&P Aerospace & Defense ETF | 0.31% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Frequently Asked Questions
XAR and IAUM have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XAR has higher volatility (11.46%) compared to IAUM (7.71%). In terms of maximum drawdown, XAR dropped -46.37% vs IAUM's -24.37%.
On 3-year performance, XAR leads with 33.32% vs 29.28% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 7.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XAR has performed better with a 33.32% return vs 29.28%. 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 0.35% for XAR.
XAR has the higher dividend yield at 0.31%, compared with 0.00% for IAUM.
XAR is categorized as Aerospace & Defense, while IAUM is Gold. XAR tracks S&P Aerospace & Defense Select Industry Index, while IAUM tracks LBMA Gold Price PM. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for XAR and 0.09% for IAUM.
XAR currently has the higher Sharpe Ratio (1.50 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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