XLRE vs. IAU
XLRE (Real Estate Select Sector SPDR Fund) and IAU (iShares Gold Trust) are both exchange-traded funds - XLRE is a REIT fund tracking the Real Estate Select Sector Index, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, XLRE returned 7.15%/yr vs 12.31%/yr for IAU. At a 0.12 correlation, their price movements are largely independent. XLRE charges 0.13%/yr vs 0.25%/yr for IAU.
Performance
XLRE vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, XLRE achieves a 13.17% return, which is significantly higher than IAU's -2.44% return. Over the past 10 years, XLRE has underperformed IAU with an annualized return of 7.15%, while IAU has yielded a comparatively higher 12.31% annualized return.
XLRE
- 1D
- 0.98%
- 1M
- 3.30%
- YTD
- 13.17%
- 6M
- 13.29%
- 1Y
- 12.05%
- 3Y*
- 10.41%
- 5Y*
- 3.32%
- 10Y*
- 7.15%
IAU
- 1D
- 0.08%
- 1M
- -9.54%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
XLRE vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLRE Real Estate Select Sector SPDR Fund | 13.17% | 2.63% | 5.09% | 12.36% | -26.25% | 46.10% | -2.18% | 28.68% | -2.39% | 10.69% |
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between XLRE and IAU is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2015 | 0.12 |
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Return for Risk
XLRE vs. IAU — Risk / Return Rank
XLRE
IAU
XLRE vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Real Estate Select Sector SPDR Fund (XLRE) 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.
| XLRE | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.19 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 0.99 | +0.36 |
| Martin ratioReturn relative to average drawdown | 3.69 | 2.83 | +0.86 |
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Drawdowns
XLRE vs. IAU - Drawdown Comparison
The maximum XLRE drawdown since its inception was -38.83%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for XLRE and IAU.
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Drawdown Indicators
| XLRE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -45.14% | +6.31% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -24.40% | +16.07% |
Max Drawdown (3Y)Largest decline over 3 years | -16.74% | -24.40% | +7.66% |
Max Drawdown (5Y)Largest decline over 5 years | -34.12% | -24.40% | -9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | -24.40% | -14.43% |
Current DrawdownCurrent decline from peak | 0.00% | -22.03% | +22.03% |
Average DrawdownAverage peak-to-trough decline | -9.58% | -15.97% | +6.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 8.47% | -5.44% |
Volatility
XLRE vs. IAU - Volatility Comparison
The current volatility for Real Estate Select Sector SPDR Fund (XLRE) is 4.81%, while iShares Gold Trust (IAU) has a volatility of 7.70%. This indicates that XLRE experiences smaller price fluctuations and is considered to be less risky 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
| XLRE | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 7.70% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.20% | 23.94% | -13.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.83% | 27.17% | -13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 18.16% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 16.02% | +4.40% |
XLRE vs. IAU - Expense Ratio Comparison
XLRE has a 0.13% 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
XLRE vs. IAU - Dividend Comparison
XLRE's dividend yield for the trailing twelve months is around 3.08%, 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% |
XLRE Real Estate Select Sector SPDR Fund | 3.08% | 3.45% | 3.43% | 3.31% | 3.70% | 2.61% | 3.15% | 3.06% | 3.78% | 3.25% | 4.22% | 1.09% |
Frequently Asked Questions
XLRE and IAU have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (7.70%) compared to XLRE (4.81%). In terms of maximum drawdown, XLRE dropped -38.83% vs IAU's -45.14%.
On 10-year performance, IAU leads with 12.31% vs 7.15% for XLRE. On fees, XLRE is cheaper at 0.13% per year. On volatility, XLRE has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAU has performed better with a 12.31% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLRE is cheaper with a 0.13% expense ratio, compared with 0.25% for IAU.
XLRE has the higher dividend yield at 3.08%, compared with 0.00% for IAU.
XLRE is categorized as REIT, while IAU is Gold. XLRE tracks Real Estate Select Sector Index, while IAU tracks LBMA Gold Price. They also come from different issuers: State Street and iShares. Their fees differ too: 0.13% for XLRE and 0.25% for IAU.
IAU currently has the higher Sharpe Ratio (0.89 vs 0.81), 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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