Head-to-head over the 11-year window both funds have in common (2015-07-27 → 2026-07-24): GLD (SPDR Gold Shares) vs IAU (iShares Gold Trust) — total return with dividends reinvested, both starting at $10,000 on the same date.
On risk-adjusted return, IAU came out ahead of GLD —
but the gap is only half the story. Drawdown and yield often matter more.
GLD vs IAU — the numbers
| Metric | GLD | IAU |
|---|---|---|
| CAGR | 12.2% | 12.4% |
| Volatility | 16.2% | 16.1% |
| Sharpe | 0.80 | 0.81 |
| Sortino | 1.06 | 1.08 |
| Max drawdown | -26.4% | -26.4% |
| Dividend yield | 0.00% | 0.00% |
| $10k → today | $35,466 | $36,026 |
Compared over the exact period both funds existed, so the window is shorter than 10 years when one fund is newer. Past performance doesn't predict the future — try your own dates in the tool.