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Data as of Oct 28, 2026.

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IAU vs QUAL: Differences, Returns & Fees

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IAU is a commodity fund and QUAL an equity index fund, and over the year to Oct 28, 2026, QUAL returned +13.1% against +2.7%.

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Net assets on Oct 28, 2026: $60.1bn for iShares Gold Trust and $48.2bn for iShares MSCI USA Quality Factor ETF.

IAU on its own →QUAL on its own →
At a glance
+2.7%
IAU total return, 1 year
+13.1%
QUAL total return, 1 year
0.25%
IAU expense ratio
0.15%
QUAL expense ratio

Pair scorecard

QUAL costs 0.10 points a year less; their one-year returns differ by 10.4 points; IAU is 1.2 times larger.

IAU vs QUAL: Differences, Returns & Fees
MeasureIAUQUAL
Return
Total return, 1 year+2.7%+13.1%
Drawdown
Below its high24.6%, high on Jan 29, 2026
Benchmark
What it tracksGoldMSCI USA Sector Neutral Quality Index
Cost and size
Expense ratio0.25%0.15%
Net assets$60.1bn$48.2bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight97%
Holdings datedOct 27, 2026
Top ten holdings, share of the fund44.5%

Method

Side by side

IAU iShares Gold Trust QUAL iShares MSCI USA Quality Factor ETF
Where it sits Commodity ETF Stock ETF
Issuer iShares iShares
What it is Holds gold Tracks the MSCI USA Quality Factor
Total return, 1 year +2.7% +13.1%
Its benchmark over the same days +2.5% (GLD) +13.6% (MLRG)
Gap to its benchmark +0.2 pts vs GLD −0.5 pts vs MLRG
Expense ratio 0.25% 0.15%
Holdings not counted 119
Net assets $60.1bn $48.2bn

IAU and QUAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
IAU

Its expense ratio is 0.25% a year, for the three months to Jun 30, 2026, as its 10-Q states.

IAU holds gold. Over the year to Oct 28, 2026 it returned +2.7% with distributions reinvested, against +2.5% for its benchmark, the price of gold. It sat 24.6% below its high of Jan 29, 2026 on Oct 28, 2026.

QUAL

QUAL tracks the MSCI USA Quality Factor. Over the year to Oct 28, 2026 it returned +13.1% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 119 positions, with the top ten at 44.5%.

Questions people ask

Which returned more over the last year, IAU or QUAL?
In the year to Oct 28, 2026, with distributions reinvested, IAU returned +2.7% and QUAL +13.1%.
Which is cheaper, IAU or QUAL?
QUAL is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
IAU vs IWBIAU vs SCHBIAU vs SCHXCGGR vs IAUQUAL vs SLVGLD vs QUALQUAL vs SIVRQUAL vs USO
Where to next
IAU on its own →QUAL on its own →Hold both: look the portfolio through →Rankings →QUAL dividend history →QUAL holdings →Standards and sources →
Sources and dates
iShares page for IAU ↗
QUAL filings on SEC EDGAR ↗
QUAL prospectus with the expense ratio (SEC) ↗
iShares page for QUAL ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, IAU against QUAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/iau-vs-qual

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