ETF Versus

GLD vs IAU

SPDR Gold Shares vs iShares Gold Trust

Last updated: 2026-04-02

GLD State Street

SPDR Gold Shares (GLD) is an exchange-traded fund issued by State Street that provides exposure to gold securities. It charges an above-average expense ratio of 0.40%. Launched in 2004, the fund has a 22-year track record.

AUM: $151.9B ER: 0.40% Yield: 0.00% Since: Nov 18, 2004
IAU iShares

iShares Gold Trust (IAU) is an exchange-traded fund issued by iShares that provides exposure to gold securities. It charges a moderate expense ratio of 0.25%. Launched in 2005, the fund has a 21-year track record.

AUM: $68.7B ER: 0.25% Yield: 0.00% Since: Jan 21, 2005

Quick Verdict

IAU is significantly cheaper at 0.25% vs 0.40% expense ratio, saving you approximately $292 per $10,000 invested over 10 years. Both funds have delivered similar 1-year returns (52.3% vs 52.4%), tracking closely.

Key Metrics

Metric GLD IAU
Expense Ratio 0.40% 0.25%
Dividend Yield 0.0% 0.0%
Fund Family State Street iShares
Category Gold Gold

Performance Chart

Indexed to 100 at start (5-year comparison)

90 132 174 216 258 300 2021-04 2022-06 2023-09 2024-12 2026-04
GLD +170.4%
IAU +172.6%

Performance Comparison

Period GLD IAU Difference
1 Month -10.65% -10.66% +0.01%
3 Months +9.93% +9.96% -0.03%
6 Months +22.42% +22.48% -0.06%
YTD +9.93% +9.96% -0.03%
1 Year +52.25% +52.36% -0.11%
3 Years +137.25% +138.19% -0.94%
5 Years +170.39% +172.58% -2.19%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLD Fees IAU Fees You Save
$10.000 10 years $786 $495 $292
$10.000 20 years $3.334 $2.111 $1.223
$10.000 30 years $10.601 $6.758 $3.842
$50.000 10 years $3.932 $2.473 $1.459
$50.000 30 years $53.003 $33.792 $19.211
$100.000 30 years $106.005 $67.584 $38.421

Risk Metrics

Based on 5 years of daily returns

Metric GLD IAU
Annualized Volatility 17.8% 17.7%
Max Drawdown -21.0% -20.9%
Sharpe Ratio 0.96 0.97

Dividend Comparison

Metric GLD IAU
Annual Dividend (per share) $0.00 $0.00
Dividend Yield 0.00% 0.00%
Distribution Frequency None None

Which One Should You Choose?

Choose IAU if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Either works if...

you just need broad gold exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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