ETF Versus

GLDM vs IAU

SPDR Gold MiniShares vs iShares Gold Trust

Last updated: 2026-04-02

GLDM

SPDR Gold MiniShares (GLDM) is an exchange-traded fund that provides exposure to gold securities. It charges a low expense ratio of 0.10%. Launched in 2018, the fund has a 8-year track record.

AUM: $29.1B ER: 0.10% Yield: N/A Since: Jun 25, 2018
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

GLDM is significantly cheaper at 0.10% vs 0.25% expense ratio, saving you approximately $296 per $10,000 invested over 10 years. Both funds have delivered similar 1-year returns (52.6% vs 52.4%), tracking closely.

Key Metrics

Metric GLDM IAU
Expense Ratio 0.10% 0.25%
Dividend Yield N/A 0.0%
Fund Family N/A 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
GLDM +174.1%
IAU +172.6%

Performance Comparison

Period GLDM IAU Difference
1 Month -10.65% -10.66% +0.01%
3 Months +9.98% +9.96% +0.02%
6 Months +22.59% +22.48% +0.11%
YTD +9.98% +9.96% +0.02%
1 Year +52.61% +52.36% +0.25%
3 Years +139.28% +138.19% +1.09%
5 Years +174.13% +172.58% +1.55%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLDM Fees IAU Fees You Save
$10.000 10 years $199 $495 $296
$10.000 20 years $856 $2.111 $1.255
$10.000 30 years $2.758 $6.758 $4.000
$50.000 10 years $995 $2.473 $1.478
$50.000 30 years $13.790 $33.792 $20.002
$100.000 30 years $27.580 $67.584 $40.004

Risk Metrics

Based on 5 years of daily returns

Metric GLDM IAU
Annualized Volatility 17.6% 17.7%
Max Drawdown -20.9% -20.9%
Sharpe Ratio 0.98 0.97

Dividend Comparison

Metric GLDM 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 GLDM 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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