ETF Versus

GLD vs GLDM

SPDR Gold Shares vs SPDR Gold MiniShares

Last updated: 2026-04-10

GLD SPDR

SPDR Gold Shares (GLD) is an exchange-traded fund issued by SPDR 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: $162.2B ER: 0.40% Yield: N/A Since: Nov 18, 2004
GLDM SPDR

SPDR Gold MiniShares (GLDM) is an exchange-traded fund issued by SPDR 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: $31.3B ER: 0.10% Yield: N/A Since: Jun 25, 2018

Quick Verdict

GLDM is significantly cheaper at 0.10% vs 0.40% expense ratio, saving you approximately $587 per $10,000 invested over 10 years. Both funds have delivered similar 1-year returns (49.8% vs 50.3%), tracking closely.

Key Metrics

Metric GLD GLDM
Expense Ratio 0.40% 0.10%
Dividend Yield N/A N/A
Fund Family SPDR SPDR
Category Gold Gold

Performance Chart

Indexed to 100 at start (5-year comparison)

90 134 178 222 266 310 2021-04 2022-07 2023-10 2025-01 2026-04
GLD +169.9%
GLDM +173.7%

Performance Comparison

Period GLD GLDM Difference
1 Month -8.02% -8.03% +0.01%
3 Months +3.74% +3.80% -0.06%
6 Months +15.85% +15.97% -0.12%
YTD +9.98% +10.05% -0.07%
1 Year +49.83% +50.25% -0.42%
3 Years +135.15% +137.19% -2.04%
5 Years +169.92% +173.65% -3.73%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLD Fees GLDM Fees You Save
$10,000 10 years $786 $199 $587
$10,000 20 years $3,334 $856 $2,478
$10,000 30 years $10,601 $2,758 $7,843
$50,000 10 years $3,932 $995 $2,937
$50,000 30 years $53,003 $13,790 $39,213
$100,000 30 years $106,005 $27,580 $78,426

Risk Metrics

Based on 5 years of daily returns

Metric GLD GLDM
Annualized Volatility 17.8% 17.7%
Max Drawdown -21.0% -20.9%
Sharpe Ratio 0.96 0.98

Dividend Comparison

Metric GLD GLDM
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.

Related Comparisons

AGG vs GLD BIL vs GLD BIL vs GLDM BND vs GLD BNDX vs GLD EFA vs GLD GLD vs IAU GLD vs IBIT