ETF Versus

GLD vs IAU

SPDR Gold Shares vs iShares Gold Trust

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
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: $73.9B ER: 0.25% Yield: N/A 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 (49.8% vs 50.0%), tracking closely.

Key Metrics

Metric GLD IAU
Expense Ratio 0.40% 0.25%
Dividend Yield N/A N/A
Fund Family SPDR iShares
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%
IAU +171.9%

Performance Comparison

Period GLD IAU Difference
1 Month -8.02% -8.01% -0.01%
3 Months +3.74% +3.75% -0.01%
6 Months +15.85% +15.89% -0.04%
YTD +9.98% +10.02% -0.04%
1 Year +49.83% +50.03% -0.20%
3 Years +135.15% +136.21% -1.06%
5 Years +169.92% +171.92% -2.00%

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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