ETF Versus

GLD vs SGOV

SPDR Gold Shares vs iShares 0-3 Month Treasury Bond ETF

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
SGOV iShares

iShares 0-3 Month Treasury Bond ETF (SGOV) is an exchange-traded fund issued by iShares that provides exposure to short-duration U.S. Treasury bonds with low interest rate risk. It charges a low expense ratio of 0.09%. The fund offers an attractive dividend yield of 3.95%. Launched in 2020, the fund has a 6-year track record.

AUM: $85.9B ER: 0.09% Yield: 3.95% Since: May 26, 2020

Quick Verdict

SGOV is significantly cheaper at 0.09% vs 0.40% expense ratio, saving you approximately $607 per $10,000 invested over 10 years. Over the past year, GLD has significantly outperformed with a 49.8% return vs 0.1%.

Key Metrics

Metric GLD SGOV
Expense Ratio 0.40% 0.09%
Dividend Yield N/A 4.0%
Fund Family SPDR iShares
Category Gold US Short-Term Treasury

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%
SGOV +0.5%

Performance Comparison

Period GLD SGOV Difference
1 Month -8.02% +0.02% -8.04%
3 Months +3.74% +0.01% +3.73%
6 Months +15.85% +0.00% +15.85%
YTD +9.98% +0.09% +9.89%
1 Year +49.83% +0.06% +49.77%
3 Years +135.15% +0.17% +134.98%
5 Years +169.92% +0.48% +169.44%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLD Fees SGOV Fees You Save
$10,000 10 years $786 $179 $607
$10,000 20 years $3,334 $771 $2,563
$10,000 30 years $10,601 $2,486 $8,115
$50,000 10 years $3,932 $896 $3,036
$50,000 30 years $53,003 $12,428 $40,575
$100,000 30 years $106,005 $24,855 $81,150

Risk Metrics

Based on 5 years of daily returns

Metric GLD SGOV
Annualized Volatility 17.8% 1.1%
Max Drawdown -21.0% -0.7%
Sharpe Ratio 0.96 -4.11

Dividend Comparison

Metric GLD SGOV
Annual Dividend (per share) $0.00 $3.97
Dividend Yield 0.00% 3.95%
Distribution Frequency None Monthly

Which One Should You Choose?

Choose SGOV if...

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

Choose GLD if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

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