ETF Versus

GLDM vs IAU

SPDR Gold MiniShares vs iShares Gold Trust

Last updated: 2026-04-10

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
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

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 (50.3% vs 50.0%), tracking closely.

Key Metrics

Metric GLDM IAU
Expense Ratio 0.10% 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
GLDM +173.7%
IAU +171.9%

Performance Comparison

Period GLDM IAU Difference
1 Month -8.03% -8.01% -0.02%
3 Months +3.80% +3.75% +0.05%
6 Months +15.97% +15.89% +0.08%
YTD +10.05% +10.02% +0.03%
1 Year +50.25% +50.03% +0.22%
3 Years +137.19% +136.21% +0.98%
5 Years +173.65% +171.92% +1.73%

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 17.7% 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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