What is the fee difference between GLD and IAU?

GLD charges an expense ratio of 0.40% a year, while IAU charges 0.25%. On a $10,000 position that is about $40 a year for GLD and $25 for IAU, a gap of $15 annually. Because both trusts hold the same metal, the fee is the clearest measurable difference between them over long holding periods.

What do GLD and IAU actually hold?

Both are grantor trusts that hold physical gold bullion in vaults and track the LBMA Gold Price. Neither holds stocks, bonds or gold-mining companies. Each share represents a fractional interest in the gold owned by the trust, so the share price is designed to move with the spot gold price minus the accrued expense ratio.

Do GLD and IAU overlap in holdings?

Yes, completely in practical terms. Both hold allocated physical gold and nothing else, so there is no list of top stock holdings to compare. Owning both gives you the same gold exposure twice, just split across two trusts with different fee levels and different sponsors, State Street for GLD and BlackRock for IAU.

Do GLD or IAU pay dividends?

No. Gold produces no cash flow, so neither GLD nor IAU pays dividends or interest. Any return comes only from changes in the gold price. The expense ratio is deducted from the gold held by the trust, which means the amount of gold backing each share falls slowly over time, by 0.40% a year for GLD and 0.25% for IAU.

Which fund suits which investor?

IAU's lower 0.25% fee tends to suit buy-and-hold investors who plan to keep a gold allocation for years, because the saving compounds. GLD, at $147.75 billion in assets, is the larger and older trust and is often favored by active traders. For most long-term retail investors, the lower ongoing cost is the more relevant factor.

How do GLD and IAU compare on size and liquidity?

GLD is the larger trust with $147.75 billion in net assets, compared with $64.93 billion for IAU. Both are among the largest commodity trusts listed in the US, so retail investors are unlikely to have trouble buying or selling normal quantities of either. Size matters more for very large or very frequent trades.

How are gold trusts like GLD and IAU taxed?

Tax treatment depends on where you live and the account type you use. In some jurisdictions, physically backed gold trusts are treated differently from ordinary equity ETFs, sometimes as collectibles. Holding them inside a tax-advantaged account may change the outcome. Check the trust's tax documentation and speak to a qualified tax adviser for your situation.

Can I hold both GLD and IAU?

You can, but there is little reason to. Both track the LBMA Gold Price with physical bullion, so holding both does not add diversification. Some investors keep an older GLD position to avoid realizing a gain and direct new money to IAU for the lower fee. Otherwise, choosing one trust keeps the portfolio simpler.

How closely do GLD and IAU track the gold price?

Each trust is designed to reflect the LBMA Gold Price less its expenses. Over time the share price is expected to lag spot gold by roughly the expense ratio, 0.40% a year for GLD and 0.25% for IAU. Small daily gaps can also appear because the shares trade on an exchange while the reference price is set in London.

GLD vs IAU

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) both hold physical gold bullion and track the LBMA Gold Price. GLD charges 0.40% a year and holds $147.75 billion in assets, while IAU charges 0.25% on $64.93 billion. GLD suits traders who value the largest gold trust; IAU suits long-term holders who want the lower fee. Educational content, not financial advice.

SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) both hold physical gold bullion and track the LBMA Gold Price. GLD charges 0.40% a year and holds $147.75 billion in assets, while IAU charges 0.25%...

Fund Snapshot

Key Fund Metrics

GLD

Metric

IAU

0.40%

Expense Ratio

0.25%

–

Dividend Yield

–

$147.75B

Net Assets

$64.93B

–

Holdings

–

Nov 18, 2004

Inception Date

Jan 21, 2005

LBMA Gold Price

Index Tracked

LBMA Gold Price

Commodities Focused

Fund Category

Commodities Focused

IAU costs about $15.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

Why It’s Moving

Gold ETF GLD Faces Pressure as Hawkish Fed Signals and Strong Dollar Test Critical Support

Hawkish monetary policy expectations and a rally in the U.S. dollar drove spot gold below $4,300 an ounce, directly impacting GLD's performance as investors repriced rate hike bets.
Stronger-than-expected September flash S&P Composite PMI data at 58.4 signaled robust services sector activity, reducing immediate safe-haven demand and pressuring precious metals.
Despite near-term volatility, institutional forecasts highlight limited downside risk with TD Securities projecting a move above $5,000 and Goldman Sachs citing undisclosed sovereign buying, particularly from China, as a key long-term driver.

Sentiment:

🐻Bearish

Gold ETF GLD Faces Pressure as Hawkish Fed Signals and Strong Dollar Test Critical Support

Hawkish monetary policy expectations and a rally in the U.S. dollar drove spot gold below $4,300 an ounce, directly impacting GLD's performance as investors repriced rate hike bets.
Stronger-than-expected September flash S&P Composite PMI data at 58.4 signaled robust services sector activity, reducing immediate safe-haven demand and pressuring precious metals.
Despite near-term volatility, institutional forecasts highlight limited downside risk with TD Securities projecting a move above $5,000 and Goldman Sachs citing undisclosed sovereign buying, particularly from China, as a key long-term driver.

Sentiment:

🐻Bearish

Discover More Comparisons

GLD vs IAUM

Compare GLD and IAUM gold ETFs on fees, net assets, dividend yields and holdings. GLD has a 0.40% expense ratio, IAUM 0.09%. Index tracking not available.

GLD vs GLDM

GLD vs GLDM compared: both hold physical gold, but GLD charges 0.40% and GLDM 0.10%. Size, history, tracking and which gold trust fits your goals.

GLD vs SGDM

Compare GLD and SGDM. Review expense ratios, net assets, and dividend yields. Analyse holdings to understand tracking differences for informed investment.

Investment Analysis

GLD

Pros

Largest gold trust in this comparison with $147.75 billion in net assets
Tracks the LBMA Gold Price with physical bullion held in vaults
Trading since November 2004, giving it one of the longest gold trust track records

Considerations

Expense ratio of 0.40% is higher than IAU's 0.25% for the same exposure
Costs $40 a year per $10,000 invested, $15 more than IAU
Pays no dividends, so the annual fee is a direct drag on returns

IAU

Pros

Lower expense ratio of 0.25%, or $25 a year per $10,000 invested
Tracks the same LBMA Gold Price as GLD using physical gold
Large trust at $64.93 billion, more than enough size for retail investors

Considerations

Smaller than GLD, with $64.93 billion in assets versus $147.75 billion
Provides no income because gold trusts pay no dividends or interest
The fee still compounds over decades even though it is lower than GLD's

Related Market Insights

The New Gold Rush: Fed Probe Sparks Flight to Safety

A criminal probe into the Fed Chair has sent gold prices soaring to record highs. Discover how Nemo's Gold Rush Neme helps investors gain exposure to this ultimate safe haven asset.

Aimee Silverwood | Financial Analyst

13 January 2026

Read Insight

Related Market Insights

The New Gold Rush: Fed Probe Sparks Flight to Safety

A criminal probe into the Fed Chair has sent gold prices soaring to record highs. Discover how Nemo's Gold Rush Neme helps investors gain exposure to this ultimate safe haven asset.

Aimee Silverwood | Financial Analyst

13 January 2026

Read Insight

About GLD and IAU

GLD (GLD)

SPDR Gold Shares (ticker GLD) is a large, liquid exchange-traded fund that aims to reflect the price of gold bullion. It holds allocated physical gold stored in secure vaults and offers investors an efficient way to gain exposure to the gold price without owning metal directly. With a market capitalisation around $51.72 billion, GLD is commonly used for portfolio diversification, inflation hedging and as a store of value during market stress. The fund does not pay dividends; returns depend on changes in the gold price less management fees and operating costs. Investors should be aware of price volatility, potential tracking differences and jurisdictional tax rules that can differ from equities. GLD may suit investors seeking straightforward commodity exposure within brokerage accounts, but it is not appropriate for those seeking income. This summary is educational only and not personalised investment advice — consider your objectives and risk tolerance and seek professional guidance if needed.

IAU (IAU)

Which Baskets Do They Appear In?

Gold Rush: Could Fed Probe Drive Safe Haven Demand?

An unprecedented criminal probe into the Federal Reserve Chair has sparked a flight to safety, driving gold prices to record highs. This theme focuses on gold miners and related companies that stand to benefit from sustained demand for this safe-haven asset.

Published: 13 January 2026

Explore Basket

Which Baskets Do They Appear In?

Gold Rush: Could Fed Probe Drive Safe Haven Demand?

An unprecedented criminal probe into the Federal Reserve Chair has sparked a flight to safety, driving gold prices to record highs. This theme focuses on gold miners and related companies that stand to benefit from sustained demand for this safe-haven asset.

Published: 13 January 2026

Explore Basket

GLD vs IAU

Fund Snapshot

Why It’s Moving

Gold ETF GLD Faces Pressure as Hawkish Fed Signals and Strong Dollar Test Critical Support

Gold ETF GLD Faces Pressure as Hawkish Fed Signals and Strong Dollar Test Critical Support