What is the fee difference between GLD and SPY?

GLD charges 0.40% a year and SPY charges 0.09%. On $10,000 invested that is about $40 for GLD and $9 for SPY, a gap of $31 a year. Physically backed gold trusts cost more to run than stock index funds because of vaulting and insurance, which is reflected in the higher fee.

What do GLD and SPY hold?

GLD holds physical gold bullion in vaults and tracks the LBMA Gold Price; it owns no stocks or bonds. SPY tracks the S&P 500 and holds 505 US large-cap stocks, led by NVIDIA at 8.07%, Apple at 7.51% and Microsoft at 5.61%. The two funds represent entirely different asset classes.

Do GLD and SPY overlap in holdings?

No. GLD holds only gold and SPY holds only stocks, so there is zero overlap. This is precisely why some investors pair them: gold has often moved independently of equities, so adding GLD to an SPY-based portfolio can reduce how much the whole portfolio swings during stock market stress.

How do dividends compare?

SPY yields 0.99%, paid from dividends collected from its 505 holdings, or roughly $99 a year per $10,000 before taxes. GLD pays nothing because gold produces no cash flow. Over long periods, reinvested dividends have formed a meaningful part of equity returns, which is a structural advantage stocks have over bullion.

Which fund suits which investor?

SPY suits investors seeking long-term growth from US companies and willing to accept equity market volatility. GLD suits investors who want a store of value that does not depend on corporate earnings, often as a smaller allocation alongside stocks. The two serve different purposes rather than competing for the same role.

How do GLD and SPY compare on size and liquidity?

SPY is the larger fund with $785.05 billion in net assets versus $147.75 billion for GLD. Both are among the most heavily traded exchange-traded products in the world, so retail investors can buy or sell either in normal quantities without difficulty. Both are sponsored by State Street.

Is gold or the S&P 500 riskier?

They carry different risks. SPY is exposed to corporate earnings, recessions and market sentiment, and can fall sharply in downturns. GLD depends on the gold price, which responds to real interest rates, currency moves and demand for safe assets, and can also fall for long stretches. Neither is risk-free.

How are GLD and SPY taxed differently?

In many jurisdictions, physically backed gold trusts like GLD are taxed differently from equity ETFs like SPY, sometimes as collectibles with a different rate on gains. SPY's dividends may also be taxable each year. Account type and country rules matter a lot here, so consult a tax adviser before deciding.

Can I hold both GLD and SPY?

Yes, and this is a common pairing. SPY provides equity growth and dividend income while GLD adds an asset that has often moved independently of stocks. Many investors keep gold to a modest slice of the portfolio, using it as a diversifier rather than a core holding. The exact split depends on your goals and risk tolerance.

GLD vs SPY

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

SPDR Gold Shares (GLD) holds physical gold and tracks the LBMA Gold Price for 0.40% a year, while State Street SPDR S&P 500 ETF (SPY) holds 505 US large-cap stocks for 0.09% and yields 0.99%. GLD pays no income; SPY pays dividends from companies like NVIDIA and Apple. GLD suits investors seeking a store of value outside stocks; SPY suits those who want equity growth. Educational content, not financial advice.

SPDR Gold Shares (GLD) holds physical gold and tracks the LBMA Gold Price for 0.40% a year, while State Street SPDR S&P 500 ETF (SPY) holds 505 US large-cap stocks for 0.09% and yields 0.99%. GLD pays...

Fund Snapshot

Key Fund Metrics

GLD

Metric

SPY

0.40%

Expense Ratio

0.09%

–

Dividend Yield

0.99%

$147.75B

Net Assets

$785.05B

–

Holdings

505

Nov 18, 2004

Inception Date

Jan 22, 1993

LBMA Gold Price

Index Tracked

S&P 500

Commodities Focused

Fund Category

Large Blend

SPY costs about $31.00 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 ETFs Rally Past $4,000 as Democratic Midterm Sweep Weakens Dollar and Yields

Gold jumped more than $100 intraday to move back above $4,000 an ounce after Democrats won control of both chambers of Congress, sending the dollar and Treasury yields lower.
The precious metal had previously fallen more than $120 an ounce on Oct. 30, breaking below $4,000, but has since recovered key support levels amid renewed buying interest in commodities.
While the rally is strong, analysts warn that rising real yields and resilient U.S. economic data, including a service sector expansion in October, could limit further gains ahead of upcoming jobs reports.

Sentiment:

🐃Bullish

Gold ETFs Rally Past $4,000 as Democratic Midterm Sweep Weakens Dollar and Yields

Gold jumped more than $100 intraday to move back above $4,000 an ounce after Democrats won control of both chambers of Congress, sending the dollar and Treasury yields lower.
The precious metal had previously fallen more than $120 an ounce on Oct. 30, breaking below $4,000, but has since recovered key support levels amid renewed buying interest in commodities.
While the rally is strong, analysts warn that rising real yields and resilient U.S. economic data, including a service sector expansion in October, could limit further gains ahead of upcoming jobs reports.

Sentiment:

🐃Bullish

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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

Direct exposure to physical gold, an asset that often behaves differently from stocks
Largest gold trust with $147.75 billion in net assets
No company earnings risk, since the trust holds only bullion

Considerations

Expense ratio of 0.40% is more than four times SPY's 0.09%
Pays no dividends or interest, so returns depend entirely on the gold price
Costs $40 a year per $10,000 invested versus $9 for SPY

SPY

Pros

Broad exposure to 505 US large-cap stocks through the S&P 500
Dividend yield of 0.99% provides income that GLD cannot
Largest and oldest US-listed ETF, trading since January 1993 with $785.05 billion

Considerations

Top ten holdings such as NVIDIA and Apple make up about 38% of the fund
Fully exposed to stock market drawdowns and corporate earnings cycles
Fee of 0.09% is higher than some competing S&P 500 funds

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