What is the fee difference between GLD and VOO?

GLD has an expense ratio of 0.40% and VOO 0.03%, a gap of 0.37 percentage points. On $10,000 invested that is about $40 a year for GLD against roughly $3 for VOO. Gold trusts cost more than broad equity index funds because storing and insuring bullion carries real costs, but the gap is still large.

What does each fund hold?

GLD holds physical gold bullion in vaults; each share represents a fractional interest in that gold, and its price tracks the LBMA Gold Price minus expenses. It holds no stocks. VOO tracks the S&P 500 and holds its 516 stocks in the S&P 500, weighted by market value, led by NVIDIA, Apple and Microsoft. One is a commodity trust, the other an equity index fund.

Do GLD and VOO overlap at all?

No. GLD owns gold and nothing else; VOO owns US company shares and no gold. There is no shared holding. That lack of overlap is exactly why some investors pair them: the two assets respond to different forces and have historically moved independently much of the time.

Which fund pays a dividend?

Only VOO. Its dividend yield is 1.04%, passed through from the companies it holds. GLD pays nothing, because gold generates no cash flow. Over long periods, reinvested dividends form a meaningful part of an equity fund's total return, whereas a gold trust's return comes only from price changes less fees.

Which fund suits which goal?

VOO suits investors building long-term wealth through ownership of large US businesses and who accept equity volatility. GLD suits investors who want a store of value or a diversifier that does not depend on corporate earnings, often held as a smaller slice of a portfolio. They serve different purposes rather than competing for the same role.

How large and liquid are GLD and VOO?

Both are enormous. VOO holds about $1.08 trillion in net assets and GLD about $148 billion. Both trade with very tight spreads and deep volume. GLD has traded since November 2004 and VOO since September 2010, so each has well over a decade of history.

Are there tax or account considerations?

Gold trusts are often taxed differently from stock funds. In the US, gains on GLD are generally treated as collectibles, and other countries have their own rules for physical-metal trusts. VOO's dividends may face US withholding tax for non-US investors. Account type also matters. Check local guidance or speak to a tax professional.

Can I hold both GLD and VOO?

Yes, and this is a common pairing. Because gold and US stocks have no overlap and often react differently to inflation, interest rates and market stress, a modest gold allocation alongside a core equity fund is a traditional diversification approach. The right split depends on your goals and how much volatility you can tolerate.

Why does GLD not have a holdings count?

Because it does not hold securities. GLD's only asset is gold bullion, so measures like number of holdings, top ten weights and sector breakdowns do not apply. VOO, by contrast, reports 516 holdings across 11 sectors. Comparing the two on those metrics is not meaningful; the relevant points are fee, size and the behavior of gold versus stocks.

GLD vs VOO

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

GLD is a gold trust that holds physical bullion priced off the LBMA Gold Price and charges 0.40% a year, while VOO is a Vanguard index fund holding all 516 stocks in the S&P 500 for 0.03%. VOO pays a 1.04% dividend yield; GLD pays no income. VOO suits investors seeking long-term equity growth; GLD suits those who want a store of value that moves differently from stocks. Educational content, not financial advice.

GLD is a gold trust that holds physical bullion priced off the LBMA Gold Price and charges 0.40% a year, while VOO is a Vanguard index fund holding all 516 stocks in the S&P 500 for 0.03%. VOO pays a ...

Fund Snapshot

Key Fund Metrics

GLD

Metric

VOO

0.40%

Expense Ratio

0.03%

–

Dividend Yield

1.04%

$147.75B

Net Assets

$1.08T

–

Holdings

516

Nov 18, 2004

Inception Date

Sep 7, 2010

LBMA Gold Price

Index Tracked

S&P 500

Commodities Focused

Fund Category

Large Blend

VOO costs about $37.00 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

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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 moves differently from stocks
About $148 billion in net assets, one of the largest commodity trusts in the world
Trading history back to November 2004 covers several market crises

Considerations

Expense ratio of 0.40% is more than thirteen times VOO's 0.03%
Pays no dividends or interest, so returns depend entirely on the gold price
Gold can go through long flat periods while equities compound

VOO

Pros

Expense ratio of 0.03%, about $3 a year per $10,000 invested
Owns 516 companies across every major US sector, with earnings that grow over time
Dividend yield of 1.04% provides income that gold cannot

Considerations

Fully exposed to stock market drawdowns with no built-in hedge
Top three holdings NVIDIA, Apple and Microsoft are about 21% of the fund
US-only exposure with no commodities or non-US stocks

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