What is the main difference between PHYS and SGOL?

PHYS and SGOL both provide exposure to physical gold, but they differ in cost structure. PHYS charges an expense ratio of 0.41%, while SGOL charges 0.17%. This fee difference means that, all else being equal, SGOL has a lower annual cost to hold, which can affect long-term returns. Both funds do not pay dividends, so returns depend entirely on the change in gold prices.

Why does the expense ratio matter for gold ETFs?

The expense ratio is the annual fee charged to manage the fund. A lower expense ratio means less of your investment is taken out each year as cost. For example, the 0.41% fee on PHYS versus the 0.17% fee on SGOL means SGOL is 0.24 percentage points cheaper. Over time, this difference can reduce the drag on returns for SGOL.

How do PHYS and SGOL compare in terms of liquidity?

SGOL has net assets of $7.4 billion, which indicates significant scale. This often supports tighter bid-ask spreads and better liquidity. PHYS's net assets are currently not available, which means investors cannot assess its scale and liquidity from this data alone. Higher liquidity, as seen in SGOL, generally makes it easier to buy and sell at closer to fair market value.

Do PHYS and SGOL have any overlapping holdings?

Based on available data, there are no shared top-10 holdings listed for PHYS and SGOL. Since both funds hold physical gold, the 'holdings' typically refer to the gold bars themselves. The lack of listed overlaps suggests we cannot verify specific storage locations or exact composition from the provided data, highlighting the importance of reviewing fund documentation for detailed transparency.

How do the dividends for PHYS and SGOL compare?

Both PHYS and SGOL have a dividend yield of 0.00%. This means neither fund pays regular distributions to shareholders. Physical gold does not generate income like bonds or stocks, so returns come solely from the appreciation in gold prices. Investors seeking income must look to other asset classes or funds that pay dividends.

What does the 'not available' data for PHYS mean for investors?

For PHYS, several key data points such as net assets and top holdings are not available. This limits the ability to assess the fund's overall size, liquidity, and precise composition compared to SGOL, which has clear net asset figures. Investors should be aware that missing data can reduce transparency and make comparisons more difficult.

How does the inception date of these funds affect their track record?

SGOL was established in September 2009, while PHYS began in February 2010. This means SGOL has a slightly longer operational history. Both funds have been in existence for many years, offering investors some historical context, but the difference of roughly five months is minimal and unlikely to significantly impact their long-term track records.

How do market conditions affect PHYS and SGOL?

Both PHYS and SGOL are exposed to the price of physical gold. During periods of economic uncertainty or geopolitical instability, gold often performs well as a defensive asset. However, because SGOL has a lower expense ratio, its net return may be less affected by costs during these market conditions compared to PHYS, assuming similar gold price movements.

What is the role of counterparty risk in these ETFs?

PHYS is described as avoiding counterparty risk associated with derivatives, holding direct physical bullion. SGOL also holds physical gold, but its specific methodology details are not available. In general, physically backed ETFs aim to minimise counterparty risk by holding the actual commodity, unlike derivatives which depend on the creditworthiness of a third party.

What should beginners check before comparing these ETFs?

Beginners should check the expense ratios (0.41% for PHYS, 0.17% for SGOL), net assets (not available for PHYS, $7.4 billion for SGOL), and whether the fund pays dividends (both pay 0.00%). They should also review if top holdings and storage details are transparent, as missing data can impact assessment.

How can I assess the transparency of these funds?

Transparency varies. SGOL provides clear data on net assets ($7.4 billion) and expense ratio (0.17%), but its top holdings and index tracked are not available. PHYS lists its expense ratio (0.41%) and inception date, but lacks data on net assets and holdings. Neither fund provides complete information, so investors should consult official fund documents for deeper analysis.

PHYS vs SGOL

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

Compare Sprott Physical Gold Trust and Abrdn Gold Etf. This page reviews fees, holdings, dividends, and tracking. PHYS charges 0.41% while SGOL charges 0.17%. Neither fund pays dividends. Educational content, not financial advice.

Compare Sprott Physical Gold Trust and Abrdn Gold Etf. This page reviews fees, holdings, dividends, and tracking. PHYS charges 0.41% while SGOL charges 0.17%. Neither fund pays dividends. Educational ...

Fund Snapshot

Key Fund Metrics

PHYS

Metric

SGOL

0.41%

Expense Ratio

0.17%

0.00%

Dividend Yield

0.00%

–

Net Assets

$7.43B

–

Holdings

1

Feb 25, 2010

Inception Date

Sep 9, 2009

–

Index Tracked

–

Fund Category

Commodities Focused

SGOL costs about $24.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

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Investment Analysis

PHYS

Pros

Investing in PHYS provides direct exposure to physical bullion stored securely, avoiding counterparty risk associated with derivatives or mining stocks.
The trust has been operational since February 2010, offering investors a lengthy track record of preserving capital against market volatility and inflationary pressures.
As a non-derivative asset, PHYS serves as a reliable defensive holding within a portfolio, typically performing well during periods of geopolitical instability or economic uncertainty.

Considerations

With an expense ratio of 0.41 percent, the annual holding cost is notably higher than many competing exchange-traded funds tracking similar gold assets.
Net assets are currently listed as not available, limiting transparency regarding the fund's overall scale and liquidity profile for potential investors.
The trust distributes no dividends, meaning investors receive zero income yield and must rely solely on capital appreciation for any returns.

SGOL

Pros

SGOL maintains a competitive expense ratio of 0.17 percent, significantly reducing the drag on returns compared to higher-cost physical gold alternatives.
With net assets totaling $7.4 billion, the fund benefits from substantial scale, which generally supports tighter bid-ask spreads and better liquidity.
Established in September 2009, the ETF offers a mature structure that has navigated various market cycles, providing investors with historical performance context.

Considerations

The specific index tracked by the fund is not available, leaving uncertainty regarding the exact benchmark or methodology used for performance evaluation.
Top holdings data is not available, preventing investors from verifying the precise composition or storage locations of the physical gold assets.
Like its competitor, SGOL provides a dividend yield of 0.00 percent, offering no regular income stream to shareholders.

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About PHYS and SGOL

PHYS (PHYS)

Sprott Physical Gold Trust (PHYS) provides investors with direct exposure to physical gold bullion held in secure vaults. Each unit is backed by allocated gold, with the trust aiming to reflect the market price of gold minus fees and expenses. With a market capitalisation of around $14.4 billion, PHYS is one of the larger vehicles offering bullion exposure and is commonly used by investors seeking a straightforward, asset-backed way to participate in gold’s price movements. It does not pay dividends and its returns depend wholly on the gold price; shares can trade at a premium or discount to the trust’s net asset value. Key considerations include the risks of gold price volatility, trust fees and storage costs, potential tax treatments, and liquidity differences compared with ETFs or owning physical coins. This information is educational and not personal financial advice — investors should assess suitability for their own objectives and risk tolerance.

SGOL (SGOL)

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PHYS vs SGOL

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Investment Analysis

PHYS

Pros

Considerations

SGOL

Pros

Considerations

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Buy PHYS or SGOL in Nemo

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Frequently asked questions

What is the main difference between PHYS and SGOL?

Why does the expense ratio matter for gold ETFs?

How do PHYS and SGOL compare in terms of liquidity?

Do PHYS and SGOL have any overlapping holdings?

How do the dividends for PHYS and SGOL compare?

What does the 'not available' data for PHYS mean for investors?

How does the inception date of these funds affect their track record?

How do market conditions affect PHYS and SGOL?

What is the role of counterparty risk in these ETFs?

What should beginners check before comparing these ETFs?

How can I assess the transparency of these funds?

Fund Snapshot

About PHYS and SGOL

Which Baskets Do They Appear In?

Gold Rush: Could Fed Probe Drive Safe Haven Demand?

Which Baskets Do They Appear In?

Gold Rush: Could Fed Probe Drive Safe Haven Demand?

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Sprott Physical Gold Trust vs Santander Chile

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