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GLDM

SPDR Gold MiniShares Trust

Low-cost physical gold ETF. Same gold exposure as GLD at a fraction of the cost (0.10% vs 0.40%). Designed for buy-and-hold investors.

Backtest X-Ray Correlation Risk Map Compare vs GLD
CommodityTER 0.10%Acc.
TER
0.10%
AUM
$9B
CAGR
18.7%
Volatility
15.0%
Sharpe
1.05
Max Drawdown
-17.7%
Data Range
2018-06 → 2026-04

Performance Analysis

Maximum Drawdown History

How far the ETF has fallen from its all-time high at each point. Deeper = more painful.

Current DD-7.8%
Worst DD-17.7%
Worst date2022-10

Rolling Returns

Annualized returns over rolling windows. Shows the range of outcomes depending on when you invested.

Avg return13.4%
Best42.2%
Worst-0.8%
% positive95%
59 periods

Key Facts

ISIN
US78463V1070
Issuer
State Street
Benchmark
LBMA Gold Price
Total Expense Ratio (TER)
0.10%
Assets Under Management
$9B approx.
Inception Date
2018-06-25
Domicile
United States
Legal Structure
Grantor Trust
Dividend Policy
Accumulating (auto-reinvests)
Replication Method
Physical (Full Replication)
UCITS Status
✗ Not UCITS
Fund Currency
USD
Primary Exchange
NYSE Arca
Number of Holdings
~1

Equivalent ETFs

These ETFs track the same or very similar underlying index:

GLDSPDR Gold SharesIAUiShares Gold TrustSGOLAberdeen Physical Gold Shares ETF
Backtest this ETFOfficial Fund Page

Who Is This ETF For?

✓Inflation hedge and portfolio diversifier. Historically low correlation with stocks and bonds.
✓Investors preferring automatic dividend reinvestment (no tax event on distributions in many jurisdictions).

Key Risks to Consider

• No cash flows or dividends — returns depend entirely on price appreciation.

• Non-UCITS: may have unfavorable tax treatment for non-US investors (US estate tax, withholding tax).

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Correlation Matrix

Risk vs Return

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Data & Methodology

Metadata sourced from official issuer documentation. Price data from Yahoo Finance (monthly adjusted close, includes reinvested dividends and splits). AUM figures are approximate and updated quarterly.

Data source: Yahoo Finance (adjusted close), State Street (metadata)Last verified: 2026-04-17

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UCITS Equivalent

GLD

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Alternative Approaches

DBC

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TER 0.85%$3B AUM
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💬 Frequently Asked Questions

Low-cost physical gold ETF. Same gold exposure as GLD at a fraction of the cost (0.10% vs 0.40%). Designed for buy-and-hold investors.
GLDM has a total expense ratio (TER) of 0.10%, which means you pay $10 per year for every $10,000 invested.
GLDM is an accumulating ETF — dividends are automatically reinvested into the fund rather than paid out, which can be more tax-efficient in many jurisdictions.
GLDM is a US-domiciled ETF (not UCITS). Non-US investors should consider the US estate tax implications (40% on US assets above $60,000) and the 30% dividend withholding tax (reduced by treaty in some countries).
GLDM uses full physical replication, meaning it holds all (or nearly all) securities in the LBMA Gold Price index directly.
Similar ETFs tracking the same or a very similar index include: GLD, IAU, SGOL. These may differ in domicile, currency, dividend policy, or expense ratio.