Gold ETF Showdown: GLD vs IAU vs GLDM – Which One Should You Buy?

Gold’s been on a tear in 2024, up 12.7% year-to-date. Over the past 5 years, it’s crushed it with a 73% gain since COVID hit. Smart move to throw some gold into your portfolio as an inflation hedge, but here’s the thing – physically holding bullion is a pain.

Enter: Gold ETFs. We compared the three heavyweights using TipRanks’ tool to see which deserves your cash.

The Contenders

GLD (SPDR Gold Shares) – The OG and the biggest kid on the block

• AUM: $61.31B (absolute monster)
• Expense ratio: 0.40% (highest of the three)
• YTD return: 12.71% | 1-year: 19.87% (best performer)
• Holdings: 26.5M oz of physical gold
• The catch: Just lost $513M in outflows over 3 months

GLDM (SPDR Gold MiniShares) – The budget-friendly option

• AUM: $7.38B (nimble)
• Expense ratio: 0.10% (cheapest in the game)
• YTD return: 12.39% | 1-year: 19.68% (solid middle-ground performance)
• Holdings: 3.17M oz of gold
• The vibe: Actually saw $110M inflows recently – people are noticing this one

IAU (iShares Gold Trust) – The middle child

• AUM: $28.40B (respectable)
• Expense ratio: 0.25% (sweet spot)
• YTD return: 12.35% | 1-year: 19.55% (basically inline with the pack)
• Holdings: 12.2M oz of gold
• The concern: $617M outflows in 3 months

The Verdict

All three track the same underlying commodity, so returns are basically identical – the tiny differences? That’s just the expense ratio working for or against you.

If you want max returns: GLD pulls ahead slightly, but you’re paying 0.40% annually for it.

If you want max value: GLDM is the dark horse here. Lowest fees (0.10%), lower entry price per share, and it’s actually attracting new money while the big guys are bleeding.

If you want the middle road: IAU splits the difference on costs but hasn’t gained any traction recently.

The reality? GLD still has the size advantage, but GLDM’s low-cost structure makes it compelling for long-term holders. The choice depends on whether you prioritize brand-name safety (GLD’s massive AUM) or cost efficiency (GLDM’s 0.10% fee). Over 20+ years, that fee difference adds up.