Deep Dive
The SPDR That Eats Itself
GraniteShares Gold Trust
$40.95−0.09 (−0.22%)
- 0.17%
- $1.3B
- +3.8%
- 0.2M sh
- $41.05
- low $38.59high $54.63
The ETF.net BAR Grade
B
Score 65 out of 100
- 5 of 10
Score 65 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B59 out of 100Rank 4 of 10Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 9Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C49 out of 100Rank 2 of 10Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C49 out of 100Rank 5 of 10Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 7 of 10
Our read on BAR
BReal bars in a London vault, listed one by one on the sponsor's site every day. BAR landed in 2017 as the boutique fee-fighter among gold trusts: no lending, no derivatives, a 0.17% sponsor fee.
The Trust seeks to have each Share’s value reflect the value of its gold assets after accrued expenses and liabilities, providing a simple way to invest similarly to gold.
Why people hold it
- Bullion only: the gold sits in ICBC Standard Bank's London vault, lending of the metal isn't permitted, and the trust can't hold derivatives.graniteshares.comsec.gov
- You can check the claim: the bar list is published daily, and outside inspector Bureau Veritas visits the vault twice a year, one of those visits at random.graniteshares.comgraniteshares.com
- Plain passive plumbing: mirror the LBMA Gold Price PM less expenses. It has hugged that gold benchmark very tightly.
Worth knowing
- No income here. Gold pays nothing, and the trust sells a sliver of its bullion to cover expenses, so the ounces behind each share drift down over time.graniteshares.com
- Cheaper doors to the same metal exist: GLDM and IAUM both undercut BAR's fee, and BAR is only moderately traded next to the category's volume leaders.
- Tax quirk of the wrapper: under current law, long-term gains on gold held through the trust are taxed as collectibles, at a maximum 28% rate.sec.gov
BAR Holdings
- Other
- 1
- 100%
- Physical Gold
BAR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
BAR$10,377
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BAR |
|---|---|
| Year to date | −3.4% |
| 1 month | −4.1% |
| 3 months | +1.5% |
| 1 year | +3.8% |
| 3 years | +30.5% |
| 5 years | +18.6% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BAR |
|---|---|---|
| 2026 YTD | −3.4% | |
| 2025 | +64.1% | |
| 2024 | +27.0% | |
| 2023 | +13.0% | |
| 2022 | −0.6% | |
| 2021 | −3.9% | |
| 2020 | +25.0% |
BAR in the news
The Big Picture
The 10-year yield rose to 5.28% in a week of 29,000 new jobs
BAR Dividends
No distributions in the last 12 months.
BAR Risk
- 18.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.29
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −26.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.44
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BAR Cost
0.17%
BAR0.17%
- The middle half of Physical Gold funds
- Median 0.17%
3 of the 10 Physical Gold funds charge less.
Other funds in Physical Gold
- BSGOLabrdn Physical Gold Shares ETFExpense ratio 0.17%1 year return +3.8%
- BAAAUGoldman Sachs Physical Gold ETFExpense ratio 0.18%1 year return +3.7%
- BIAUiShares Gold TrustExpense ratio 0.25%1 year return +3.7%
- BOUNZVanEck Merk Gold ETFExpense ratio 0.25%1 year return +3.7%
- BGLDSPDR Gold SharesExpense ratio 0.40%1 year return +3.5%