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Launched · SEC filings

SPDR Gold MiniShares Trust

GLDMNYSE ArcaSPDRA

$78.03+1.20 (+1.56%)

At close: Nov 2, 2026, 4:00 PM ET

A82/ 100

Rank 1 of 10 in Physical Gold

A82/100Rank 1 of 10inPhysical Gold
Intraday session: up, 79 prints from 76.83 to 78.03. Range 77.90 to 78.50. Use the arrow keys to read each point.77.5078.5010 AM12 PM2 PM4 PM
Expense ratio
0.10%
Fund size
$29.6B
1Y total return
−3.0%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
4.28M sh
52W range
low $76.55high $109.74
Launched
Filings
SEC EDGAR

The ETF.net GLDM Grade

Based on 5 of 6 pillars

A

Score 82 out of 100

Category
Physical Gold⁠
Rank
1 of 10
Six-pillar profile for GLDM. Scores out of 100: Cost 91, Risk 49, Mission 100, Tradability 73, Holdings not scored, Durability 67. Strongest: Mission (100). Weakest: Risk (49). Based on 5 of 6 pillars.

Score 82 of 100 falls in the A 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.
    A91 out of 100
    Rank 1 of 10

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 2 of 10

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A73 out of 100
    Rank 2 of 10

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B67 out of 100
    Rank 3 of 10

Our read on GLDM

ETF.net Research

In short

AThe house that built the original gold ETF later built a cheaper one. GLDM holds physical gold bullion, charges 0.10% a year (a quarter of its older sibling's fee), and has grown into a multi-billion-dollar fund.

Stated mandate

GLDM seeks to reflect the performance of gold bullion, less the fund's expenses.

Why people hold it

  • Ten basis points a year for bullion exposure, below the typical fee among physical gold funds and a quarter of the 0.40% on GLD, the sponsor's original gold trust.
  • Simple plumbing: a grantor trust that holds metal and seeks to reflect gold bullion less expenses. No futures roll, no swap counterparty, no miner-stock beta in the way.
  • One of the strongest implementations in its peer group, and among the more actively traded gold funds, which tends to keep the spread you pay getting in and out modest.
  • Launched in 2018 as the low-fee sibling to the 2004 original, it is now a large, established trust rather than a niche launch hoping to find an audience.

Worth knowing

  • Gold pays nothing. No dividends, no interest, and the trust covers its expenses out of the metal, so gold per share drifts down over time.
  • One metal, one price. This is undiversified exposure to bullion, and gold can swing hard in both directions.
  • A couple of rivals list lower headline fees (IAUM at 0.09%, FGDL at 0.00%) for similar physical gold exposure.

GLDM Holdings

Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Physical Gold100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataPhysical Gold100.00%0$29.6B8

Showing 1–1 of 1 holdings

GLDM Performance

Launched Jun 25, 2018

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.
GLDM$9,702
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. GLDM $9,702. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for GLDM. Periods over one year show the average yearly return.
PeriodGLDM
Year to date−10.0%
1 month−6.5%
3 months−4.1%
1 year−3.0%
3 yearsper year+25.0%
5 yearsper year+16.7%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for GLDM
YearReturn barGLDM
2026 YTD−10.0%
2025+64.2%
2024+27.1%
2023+13.0%
2022−0.5%
2021−4.0%
2020+25.1%

GLDM in the news

GLDM Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

GLDM Risk

Risk pillarC49 out of 100Rank 2 of 10 in Physical Gold
How much the fund’s monthly returns vary, scaled to a year.
19.4%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
1.03
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−28.0%
Trough Oct 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.41
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

GLDM Cost

Compare GLDM and IAUM

Overpaying vs IAUM, cheapest in Physical Gold

$208

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GLDM 0.10%

    $2,106

  • IAUM 0.09% Cheapest

    $1,898

$10,000
30 years

Cost over time

  • GLDM 0.10%
  • IAUM 0.09%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K$2.5K051015202530GLDM $2,106IAUM $1,898

Year by year

YearGLDMIAUMOverpaying
10$183$165$18
20$717$646$71
30$2,106$1,898$208

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