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FGDL vs GLD

Franklin Responsibly Sourced Gold ETF

FGDLBNYSE Arca

SPDR Gold Shares

GLDBNYSE Arca

Overlap

0.0%by weight

Expense ratio

FGDL −0.25pt a year

FGDL0.15%GLD0.40%

Avg volume · 30D

GLD 486.9×the volume

FGDL18.3KGLD8.92M

3Y return · a year

FGDL +0.3pt

FGDL+28.4%GLD+28.1%

FGDL vs GLD Performance

Oct 14, 2025 – Oct 14, 2026

−1.5%FGDL−1.3%GLD

Oct 14, 2025 to Oct 14, 2026. FGDL −1.5%. GLD −1.3%. Use the arrow keys to read each point.10%20%30%Oct 2025Apr 2026Oct 2026
Expense ratio
FGDL 0.15%, better
GLD 0.40%
Fund size
FGDL $424M
GLD $141B
1Y total return
FGDL −1.5%
GLD −1.3%, better
Holdings
FGDL 1
GLD 1
Avg volume (30D)
FGDL 18.3K sh
GLD 8.92M sh, better
NAV per share
FGDL $54.41
GLD $382.20
52W range

ETF.net Grade

FGDL: Cost 77, Risk 49, Mission 100, Tradability 23, Holdings not scored, Durability 32. GLD: Cost 12, Risk 49, Mission 100, Tradability 82, Holdings not scored, Durability 82.
Pillar letters and Scores for FGDL, GLD, with each pillar’s weight
PillarFGDLGLD
Cost30% weightA77HigherF12
Mission25% weightA100A100
Risk15% weightC49C49
Tradability15% weightF23A82Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD32A82Higher

Rank among Physical Gold funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FGDL and GLD are both graded against the same 10 Physical Gold funds, so their Grades compare head to head.

Physical Gold⁠

Category · 10 funds
See all 10 ›

FGDL ranks 3rd and GLD 9th of 10 funds in the Physical Gold Category.

  1. Rank 1AGLDMSPDR Gold MiniShares TrustScore 81
  2. Rank 2AIAUMiShares Gold Trust MicroScore 77
  3. Rank 3BFGDLFranklin Responsibly Sourced Gold ETFScore 67
  4. Rank 4BSGOLabrdn Physical Gold Shares ETFScore 66
  5. Rank 7BOUNZVanEck Merk Gold ETFScore 58
  6. Rank 9BGLDSPDR Gold SharesScore 57
  7. Rank 10CYSAUY all Street Physical Gold ETFScore 42

Our read on each fund

ETF.net Research

FGDLBFranklin Responsibly Sourced Gold ETF

GLDBSPDR Gold Shares

In short

FGDL Gold in a vault, with two twists: the bars come with Franklin's responsible-sourcing label, and the fund charges nothing to hold them. Assets are bullion and cash, full stop.

GLD Gold in a brokerage account, running since 2004: a trust that holds physical bullion and trades like a stock. It's the heavyweight of the gold shelf, and the fee is the price of that depth.

Stated mandate

FGDL The Fund seeks to track the price of gold bullion, after deducting expenses. Its assets consist only of gold bullion and cash, if any.

GLD GLD seeks to have its shares track the price of gold bullion after the Trust’s operating expenses.

Why people hold it

  • FGDL A 0.00% expense ratio in a cohort whose median is 0.17%. Even the cheap giants charge something (GLDM 0.10%, IAUM 0.09%, GLD 0.40%).
  • Simple plumbing: a grantor trust that holds gold bullion and cash and tracks the metal's price after expenses. No futures, no swaps, no miners.
  • The responsible-sourcing standard is the pitch in a group where every fund owns the same metal, and Franklin spells it out in the trust's own filings.
  • Does what it says: mandate, wrapper and holdings all line up, and it sits in the upper half of the physical gold cohort.
  • GLD Does the one job it advertises: shares track the price of gold bullion after the trust's expenses, and the tracking is among the tightest in the gold group.
  • Huge and very actively traded, which is why spreads tend to be thin and large orders usually find the other side quickly.
  • Plain structure: a grantor trust holding physical gold. No futures, no roll schedule, no leverage between you and the metal.
  • Trading since 2004, one of the longest-running gold vehicles on the US market and through several gold cycles.

Worth knowing

  • FGDL Thinly traded next to the category's heavyweights, which can mean wider bid/ask spreads on the way in and out.
  • Bullion pays no income, and the fund makes no distributions. The gold price, less costs, is the whole story.
  • Launched in 2022 and far smaller than the decade-old gold trusts, so the track record is short by cohort standards.
  • GLD 0.40% a year is the toll for that liquidity: more than double the typical physical-gold ETF fee, and above its own cheaper sibling GLDM at 0.10%.
  • No dividends or interest. Bullion pays nothing, so the gold price minus the trust's expenses is the entire story.
  • Gold moves in big swings, with no earnings or yield underneath to soften them.

Full FGDL profile⁠

Full GLD profile⁠

FGDL vs GLD Holdings

Overlap

0.0%by weight

Only FGDL
1
of 1
In both
0
holdings
Only GLD
1
of 1

Holdings side by side

Top 10 holdings by combined weight
HoldingFGDLGLD
Gold Oz.Gold Oz.100.02%Not held
Physical GoldPhysical GoldNot held100.00%

All 2 FGDL holdings⁠All GLD holdings⁠

FGDL vs GLD Cost

Expense ratio

  • 0.15%FGDL, cheaper
  • 0.40%GLD
  • Middle half of Physical Gold funds
  • Median 0.17%

FGDL 3rd cheapest of 10 funds

GLD 10th cheapest of 10 funds

$4,953less in fees with FGDL over 30 years, on $10,000 invested

$0$2,000$4,000$6,000$8,000$10,000Start10 years20 years30 years

Assumes $10,000 invested once and 7% growth a year before fees.

FGDL vs GLD Dividends

Last 12 months to Oct 14, 2026
Payout (12M)
FGDL None
GLD None

Distribution history

FGDLAll FGDL payments⁠

No distribution history available.

GLDAll GLD payments⁠

No distribution history available.

FGDL vs GLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FGDL 19.1%GLD 19.0%, better
Return per unit of riskSharpe ratio, 3 years
FGDL 1.28GLD 1.28Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
FGDL −26.6%since Jun 2022GLD −26.4%
Market sensitivityBeta, 3 years
FGDL 0.41GLD 0.44

FGDL and GLD in the news

All news⁠

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