GLD vs IAU Stock Comparison: AI Score, Valuation, Performance and Upside
GLD and IAU provide identical gold price exposure through physical gold backing, with the only meaningful differences being expense ratio (IAU is cheaper at 0.25% vs GLD's 0.40%), liquidity (GLD is more liquid with a deeper options market), and share price (GLD represents more gold per share). The choice comes down to whether an investor prioritizes long-term cost efficiency (IAU) or trading liquidity and options access (GLD).
GLD vs IAU is a cost-versus-liquidity trade-off for identical gold exposure — long-term investors minimize compounding expense drag with IAU, while traders and options investors pay the premium for GLD's superior liquidity.
GLD and IAU are closely matched — they split the tracked metrics evenly. IAU has delivered stronger 1-year price return (+24.97% vs +24.77% for GLD).
- →prefer the most liquid physical gold ETF with the deepest options market for hedging or income strategies
- →value GLD's institutional dominance and maximum secondary market liquidity for large block trades
- →use gold options extensively for portfolio hedging or covered call writing
- →are comfortable paying 0.15% per year more in expenses in exchange for superior execution quality
- →prefer the lower expense ratio (0.25%) for long-term buy-and-hold physical gold exposure
- →value cost minimization as the primary criterion when the underlying exposure is identical to GLD
- →want granular position sizing from lower share prices (1/100th oz) suitable for retail account sizing
- →are comfortable with lower options market liquidity since they do not actively trade gold options
| Metric | GLD | IAU |
|---|---|---|
| ETF score | 68.0 | 74.0 |
| Latest close | $387.12 | $79.33 |
| 1M return | -5.92% | -5.92% |
| 6M return | -3.05% | -2.97% |
| 1Y return | +24.77% | +24.97% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | GLD | IAU |
|---|---|---|
| 1Y ago | $12.48K (+24.8%) started 2025-06-18 | $12.5K (+25.0%) started 2025-06-18 |
| 5Y ago | $23.47K (+134.7%) started 2021-06-18 | $23.64K (+136.4%) started 2021-06-18 |
| 10Y ago | $31.42K (+214.2%) started 2016-06-20 | $31.86K (+218.6%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
| Metric | GLD | IAU |
|---|---|---|
| Expense ratio | 0.40% | 0.25% |
| Total assets (AUM) | $150.37B | $69.92B |
| Dividend yield | 0.00% | 0.00% |
| Trailing P/E | N/A | N/A |
| Beta | 0.17 | 0.17 |
| 52-week change | 24.77% | 24.97% |
| Metric | GLD | IAU |
|---|---|---|
| 1Y return | +24.77% | +24.97% |
| 6M return | -3.05% | -2.97% |
| 1M return | -5.92% | -5.92% |
| 1Y Sharpe ratio | 0.78 | 0.79 |
| Beta | 0.17 | 0.17 |
| Dividend yield | 0.00% | 0.00% |
| 5Y CAGR | +18.61% | +18.78% |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | GLD | IAU |
|---|---|---|---|
| 1Y | Growth | +24.77% | +24.97% |
| CAGR | +24.79% | +24.99% | |
| Sharpe ratio | 0.78 | 0.79 | |
| Max drawdown | 24.46% | 24.40% | |
| Max daily drop | 10.27% | 10.21% | |
| Max wkly drop | 12.25% | 12.24% | |
| 5Y | Growth | +134.72% | +136.38% |
| CAGR | +18.61% | +18.78% | |
| Sharpe ratio | 0.79 | 0.80 | |
| Max drawdown | 24.46% | 24.40% | |
| Max daily drop | 10.27% | 10.21% | |
| Max wkly drop | 12.25% | 12.24% | |
| 10Y | Growth | +214.20% | +218.59% |
| CAGR | +12.14% | +12.29% | |
| Sharpe ratio | 0.51 | 0.52 | |
| Max drawdown | 24.46% | 24.40% | |
| Max daily drop | 10.27% | 10.21% | |
| Max wkly drop | 12.25% | 12.24% |
| Category | GLD | IAU |
|---|---|---|
| Fund name | SPDR Gold Shares | iShares Gold Trust |
| Type | ETF | ETF |
| Expense ratio | 0.40% | 0.25% |
| Total assets (AUM) | $150.37B | $69.92B |
| Dividend yield | 0.00% | 0.00% |
- →Largest gold ETF by AUM with the deepest options market for institutional hedging strategies
- →First-mover in physically backed gold ETFs with the deepest institutional ownership base
- →Exceptional daily trading volume ensures tight bid-ask spreads and minimal market impact for large trades
- →0.25% expense ratio saves 0.15% annually vs GLD, compounding to meaningful savings over long holding periods
- →Lower share price per unit (1/100th oz vs GLD's 1/10th oz) provides more granular position sizing for retail investors
- →BlackRock/iShares brand and custody infrastructure provide institutional-grade security for physical gold storage
- →0.40% expense ratio is 60% higher than IAU's 0.25%, a meaningful cost difference for long-term buy-and-hold investors
- →Like all physical gold ETFs, GLD provides no yield, dividends, or income — the only return is gold price appreciation
- →Each share represents 1/10th oz vs IAU's 1/100th oz, making GLD slightly less granular for small investors
- →GLD's options market is significantly more liquid than IAU's, making GLD superior for gold options strategies
- →Daily trading volume in IAU is lower than GLD, leading to wider bid-ask spreads for large institutional block trades
- →Like GLD, IAU provides no income — gold's investment case rests entirely on price appreciation
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