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.
IAU holds the edge across 3 of 5 key metrics in this comparison. IAU has delivered stronger 1-year price return (+2.91% vs +2.81% 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 scorei | 26.9 | 26.9 |
| Latest closei | $372.49 | $76.37 |
| 1M returni | -1.86% | -1.86% |
| 3M returni | -4.40% | -4.36% |
| 6M returni | -13.57% | -13.51% |
| 1Y returni | +2.81% | +2.91% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
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 | $10.28K (+2.8%) started 2025-11-04 | $10.29K (+2.9%) started 2025-11-04 |
| 5Y ago | $21.93K (+119.3%) started 2021-11-05 | $22.1K (+121.0%) started 2021-11-05 |
| 10Y ago | $30.49K (+204.9%) started 2016-11-07 | $30.94K (+209.4%) started 2016-11-07 |
Hypothetical — past performance does not guarantee future results.
| Metric | GLD | IAU |
|---|---|---|
| Expense ratioi | 0.40% | 0.25% |
| Total assets (AUM)i | $131.01B | $58.12B |
| Dividend yieldi | 0.00% | 0.00% |
| Trailing P/Ei | N/A | N/A |
| Betai | 0.19 | 0.20 |
| 52-week change | 2.81% | 2.91% |
| Metric | GLD | IAU |
|---|---|---|
| 1Y returni | +2.81% | +2.91% |
| 6M returni | -13.57% | -13.51% |
| 3M returni | -4.40% | -4.36% |
| 1M returni | -1.86% | -1.86% |
| 1Y Sharpe ratio | 0.09 | 0.09 |
| Betai | 0.19 | 0.20 |
| Dividend yieldi | 0.00% | 0.00% |
| 5Y CAGR | +17.02% | +17.20% |
Over the past year, GLD and IAU have moved strongly in the same direction (correlation of 1.00), based on daily returns.
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 | Growthi | +2.81% | +2.91% |
| CAGRi | +2.81% | +2.91% | |
| Volatilityi | 28.74% | 28.59% | |
| Sharpe ratioi | 0.09 | 0.09 | |
| Sortino ratioi | 0.11 | 0.12 | |
| Max drawdowni | 28.26% | 28.21% | |
| Current drawdowni | 24.89% | 24.81% | |
| Avg drawdowni | 13.50% | 13.46% | |
| Ulcer Indexi | 16.26% | 16.21% | |
| Max daily dropi | 10.27% | 10.21% | |
| Max wkly dropi | 12.25% | 12.24% | |
| 5Y | Growthi | +119.32% | +120.98% |
| CAGRi | +17.02% | +17.20% | |
| Volatilityi | 19.11% | 19.05% | |
| Sharpe ratioi | 0.69 | 0.70 | |
| Sortino ratioi | 0.96 | 0.98 | |
| Max drawdowni | 28.26% | 28.21% | |
| Current drawdowni | 24.89% | 24.81% | |
| Avg drawdowni | 7.06% | 6.99% | |
| Ulcer Indexi | 9.85% | 9.79% | |
| Max daily dropi | 10.27% | 10.21% | |
| Max wkly dropi | 12.25% | 12.24% | |
| 10Y | Growthi | +204.94% | +209.44% |
| CAGRi | +11.81% | +11.97% | |
| Volatilityi | 16.53% | 16.48% | |
| Sharpe ratioi | 0.49 | 0.50 | |
| Sortino ratioi | 0.68 | 0.69 | |
| Max drawdowni | 28.26% | 28.21% | |
| Current drawdowni | 24.89% | 24.81% | |
| Avg drawdowni | 7.14% | 7.06% | |
| Ulcer Indexi | 9.30% | 9.22% | |
| Max daily dropi | 10.27% | 10.21% | |
| Max wkly dropi | 12.25% | 12.24% |
| Category | GLD | IAU |
|---|---|---|
| Fund name | SPDR Gold Shares | iShares Gold Trust |
| Type | ETF | ETF |
| Expense ratioi | 0.40% | 0.25% |
| Total assets (AUM)i | $131.01B | $58.12B |
| Dividend yieldi | 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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