Best Gold ETFs
By Alex Capitol · Updated 2026-04-08 · Methodology
The best gold ETF for most investors is SPDR Gold MiniShares (GLDM) at just 0.10% annual expense ratio — the lowest-cost way to own gold. For maximum liquidity, choose SPDR Gold Shares (GLD). For Swiss storage, choose Aberdeen Physical Gold (SGOL). For leveraged gold exposure with dividends, choose VanEck Gold Miners ETF (GDX). iShares Gold Trust Micro (IAUM) at 0.09% is the absolute cheapest option.
Best Gold ETFs Ranked
| Rank | ETF | Ticker | Expense Ratio | Gold Held | Best For |
|---|---|---|---|---|---|
| 1 | SPDR Gold MiniShares | GLDM | 0.10% | ~35 tonnes | Cost-conscious investors |
| 2 | iShares Gold Trust Micro | IAUM | 0.09% | ~10 tonnes | Absolute lowest fees |
| 3 | iShares Gold Trust | IAU | 0.25% | ~460 tonnes | Balance of cost and liquidity |
| 4 | Aberdeen Physical Gold | SGOL | 0.17% | ~55 tonnes | Swiss-stored gold |
| 5 | SPDR Gold Shares | GLD | 0.40% | ~860 tonnes | Institutional traders |
| 6 | VanEck Gold Miners ETF | GDX | 0.51% | N/A (mining stocks) | Leveraged gold exposure |
Check the live gold price — ETF prices track the spot price closely.
Detailed ETF Comparison
1. SPDR Gold MiniShares (GLDM) — Best Overall
GLDM is the lowest-cost physical gold ETF available. Each share represents approximately 1/100th of an ounce of gold, making it affordable (share price ~$44). The gold is stored in HSBC vaults in London.
Why it's #1: At 0.10% expense ratio, you pay just $10/year per $10,000 invested. Over 10 years, the fee savings vs. GLD (0.40%) compound significantly.
- Expense ratio: 0.10%
- Share price: ~$44
- Daily volume: ~5 million shares
- Gold storage: London (HSBC)
- Minimum: 1 share
2. iShares Gold Trust (IAU) — Best Balance
IAU has been around since 2005 and holds over 460 tonnes of gold. It's more liquid than GLDM for large trades and has a long track record.
- Expense ratio: 0.25%
- Share price: ~$50
- Daily volume: ~15 million shares
- Gold storage: Multiple vaults (JP Morgan, London, Toronto, New York)
- Minimum: 1 share
3. Aberdeen Physical Gold (SGOL) — Best for Swiss Storage
SGOL stores its gold in Zurich, Switzerland — a jurisdiction known for financial stability and privacy. Some investors prefer Swiss storage over London or New York for geopolitical diversification.
- Expense ratio: 0.17%
- Share price: ~$26
- Daily volume: ~4 million shares
- Gold storage: Zurich (JPMorgan Chase Switzerland)
- Minimum: 1 share
4. SPDR Gold Shares (GLD) — Best for Traders
GLD is the largest and most liquid gold ETF in the world, holding over 860 tonnes. Its high daily volume makes it ideal for institutional traders and options strategies. However, its 0.40% expense ratio makes it expensive for long-term buy-and-hold investors.
- Expense ratio: 0.40%
- Share price: ~$440
- Daily volume: ~40 million shares
- Gold storage: London (HSBC)
- Minimum: 1 share (or fractional)
5. VanEck Gold Miners ETF (GDX) — Best for Leverage
GDX doesn't hold physical gold — it holds shares of gold mining companies (Newmont, Barrick, Agnico Eagle, etc.). Mining stocks typically move 2-3x the gold price, offering leveraged exposure in both directions. Note: in 2026, miners have been lagging gold significantly — see why gold miners are lagging gold in 2026.
- Expense ratio: 0.51%
- Holdings: ~50 mining companies
- Dividend yield: ~1.5%
- Best for: Investors who want gold exposure with dividends and growth potential
- Risk: Company-specific risks (management, costs, accidents) on top of gold price risk
How to Choose the Right Gold ETF
| If you want... | Choose |
|---|---|
| Lowest fees (long-term hold) | GLDM |
| Large trades, options, high liquidity | GLD |
| Swiss storage for jurisdictional diversification | SGOL |
| Good all-around choice | IAU |
| Leveraged exposure + dividends | GDX |
| Smallest share price / most accessible | SGOL (~$26) |
Gold ETF vs Physical Gold
| Factor | Gold ETF | Physical Gold |
|---|---|---|
| Costs | 0.10-0.40% annual | 3-8% dealer premium + storage |
| Liquidity | Sell instantly | Sell to dealer (takes days) |
| Counterparty risk | Fund custodian | None |
| Storage | None (fund handles it) | Safe, vault, or depository |
| Taxes | 28% collectibles rate | 28% collectibles rate |
| Minimum | ~$20 (fractional) | ~$145 (1g bar) |
For most investors, ETFs are the better choice. Physical gold makes sense for those who want tangible ownership and no counterparty risk. Many investors hold both. Learn more in our how to buy gold guide.
How to Buy a Gold ETF
- Open a brokerage account (Fidelity, Schwab, Robinhood, Interactive Brokers)
- Search for the ETF ticker (GLDM, IAU, etc.)
- Place a market or limit order
- Done — the ETF is in your account
Most brokerages charge $0 commission for ETF trades. Fractional shares are available at many brokerages, letting you invest any dollar amount.
Frequently Asked Questions
Are gold ETFs a good investment? Gold ETFs are the most efficient way for most investors to get gold exposure. They're cheap, liquid, and easy to buy. The underlying investment case depends on your view of gold — see is gold a good investment? for our analysis.
Do gold ETFs pay dividends? Physical gold ETFs (GLDM, IAU, GLD, SGOL) do not pay dividends. Gold mining ETFs (GDX, GDXJ) do pay dividends, typically 1-3%.
Are gold ETFs taxed differently than stocks? Yes. In the US, gold ETFs are taxed as collectibles: 28% maximum long-term capital gains rate vs. 20% for stocks. This applies even though you never touch physical gold. Gold held in a Roth IRA avoids this issue.
Which gold ETF has the most gold? GLD holds the most gold (~860 tonnes), followed by IAU (~460 tonnes). However, total holdings don't affect your returns — all physical gold ETFs track the same spot price.
Where do analysts expect gold to go? See our gold price forecast for 2026-2030. Use the gold calculator to model the value of different gold amounts at various prices.
This comparison is for educational purposes only and does not constitute investment advice. ETF data is approximate and may change. Always verify current expense ratios and holdings before investing.