GLD vs GLDM Stock Comparison: AI Score, Valuation, Performance and Upside
GLD and GLDM both hold physical gold with nearly identical underlying exposure, but with very different costs. GLD at 0.40% is the institutional liquidity standard; GLDM at 0.10% is the retail investor long-term holding vehicle. For any investor not requiring institutional-grade GLD liquidity for active trading or derivatives, GLDM is the clearly superior choice — same gold, 75% lower annual fee.
GLD vs GLDM is the world's most liquid gold ETF at 0.40% expense (GLD) versus the same physical gold at 0.10% for retail and long-term investors (GLDM) — GLDM is GLD's cost-efficient twin, and for any investor not needing institutional GLD liquidity for derivatives trading, GLDM is the correct choice.
GLD and GLDM are closely matched — they split the tracked metrics evenly. GLDM has delivered stronger 1-year price return (+25.12% vs +24.77% for GLD).
- →trade gold ETF options actively — GLD has the deepest, most liquid gold options market of any ETF
- →require institutional-grade liquidity for large gold positions where bid-ask spread minimization on multi-million dollar trades matters
- →have existing GLD positions with embedded capital gains where switching to GLDM would trigger taxable events
- →are comfortable paying 0.40% for GLD's market depth and derivatives infrastructure requirements
- →prefer long-term buy-and-hold gold allocation at 0.10% expense ratio — 4x cheaper than GLD for identical gold exposure
- →value lower share price for precise position sizing without needing to hold multiples of a $200+ share price
- →want cost-efficient physical gold as an inflation hedge, safe haven, or portfolio diversifier over multi-year holding periods
- →are comfortable with GLDM's lower (but still substantial) trading volume compared to GLD for retail-scale position sizes
| Metric | GLD | GLDM |
|---|---|---|
| ETF score | 68.0 | 76.0 |
| Latest close | $387.12 | $83.44 |
| 1M return | -5.92% | -5.93% |
| 6M return | -3.05% | -2.89% |
| 1Y return | +24.77% | +25.12% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | GLD | GLDM |
|---|---|---|
| 1Y ago | $12.48K (+24.8%) started 2025-06-18 | $12.51K (+25.1%) started 2025-06-18 |
| 5Y ago | $23.47K (+134.7%) started 2021-06-18 | $23.8K (+138.0%) started 2021-06-18 |
| 10Y ago | $31.42K (+214.2%) started 2016-06-20 | $33.14K (+231.4%) started 2018-06-26 |
Hypothetical — past performance does not guarantee future results.
| Metric | GLD | GLDM |
|---|---|---|
| Expense ratio | 0.40% | 0.10% |
| Total assets (AUM) | $150.37B | $30.87B |
| Dividend yield | 0.00% | 0.00% |
| Trailing P/E | N/A | N/A |
| Beta | 0.17 | 0.17 |
| 52-week change | 24.77% | 25.12% |
| Metric | GLD | GLDM |
|---|---|---|
| 1Y return | +24.77% | +25.12% |
| 6M return | -3.05% | -2.89% |
| 1M return | -5.92% | -5.93% |
| 1Y Sharpe ratio | 0.78 | 0.80 |
| Beta | 0.17 | 0.17 |
| Dividend yield | 0.00% | 0.00% |
| 5Y CAGR | +18.61% | +18.94% |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | GLD | GLDM |
|---|---|---|---|
| 1Y | Growth | +24.77% | +25.12% |
| CAGR | +24.79% | +25.14% | |
| Sharpe ratio | 0.78 | 0.80 | |
| Max drawdown | 24.46% | 24.35% | |
| Max daily drop | 10.27% | 10.08% | |
| Max wkly drop | 12.25% | 12.26% | |
| 5Y | Growth | +134.72% | +137.99% |
| CAGR | +18.61% | +18.94% | |
| Sharpe ratio | 0.79 | 0.80 | |
| Max drawdown | 24.46% | 24.35% | |
| Max daily drop | 10.27% | 10.08% | |
| Max wkly drop | 12.25% | 12.26% | |
| 10Y | Growth | +214.20% | +231.43% |
| CAGR | +12.14% | +16.21% | |
| Sharpe ratio | 0.51 | 0.71 | |
| Max drawdown | 24.46% | 24.35% | |
| Max daily drop | 10.27% | 10.08% | |
| Max wkly drop | 12.25% | 12.26% |
| Category | GLD | GLDM |
|---|---|---|
| Fund name | SPDR Gold Shares | SPDR Gold MiniShares |
| Type | ETF | ETF |
| Expense ratio | 0.40% | 0.10% |
| Total assets (AUM) | $150.37B | $30.87B |
| Dividend yield | 0.00% | 0.00% |
- →World's largest and most liquid gold ETF — the deepest options market and lowest bid-ask spreads for institutional-scale gold trading
- →Backed by physical gold in London vaults with daily NAV transparency and strong custody governance
- →20+ year track record with highest brand recognition in gold ETFs — the industry standard benchmark gold product
- →0.10% expense ratio vs GLD's 0.40% — GLDM is 4x cheaper for the same physical gold holding, compounding into significant cost savings over time
- →Lower share price (~$20+) vs GLD ($200+) allows more precise position sizing without rounding to nearest shares
- →Same physical gold custody and governance as GLD — backed by the same gold in the same vaults with the same trust structure
- →0.40% expense ratio is 30 basis points more expensive than GLDM — a meaningful cost disadvantage for long-term buy-and-hold gold investors
- →High share price (~$200+ per share, representing 1/10th oz of gold) requires more capital per share vs GLDM's more accessible share price
- →0.40% annual drag compounds into significant gold performance shortfall for investors holding decades-long gold positions
- →Less trading volume and liquidity than GLD — wider bid-ask spreads for large trades vs GLD's institutional-grade depth
- →Fewer options available for hedging vs GLD's very active options market used by institutional traders
- →Smaller AUM than GLD may create slightly higher tracking error vs gold spot in illiquid market conditions, though practically negligible
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