Average Daily Volume
3.76M
Fund Overview
The SPDR Gold MiniShares Trust (GLDM) is an exchange-traded fund (ETF) that seeks to provide investors with a cost-effective and convenient way to gain exposure to the performance of gold bullion. GLDM is designed to reflect the performance of the price of gold, minus the Trust's expenses. The fund holds physical gold bars stored in secure vaults, offering a direct investment in gold without the complexities of futures contracts or mining stocks. With a low expense ratio, GLDM is an attractive option for investors looking to add gold to their portfolios as a hedge against inflation or market volatility. The fund is backed by physical gold, providing transparency and liquidity, making it a popular choice among both retail and institutional investors.
- Asset Class
-
Commodity
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- N/A
- Currency Hedged
-
No
- Portfolio Turnover
-
N/A
- Dividend Date
-
Why Invest in the GLDM ETF?
Potential Benefits
- Low expense ratio compared to many other gold ETFs, making it cost-effective for long-term holdings.
- Direct exposure to physical gold, eliminating risks associated with gold mining stocks or derivatives.
- High liquidity due to its listing on major exchanges, allowing for easy buying and selling.
- Acts as a hedge against inflation and currency fluctuations, preserving purchasing power.
- Transparent holdings with gold bars stored in secure vaults, providing peace of mind for investors.
Potential Risks
- Gold prices can be volatile, influenced by macroeconomic factors, interest rates, and geopolitical events.
- No income generation (e.g., dividends or interest), as gold is a non-yielding asset.
- Storage and insurance costs, though minimal, are embedded in the expense ratio.
- Potential underperformance during periods of strong equity market returns, as gold often moves inversely to risk assets.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+12.5%
|
+8.5%
|
-11.0%
|
-1.4%
|
-1.6%
|
-11.7%
|
+0.9%
|
+9.9%
|
-6.7%
|
-0.2%
|
-
|
-
|
| 2025 |
+6.7%
|
+1.9%
|
+9.5%
|
+5.4%
|
0.0%
|
+0.4%
|
-0.6%
|
+5.0%
|
+11.8%
|
+3.6%
|
+5.4%
|
+2.3%
|
| 2024 |
-1.4%
|
+0.5%
|
+8.7%
|
+3.1%
|
+1.6%
|
-0.1%
|
+5.4%
|
+2.1%
|
+5.1%
|
+4.3%
|
-3.1%
|
-1.3%
|
| 2023 |
+5.8%
|
-5.3%
|
+7.9%
|
+1.0%
|
-1.4%
|
-2.2%
|
+2.3%
|
-1.3%
|
-4.7%
|
+7.4%
|
+2.6%
|
+1.3%
|
| 2022 |
-1.7%
|
+6.2%
|
+1.3%
|
-2.1%
|
-3.2%
|
-1.6%
|
-2.5%
|
-2.9%
|
-2.9%
|
-1.7%
|
+8.4%
|
+3.0%
|
| 2021 |
-3.2%
|
-6.3%
|
-1.1%
|
+3.5%
|
+7.6%
|
-7.0%
|
+2.4%
|
+0.1%
|
-3.3%
|
+1.5%
|
-0.7%
|
+3.2%
|
| 2020 |
+4.6%
|
-0.6%
|
-0.1%
|
+7.1%
|
+2.6%
|
+2.8%
|
+10.9%
|
-0.4%
|
-4.1%
|
-0.5%
|
-5.4%
|
+7.0%
|
| 2019 |
+2.8%
|
-0.5%
|
-1.6%
|
-0.7%
|
+1.7%
|
+8.1%
|
+0.1%
|
+7.8%
|
-3.3%
|
+2.7%
|
-3.2%
|
+3.6%
|
| 2018 |
-
|
-
|
-
|
-
|
-
|
-
|
-2.2%
|
-2.0%
|
-0.8%
|
+2.1%
|
+0.5%
|
+4.9%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: GLDM vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
GLDM aims to track the performance of gold bullion by holding physical gold bars stored in secure vaults. The fund does not use derivatives or engage in active management, instead opting for direct physical replication. The gold bars are allocated and held in the name of the Trust, providing transparency and security. The fund's expense ratio is kept low to minimize the drag on returns, making it an efficient vehicle for gold exposure. GLDM is rebalanced periodically to ensure alignment with its investment objective, though the primary holdings remain physical gold.
Frequently Asked Questions
Is GLDM backed by physical gold?
Yes, GLDM holds physical gold bars stored in secure vaults, providing direct exposure to the price of gold.
How does GLDM differ from other gold ETFs like GLD?
GLDM has a lower expense ratio compared to GLD, making it more cost-effective for long-term investors, though GLD offers higher liquidity due to its larger size.
What are the main factors that influence GLDM's performance?
GLDM's performance is directly tied to the spot price of gold, which is influenced by inflation, interest rates, currency movements, and geopolitical events.
Does GLDM pay dividends?
No, GLDM does not pay dividends as gold is a non-yielding asset. Returns are solely based on changes in the price of gold.
Where is GLDM's gold stored?
GLDM's gold bars are stored in secure vaults in London, managed by a trusted custodian to ensure safety and transparency.
Industry Overview
The SPDR Gold MiniShares Trust (GLDM) is part of the commodity ETFs sector, specifically focusing on gold. Gold has long been considered a safe-haven asset, often sought after during times of economic uncertainty, inflation, or market downturns. Investing in gold through ETFs like GLDM provides a convenient way to gain exposure without the need for physical storage. The gold market is influenced by factors such as central bank policies, currency movements (particularly the US dollar), and global demand trends. GLDM offers a cost-efficient and liquid alternative to traditional gold investments, making it suitable for both tactical and strategic portfolio allocations.
Alternative Comparison
Compared to its peers like IAU and SGOL, GLDM stands out for its lower expense ratio, making it one of the most cost-effective gold ETFs available. While GLD is larger and more liquid, it comes with a higher expense ratio, which may not be ideal for cost-conscious investors. Unlike some gold ETFs that use futures contracts or other derivatives, GLDM provides direct exposure to physical gold, similar to IAU and SGOL. For investors seeking the lowest-cost option with physical gold backing, GLDM is a compelling choice.
Issuer Overview
GLDM is issued by State Street Global Advisors (SSGA), one of the largest and most reputable asset managers in the world. SSGA is known for its extensive lineup of SPDR ETFs, covering a wide range of asset classes and investment strategies. With a strong track record in ETF innovation and management, SSGA provides investors with reliable and transparent investment solutions. The firm's expertise in commodity ETFs ensures that GLDM is well-structured to meet its investment objectives.
Conclusion
The SPDR Gold MiniShares Trust (GLDM) offers a straightforward and cost-efficient way to invest in physical gold. With its low expense ratio, transparent holdings, and high liquidity, GLDM is well-suited for investors looking to hedge against inflation or diversify their portfolios. While gold can be volatile and does not generate income, its role as a safe-haven asset makes it a valuable component of a balanced investment strategy. GLDM's simplicity and affordability make it a top choice among gold ETFs.
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