SPDR Gold Shares (GLD) Manages $141.7 Billion – More Than Double the Nearest Competitor
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Key Takeaways
- SPDR Gold Shares (GLD) manages assets of $141.7 billion as of June 2, 2026 – more than double those of the second-largest gold ETF, iShares Gold Trust.
- GLD's expense ratio is 0.40 percent per year, while sister product GLDM is significantly cheaper at 0.10 percent (as of January 2026).
- GLD reached an all-time high of $495.90 on January 29, 2026 and closed at $365.80 on June 24, 2026.
- The fund offers the highest liquidity of all gold ETFs with the tightest bid-ask spreads and deepest options market.
- GLD replicates the gold price through direct deposit of physical gold bars, without using leverage or derivatives.
The SPDR Gold Shares ETF (GLD) managed assets of $141.7 billion as of June 2, 2026, and remains by far the world's largest listed gold fund. The assets under management are more than double those of the second-largest competitor, the iShares Gold Trust, according to data from fund provider State Street Global Advisors (SSGA).
Fee Structure and Competitive Comparison
GLD charges an annual expense ratio of 0.40 percent (as of January 17, 2026). The fund thus trades significantly above the sister product SPDR Gold MiniShares Trust (GLDM), which operates at 0.10 percent per year. A comparative analysis published in January 2026 shows: both funds achieved nearly identical one-year returns and five-year drawdowns, as they both track the physical gold price. Neither of the two funds distributes dividends.
Performance data shows: GLD closed at $365.80 on June 24, 2026. The fund reached its all-time high on January 29, 2026 at $495.90. Year-to-date performance stood at +1.13 percent as of June 2, 2026.
Liquidity as a Decisive Advantage
Institutional investors and active traders prefer GLD for its superior liquidity. The fund offers the tightest bid-ask spreads of all gold ETFs and features the deepest options market in the gold segment. These trading characteristics make GLD the preferred choice for investors moving larger volumes or implementing derivative strategies.
As of June 2026, investors had access to approximately 40 gold-focused ETFs that differ in size, costs, and gold source. GLD is ranked as one of the seven best gold ETFs in market analyses.
Product Structure and Investment Strategy
SPDR Gold Shares invests exclusively in physical gold bars. A gold ETF is an exchange-traded fund that replicates the gold price by either holding physical gold or investing in gold derivatives. GLD issues shares in so-called baskets and redeems them in exchange for the delivery or return of physical gold. The investment objective is to replicate the performance of the gold price less fund expenses.
The fund offers 100 percent exposure to the commodities sector and employs neither leverage nor derivatives. GLD has no ESG score and does not pursue sustainability overlays. The product structure focuses on pure gold price replication without additional strategy layers.
Market Position and History
SSGA describes GLD as "the original gold ETF" with strong institutional anchoring. The long market presence and significantly higher assets under management compared to GLDM – which has been available for 7.5 years – underscore its established position. The sponsor emphasizes that for many investors, GLD represents a cost-effective investment instrument in gold, although availability varies by jurisdiction.
SSGA notes that fund information is provided "as is" without warranty of accuracy. Investors should seek independent financial advice before making investment decisions. The fund is not available to all investors in all jurisdictions.