GLD vs IAU: Which ETF Is Better in 2026?
A metric-by-metric comparison of SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) — both Commodities funds — using ETFValuer's daily-updated rankings.
Educational content — not financial advice. Data as of July 5, 2026. ~5 minute read.
The Verdict
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — IAU scores higher: 60.8 (Grade C) versus 59.0 for GLD. That doesn't make GLD a bad fund; it means IAU currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Head-to-Head: Every Metric
| GLD | IAU | |
|---|---|---|
| Category | Commodities | Commodities |
| Expense ratio | 0.40% | 0.25% |
| Fund size (AUM) | $150.4B | $69.9B |
| Dividend yield | 0.00% | 0.00% |
| 1-year return | +22.95% | +23.19% |
| 3-year return | +111.51% | +112.47% |
| Volatility | 27.74% | 27.55% |
| Max drawdown | -26.21% | -26.17% |
| Sharpe ratio | 0.65 | 0.66 |
| ETFValuer score | 59.0 | 60.8 |
| Grade | C | C |
| Rank (of ~150) | #67 | #65 |
Bold marks the better value in each row. "Better" is directional only (e.g. lower cost, higher return) — it isn't a recommendation by itself. See the full methodology.
Cost
IAU is the cheaper fund, charging 0.25% a year versus 0.40% for GLD — a gap of 0.15 percentage points (about $15.00/year on a $10,000 position) that compounds meaningfully over a multi-decade holding period. See the Fee Drag Calculator for the exact dollar impact at your investment size and horizon.
Performance & Risk
Over the trailing 3 years, IAU returned +112.47% versus +111.51% for GLD — a gap of about 1.0 percentage points. On risk, IAU has held up better historically, with a shallower max drawdown (-26.17% vs. -26.21%). IAU currently has the better risk-adjusted return (Sharpe ratio of 0.66 vs. 0.65), meaning it delivered more return per unit of volatility taken on.
Frequently Asked Questions
Is GLD or IAU better?
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — IAU scores higher: 60.8 (Grade C) versus 59.0 for GLD. That doesn't make GLD a bad fund; it means IAU currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Which has the lower expense ratio, GLD or IAU?
IAU currently has the lower expense ratio (0.25% vs. 0.40%).
Can I hold both GLD and IAU?
Since GLD and IAU are both Commodities funds, they likely hold significant overlapping positions — owning both usually adds cost and complexity without meaningfully improving diversification. Pick one rather than holding both at full weight.
Go deeper on either fund
Full daily-updated metrics, holdings context, and category peers.