GLD — SPDR Gold Shares

GLD Price Performance — Growth of $10,000

Value of a $10,000 investment in GLD over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

GLD Drawdown

The "underwater" chart: GLD's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

SPDR Gold Shares (GLD) is a commodity-focused ETF managed by State Street Investment Management, with a substantial $130B in assets under management. GLD is positioned as the 127th largest ETF among the 458 tracked by ETFValuer, indicating a significant presence in the market. The fund carries an expense ratio of 0.4%, which is relatively low, and does not offer any dividend income, as its dividend yield is 0.00%. The price of $423.36 suggests that GLD is a premium-priced ETF, which is common for gold-related funds given the underlying commodity's value. GLD's overall grade of B (score 68.5/100) reflects a balanced performance, though it is not the top performer in its category, which is home to 22 other ETFs.

Over the past year, GLD has delivered a strong return of 37.29%, with a more modest 137.67% gain over the past three years, indicating a favorable long-term performance. The 1-month return of 13.95% and the 1-week return of 5.45% suggest a strong short-term momentum, which has been sustained over the past year. However, the 6-month return of -9.66% and the year-to-date (YTD) return of 6.30% show some volatility, with the 1-day return of +1.95% indicating that GLD can experience significant daily fluctuations. This pattern suggests that while GLD has shown resilience in the short term, its performance has been more volatile over longer periods.

GLD is labeled as having high volatility, which is consistent with its beta of 0.36, indicating that it tends to move in the same direction as the market but with greater magnitude. The Sharpe ratio of 1.12 suggests that the fund provides a good risk-adjusted return, meaning that for every unit of risk taken, it generates a return that is above the risk-free rate. However, the maximum drawdown of -26.40% highlights the potential for significant losses during market downturns. This combination of high volatility, a moderate beta, a favorable Sharpe ratio, and a substantial drawdown indicates that GLD is suitable for investors who are willing to accept higher risk for potentially higher returns, but it may not be ideal for those seeking more stable performance in volatile markets.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.69% (as of 2026-08-20) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.01 (as of 2026-08-20) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

See it in a portfolio

GLD is one of the twelve funds in the portfolio game. Start with 25% of a virtual $10,000 in it, build the rest however you like, and the builder shows the range this mix has actually produced over every five-day stretch of the last three years — before you commit to anything.

Free, no sign-up, virtual money only.

GLD Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 8.1M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $130B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GLD is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

GLD Performance History

How GLD Compares to Other Commodities ETFs