GLDM — SPDR Gold MiniShares

GLDM Price Performance — Growth of $10,000

Value of a $10,000 investment in GLDM 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.

GLDM Drawdown

The "underwater" chart: GLDM'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

The SPDR Gold MiniShares (GLDM) is a commodities fund issued by State Street Investment Management with $32.8 billion in assets under management. It holds a B grade with a score of 64.5 out of 100, ranking 9th out of 22 peers in its category and 183rd among all tracked ETFs. The fund’s 0.1% expense ratio is significantly lower than the category median of 0.595%, though it offers no dividend yield. Holdings breakdown data is not available for this specific vehicle.

GLDM has experienced a divergence between its recent momentum and longer-term trajectory, with a 1-year return of 20.86% trailing the category median of 30.36%. While short-term gains are positive across the last day, week, and month, the 6-month period shows a decline of 15.41%. The fund’s price of $87.03 sits at 40.4% of its 52-week range, reflecting a history that spans only 3.0 years. Its rating was upgraded from C to B on August 17, 2026, following this performance record.

The fund exhibits high annualized volatility of 28.99% and a beta of 0.45, indicating it moves less than the broader market. A Sharpe ratio of 0.55 suggests moderate risk-adjusted returns, while the maximum drawdown reached -26.27%. Liquidity is robust, supported by an average daily volume of 4,587,993 shares and a tight bid-ask spread of 0.01%. These metrics collectively describe a volatile asset that has provided substantial long-term growth despite recent short-term declines.

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

Market Backdrop

10-Year Treasury Yield: 4.80% (as of 2026-09-08) — 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): 15.72 (as of 2026-09-08) — 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 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

GLDM Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.01% and average daily volume is 4.6M/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 $32.8B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GLDM 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.

GLDM Performance History

How GLDM Compares to Other Commodities ETFs