Compare/Updated Oct 26, 2026, refreshed every trading day
GLD vs IAU
SPDR Gold Shares against iShares Gold Trust: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
IAU did slightly better over the period: $1,000 invested on October 28, 2022 would be worth $2,407 versus $2,394 for GLD, producing returns of 140.7% and 139.4%, respectively. IAU’s edge reflects its lower 0.25% expense ratio compared with GLD’s 0.40%; it also won 30 of the last 48 months, although the typical monthly difference was only 0.03 points. The funds were effectively identical in market behavior, with 1.000 correlation, 28.3% versus 28.5% 12-month volatility, and worst drawdowns of -26.3% versus -26.4% for IAU and GLD. IAU therefore delivered marginally higher returns with slightly lower recent volatility and drawdown, while GLD remains the larger fund at $136B versus IAU’s $60B.
- Price is below its 200-day average ($414); 50-day at $395.
- RSI 34, neutral. Supertrend says sell. ADX 22, so the trend is developing.
- Price is below its 200-day average ($85); 50-day at $81.
- RSI 34, neutral. Supertrend says sell. ADX 17, so the trend is weak.
Head to head
Which has returned more, GLD or IAU?
GLD beat IAU in 18 of the last 48 months; IAU won the other 30. The typical monthly gap was 0.03 points.
Total return by period
Which is riskier?
Both: Jan 29, 2026 to Jul 16, 2026
- 1.000
- correlation of daily moves, 4 years
- 1.00
- GLD move per 1% in IAU
- 1.000
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.03 points.
When did they diverge?
| Month | GLD | IAU | Gap |
|---|---|---|---|
| December 2025 | +2.1% | +2.2% | -0.15 pts |
| November 2025 | +5.5% | +5.3% | +0.13 pts |
| February 2026 | +8.7% | +8.6% | +0.09 pts |
| January 2026 | +12.3% | +12.4% | -0.08 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with GLD and IAU?
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