Compare/Updated Oct 26, 2026, refreshed every trading day
IAUM vs GLD
iShares Gold Trust Micro against SPDR Gold Shares: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
IAUM did better over the period: $1,000 invested on Oct 28, 2022 would be worth $2,426 versus $2,394 for GLD, a 142.6% versus 139.4% total return. IAUM also led over three years, 104.6% versus 102.7%, while delivering slightly lower 12-month volatility, 28.2% versus 28.5%, and a marginally smaller worst drawdown, -26.3% versus -26.4%. The main reason is cost: IAUM’s 0.09% expense ratio is substantially below GLD’s 0.40%. Their daily returns were nearly identical, with a 0.999 correlation and IAUM moving about 0.99% for each 1% move in GLD, so the performance difference is primarily fee-related rather than exposure-related. GLD remains the larger fund, with $136B in assets versus IAUM’s $6B, but the data favors IAUM for lower cost and slightly better historical results.
- Price is below its 200-day average ($45); 50-day at $43.
- RSI 34, neutral. Supertrend says sell. ADX 17, so the trend is weak.
- 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.
Head to head
Which has returned more, IAUM or GLD?
IAUM beat GLD in 34 of the last 48 months; GLD won the other 14. The typical monthly gap was 0.04 points.
Total return by period
Which is riskier?
Both: Jan 29, 2026 to Jul 16, 2026
- 0.999
- correlation of daily moves, 4 years
- 0.99
- IAUM move per 1% in GLD
- 1.000
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.04 points.
When did they diverge?
| Month | IAUM | GLD | Gap |
|---|---|---|---|
| January 2026 | +12.7% | +12.3% | +0.45 pts |
| February 2026 | +8.3% | +8.7% | -0.44 pts |
| December 2025 | +2.3% | +2.1% | +0.22 pts |
| December 2022 | +3.1% | +2.9% | +0.18 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 IAUM and GLD?
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