Compare/Updated Oct 26, 2026, refreshed every trading day
IAUM vs GLDM
iShares Gold Trust Micro against SPDR Gold MiniShares Trust: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
IAUM did slightly better over the 1,000-trading-day period: $1,000 invested on October 28, 2022 grew to $2,426, versus $2,422 for GLDM. The difference is minimal, reflecting their nearly identical gold exposure and 0.999 correlation of daily moves. IAUM’s lower 0.09% expense ratio versus GLDM’s 0.10% likely helped produce the modest edge, although IAUM’s $6B in assets is smaller than GLDM’s $30B. Both funds had the same reported total returns across the 1-month, 3-month, 6-month, YTD, 1-year, and 3-year periods. Risk was also nearly identical: 12-month volatility was 28.2% for IAUM and 28.3% for GLDM, while both experienced a worst drawdown of 26.3%. IAUM was the marginal winner, but the performance gap is too small to materially distinguish the funds.
- 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 ($89); 50-day at $85.
- RSI 34, neutral. Supertrend says sell. ADX 20, so the trend is weak.
Head to head
Which has returned more, IAUM or GLDM?
IAUM beat GLDM in 25 of the last 48 months; GLDM won the other 23. 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
- 1.00
- IAUM move per 1% in GLDM
- 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 | GLDM | Gap |
|---|---|---|---|
| January 2026 | +12.7% | +12.5% | +0.26 pts |
| February 2026 | +8.3% | +8.5% | -0.19 pts |
| January 2025 | +6.8% | +6.7% | +0.13 pts |
| December 2022 | +3.1% | +3.0% | +0.13 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 GLDM?
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