# GLDM alternatives: 8 similar ETFs compared

> ETFs similar to GLDM, closest first, with each fund's fee, what it tracks, and returns and worst drops on the same dates as GLDM. Updated daily.

The ETFs most like GLDM are SGOL, BAR and AAAU. SGOL, BAR, AAAU and GLD track the same index as GLDM, so they hold the same investments.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- 8 funds can stand in for GLDM: 4 on the same index, 1 of the same kind and 3 related funds.
- GLDM charges 0.1% a year (about $10 on $10,000).
- SGOL moved most like GLDM: a daily correlation of 1.00 over about the last five years.
- Returns and drops for each pair use the same dates for both funds.

## GLDM alternatives at a glance

Each fund below can stand in for GLDM, closest first. "Same index" funds hold the same investments as GLDM. "Same kind" funds hold the same kind of investments through a different index. "Related" funds make a different bet that often moves the same way.

| ETF | How close | Yearly fee | Fee on $10,000 | Tracks |
| --- | --- | --- | --- | --- |
| **GLDM** | This fund | 0.1% | $10 | LBMA Gold Price PM |
| [SGOL](https://tactfolio.com/etf/SGOL.md) | Same index | 0.17% | $17 | LBMA Gold Price PM |
| [BAR](https://tactfolio.com/etf/BAR.md) | Same index | 0.1749% | $17.49 | LBMA Gold Price PM |
| [AAAU](https://tactfolio.com/etf/AAAU.md) | Same index | 0.18% | $18 | LBMA Gold Price PM |
| [GLD](https://tactfolio.com/etf/GLD.md) | Same index | 0.4% | $40 | LBMA Gold Price PM |
| [IAU](https://tactfolio.com/etf/IAU.md) | Same kind of fund | 0.25% | $25 | LBMA Gold Price |
| [DJP](https://tactfolio.com/etf/DJP.md) | Related fund | 0.7% | $70 | Bloomberg Commodity Index Total Return |
| [DBC](https://tactfolio.com/etf/DBC.md) | Related fund | 0.85% | $85 | DBIQ Optimum Yield Diversified Commodity Index Excess Return |
| [GSG](https://tactfolio.com/etf/GSG.md) | Related fund | 0.75% | $75 | S&P GSCI Total Return Index |

Fees come from each fund company, checked on the dates shown on each fund's page.

## How GLDM and its alternatives did over the same dates

Each row measures the alternative and GLDM on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

| ETF | Moves with GLDM | Per year | GLDM per year | Worst drop | GLDM worst drop | Since |
| --- | --- | --- | --- | --- | --- | --- |
| [SGOL](https://tactfolio.com/etf/SGOL.md) | 1.00 | 15.3% | 15.3% | −26.3% | −26.3% | June 2018 |
| [BAR](https://tactfolio.com/etf/BAR.md) | 1.00 | 15.3% | 15.3% | −26.3% | −26.3% | June 2018 |
| [AAAU](https://tactfolio.com/etf/AAAU.md) | 1.00 | 16.6% | 16.6% | −26.3% | −26.3% | August 2018 |
| [GLD](https://tactfolio.com/etf/GLD.md) | 1.00 | 15.0% | 15.3% | −26.4% | −26.3% | June 2018 |
| [IAU](https://tactfolio.com/etf/IAU.md) | 1.00 | 15.2% | 15.3% | −26.4% | −26.3% | June 2018 |
| [DJP](https://tactfolio.com/etf/DJP.md) | 0.43 | 9.8% | 15.3% | −35.6% | −26.3% | June 2018 |
| [DBC](https://tactfolio.com/etf/DBC.md) | 0.31 | 10.5% | 15.3% | −41.7% | −26.3% | June 2018 |
| [GSG](https://tactfolio.com/etf/GSG.md) | 0.23 | 9.6% | 15.3% | −57.6% | −26.3% | June 2018 |

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## Each GLDM alternative, compared

### SGOL: abrdn Physical Gold Shares ETF

SGOL tracks the same LBMA Gold Price PM as GLDM, so the two hold the same investments. The main differences are the fee and the fund company.

It charges 0.17% a year, about $17 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, SGOL returned about 15.3% a year and GLDM returned about 15.3% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the [SGOL fund page](https://tactfolio.com/etf/SGOL.md) for its returns by year and worst drop.

### BAR: GraniteShares Gold Trust

BAR tracks the same LBMA Gold Price PM as GLDM, so the two hold the same investments. The main differences are the fee and the fund company.

It charges 0.1749% a year, about $17.49 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, BAR returned about 15.3% a year and GLDM returned about 15.3% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the [BAR fund page](https://tactfolio.com/etf/BAR.md) for its returns by year and worst drop.

### AAAU: Goldman Sachs Physical Gold ETF

AAAU tracks the same LBMA Gold Price PM as GLDM, so the two hold the same investments. The main differences are the fee and the fund company.

It charges 0.18% a year, about $18 on $10,000, against $10 for GLDM.

From August 2018 to October 2026, AAAU returned about 16.6% a year and GLDM returned about 16.6% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the [AAAU fund page](https://tactfolio.com/etf/AAAU.md) for its returns by year and worst drop.

### GLD: SPDR Gold Shares

GLD tracks the same LBMA Gold Price PM as GLDM, so the two hold the same investments. The main differences are the fee and the fund company.

It charges 0.4% a year, about $40 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, GLD returned about 15.0% a year and GLDM returned about 15.3% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the [GLD fund page](https://tactfolio.com/etf/GLD.md) for its returns by year and worst drop.

### IAU: iShares Gold Trust

IAU also holds gold bars kept in a vault. It tracks the LBMA Gold Price, while GLDM tracks the LBMA Gold Price PM.

It charges 0.25% a year, about $25 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, IAU returned about 15.2% a year and GLDM returned about 15.3% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the [IAU fund page](https://tactfolio.com/etf/IAU.md) for its returns by year and worst drop.

### DJP: iPath Bloomberg Commodity Index Total Return ETN

DJP is a looser match. It holds futures on oil, metals, grains and other raw materials, while GLDM holds gold bars kept in a vault.

It charges 0.7% a year, about $70 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, DJP returned about 9.8% a year and GLDM returned about 15.3% a year. Over about the last five years they often moved in different ways (correlation 0.43).

Read the [DJP fund page](https://tactfolio.com/etf/DJP.md) for its returns by year and worst drop.

### DBC: Invesco DB Commodity Index Tracking Fund

DBC is a looser match. It holds futures on oil, metals, grains and other raw materials, while GLDM holds gold bars kept in a vault.

It charges 0.85% a year, about $85 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, DBC returned about 10.5% a year and GLDM returned about 15.3% a year. Over about the last five years they often moved in different ways (correlation 0.31).

Read the [DBC fund page](https://tactfolio.com/etf/DBC.md) for its returns by year and worst drop.

### GSG: iShares S&P GSCI Commodity-Indexed Trust

GSG is a looser match. It holds futures on oil, metals, grains and other raw materials, while GLDM holds gold bars kept in a vault.

It charges 0.75% a year, about $75 on $10,000, against $10 for GLDM.

From June 2018 to October 2026, GSG returned about 9.6% a year and GLDM returned about 15.3% a year. Over about the last five years they often moved in different ways (correlation 0.23).

Read the [GSG fund page](https://tactfolio.com/etf/GSG.md) for its returns by year and worst drop.

## GLDM versions from other fund companies

Some people keep all their funds with one company. Here is the closest fund to GLDM from each other company on this page:

- **abrdn (Aberdeen):** [SGOL](https://tactfolio.com/etf/SGOL.md), abrdn Physical Gold Shares ETF (same index, 0.17% a year)
- **GraniteShares:** [BAR](https://tactfolio.com/etf/BAR.md), GraniteShares Gold Trust (same index, 0.1749% a year)
- **Goldman Sachs Asset Management:** [AAAU](https://tactfolio.com/etf/AAAU.md), Goldman Sachs Physical Gold ETF (same index, 0.18% a year)
- **iShares (BlackRock):** [IAU](https://tactfolio.com/etf/IAU.md), iShares Gold Trust (same kind of fund, 0.25% a year)
- **iPath (Barclays):** [DJP](https://tactfolio.com/etf/DJP.md), iPath Bloomberg Commodity Index Total Return ETN (related fund, 0.7% a year)
- **Invesco:** [DBC](https://tactfolio.com/etf/DBC.md), Invesco DB Commodity Index Tracking Fund (related fund, 0.85% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company's index mutual fund, are not listed here.

## How to choose between GLDM and its alternatives

- **What it tracks.** A fund on the same index holds the same investments. A different index can mean different weights, more or fewer holdings, or a different mix.
- **The fee.** The difference is often small. On $10,000, GLDM costs about $10 a year.
- **History.** An older fund has been through more bad markets, so you can see how far it fell.
- **What you already own.** Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

## Test GLDM and its alternatives in a backtest

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add GLDM and SGOL, and see how each would have done on the same dates, or how a mix of both would have done.

## The details

Alternatives are picked from facts, not from returns. First come funds that track the same index as GLDM. Then come funds that hold the same kind of investments through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like GLDM over about the last five years come first. Returns and worst drops use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with GLDM only on days both traded. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [Commodities](https://tactfolio.com/learn/commodities-explained): Commodities are raw goods like oil, gold and wheat.
- [Risk parity](https://tactfolio.com/learn/risk-parity): Risk parity balances risk instead of dollars. See a simple stock and bond example, why funds use leverage, and what went wrong in 2022.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What ETF is most similar to GLDM?

SGOL is the closest. SGOL tracks the same LBMA Gold Price PM as GLDM, so the two hold the same investments. The main differences are the fee and the fund company. Over about the last five years they moved almost exactly together.

### Is there a cheaper alternative to GLDM?

Not among the funds here. GLDM charges 0.1% a year, about $10 on $10,000, which is as low as or lower than each alternative listed.

### Is GLDM or SGOL better?

Neither is better for everyone. From June 2018 to October 2026, GLDM returned about 15.3% a year and SGOL returned about 15.3% a year. GLDM charges 0.1% a year and SGOL charges 0.17%. Past returns do not tell you what comes next.

## Sources

- [SPDR (State Street): SPDR Gold MiniShares fund page](https://www.spdrgoldshares.com/usa/gldm/)
- [abrdn (Aberdeen): abrdn Physical Gold Shares ETF fund page](https://www.sec.gov/Archives/edgar/data/1450923/000199937126004879/sgol-10k_123125.htm)
- [GraniteShares: GraniteShares Gold Trust fund page](https://graniteshares.com/etfs/bar/)
- [Goldman Sachs Asset Management: Goldman Sachs Physical Gold ETF fund page](https://www.sec.gov/Archives/edgar/data/1708646/000119312526067559/d56933d10k.htm)
- [SPDR (State Street): SPDR Gold Shares fund page](https://www.spdrgoldshares.com/usa/gld/)
- [iShares (BlackRock): iShares Gold Trust fund page](https://www.ishares.com/us/products/239561/ishares-gold-trust)
- [iPath (Barclays): iPath Bloomberg Commodity Index Total Return ETN fund page](https://www.sec.gov/Archives/edgar/data/312070/000191870426003783/form424b2.htm)
- [Invesco: Invesco DB Commodity Index Tracking Fund fund page](https://www.sec.gov/Archives/edgar/data/1328237/000119312526368455/d105975d424b3.htm)
- [iShares (BlackRock): iShares S&P GSCI Commodity-Indexed Trust fund page](https://www.ishares.com/us/products/239757/ishares-sp-gsci-commodityindexed-trust)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.