AAAU alternatives and similar ETFs

AAAU alternatives at a glance#

Each fund below can stand in for AAAU, closest first. “Same index” funds hold the same investments as AAAU. “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.

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

How AAAU and its alternatives did over the same dates#

Each row measures the alternative and AAAU 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.

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 AAAU alternative, compared#

GLDM: SPDR Gold MiniShares#

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

It charges 0.1% a year, about $10 on $10,000, against $18 for AAAU.

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

Read the GLDM fund page for its returns by year and worst drop.

SGOL: abrdn Physical Gold Shares ETF#

SGOL tracks the same LBMA Gold Price PM as AAAU, 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 $18 for AAAU.

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

Read the SGOL fund page for its returns by year and worst drop.

BAR: GraniteShares Gold Trust#

BAR tracks the same LBMA Gold Price PM as AAAU, 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 $18 for AAAU.

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

Read the BAR fund page for its returns by year and worst drop.

GLD: SPDR Gold Shares#

GLD tracks the same LBMA Gold Price PM as AAAU, 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 $18 for AAAU.

From August 2018 to October 2026, GLD returned about 16.3% a year and AAAU returned about 16.6% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the GLD fund page 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 AAAU tracks the LBMA Gold Price PM.

It charges 0.25% a year, about $25 on $10,000, against $18 for AAAU.

From August 2018 to October 2026, IAU returned about 16.5% a year and AAAU returned about 16.6% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the IAU fund page 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 AAAU holds gold bars kept in a vault.

It charges 0.7% a year, about $70 on $10,000, against $18 for AAAU.

From August 2018 to October 2026, DJP returned about 10.8% a year and AAAU returned about 16.6% a year. Over about the last five years they often moved in different ways (correlation 0.43).

Read the DJP fund page 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 AAAU holds gold bars kept in a vault.

It charges 0.85% a year, about $85 on $10,000, against $18 for AAAU.

From August 2018 to October 2026, DBC returned about 11.3% a year and AAAU returned about 16.6% a year. Over about the last five years they often moved in different ways (correlation 0.31).

Read the DBC fund page 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 AAAU holds gold bars kept in a vault.

It charges 0.75% a year, about $75 on $10,000, against $18 for AAAU.

From August 2018 to October 2026, GSG returned about 10.4% a year and AAAU returned about 16.6% a year. Over about the last five years they often moved in different ways (correlation 0.23).

Read the GSG fund page for its returns by year and worst drop.

AAAU versions from other fund companies#

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

• SPDR (State Street): GLDM, SPDR Gold MiniShares (same index, 0.1% a year)
• abrdn (Aberdeen): SGOL, abrdn Physical Gold Shares ETF (same index, 0.17% a year)
• GraniteShares: BAR, GraniteShares Gold Trust (same index, 0.1749% a year)
• iShares (BlackRock): IAU, iShares Gold Trust (same kind of fund, 0.25% a year)
• iPath (Barclays): DJP, iPath Bloomberg Commodity Index Total Return ETN (related fund, 0.7% a year)
• Invesco: DBC, 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 AAAU 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, AAAU costs about $18 a year. GLDM costs about $10.
• 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 AAAU 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, add AAAU and GLDM, 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 AAAU. 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 AAAU 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 AAAU only on days both traded. Read what a backtest simulates for more on these measures.